German Software Defensive Blue Chips

Tokio Marine Holdings

Market Cap: JP¥11.7t

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

Monster Beverage

Market Cap: US$74.0b

Through its subsidiaries, engages in development, marketing, sale, and distribution of energy drink beverages and concentrates in the United States and internationally.

Oversea-Chinese Banking

Market Cap: S$93.5b

Provides financial services in Singapore, Malaysia, Indonesia, Greater China, rest of the Asia Pacific, and internationally.

Aon

Market Cap: US$73.0b

Operates as a professional services firm in the United States, rest of the Americas, the United Kingdom, Ireland, rest of Europe, the Middle East, Africa, and the Asia Pacific.

América Móvil. de

Market Cap: Mex$1.3t

Provides telecommunications services in Latin America and internationally.

Cigna Group

Market Cap: US$71.6b

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

CRH

Market Cap: US$71.1b

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

Nu Holdings

Market Cap: US$70.8b

Provides digital banking platform in Brazil, Mexico, Colombia, the Cayman Islands, and the United States.

Cambricon Technologies

Market Cap: CN¥487.0b

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

Cencora

Market Cap: US$69.7b

Cencora, Inc. sources and distributes pharmaceutical products in the United States and internationally.

Kioxia Holdings

Market Cap: JP¥10.9t

Engages in the development, production and sale of flash memory and solid state drives (SSDs) in Japan and internationally.

CBZ Holdings

Market Cap: US$8.8b

Provides various banking and financial products and services to retail and corporate customers in Zimbabwe.

Travelers Companies

Market Cap: US$66.2b

Through its subsidiaries, provides a range of commercial and personal property, and casualty insurance products and services to businesses, government units, associations, and individuals in the United States, Canada, and internationally.

Nongfu Spring

Market Cap: HK$515.3b

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

Saudi National Bank

Market Cap: ر.س242.2b

Through its subsidiaries, provides banking and investment management services in the Kingdom of Saudi Arabia and internationally.

KDDI

Market Cap: JP¥10.2t

Engages in the provision of mobile telecommunications services in Japan and internationally.

Singapore Telecommunications

Market Cap: S$82.4b

Provides telecommunication services to consumers and small businesses in Singapore, Australia, and internationally.

Japan Tobacco

Market Cap: JP¥10.1t

A tobacco company, manufactures and sells tobacco products, pharmaceuticals, and processed foods in Japan and internationally.

Elevance Health

Market Cap: US$63.9b

Operates as a health benefits company in the United States.

SoftBank

Market Cap: JP¥10.1t

Provides mobile communications and fixed-line telecommunications and ISP services in Japan.

JAPAN POST BANK

Market Cap: JP¥10.1t

Provides financial products and services in Japan and internationally.

Nordea Bank Abp

Market Cap: €53.1b

Offers banking products and services for individuals, families, and businesses in Sweden, Finland, Norway, Denmark, and internationally.

NatWest Group

Market Cap: UK£45.8b

Provides banking and financial products and services in the United Kingdom and internationally.

Barito Renewables Energy

Market Cap: Rp1033.5t

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

HOYA

Market Cap: JP¥9.6t

A med-tech company, provides high-tech and medical products internationally.

Sempra

Market Cap: US$60.5b

Engages in the regulated utilities business in the United States and Mexico.

Infineon Technologies

Market Cap: €51.3b

Develops, manufactures, and markets semiconductors and semiconductor-based solutions in Germany, Europe, the Middle East, Africa, Mainland China, Hong Kong, Taiwan, the Asia-Pacific, Japan, the United States, and the Americas.

Crédit Agricole

Market Cap: €50.8b

Provides retail and corporate banking, insurance, and investment banking products and services in France, Italy, rest of the European Union, rest of Europe, North America, Central and South America, Africa, the Middle East, the Asia Pacific, and Japan.

Arthur J. Gallagher

Market Cap: US$58.7b

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

Truist Financial

Market Cap: US$58.1b

A financial services company, provides banking and trust services in the Southeastern and Mid-Atlantic United States.

Assicurazioni Generali

Market Cap: €49.7b

Provides various insurance solutions under the Generali brand in the Americas, Italy, rest of Europe, Africa, the Middle East, Asia, and the Oceania.

Wuliangye YibinLtd

Market Cap: CN¥397.5b

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

Aflac

Market Cap: US$57.5b

Through its subsidiaries, provides supplemental health and life insurance products.

Société Générale Société anonyme

Market Cap: €49.3b

Provides banking and financial services to individuals, corporates, and institutional clients in Europe and internationally.

BOC Hong Kong (Holdings)

Market Cap: HK$447.0b

An investment holding company, provides banking and related financial services to corporate and individual customers in Hong Kong, China, and internationally.

Industrial Bank

Market Cap: CN¥391.9b

Provides banking products and services in the People’s Republic of China.