U.S. Diversified Financials Potentially Undervalued Companies

FinVolution Group

Market Cap: US$2.1b

Operates in the online consumer finance industry.

Merchants Bancorp

Market Cap: US$1.4b

Operates as the diversified bank holding company in the United States.

Rithm Capital

Market Cap: US$6.0b

Operates as an asset manager focused on real estate, credit, and financial services in the United States.

PROG Holdings

Market Cap: US$1.1b

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

WEX

Market Cap: US$4.3b

Operates a commerce platform in the United States and internationally.

HAL Trust

Market Cap: US$10.7b

Operates through multi-sectors in Europe, the United States, Canada, Asia, and internationally.

Kaspi.kz

Market Cap: US$17.1b

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

Exor

Market Cap: US$18.3b

Engages in the automotive, agriculture and construction, sports car, commercial vehicle, and powertrain businesses worldwide.

Chicago Atlantic Real Estate Finance

Market Cap: US$313.9m

Chicago Atlantic Real Estate Finance, Inc.

Qifu Technology

Market Cap: US$6.0b

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

Futu Holdings

Market Cap: US$14.2b

Provides digitalized securities brokerage and wealth management product distribution service in Hong Kong and internationally.

Ameriprise Financial

Market Cap: US$46.9b

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

Edenred

Market Cap: US$6.7b

Provides digital platform for services and payments for companies, employees, and merchants worldwide.

ORIX

Market Cap: US$3.3t

Provides diversified financial services in Japan, the United States, Asia, Europe, Australasia, and the Middle East.

Federal Home Loan Mortgage

Market Cap: US$17.3b

Operates in the secondary mortgage market in the United States.

Regional Management

Market Cap: US$286.6m

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.

Burford Capital

Market Cap: US$2.3b

Provides legal finance products and services worldwide.

Julius Bär Gruppe

Market Cap: US$11.4b

Provides wealth management solutions in Switzerland, Europe, the Americas, Asia, and internationally.

Navigator Global Investments

Market Cap: US$742.5m

HFA Holdings Limited operates as a fund management company in Australia.

3i Group

Market Cap: US$40.3b

A private equity firm specializing in mature companies, growth capital, middle markets, infrastructure, and management leveraged buyouts and buy-ins.

Affiliated Managers Group

Market Cap: US$5.1b

Through its affiliates, operates as an investment management company providing investment management services to mutual funds, institutional clients,retails and high net worth individuals in the United States.

IGM Financial

Market Cap: US$10.3b

Engages in the asset management business in Canada.

OneMain Holdings

Market Cap: US$5.8b

A financial service holding company, engages in the consumer finance and insurance businesses in the United States.

Trinity Capital

Market Cap: US$895.3m

A business development company specializing in term loans, equipment financing, and private equity-related investments.

AG Mortgage Investment Trust

Market Cap: US$202.7m

Operates as a residential mortgage real estate investment trust in the United States.

Ellington Financial

Market Cap: US$1.2b

Through its subsidiary, Ellington Financial Operating Partnership LLC, acquires and manages mortgage-related, consumer-related, corporate-related, and other financial assets in the United States.

Worldline

Market Cap: US$1.4b

Provides payments and transactional services for financial institutions, merchants, corporations, and government agencies in Northern Europe, Central and Eastern Europe, Southern Europe, and internationally.

Federated Hermes

Market Cap: US$3.2b

A publicly owned investment manager.

StoneCo

Market Cap: US$3.7b

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

T. Rowe Price Group

Market Cap: US$20.4b

A publicly owned investment manager.

ORIX

Market Cap: US$3.3t

Provides diversified financial services in Japan, the United States, Asia, Europe, Australasia, and the Middle East.

NewtekOne

Market Cap: US$283.3m

Operates as the bank holding company for Newtek Bank, National Association that provides various business and financial solutions under the Newtek and NewtekOne brands to the small- and medium-sized business market.

PennyMac Financial Services

Market Cap: US$5.0b

Through its subsidiaries, engages in the mortgage banking and investment management activities in the United States.

Enact Holdings

Market Cap: US$5.4b

Operates as a private mortgage insurance company in the United States.

Berkshire Hathaway

Market Cap: US$1.1t

Through its subsidiaries, engages in the insurance, freight rail transportation, and utility businesses worldwide.

Ready Capital

Market Cap: US$711.5m

Operates as a real estate finance company in the United States.