U.S. High-Quality Undiscovered Gems

Heritage Insurance Holdings

Market Cap: US$778.1m

Through its subsidiaries, provides personal and commercial residential insurance products.

CRA International

Market Cap: US$1.2b

Provides economic, financial, and management consulting services worldwide.

Universal Insurance Holdings

Market Cap: US$887.5m

Operates as an integrated insurance holding company in the United States.

WD-40

Market Cap: US$3.4b

Engages in the provision of maintenance products and homecare and cleaning products in North America, Central and South America, Asia, Australia, Europe, India, the Middle East, and Africa.

BK Technologies

Market Cap: US$282.5m

Through its subsidiary, BK Technologies, Inc., designs, manufactures, and markets wireless communications products in the United States and internationally.

Optex Systems Holdings

Market Cap: US$96.0m

Manufactures and sells optical sighting systems and assemblies primarily for the U.S.

Smith-Midland

Market Cap: US$189.7m

Smith-Midland Corporation invents, develops, manufactures, markets, leases, licenses, sells, and installs various precast concrete products and systems.

Caledonia Mining

Market Cap: US$512.2m

Primarily operates a gold mine in Jersey.

Acorn Energy

Market Cap: US$40.1m

Through its subsidiary, develops and markets wireless remote monitoring and control systems in the United States and internationally.

CorVel

Market Cap: US$2.5b

Provides workers’ compensation, general and auto liability, and hospital bill auditing and payment integrity solutions.

Kingstone Companies

Market Cap: US$228.2m

Through its subsidiary, Kingstone Insurance Company ("KICO"), provides property and casualty insurance products in the United States.

QDM International

Market Cap: US$720.6m

Operates as an insurance brokerage company primarily in Hong Kong.

Crawford United

Market Cap: US$293.6m

Provides specialty industrial products in the United States, Canada, the United Kingdom, Puerto Rico, and internationally.

Jiayin Group

Market Cap: US$322.4m

Engages in the provision of online consumer finance services in the People’s Republic of China.

Yuanbao

Market Cap: US$873.2m

Through its subsidiaries, provides online insurance distribution and services in the People’s Republic of China.

eGain

Market Cap: US$257.4m

Engages in the development, license, implementation, and support of its customer service infrastructure software solutions in North America, Europe, the Middle East, Africa, and the Asia Pacific.

Innovative Designs

Market Cap: US$9.9m

Manufactures and sells cold weather recreational and industrial clothing products in the United States and Canada.

Exzeo Group

Market Cap: US$1.6b

Provides turnkey insurance technology and operations solutions to insurance carriers and agents.

North European Oil Royalty Trust

Market Cap: US$82.1m

A grantor trust, holds overriding royalty rights covering gas and oil production in various concessions or leases in the Federal Republic of Germany.

Yijia Group

Market Cap: US$40.3m

Provides business consulting services in the United States, Hong Kong, China, and internationally.

uCloudlink Group

Market Cap: US$58.0m

Operates as a mobile data traffic sharing marketplace in the telecommunications industry.

Natural Grocers by Vitamin Cottage

Market Cap: US$622.6m

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$427.8m

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

DRDGOLD

Market Cap: US$2.7b

A gold mining company, engages in the extraction of gold from the retreatment of surface mine tailings in South Africa.

Solera National Bancorp

Market Cap: US$69.9m

Operates as the bank holding company for Solera National Bank, which provides commercial and consumer banking services in the United States.