Ivorian Automobiles Defensive Blue Chips

Semiconductor Manufacturing International

Market Cap: HK$778.7b

An investment holding company, engages in the manufacture, testing, and sale of integrated circuits wafer and various compound semiconductors in the United States, China, and Eurasia.

CVS Health

Market Cap: US$98.8b

Provides health solutions in the United States.

Enel

Market Cap: €84.5b

Operates as an integrated operator in electricity and gas industries worldwide.

BNP Paribas

Market Cap: €84.4b

Provides various banking and financial products and services in Europe, the Middle East, Africa, the Americas, and the Asia Pacific.

HCA Healthcare

Market Cap: US$97.1b

Through its subsidiaries, owns and operates hospitals and related healthcare entities in the United States.

AIA Group

Market Cap: HK$752.4b

Provides life insurance based financial services in Hong Kong.

AXA

Market Cap: €82.5b

Through its subsidiaries, insurance, asset management, and banking services worldwide.

China Yangtze Power

Market Cap: CN¥680.0b

Engages in hydropower generation business in China, Brazil, Germany, Malaysia, Pakistan, Peru, Portugal, and Sudan.

McKesson

Market Cap: US$95.0b

Provides healthcare services in the United States and internationally.

Postal Savings Bank of China

Market Cap: HK$720.0b

Provides various banking products and services for retail and corporate customers in the People’s Republic of China.

State Bank of India

Market Cap: ₹8.2t

Provides banking products and services in India and internationally.

Bank of Montreal

Market Cap: CA$126.1b

Engages in the provision of diversified financial services primarily in North America.

Tokyo Electron

Market Cap: JP¥13.4t

Develops, manufactures, and sells semiconductor production equipment in Japan, Europe, North America, Taiwan, China, South Korea, and internationally.

Westpac Banking

Market Cap: AU$132.7b

Provides banking and other financial services in Australia, New Zealand, the Pacific Islands, Asia, the Americas, and Europe.

National Australia Bank

Market Cap: AU$132.0b

Provides financial services to individuals and businesses in Australia, New Zealand, Europe, Asia, the United States, and internationally.

Advantest

Market Cap: JP¥13.0t

Manufactures and sells semiconductors, component test systems, and mechatronics-related products in Japan, the Americas, Europe, and Asia.

Münchener Rückversicherungs-Gesellschaft in München

Market Cap: €72.9b

Engages in the insurance and reinsurance businesses worldwide.

China Telecom

Market Cap: HK$655.0b

Provides mobile communications, wireline and satellite communications, internet access, cloud computing and computing power, AI, big data, quantum, ICT integration in the People’s Republic of China.

NTT

Market Cap: JP¥12.6t

Operates as a telecommunications company in Japan and internationally.

Cigna Group

Market Cap: US$80.3b

Provides insurance and related products and services in the United States.

Elevance Health

Market Cap: US$79.5b

Operates as a health benefits company in the United States.

Tokio Marine Holdings

Market Cap: JP¥12.0t

Engages in the non-life and life insurance, and financial and general businesses in Japan and internationally.

Hygon Information Technology

Market Cap: CN¥566.1b

Engages in the research and development of computing chip products and systems in China.

Bank of Communications

Market Cap: HK$616.8b

Provides commercial banking products and services in China and internationally.

Barito Renewables Energy

Market Cap: Rp1314.4t

Engages in the generation and sale of power through geothermal and wind resources in Indonesia.

Bank of Nova Scotia

Market Cap: CA$110.3b

Provides various banking products and services in Canada, the United States, Mexico, Peru, Chile, Colombia, the Caribbean and Central America, and internationally.

Nongfu Spring

Market Cap: HK$607.3b

Produces and sells packaged drinking water and beverage products primarily in Mainland China.

Econet Wireless Zimbabwe

Market Cap: US$10.1b

Through its subsidiaries, primarily provides mobile telecommunications and related overlay services in Zimbabwe.

Mizuho Financial Group

Market Cap: JP¥11.8t

Engages in banking, trust banking, securities, and other businesses related to financial services in Japan, the Americas, Europe, Asia/Oceania, and internationally.

CRH

Market Cap: US$77.8b

Provides building materials solutions in Ireland, the United States, the United Kingdom, rest of Europe, and internationally.

Aon

Market Cap: US$77.7b

A professional services firm, provides a range of risk and human capital solutions worldwide.

Arthur J. Gallagher

Market Cap: US$77.4b

Provides insurance and reinsurance brokerage, consulting, and third-party property/casualty claims settlement and administration services to entities and individuals worldwide.

Canadian Imperial Bank of Commerce

Market Cap: CA$103.9b

A diversified financial institution, provides various financial products and services to personal, business, public sector, and institutional clients in Canada, the United States, and internationally.

Cambricon Technologies

Market Cap: CN¥528.0b

Research, develops, design, and sells core chips in cloud server, edge computing, and terminal equipment in China.

Marvell Technology

Market Cap: US$73.8b

Provides data infrastructure semiconductor solutions, spanning the data center core to network edge.

CaixaBank

Market Cap: €63.6b

Provides various banking products and financial services in Spain and internationally.