Chinese Software Defensive Blue Chips

Insulet

Market Cap: US$10.5b

Develops, manufactures, and sells insulin delivery systems for people with insulin-dependent diabetes in the United States and internationally.

Molina Healthcare

Market Cap: US$10.5b

Provides managed healthcare services to low-income families and individuals under the Medicaid and Medicare programs and through the state insurance marketplaces in the United States.

Caixa Seguridade Participações

Market Cap: R$54.2b

Provides insurance products in Brazil and internationally.

Vienna Insurance Group

Market Cap: €8.9b

Engages in providing insurance products and services in Austria and internationally.

SouthState Bank

Market Cap: US$10.4b

Operates as the bank holding company for SouthState Bank, National Association that provides a range of banking services and products to individuals and companies in the United States.

Banca Transilvania

Market Cap: RON 46.5b

Provides various banking products and services in Romania, Italy, and the Republic of Moldova.

Wintrust Financial

Market Cap: US$10.3b

A financial holding company, provides community-oriented, personal, and commercial banking services in the United States.

Quebecor

Market Cap: CA$14.3b

Engages in the telecommunications, media, and sports and entertainment businesses in Canada.

Skyworks Solutions

Market Cap: US$10.3b

Develops, manufactures, and markets analog and mixed-signal semiconductor products and solutions in the United States, Taiwan, China, South Korea, Europe, the Middle East, Africa, and the Asia Pacific.

bioMérieux

Market Cap: €8.8b

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.

Cullen/Frost Bankers

Market Cap: US$10.2b

Operates as the bank holding company for Frost Bank that provides commercial and consumer banking services in Texas.

Boubyan Bank K.S.C.P

Market Cap: د.ك3.1b

Provides various banking products and services in Kuwait, the Middle East, North Africa, Europe, the United Kingdom, and internationally.

Konfoong Materials International

Market Cap: CN¥68.5b

Konfoong Materials International Co., Ltd.

Shoprite Holdings

Market Cap: R164.0b

An investment holding company, engages in the food retail and wholesale business in South Africa and internationally.

BIM Birlesik Magazalar

Market Cap: ₺487.4b

Operates retail stores in Turkey, Morocco, and Egypt.

Indus Towers

Market Cap: ₹972.6b

A telecom infrastructure company, engages in the operation and maintenance of wireless communication towers and related infrastructures for various telecom service providers in India, Nigeria, Uganda, and Zambia.

BUA Foods

Market Cap: ₦13.7t

Processes, manufactures, produces, and distributes food materials in Nigeria.

Max Healthcare Institute

Market Cap: ₹972.0b

Provides medical and healthcare services in India.

Universal Health Services

Market Cap: US$10.2b

Through its subsidiaries, owns and operates acute care hospitals, and outpatient and behavioral health care facilities in the United States.

Tingyi (Cayman Islands) Holding

Market Cap: HK$79.1b

An investment holding company, manufactures and sells instant noodles, beverages, and instant food products in the People’s Republic of China.

Bank Albilad

Market Cap: ر.س37.8b

Through its subsidiaries, provides various banking products and services in the Kingdom of Saudi Arabia.

Novatek Microelectronics

Market Cap: NT$320.7b

A fabless chip design company, designs, develops and sells a range of display driver integrated circuits (IC) and system-on-a-chip (SoC) solutions in Taiwan, Asia, and internationally.

Kesko Oyj

Market Cap: €8.6b

Engages in the chain operations in Finland, Sweden, Norway, Estonia, Latvia, Lithuania, Denmark, and Poland.

Old Republic International

Market Cap: US$10.0b

Through its subsidiaries, provides insurance underwriting and related services in the United States and Canada.