Global Undervalued Small Caps With Insider Buying

Limbach Holdings

Market Cap: US$1.3b

Operates as a building systems solution company in the United States.

Peoples Bancorp

Market Cap: US$1.0b

Operates as the financial holding company for Peoples Bank that provides commercial and consumer banking products and services.

Sagicor Financial

Market Cap: CA$979.4m

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

Absolent Air Care Group

Market Cap: SEK 2.9b

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

CVS Group

Market Cap: UK£886.7m

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

Morguard North American Residential Real Estate Investment Trust

Market Cap: CA$939.6m

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

Southside Bancshares

Market Cap: US$919.8m

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

GEN Restaurant Group

Market Cap: US$112.2m

Operates restaurants in the United States.

Thryv Holdings

Market Cap: US$580.8m

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

A.G. BARR

Market Cap: UK£763.1m

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

Citizens & Northern

Market Cap: US$300.9m

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$229.3m

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.

Auburn National Bancorporation

Market Cap: US$90.8m

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

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.

Shore Bancshares

Market Cap: US$536.7m

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

Farmland Partners

Market Cap: US$478.5m

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$309.3m

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

Industrial Logistics Properties Trust

Market Cap: US$390.7m

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

First United

Market Cap: US$226.7m

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$727.1m

Provides marine expedition adventures and travel experience worldwide.

Tilray Brands

Market Cap: US$1.3b

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.

Hemisphere Energy

Market Cap: CA$185.2m

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

Daiwa House Logistics Trust

Market Cap: S$395.5m

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.

East West Banking

Market Cap: ₱27.9b

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

BWP Trust

Market Cap: AU$2.6b

Established and listed on the Australian Securities Exchange (‘ASX’) in 1998, BWP Trust (‘BWP’ or ‘the Trust’) is a real estate investment trust investing in and managing commercial properties throughout Australia.

Lion Rock Group

Market Cap: HK$1.1b

An investment holding company, provides printing services to international book publishers, trade, professional, and educational publishing conglomerates, as well as print media companies.

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.

Bank Danamon Indonesia

Market Cap: Rp24.6t

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

Hoist Finance

Market Cap: SEK 8.8b

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

Granite Ridge Resources

Market Cap: US$699.6m

Operates as a non-operated oil and natural gas exploration and production company.

AutoCanada

Market Cap: CA$724.8m

Through its subsidiaries, operates franchised automobile dealerships and related business.

Butler National

Market Cap: US$106.4m

Designs, engineers, manufactures, sells, integrates, installs, repairs, modifies, overhauls, services, and distributes a portfolio of aerostructures, aircraft components, avionics, accessories, subassemblies, and systems.

Karnov Group

Market Cap: SEK 12.3b

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.

Pebblebrook Hotel Trust

Market Cap: US$1.2b

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.

Nyab

Market Cap: SEK 5.1b

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

Colony Bankcorp

Market Cap: US$290.2m

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.