Hong Kong Food, Beverage & Tobacco Defensive Blue Chips

Encompass Health

Market Cap: US$11.3b

Provides post-acute healthcare services in the United States and Puerto Rico.

Dino Polska

Market Cap: zł41.5b

Operates a network of medium-sized grocery supermarkets under the Dino brand in Poland.

Assurant

Market Cap: US$11.2b

Provides protection services to connected devices, homes, and automobiles in North America, Latin America, Europe, and the Asia Pacific.

Mowi

Market Cap: NOK 115.2b

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

Cochlear

Market Cap: AU$17.5b

Provides implantable hearing solutions for children and adults worldwide.

Saputo

Market Cap: CA$15.8b

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

Globus Medical

Market Cap: US$11.2b

A medical device company, develops and commercializes healthcare solutions for patients with musculoskeletal disorders in the United States and internationally.

Chubu Electric Power Company

Market Cap: JP¥1.8t

Engages in the generation, transmission, distribution, and retail of electricity in Japan and internationally.

SinoPac Financial Holdings

Market Cap: NT$350.5b

Through its subsidiaries, provides banking, securities, investment, leasing, and venture capital services worldwide.

BE Semiconductor Industries

Market Cap: €9.7b

Develops, manufactures, markets, sells, and services semiconductor assembly equipment for the semiconductor and electronics industries in the Netherlands, Switzerland, Austria, Singapore, Malaysia, and internationally.

ICICI Lombard General Insurance

Market Cap: ₹997.6b

Provides various general insurance products and services in India.

Italgas

Market Cap: €9.7b

Engages in the distribution of natural gas in Italy, Greece, and Other European Union countries.

Penumbra

Market Cap: US$11.1b

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

Tower Semiconductor

Market Cap: US$11.1b

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

Anhui Gujing Distillery

Market Cap: CN¥78.4b

Engages in the production and sale of distilled wine in the People’s Republic of China and internationally.

Sanlam

Market Cap: R191.1b

Provides various financial solutions to individual, business, and institutional clients in South Africa, rest of Africa, Asia, and internationally.

Ooredoo Q.P.S.C

Market Cap: ر.ق40.0b

Provides telecommunications services in Qatar, rest of the Middle East, Asia, and North Africa region.

Banque Saudi Fransi

Market Cap: ر.س41.1b

Provides banking and financial services for individuals and businesses in the Kingdom of Saudi Arabia and internationally.

Industrial Bank of Korea

Market Cap: ₩16.1t

Operates as a small and medium-sized enterprise (SME) financing bank in Korea and internationally.

TIM

Market Cap: R$58.4b

A telecommunications company, provides mobile, fixed, long-distance, data transmission, and broadband services in Brazil.

Old Republic International

Market Cap: US$10.9b

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

Severn Trent

Market Cap: UK£8.3b

Provides water and wastewater services in the United Kingdom.

Tsingtao Brewery

Market Cap: CN¥77.6b

Engages in the production, distribution, wholesale, and retail sale of beer products in Mainland China, Hong Kong, Macau, and internationally.

Maplebear

Market Cap: US$10.9b

Maplebear Inc., doing business as Instacart, engages in the provision of online grocery shopping services to households in North America.

Bank Albilad

Market Cap: ر.س40.7b

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

Bank Permata

Market Cap: Rp180.9t

Provides various banking products and services in Indonesia.

iA Financial

Market Cap: CA$15.1b

Provides insurance and wealth management services for individual and group basis in Canada and the United States.

Marico

Market Cap: ₹960.1b

Manufactures and sells branded consumer products in India, Bangladesh, Vietnam, and internationally.

BKW

Market Cap: CHF 8.6b

An international energy and infrastructure company, plans, builds, and operates infrastructure to produce and supply energy to businesses, households, and the public sector in Switzerland, Germany, Italy, France, and internationally.

Shree Cement

Market Cap: ₹955.4b

Engages in the manufacture and sale of cement and clinker in India and internationally.

VeriSilicon Microelectronics (Shanghai)

Market Cap: CN¥75.8b

Provides platform-based custom silicon and semiconductor IP licensing services in China and internationally.

Tele2

Market Cap: SEK 101.6b

Provides fixed and mobile connectivity and entertainment services in Sweden, Lithuania, Latvia, and Estonia.

Celsius Holdings

Market Cap: US$10.6b

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

Hippo Valley Estates

Market Cap: US$1.4b

Together with its subsidiary, Chiredzi Township (Private) Limited, engages in the growing and milling of sugar cane in Zimbabwe and internationally.

Acciona

Market Cap: €9.2b

Engages in the energy, infrastructure, and other businesses in Spain and internationally.

Itissalat Al-Maghrib (IAM)

Market Cap: د.م98.5b

Provides various telecommunication solutions in Morocco and internationally.