U.S. Diversified Financials Undervalued based on future growth

Apollo Global Management

Market Cap: US$76.0b

A private equity firm specializing in investments in credit, private equity, infrastructure, secondaries and real estate markets.

Corebridge Financial

Market Cap: US$15.7b

Provides retirement solutions and insurance products in the United States.

Annaly Capital Management

Market Cap: US$14.8b

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

Kaspi.kz

Market Cap: US$14.1b

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

Ally Financial

Market Cap: US$12.1b

A digital financial-services company, provides various digital financial products and services in the United States, Canada, and Bermuda.

AGNC Investment

Market Cap: US$11.0b

Provides private capital to housing market in the United States.

Invesco

Market Cap: US$10.5b

A publicly owned investment manager.

OneMain Holdings

Market Cap: US$7.1b

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.

PennyMac Financial Services

Market Cap: US$6.6b

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

Shift4 Payments

Market Cap: US$6.3b

Engages in the provision of software and payment processing solutions in the United States and internationally.

Rithm Capital

Market Cap: US$6.1b

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

Lazard

Market Cap: US$4.8b

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

Moelis

Market Cap: US$4.7b

Operates as an investment banking advisory company in North and South America, Europe, the Middle East, Asia, and Australia.

Victory Capital Holdings

Market Cap: US$4.0b

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

Enova International

Market Cap: US$3.2b

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

Blackstone Mortgage Trust

Market Cap: US$3.1b

A real estate finance company, originates senior loans collateralized by commercial properties in North America, Europe, and Australia.

Euronet Worldwide

Market Cap: US$3.0b

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

NCR Atleos

Market Cap: US$2.7b

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.

Marex Group

Market Cap: US$2.5b

A financial services platform provider company, provides liquidity, market access, and infrastructure services to clients in the energy, commodities, and financial markets in the United Kingdom, the United States, and internationally.

Walker & Dunlop

Market Cap: US$2.3b

Through its subsidiaries, originates, sells, and services a range of multifamily and other commercial real estate financing products and services for owners and developers of real estate in the United States.

LendingClub

Market Cap: US$2.2b

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

Dynex Capital

Market Cap: US$2.0b

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

Sezzle

Market Cap: US$2.0b

Operates as a technology-enabled payments company primarily in the United States and Canada.

Burford Capital

Market Cap: US$2.0b

Provides legal finance products and services worldwide.

ARMOUR Residential REIT

Market Cap: US$1.9b

Invests in residential mortgage-backed securities (MBS) in the United States.

WisdomTree

Market Cap: US$1.6b

Through its subsidiaries, operates as an exchange-traded funds (ETFs) sponsor and asset manager.

FinVolution Group

Market Cap: US$1.6b

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

Merchants Bancorp

Market Cap: US$1.5b

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

Ellington Financial

Market Cap: US$1.4b

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.

Donnelley Financial Solutions

Market Cap: US$1.3b

Provides innovative software and technology-enabled financial regulatory and compliance solutions in the United States, Asia, Europe, Canada, and internationally.

Capital Southwest

Market Cap: US$1.2b

Specializes 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.

Trinity Capital

Market Cap: US$1.1b

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

Orchid Island Capital

Market Cap: US$1.1b

A specialty finance company, invests in residential mortgage-backed securities (RMBS) in the United States.

PennyMac Mortgage Investment Trust

Market Cap: US$1.1b

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

MFA Financial

Market Cap: US$947.4m

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