Chinese Software Defensive Blue Chips

Loews

Market Cap: US$22.3b

Through its subsidiaries, provides commercial property and casualty insurance in the United States and internationally.

Quest Diagnostics

Market Cap: US$21.9b

Provides diagnostic testing and services in the United States.

Coca-Cola HBC

Market Cap: UK£16.5b

Engages in the production, sale, and distribution of non-alcoholic ready-to-drink beverages under franchise in Switzerland, West Coast of Ireland, Central and Eastern Europe, Nigeria, and internationally.

Sigma Healthcare

Market Cap: AU$30.9b

Operates as a retail pharmacy franchisor and pharmaceutical wholesale and distributor to community pharmacies primarily in Australia.

AIB Group

Market Cap: €19.1b

Provides banking and financial products and services to personal, business, and corporate customers in the Republic of Ireland, the United Kingdom, and internationally.

QBE Insurance Group

Market Cap: AU$30.9b

Engages in underwriting general insurance and reinsurance risks in the Australia Pacific, North America, and internationally.

Labcorp Holdings

Market Cap: US$21.7b

Provides laboratory services.

Credo Technology Group Holding

Market Cap: US$21.7b

Provides various high-speed connectivity solutions for optical and electrical Ethernet, and PCIe applications in the United States, Taiwan, Mainland China, Hong Kong, and internationally.

Regions Financial

Market Cap: US$21.6b

A financial holding company, provides various banking and related products and services to individual and corporate customers.

Fortum Oyj

Market Cap: €18.9b

Engages in the generation and sale of electricity and heat to private and business customers in Finland, Sweden, Norway, Poland, and internationally.

Sumitomo Mitsui Trust Group

Market Cap: JP¥3.4t

Operates as a trust bank in Japan and internationally.

CIMB Group Holdings Berhad

Market Cap: RM 84.3b

Provides various banking products and services in Malaysia and internationally.

Dollar Tree

Market Cap: US$21.4b

Operates retail discount stores under the Dollar Tree and Dollar Tree Canada brands in the United States and Canada.

Tyson Foods

Market Cap: US$21.2b

Operates as a food company worldwide.

Banco Santander (Brasil)

Market Cap: R$112.9b

Provides various banking products and services to individuals, small and medium enterprises, and corporate customers in Brazil and internationally.

Koninklijke KPN

Market Cap: €18.6b

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

JD Health International

Market Cap: HK$165.2b

An investment holding company, engages in the operation of an online healthcare platform in the People’s Republic of China.

Lasertec

Market Cap: JP¥3.4t

Engages in the design, manufacture, and sale of inspection and measurement equipment in Japan, South Korea, Taiwan, Other Asia, the United States.

STERIS

Market Cap: US$21.0b

Provides infection prevention products and services worldwide.

First Solar

Market Cap: US$21.0b

A solar technology company, provides photovoltaic (PV) solar energy solutions in the United States, France, India, Chile, and internationally.

Heineken Holding

Market Cap: €18.3b

Engages in brewing and selling beer and cider in the Netherlands, Europe, the Americas, Africa & Middle East, Asia Pacific and internationally.

First Citizens BancShares

Market Cap: US$20.9b

Operates as the holding company for First-Citizens Bank & Trust Company that provides retail and commercial banking services to individuals, businesses, and professionals in the United States and internationally.

US Foods Holding

Market Cap: US$20.9b

US Foods Holding Corp., together with its subsidiaries, markets, sells, and distributes fresh, frozen, and dry food and non-food products to foodservice customers in the United States.

SBI Life Insurance

Market Cap: ₹1.9t

Operates as a private life insurance company in India.

KeyCorp

Market Cap: US$20.6b

Operates as the holding company for KeyBank National Association that provides various retail and commercial banking products and services in the United States.

CK Infrastructure Holdings

Market Cap: HK$161.3b

An infrastructure company, invests in, develops, and operates infrastructure businesses in Hong Kong, Mainland China, the United Kingdom, Continental Europe, Australia, New Zealand, Canada, and the United States.

Astera Labs

Market Cap: US$20.5b

Designs, manufactures, and sells semiconductor-based connectivity solutions for cloud and AI infrastructure.

LONGi Green Energy Technology

Market Cap: CN¥141.2b

Manufactures and sells photovoltaic products in China, Europe, the Asia Pacific, and the United States.

Bank of Shanghai

Market Cap: CN¥141.0b

Provides various banking products and services in China.

Coca-Cola FEMSA. de

Market Cap: US$20.4b

A franchise bottler, produces, markets, sells, and distributes Coca-Cola trademark beverages in Mexico, Guatemala, Nicaragua, Costa Rica, Panama, Colombia, Brazil, Argentina, and Uruguay.

Bank of Nanjing

Market Cap: CN¥140.1b

Provides various financial products and services in China.

IHH Healthcare Berhad

Market Cap: RM 78.6b

An investment holding company, offers healthcare services in Malaysia, Singapore, Turkey, India, China, Japan, Europe, and internationally.

OmniVision Integrated Circuits Group

Market Cap: CN¥137.4b

OmniVision Integrated Circuits Group, Inc.

MTN Group

Market Cap: R334.8b

Provides mobile telecommunications services in South Africa, Nigeria, South and East Africa, West and Central Africa, and the Middle East and North Africa.

Humana

Market Cap: US$19.9b

Provides medical and specialty insurance products in the United States.

Tenet Healthcare

Market Cap: US$19.8b

Operates as a diversified healthcare services company in the United States.