Ivorian Software Defensive Blue Chips

Celsius Holdings

Market Cap: US$14.6b

Develops, processes, manufactures, markets, sells, and distributes functional energy drinks in the United States, North America, Europe, the Asia Pacific, and internationally.

ASR Nederland

Market Cap: €12.5b

Provides insurance, pensions, and mortgages products and services for consumers, entrepreneurs, and employers in the Netherlands.

Union Bank of India

Market Cap: ₹1.3t

Provides banking products and services in India.

Etihad Etisalat

Market Cap: ر.س54.5b

Through its subsidiaries, establishes and operates mobile wireless telecommunication and fiber optic networks in the Kingdom of Saudi Arabia.

Tower Semiconductor

Market Cap: US$14.5b

An independent semiconductor foundry, provides technology, development, and process platforms for integrated circuits in the United States, Japan, rest of Asia, and Europe.

Woori Financial Group

Market Cap: ₩21.3t

Operates as a commercial bank which provides various financial services to individual, business, and institutional customers in Korea.

WH Group

Market Cap: HK$112.6b

An investment holding company, produces and sells packaged meats and pork in China, North America, and Europe.

Elia Group

Market Cap: €12.3b

Develops and operates as a transmission system operator in Belgium and Germany.

bioMérieux

Market Cap: €12.3b

Develops, manufactures, and markets in vitro diagnostic solutions for infectious diseases in France, Europe, Africa, the Middle East, North and South America, the Asia Pacific, and internationally.

Tokyo GasLtd

Market Cap: JP¥2.3t

Engages in the production, supply, and sale of city gas and LNG in Japan.

Israel Discount Bank

Market Cap: ₪45.0b

Provides various banking and financial services in Israel, Europe, and North America.

Kasikornbank

Market Cap: ฿447.8b

Provides commercial banking products and services in Thailand and internationally.

Mashreqbank PSC

Market Cap: د.إ52.2b

Provides various banking and financial services to individuals and corporates.

Fidelity National Financial

Market Cap: US$14.2b

Provides various insurance products in the United States.

ACM Research (Shanghai)

Market Cap: CN¥98.7b

Engages in the research, development, production, and sale of semiconductor equipment in China.

Oklo

Market Cap: US$14.1b

Develops advanced fission power plants to provide clean, reliable, and affordable energy at scale to the customers in the United States.

Brookfield Wealth Solutions

Market Cap: US$14.0b

Through its subsidiaries, provides retirement services, wealth protection products, and capital solutions to individuals and institutions.

Gjensidige Forsikring

Market Cap: NOK 138.2b

Provides general insurance and pension products in Norway, Sweden, Denmark, Finland, Latvia, Lithuania, and Estonia.

James Hardie Industries

Market Cap: AU$20.5b

Engages in the manufacture and sale of fiber cement, fiber gypsum, and cement bonded boards in the United States, Australia, Europe, and New Zealand.

Alibaba Health Information Technology

Market Cap: HK$108.9b

An investment holding company, engages in the pharmaceutical direct sales, pharmaceutical e-commerce platform, and healthcare and digital services businesses in Mainland China and Hong Kong.

Samsung Fire & Marine Insurance

Market Cap: ₩20.5t

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

Osaka Gas

Market Cap: JP¥2.2t

Provides gas, electricity, and other energy products and services in Japan and internationally.

Penumbra

Market Cap: US$13.9b

Designs, develops, manufactures, and markets medical devices in the United States and internationally.

Kerry Group

Market Cap: €11.9b

Provides taste and nutrition solutions.

Smith & Nephew

Market Cap: UK£10.3b

Develops, manufactures, markets, and sells medical devices and services in the United Kingdom, the United States, and internationally.

Commercial Bank for Investment and Development of Vietnam

Market Cap: ₫365.1t

Provides various banking products and services for individuals, corporate customers, and financial institutions in Vietnam.

Mapfre

Market Cap: €11.8b

Engages in the investment, insurance, property, financial, and services businesses in Spain.

Origin Energy

Market Cap: AU$20.2b

An integrated energy company, engages in the exploration and production of natural gas, electricity generation, wholesale and retail sale of electricity and gas, and sale of liquefied natural gas in Australia and internationally.

Ryan Specialty Holdings

Market Cap: US$13.8b

Operates as a service provider of specialty products and solutions for insurance brokers, agents, and carriers in the United States, Canada, the United Kingdom, rest of Europe, India, and Singapore.

Jiangsu Yanghe Distillery

Market Cap: CN¥95.7b

Offers liquors and wines.

S.P.E.E.H. Hidroelectrica

Market Cap: RON 58.9b

Produces and supplies hydro, wind, and energy electricity in Romania.

Phison Electronics

Market Cap: NT$427.7b

Designs, manufactures, and sells flash memory controllers and peripheral system applications in Asia, the United States, Europe, Australia, and internationally.

Hormel Foods

Market Cap: US$13.5b

Develops, processes, and distributes various meat, nuts, and other food products to foodservice, convenience store, and commercial customers in the United States and internationally.

Everest Group

Market Cap: US$13.4b

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

Nova

Market Cap: US$13.4b

Engages in the design, development, production, and sale of process control systems used in the manufacture of semiconductors in Taiwan, the United States, China, Korea, and internationally.

ING Bank Slaski

Market Cap: zł47.6b

Together with our subsidiaries, provides various banking products and services for retail clients and businesses in Poland.