diff --git a/app/models/investment.rb b/app/models/investment.rb
index 3d18a8334..2ff1bde2f 100644
--- a/app/models/investment.rb
+++ b/app/models/investment.rb
@@ -102,7 +102,11 @@ class Investment < ApplicationRecord
 
       # Build region order: user's region first (if known), then Generic, then others
       other_regions = %w[us uk ca au eu] - [ user_region ].compact
-      region_order = [ user_region, nil, *other_regions ].compact.uniq
+      region_order = if user_region
+        [ user_region, nil, *other_regions ].uniq
+      else
+        [ nil, *other_regions ].uniq
+      end
 
       region_order.filter_map do |region|
         next unless grouped[region]