U.S. Diversified Financials Undervalued based on future growth

Kaspi.kz

Market Cap: US$15.6b

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

Equitable Holdings

Market Cap: US$15.2b

Together with its consolidated subsidiaries, operates as a diversified financial services company worldwide.

Annaly Capital Management

Market Cap: US$13.2b

A diversified capital manager, engages in the mortgage finance business.

Stifel Financial

Market Cap: US$11.7b

Operates as the bank holding company for Stifel, Nicolaus & Company, Incorporated that provides retail and institutional wealth management, and investment banking services to individual investors, corporations, municipalities, and institutions in the United States and internationally.

Mr. Cooper Group

Market Cap: US$9.9b

Operates as a non-bank servicer of residential mortgage loans in the United States.

AGNC Investment

Market Cap: US$9.8b

Provides private capital to housing market in the United States.

OneMain Holdings

Market Cap: US$6.9b

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

Voya Financial

Market Cap: US$6.7b

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

SLM

Market Cap: US$6.6b

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.

Rithm Capital

Market Cap: US$6.5b

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

Credit Acceptance

Market Cap: US$5.9b

Engages in the provision of financing programs, and related products and services in the United States.

Lazard

Market Cap: US$5.0b

Operates as a financial advisory and asset management firm in the Americas, Europe, the Middle East, Africa, and the Asia Pacific.

PennyMac Financial Services

Market Cap: US$4.9b

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

Victory Capital Holdings

Market Cap: US$4.7b

Operates as an asset management company in the United States and internationally.

Qfin Holdings

Market Cap: US$4.6b

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.

BGC Group

Market Cap: US$4.6b

Operates as a financial brokerage and technology company in the United States, Europe, the Middle East, Africa, and the Asia Pacific.

Hercules Capital

Market Cap: US$3.3b

A business development company.

Burford Capital

Market Cap: US$2.8b

Provides legal finance products and services worldwide.

Enova International

Market Cap: US$2.6b

A technology and analytics company, provides online financial services in the United States, Brazil, and internationally.

PagSeguro Digital

Market Cap: US$2.4b

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

FinVolution Group

Market Cap: US$2.2b

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

NCR Atleos

Market Cap: US$2.0b

A financial technology company, provides self-directed banking solutions to financial institutions, merchants, manufacturers, retailers, and consumers in the United States, rest of the Americas, Europe, the Middle East, Africa, and the Asia Pacific.

LendingClub

Market Cap: US$1.8b

Operates as a bank holding company, that provides range of financial products and services in the United States.

Dynex Capital

Market Cap: US$1.6b

A mortgage real estate investment trust, invests in mortgage-backed securities (MBS) in the United States.

Merchants Bancorp

Market Cap: US$1.4b

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

Navient

Market Cap: US$1.3b

Provides technology-enabled education finance and business processing solutions for education, health care, and government clients in the United States.

Capital Southwest

Market Cap: US$1.3b

A business development company specializing in credit and private equity and venture capital investments in middle market companies, mezzanine, later stage, mature, late venture, emerging growth, buyouts, industry consolidation, recapitalizations and growth capital investments.

Guild Holdings

Market Cap: US$1.2b

Through its subsidiary, originates, sells, and services residential mortgage loans in the United States.

LexinFintech Holdings

Market Cap: US$1.0b

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

PennyMac Mortgage Investment Trust

Market Cap: US$1.0b

Through its subsidiary, primarily invests in residential mortgage-related assets in the United States.

Franklin BSP Realty Trust

Market Cap: US$831.0m

A real estate finance company, originates, acquires, and manages a portfolio of commercial real estate debt investments secured by properties located in the United States and internationally.

EZCORP

Market Cap: US$811.1m

Provides pawn services in the United States and Latin America.

Atlanticus Holdings

Market Cap: US$749.5m

A financial technology company, provides products and services to lenders in the United States.

TPG RE Finance Trust

Market Cap: US$683.7m

A commercial real estate finance company, originates, acquires, and manages commercial mortgage loans and other commercial real estate-related debt instruments in the United States.

PRA Group

Market Cap: US$616.3m

A financial services company, engages in the purchase, collection, and management of portfolios of nonperforming loans worldwide.

New York Mortgage Trust

Market Cap: US$571.6m

Acquires, invests in, finances, and manages mortgage-related single-family and multi-family residential assets in the United States.