Global Undervalued Small Caps With Insider Buying

Blue Bird

Market Cap: US$1.7b

Designs, engineers, manufactures, and sells school buses in the United States, Canada, and internationally.

GEN Restaurant Group

Market Cap: US$115.2m

Operates restaurants in the United States.

Auburn National Bancorporation

Market Cap: US$92.6m

Operates as the bank holding company for AuburnBank that provides various banking products and services in East Alabama.

Daiwa House Logistics Trust

Market Cap: S$406.0m

Daiwa House Logistics Trust (“DHLT”) is a Singapore real estate investment trust (“REIT”) established with the investment strategy of principally investing in a portfolio of income-producing logistics and industrial real estate assets located across Asia.

Chinasoft International

Market Cap: HK$14.5b

Engages in development and provision of information technology (IT) solutions, IT outsourcing, and training services in the People’s Republic of China, the United States, Malaysia, Japan, Singapore, India, and Saudi Arabia.

East West Banking

Market Cap: ₱28.8b

Operates as a commercial bank that provides a range of financial products and services to individual and corporate clients in the Philippines and internationally.

Bank Danamon Indonesia

Market Cap: Rp24.9t

Provides banking services for retail, small and medium enterprises (SMEs), and corporate customers in Indonesia.

A.G. BARR

Market Cap: UK£767.5m

Manufactures, distributes, and sells soft drinks and cocktail solutions in the United Kingdom and internationally.

Dicker Data

Market Cap: AU$1.6b

Engages in the wholesale distribution of computer hardware, software, and related products for corporate and commercial markets in Australia and New Zealand.

CVS Group

Market Cap: UK£893.9m

Engages in veterinary, pet crematoria, online pharmacy, and retail businesses.

Absolent Air Care Group

Market Cap: SEK 3.0b

Designs, develops, sells, installs, and maintains air filtration units.

Tilray Brands

Market Cap: US$1.0b

A lifestyle consumer products company, engages in the research, cultivation, processing, and distribution of medical cannabis products in Canada, the United States, Europe, the Middle East, Africa, and internationally.

S&T Bancorp

Market Cap: US$1.5b

Operates as the bank holding company for S&T Bank that provides retail and commercial banking products and services to consumer, commercial, and small business in Pennsylvania and Ohio.

Farmland Partners

Market Cap: US$480.3m

An internally managed real estate company that owns and seeks to acquire high-quality North American farmland and makes loans to third-party farmers (both tenant and non-tenant) and landowners secured by farm real estate and/or other agricultural related assets.

PCB Bancorp

Market Cap: US$310.8m

Operates as the bank holding company for PCB Bank that provides various banking products and services to small and middle market businesses and individuals.

First United

Market Cap: US$226.3m

Operates as the bank holding company for First United Bank & Trust that provides various retail and commercial banking services to businesses and individuals in the United States.

Lindblad Expeditions Holdings

Market Cap: US$729.8m

Provides marine expedition adventures and travel experience worldwide.

Columbus McKinnon

Market Cap: US$408.7m

Designs, manufactures, and markets motion solutions for moving, lifting, positioning, and securing materials worldwide.

Southside Bancshares

Market Cap: US$899.4m

Operates as the bank holding company for Southside Bank that provides various financial services to individuals, businesses, municipal entities, and nonprofit organizations.

Sagicor Financial

Market Cap: CA$1.0b

Provides insurance products and related financial services in Jamaica, Barbados, Trinidad, Tobago, other Caribbean region, and the United States.

Thryv Holdings

Market Cap: US$590.1m

Provides digital marketing solutions and cloud-based tools to the small-to-medium-sized businesses in the United States.

Hemisphere Energy

Market Cap: CA$185.2m

Acquires, explores, develops, and produces petroleum and natural gas properties in Canada.

Citizens & Northern

Market Cap: US$301.8m

Operates as the bank holding company for Citizens & Northern Bank that provides various banking and related services to individual and corporate customers.

Angel Oak Mortgage REIT

Market Cap: US$217.9m

A real estate finance company, focuses on acquiring and investing in first lien non- qualified mortgage loans and other mortgage-related assets in the United States mortgage market.

Industrial Logistics Properties Trust

Market Cap: US$380.1m

ILPT is a real estate investment trust focused on owning and leasing high quality industrial and logistics properties.

Shore Bancshares

Market Cap: US$530.7m

Operates as a bank holding company for the Shore United Bank, N.A.

Morguard North American Residential Real Estate Investment Trust

Market Cap: CA$932.8m

The REIT is an unincorporated, open-ended real estate investment trust established under and governed by the laws of the Province of Ontario.

Nyab

Market Cap: SEK 4.8b

Provides engineering, construction, and maintenance services to energy, infrastructure, and industrial construction projects for public and private sectors in Finland and Sweden.

Bank of Valletta

Market Cap: €1.3b

Provides banking, financial, investment, and other products and services in Malta.

Community Bancorp

Market Cap: US$128.7m

Operates as the bank holding company for Community National Bank that provides various financial services to individuals, businesses, nonprofit organizations, and municipalities in northern and central Vermont.

Build King Holdings

Market Cap: HK$1.5b

An investment holding company, engages in the building construction and civil engineering works in Hong Kong and the People's Republic of China.

Far East Orchard

Market Cap: S$589.1m

An investment holding company, engages in the hotel operations and property investment activities in Singapore, Australia, the United Kingdom, Japan, Malaysia, Germany, and Denmark.

China XLX Fertiliser

Market Cap: HK$10.5b

An investment holding company, engages in the development, manufacture, and sale of urea primarily in Mainland China and internationally.

PhenixFIN

Market Cap: US$98.5m

A business development company.

Elders

Market Cap: AU$1.5b

Provides agricultural products and services to rural and regional customers primarily in Australia.

Spear Reit

Market Cap: R3.3b

Spear REIT Limited (“Spear”) listed as a Real Estate Investment Trust (“REIT”) on the main board of the Johannesburg Stock Exchange (“JSE”) and is the only regionally-focused REIT listed on the JSE that predominantly invests in high-quality income-generating assets in the Western Cape.