U.S. Diversified Financials Healthy potentially undervalued

XP

Market Cap: US$8.4b

Engages in the provision of financial products and services in Brazil.

Jefferson Capital

Market Cap: US$1.1b

Provides debt recovery solutions and other related services in the United States, the United Kingdom, Canada, and Latin America.

Noah Holdings

Market Cap: US$656.7m

Operates as a wealth and asset management service provider with the focus on investment and asset allocation services for high net worth individuals and corporate entities in Mainland of China, Hong Kong, and internationally.

PagSeguro Digital

Market Cap: US$2.5b

Provides financial and payment solutions for consumers, individual entrepreneurs, micro-merchants, and small and medium-sized companies in Brazil and internationally.

Euronet Worldwide

Market Cap: US$2.8b

Provides payment and transaction processing and distribution solutions to financial institutions, retailers, service providers, and individual consumers internationally.

FinVolution Group

Market Cap: US$1.2b

An investment holding company, operates in the online consumer finance industry in the People’s Republic of China, Indonesia, Philippines, and internationally.

Federal Home Loan Mortgage

Market Cap: US$20.0b

Operates in the secondary mortgage market in the United States.

Ameriprise Financial

Market Cap: US$40.2b

Operates as a diversified financial services company in the United States and internationally.

UP Fintech Holding

Market Cap: US$804.6m

Provides online brokerage services focusing on Chinese investors in New Zealand, the Cayman Island, Singapore, the United States, and internationally.

Federated Hermes

Market Cap: US$4.1b

A publicly owned investment manager.

T. Rowe Price Group

Market Cap: US$24.5b

A publicly owned investment manager.

StoneCo

Market Cap: US$2.6b

Provides financial technology and software solutions to merchants and integrated partners to conduct electronic commerce across in-store, online, and mobile channels in Brazil.

EVERTEC

Market Cap: US$1.7b

Provides transaction processing and financial technology services in Latin America, Puerto Rico, and the Caribbean.

Fiserv

Market Cap: US$26.0b

Provides payments and financial services technology solutions in the United States, Europe, the Middle East and Africa, Latin America, the Asia-Pacific, and internationally.

FactSet Research Systems

Market Cap: US$8.5b

Operates as a financial digital platform and enterprise solutions provider for the investment community.

Vinci Compass Investments

Market Cap: US$632.6m

Operates as an asset management firm in Brazil.

Federal National Mortgage Association

Market Cap: US$39.4b

Provides financing solutions for residential mortgages in the United States.

Chicago Atlantic Real Estate Finance

Market Cap: US$234.8m

Chicago Atlantic Real Estate Finance, Inc.

LexinFintech Holdings

Market Cap: US$318.0m

Offers online direct sales and online consumer finance services in the People’s Republic of China.

Kaspi.kz

Market Cap: US$16.6b

Provides payments, marketplace, and fintech solutions for consumers and merchants in Kazakhstan, Azerbaijan, and Ukraine.

PayPal Holdings

Market Cap: US$38.1b

Operates a technology platform that enables digital payments for merchants and consumers worldwide.

Synchrony Financial

Market Cap: US$26.4b

Operates as a consumer financial services company in the United States.

Bread Financial Holdings

Market Cap: US$4.4b

Provides tech-forward payment and lending solutions to customers and consumer-based industries in North America.

NMI Holdings

Market Cap: US$3.1b

Provides private mortgage guaranty insurance services in the United States.

Voya Financial

Market Cap: US$8.2b

Provides workplace benefits, and savings solutions and technologies in the United States and internationally.

Radian Group

Market Cap: US$5.0b

Provides mortgage insurance in the United States.

Raymond James Financial

Market Cap: US$29.1b

A diversified financial services company, provides private client group, capital markets, asset management, banking, and other services to individuals, corporations, and municipalities in the United States, Canada, and Europe.

Virtu Financial

Market Cap: US$9.0b

Operates as a financial services company in the United States, Ireland, and internationally.

Hamilton Lane

Market Cap: US$4.2b

A private equity and venture capital firm specializing in early venture, emerging growth, turnaround, middle market, mature, mid-venture, bridge, buyout, distressed/vulture, loan, mezzanine in growth capital companies.

Essent Group

Market Cap: US$6.0b

Through its subsidiaries, provides private mortgage insurance and reinsurance, and title insurance and settlement services to mortgage lenders, borrowers, and investors in the United States.

MGIC Investment

Market Cap: US$6.0b

Through its subsidiaries, provides private mortgage insurance, other mortgage credit risk management solutions, and ancillary services in the United States, the District of Columbia, Puerto Rico, and Guam.

SLM

Market Cap: US$4.9b

Through its subsidiaries, originates and services private education loans to students and their families to finance the cost of their education in the United States.

Futu Holdings

Market Cap: US$13.6b

Engages in the provision of digitalized securities brokerage and wealth management product distribution service in Hong Kong and internationally.

Qfin Holdings

Market Cap: US$1.9b

Qfin Holdings, Inc., together with its subsidiaries, operate AI- driven credit-tech platform under the Qifu Jietiao brand in the People’s Republic of China.

Regional Management

Market Cap: US$382.5m

A diversified consumer finance company, provides various installment loan products primarily to customers with limited access to consumer credit from banks, thrifts, credit card companies, and other lenders in the United States.

MarketAxess Holdings

Market Cap: US$3.9b

Operates an electronic trading platform for institutional investor and broker-dealer firms in the United States, the United Kingdom, and internationally.