Spanish Software Defensive Blue Chips

Far EasTone Telecommunications

Market Cap: NT$366.1b

Provides mobile telecommunications services in Taiwan and internationally.

SG Micro

Market Cap: CN¥76.5b

Engages in the development, manufacturing and sales of comprehensive analog and mixed-signal integrated-circuit (IC) solutions in Mainland China, Hong Kong, Taiwan, and internationally.

Lotus Bakeries

Market Cap: €9.8b

Provides various snack products in Belgium and internationally.

United Nova TechnologyLtd

Market Cap: CN¥76.3b

Manufactures and markets power discrete and modules in China and internationally.

Guangdong Haid Group

Market Cap: CN¥76.1b

Research, develops, designs, produces, sells, and services animal feed products in China and internationally.

Mowi

Market Cap: NOK 106.7b

A seafood company, produces and sells Atlantic salmon products worldwide.

Turkiye Garanti Bankasi

Market Cap: ₺533.4b

Provides various banking products and services in Turkey.

Tata Consumer Products

Market Cap: ₹1.1t

Manufactures, distributes, and trades in food products in India, the United States, the United Kingdom, and internationally.

BUA Foods

Market Cap: ₦15.2t

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

Popular

Market Cap: US$11.1b

Through its subsidiaries, provides various retail, mortgage, and commercial banking services for individuals and businesses in Puerto Rico, the United States, the British Virgin Islands, the Caribbean, and Latin America.

Ambuja Cements

Market Cap: ₹1.1t

Manufactures, markets, and sells cement and related products to individual home builders, developers, institutional clients, masons, contractors, architects, and construction professionals in India.

UMB Financial

Market Cap: US$11.1b

Operates as a bank holding company that provides banking services and asset servicing in the United States and internationally.

Globus Medical

Market Cap: US$11.1b

Develops and commercializes healthcare solutions for patients with musculoskeletal disorders in the United States and internationally.

Quebecor

Market Cap: CA$15.4b

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

Saputo

Market Cap: CA$15.4b

Produces, markets, and distributes dairy products in Canada, the United States, Australia, and the United Kingdom.

Bangkok Bank

Market Cap: ฿365.5b

Provides various commercial banking products and services in Thailand and internationally.

Safaricom

Market Cap: KSh1.4t

Provides telecommunication services in Kenya and Ethiopia.

Discovery

Market Cap: R177.6b

Provides various insurance products and services primarily in South Africa and the United Kingdom.

Sichuan Chuantou EnergyLtd

Market Cap: CN¥74.2b

Engages in the clean energy business in China.

Ryan Specialty Holdings

Market Cap: US$11.0b

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, Singapore, and internationally.

China Zheshang Bank

Market Cap: HK$85.8b

Provides corporate and retail banking services in Mainland China.

BDO Unibank

Market Cap: ₱666.9b

Provides various banking products and services to individuals and corporations in the Philippines and internationally.

Commercial Bank for Investment and Development of Vietnam

Market Cap: ₫284.7t

Provides various banking products and services in Vietnam and internationally.

Globalstar

Market Cap: US$10.8b

Provides mobile satellite services in the United States, Canada, Europe, Central and South America, and internationally.

Budweiser Brewing Company APAC

Market Cap: HK$84.7b

An investment holding company, engages in brewing and distribution of beer in South Korea, Japan, New Zealand, China, India, Vietnam, Southeast Asia, and internationally.

Wintrust Financial

Market Cap: US$10.7b

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

Orkla

Market Cap: NOK 101.3b

Operates as an industrial investment company within brands and consumer-oriented businesses worldwide.

Glaukos

Market Cap: US$10.6b

An ophthalmic pharmaceutical and medical technology company, develops therapies for the treatment of glaucoma, corneal disorders, and retinal diseases in the United States and internationally.

Vienna Insurance Group

Market Cap: €9.2b

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

Max Healthcare Institute

Market Cap: ₹1.0t

Provides medical and healthcare services in India.

Ensign Group

Market Cap: US$10.6b

Provides skilled nursing, senior living, and rehabilitative services.

Chongqing Rural Commercial Bank

Market Cap: HK$82.7b

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

SouthState Bank

Market Cap: US$10.5b

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.

Unicaja Banco

Market Cap: €9.0b

Engages in the retail banking business in Spain.

J Sainsbury

Market Cap: UK£7.7b

Engages in the food, general merchandise and clothing retailing, and financial services activities in the United Kingdom.

Rambus

Market Cap: US$10.4b

Manufactures and sells semiconductor products in the United States, South Korea, Singapore, and internationally.