U.S. Diversified Financials Undervalued based on future growth

MFA Financial

Market Cap: US$946.3m

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

Franklin BSP Realty Trust

Market Cap: US$816.9m

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.

Atlanticus Holdings

Market Cap: US$807.5m

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

TPG RE Finance Trust

Market Cap: US$705.1m

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.

LexinFintech Holdings

Market Cap: US$696.6m

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

Invesco Mortgage Capital

Market Cap: US$544.2m

Operates as a real estate investment trust (REIT) that invests, finances, and manages mortgage-backed securities and other mortgage-related assets in the United States.

Priority Technology Holdings

Market Cap: US$436.4m

Operates as a payment technology company in the United States.

Regional Management

Market Cap: US$375.1m

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.

Onity Group

Market Cap: US$344.9m

A financial services company, originates and services forward and reserve mortgage loans in the United States, the United States Virgin Islands, India, and the Philippines.

ITHAX Acquisition

Market Cap: US$312.6m

As of July 18, 2022, ITHAX Acquisition Corp.

NewtekOne

Market Cap: US$290.3m

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.

AG Mortgage Investment Trust

Market Cap: US$247.3m

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

Antalpha Platform Holding

Market Cap: US$232.3m

Provides financing, technology, and risk management solutions to the crypto asset industry.

Oportun Financial

Market Cap: US$212.7m

Provides financial services in the United States.

Consumer Portfolio Services

Market Cap: US$183.4m

Operates as a specialty finance company in the United States.

Silvercrest Asset Management Group

Market Cap: US$170.6m

A wealth management firm, provides financial advisory and related family office services in the United States.

Greystone Housing Impact Investors

Market Cap: US$162.2m

Acquires, holds, sells, and deals mortgage revenue bonds that are issued to provide construction and permanent financing for multifamily, student, and senior citizen housing, skilled nursing properties, and commercial properties in the United States.

Sunrise Realty Trust

Market Cap: US$126.3m

Engages in commercial real estate lending business in the United States.

Cherry Hill Mortgage Investment

Market Cap: US$87.5m

A residential real estate finance company, acquires, invests in, and manages residential mortgage assets in the United States.

Lument Finance Trust

Market Cap: US$78.0m

A real estate investment trust, focuses on investing in, financing, and managing a portfolio of commercial real estate (CRE) debt investments in the United States.

Heritage Global

Market Cap: US$44.5m

Operates as an asset services company with focus on financial and industrial asset transactions in the United States.