Bermudian Materials Defensive Blue Chips

Shanghai Iluvatar CoreX Semiconductor

Market Cap: HK$151.8b

Shanghai Iluvatar CoreX Semiconductor Co., Ltd.

NMBZ Holdings

Market Cap: US$2.5b

Provides various banking products and services to corporate and individual customers in Zimbabwe.

Bank of Shanghai

Market Cap: CN¥130.2b

Provides various banking products and services in China.

Alinma Bank

Market Cap: ر.س71.6b

Provides banking and investment services in the Kingdom of Saudi Arabia.

Banco de Sabadell

Market Cap: €16.7b

Provides banking products and services in Spain, the United Kingdom, and Mexico.

Straumann Holding

Market Cap: CHF 15.4b

Provides tooth replacement and orthodontic solutions in Switzerland, the United States, China, Germany, Brazil, Japan, France, and internationally.

BE Semiconductor Industries

Market Cap: €16.6b

Develops, manufactures, markets, sells, and services semiconductor assembly equipment for the semiconductor and electronics industries in the Netherlands, Switzerland, Austria, Singapore, Malaysia, and internationally.

ASPEED Technology

Market Cap: NT$611.1b

Operates as a fabless integrated circuit (IC) design company in Taiwan, China, the United States, and internationally.

Telenor

Market Cap: NOK 181.8b

Operates as a telecommunication company worldwide.

Associated British Foods

Market Cap: UK£14.1b

Engages in the food, ingredients, and retail businesses worldwide.

Wilmar International

Market Cap: S$24.0b

Operates as an agribusiness company in Singapore, the People's Republic of China, Indonesia, Malaysia, Australia, Europe, South Africa, Nigeria, Vietnam, India, and internationally.

Pernod Ricard

Market Cap: €16.3b

Produces and sells wines and spirits worldwide.

Wilson Bank Holding

Market Cap: US$18.4b

Operates as the bank holding company for Wilson Bank and Trust that provides various banking services to consumers, professionals, small businesses, and municipalities in the United States.

SCREEN Holdings

Market Cap: JP¥3.0t

Develops, manufactures, and markets semiconductor production equipment in Japan, Taiwan, South Korea, China, the United States, Europe, and internationally.

Samsung Fire & Marine Insurance

Market Cap: ₩26.7t

Provides non-life insurance products and services in South Korea, China, Indonesia, Vietnam, Singapore, the United States, and the United Kingdom.

Luzhou LaojiaoLtd

Market Cap: CN¥123.2b

Produces and sells alcoholic products in China and internationally.

Telia Company

Market Cap: SEK 177.0b

Provides communication services to businesses, individuals, families, and communities in Sweden, Finland, Norway, Denmark, Lithuania, Estonia, and Latvia.

Saudi Awwal Bank

Market Cap: ر.س68.3b

Provides banking and financial services in the Kingdom of Saudi Arabia.

Vodacom Group

Market Cap: R304.2b

Provides communications products and services in South Africa, Egypt, Kenya, and internationally.

E.SUN Financial Holding Company

Market Cap: NT$588.7b

Offers various financial banking products and services in Taiwan.

Krung Thai Bank

Market Cap: ฿608.0b

Engages in commercial banking business in Thailand and internationally.

Erste Bank Polska

Market Cap: zł68.7b

Provides various banking products and services for individuals, small or medium-sized enterprises, corporate clients, and public sector institutions.

SinoPac Financial Holdings

Market Cap: NT$585.4b

Through its subsidiaries, provides banking services worldwide.

IHH Healthcare Berhad

Market Cap: RM 73.7b

An investment holding company, provides healthcare services in Singapore, Malaysia, India, Greater China, Japan, Türkiye and Europe, and internationally.

Eurobank

Market Cap: €15.8b

Provides retail, corporate and private banking, asset management, treasury and capital market, and other services in Greece, Bulgaria, Cyprus, and Luxembourg.

East West Bancorp

Market Cap: US$17.9b

Operates as the bank holding company for East West Bank that provides a range of personal and commercial banking services to businesses and individuals in the United States.

Hippo Valley Estates

Market Cap: US$2.3b

Together with its subsidiary, Chiredzi Township (Private) Limited, engages in the growing and milling of sugar cane in Zimbabwe and internationally.

Banco Comercial Português

Market Cap: €15.7b

Engages in the provision of various banking and financial products and services in Portugal and internationally.

Federal Home Loan Mortgage

Market Cap: US$17.8b

Operates in the secondary mortgage market in the United States.

Koninklijke KPN

Market Cap: €15.7b

Provides telecommunications and information technology (IT) services in the Netherlands.

Telecom Italia

Market Cap: €15.6b

Engages in the fixed and mobile telecommunications services and products for individuals, households, and supports small and medium-sized enterprises in Italy and internationally.

Hua Nan Financial Holdings

Market Cap: NT$576.2b

Provides financial services in Taiwan and internationally.

CEMEX. de

Market Cap: Mex$309.6b

Engages in the production, marketing, distribution, and sale of cement, ready-mix concrete, aggregates, urbanization solutions, and other construction materials and services worldwide.

Zimmer Biomet Holdings

Market Cap: US$17.7b

Operates as a medical technology company worldwide.

Lattice Semiconductor

Market Cap: US$17.6b

Develops and sells semiconductor, silicon-based and silicon-enabling, evaluation boards, and development hardware products in Asia, Europe, and the Americas.

Performance Food Group

Market Cap: US$17.5b

Through its subsidiaries, engages in the marketing and distribution of food and food-related products in North America.