According to Capital Economics' calculations, U.S. companies are currently holding over $2.5 trillion in overseas accounts; that's a 20% increase from two years ago and equal to about 14% of the U.S. GDP, explains Jason Williams, contributing editor to Wealth Daily.

Donald Trump has suggested a tax holiday for companies holding cash offshore that would allow them to bring it back at a 10% tax rate.

Meanwhile, there are a bunch of tech companies with money parked overseas. But which would make the best investment, both from a cash repatriation perspective and from a value investing one?

So, I went digging through SEC reports, valuation ratios, financial statements, and price charts to find those that are the most attractively priced and would benefit the most from a tax holiday.

Alphabet (GOOGL), the parent of Google, is at trading at a nice discount that's sure to be made up in the very near future — tax holiday or not.

But if Alphabet is able to bring back the nearly $40 billion it has parked overseas (that's about 60% of its total cash), it becomes an even better buy at today's price.

With that money, the company could increase its share buyback program and return a solid chunk of change to investors.  Or it could reinvest the money within U.S. borders in order to grow its business even bigger. Either way, shareholders stand to benefit the most.

Also on my list is semiconductor and telecom equipment maker Qualcomm (QCOM). Its one of the biggest in its industry and has some of the best numbers to boot. It's undervalued when compared to industry peers and pays a dividend much higher than the average.

Plus, management has been able to grow revenues at an average rate of 13.16% over the past 10 years. Add to that the fact that 87% of Qualcomm's total cash holdings are offshore, and you've got a pretty enticing play on a tax holiday investment.

If the company were able to bring that $30 billion back home, there's no doubt it would be put to good use increasing the already large dividend and growing the company even more.

Finally, Cisco Systems (CSCO) managed to grow revenues at an average rate of about 6% a year over the past decade. Cisco has over 90% of its cash parked in overseas accounts.

That's about $53 billion it could return to shareholders and reinvest in domestic programs. And its P/E ratio is well below the industry average.

That means you can get a great company at a discounted price relative to its peers. Add in that 5% discount from the sell-off, and you're talking about quite an opportunity.

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By Jason Williams, Contributing Editor to Wealth Daily