Global Undervalued Small Caps With Insider Buying

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.

Karnov Group

Market Cap: SEK 12.4b

Provides online and offline information products and services for professionals in the areas of legal, tax and accounting, environmental, and health and safety in Denmark, Norway, France, Sweden, Portugal, and Spain.

Foxtons Group

Market Cap: UK£187.2m

An estate agency, provides services to the residential property market in the United Kingdom.

NOTE

Market Cap: SEK 5.0b

Provides electronics manufacturing services in Sweden, Finland, the United Kingdom, Bulgaria, Estonia, China, and internationally.

Troax Group

Market Cap: SEK 8.7b

Through its subsidiaries, produces and sells mesh panels in the Nordic region, the United Kingdom, North America, Europe, and internationally.

Hudson Pacific Properties

Market Cap: US$1.1b

Hudson Pacific Properties (NYSE: HPP) is a real estate investment trust serving dynamic tech and media tenants in global epicenters for these synergistic, converging and secular growth industries.

Byline Bancorp

Market Cap: US$1.2b

Operates as the bank holding company for Byline Bank that provides various banking products and services for small and medium sized businesses, commercial real estate and financial sponsors, and consumers in the United States.

Hoist Finance

Market Cap: SEK 7.7b

A credit market company, engages in the loan acquisition and management operations in Europe.

NPK International

Market Cap: US$721.8m

A temporary worksite access solutions company, manufactures, sells, and rents recyclable composite matting products.

Pebblebrook Hotel Trust

Market Cap: US$1.3b

Pebblebrook Hotel Trust (NYSE: PEB) is a publicly traded real estate investment trust ("REIT") and the largest owner of urban and resort lifestyle hotels and resorts in the United States.

Colony Bankcorp

Market Cap: US$304.0m

Operates as the bank holding company for Colony Bank that provides various banking products and services to retail and commercial customers in the United States.

Aris Mining

Market Cap: CA$1.7b

Engages in the acquisition, exploration, development, and operation of gold properties in Canada, Colombia, and Guyana.

Salim Ivomas Pratama

Market Cap: Rp8.1t

Produces and sells edible oils and fats in Indonesia, China, Singapore, Timor Leste, Nigeria, Haiti, Germany, the Philippines, Papua New Guinea, and internationally.

Butler National

Market Cap: US$104.9m

Designs, engineers, manufactures, sells, integrates, installs, repairs, modifies, overhauls, services, and distributes a portfolio of aerostructures, aircraft components, avionics, accessories, subassemblies, and systems in North America, Europe, the Middle East, Asia, and internationally.

Fintel

Market Cap: UK£259.4m

Engages in the provision of intermediary services and distribution channels to the retail financial services sector in the United Kingdom.

CPI Card Group

Market Cap: US$249.8m

Engages in the design, production, data personalization, packaging, and fulfillment of payment cards in the United States.

Yubico

Market Cap: SEK 11.4b

Provides authentication solutions for use in computers, networks, and online services.

Eureka Group Holdings

Market Cap: AU$235.4m

Owns and manages senior independent living communities in Australia.

Ho Bee Land

Market Cap: S$1.3b

A real estate company founded in 1987.

China Lesso Group Holdings

Market Cap: HK$13.4b

An investment holding company, manufactures piping and building materials in China and internationally.

China XLX Fertiliser

Market Cap: HK$7.9b

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

Wintermar Offshore Marine

Market Cap: Rp1.8t

Provides supporting services for the offshore transportation for the oil and gas industry in Indonesia, Malaysia, Brunei, Myanmar, Thailand, India, Vietnam, the Philippines, the Middle East, and Taiwan.

PhenixFIN

Market Cap: US$100.3m

A business development company.

Envela

Market Cap: US$158.1m

Provides recycling and recommerce services in the United States.

Super Group

Market Cap: R6.1b

Engages in the supply chain management, mobility, dealership, and fleet management activities in South Africa, sub-Saharan Africa, Australia, Europe, New Zealand, and the United Kingdom.

Renold

Market Cap: UK£160.2m

Engages in the manufacture and sale of high precision engineered products and solutions in the United Kingdom, rest of Europe, the United States, Canada, Australasia, China, India, and internationally.

Credit Corp Group

Market Cap: AU$1.0b

Engages in the provision of debt ledger purchase and collection, and consumer lending services in Australia, New Zealand, and the United States.

Growthpoint Properties Australia

Market Cap: AU$1.8b

Since 2009, we’ve been investing in high-quality Australian real estate.

Build King Holdings

Market Cap: HK$1.4b

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

PROG Holdings

Market Cap: US$1.2b

A financial technology holding company, provides payment options to consumers in the United States.

Breedon Group

Market Cap: UK£1.3b

Engages in the quarrying, manufacture, and sale of construction materials and building products primarily in the United Kingdom and internationally.

Enea

Market Cap: SEK 1.3b

Provides software products for telecom and cybersecurity industries worldwide.

Ryerson Holding

Market Cap: US$765.3m

Processes and distributes industrial metals in the United States and internationally.

First Commonwealth Financial

Market Cap: US$1.8b

A financial holding company, provides various consumer and commercial banking products and services in the United States.

Saul Centers

Market Cap: US$848.3m

As of March 31, 2025, 93.9% of the commercial portfolio was leased compared to 94.6% as of March 31, 2024.

Safestore Holdings

Market Cap: UK£1.5b

Safestore is the UK's largest self-storage group with 209 stores on 30 April 2025; comprising 139 in the UK (including 78 in London and the South East with the remainder in key metropolitan areas such as Manchester, Birmingham, Glasgow, Edinburgh, Liverpool, Sheffield, Leeds, Newcastle, and Bristol), 32 in the Paris region, 16 in Spain, 16 in the Netherlands and 6 in Belgium.