Bermudian Materials Defensive Blue Chips

HOYA

Market Cap: JP¥7.9t

A med-tech company, provides high-tech and medical products in the Japan, Asia, the Americas, Europe, and internationally.

Kuwait Finance House K.S.C.P

Market Cap: د.ك15.1b

Provides Islamic banking products and services in the Middle East, Europe, and internationally.

Astera Labs

Market Cap: US$48.4b

Designs, manufactures, and sells semiconductor-based connectivity solutions for cloud and AI infrastructure in Taiwan and the United States.

Wal-Mart de México. de

Market Cap: Mex$839.6b

Owns and operates self-service stores in Mexico and Central America.

Endesa

Market Cap: €42.2b

Engages in the generation, distribution, and sale of electricity in Spain, Portugal, France, Germany, the United Kingdom, Switzerland, Luxembourg, the Netherlands, Singapore, Italy, Morocco, and internationally.

Edwards Lifesciences

Market Cap: US$47.8b

Provides products and technologies to treat advanced cardiovascular diseases in the United States, Europe, Japan, and internationally.

Commerzbank

Market Cap: €40.6b

Provides banking and capital market products and services to private and small business customers, corporate, financial service providers, and institutional clients in Germany, rest of Europe, the Americas, and Asia.

Sun Life Financial

Market Cap: CA$65.3b

A financial services company, provides asset management, wealth, insurance and health solutions to individual and institutional customers in Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia, and Bermuda.

Emirates Telecommunications Group Company PJSC

Market Cap: د.إ169.6b

Provides telecommunications services, media, and related equipment in the United Arab Emirates and internationally.

PICC Property and Casualty

Market Cap: HK$360.8b

Engages in property and casualty insurance business in People’s Republic of China.

Siemens Healthineers

Market Cap: €40.2b

Through its subsidiaries, develops, manufactures, and sells a range of diagnostic and therapeutic products and services to healthcare providers in Germany, the United States, rest of Europe, CIS, Africa, the Middle East, the Americas, the Asia Pacific, Japan, and China.

Humana

Market Cap: US$45.8b

Provides medical and specialty insurance products in the United States.

Shanghai Pudong Development Bank

Market Cap: CN¥306.1b

Provides commercial banking products and services in China and internationally.

STMicroelectronics

Market Cap: €39.7b

Designs, develops, manufactures, and sells semiconductor products in Europe, the Middle East, Africa, the Americas, and the Asia Pacific.

People's Insurance Company (Group) of China

Market Cap: HK$354.1b

An investment holding company, offers insurance products and services in the People’s Republic of China and Hong Kong.

DNB Bank

Market Cap: NOK 435.7b

Provides financial services to individuals and businesses in Norway and internationally.

IDEXX Laboratories

Market Cap: US$44.9b

Develops, manufactures, and distributes products for the companion animal veterinary, livestock and poultry, dairy, and water testing industries in the United States and internationally.

RWE

Market Cap: €39.4b

Generates and supplies electricity from renewable and conventional sources in Germany, the United Kingdom, rest of Europe, North America, and internationally.

MS&AD Insurance Group Holdings

Market Cap: JP¥7.3t

An insurance holding company, engages in the provision of insurance and financial services worldwide.

Danske Bank

Market Cap: DKK 292.3b

Provides various banking products and services to corporate, institutional, and international clients.

MetaX Integrated Circuits (Shanghai)

Market Cap: CN¥300.9b

MetaX Integrated Circuits (Shanghai) Co., Ltd.

Skandinaviska Enskilda Banken

Market Cap: SEK 427.6b

Provides corporate, retail, investment, and private banking services.

United Microelectronics

Market Cap: NT$1.4t

Operates as a semiconductor wafer foundry in Taiwan, China, Hong Kong, Japan, Korea, the United States, Europe, and internationally.

Becton Dickinson

Market Cap: US$43.8b

Develops, manufactures, and sells medical supplies, devices, laboratory equipment, and diagnostic products for healthcare institutions, physicians, life science researchers, clinical laboratories, pharmaceutical industry, and the general public worldwide.

Cerebras Systems

Market Cap: US$43.6b

Operates as an artificial intelligence infrastructure company.

Swedbank

Market Cap: SEK 418.8b

Provides banking products and services to private and corporate customers in Sweden, Estonia, Latvia, Lithuania, Norway, the United States, Finland, Denmark, Luxembourg, and China.

Cathay Financial Holding

Market Cap: NT$1.4t

Through its subsidiaries, provides various financial products and services in Taiwan, rest of Asia, and internationally.

Wuliangye YibinLtd

Market Cap: CN¥290.3b

Manufactures and sells liquor and wine products and related auxiliary products under the Wuliangye brand in China.

China Pacific Insurance (Group)

Market Cap: CN¥289.0b

Provides insurance products to in the People’s Republic of China.

Qatar National Bank (Q.P.S.C.)

Market Cap: ر.ق154.2b

Provides conventional and Islamic banking products and services in Qatar, Europe, North America, rest of GCC countries, and internationally.

Microchip Technology

Market Cap: US$42.3b

Develops, manufactures, and sells smart, connected, and secure embedded control solutions in the Americas, Europe, and Asia.

Keurig Dr Pepper

Market Cap: US$42.3b

Owns, manufactures, and distributors beverages and single serve brewing systems in the United States and internationally.

ASM International

Market Cap: €37.0b

Engages in the research, development, manufacturing, marketing, and servicing of equipment and materials used to produce semiconductor devices in the United States, Europe, and Asia.

Bank Central Asia

Market Cap: Rp764.9t

Provides commercial banking and other financial services.

American International Group

Market Cap: US$42.0b

Provides insurance products for commercial, institutional, and individual customers in North America and internationally.

Daiichi Life Group

Market Cap: JP¥6.9t

Through its subsidiaries, provides insurance products in Japan, the United States, and internationally.