Hong Kong Software Defensive Blue Chips

Fubon Financial Holding

Market Cap: NT$1.2t

Provides various financial services in Taiwan, Asia, and internationally.

Alcon

Market Cap: CHF 30.0b

Researches, develops, manufactures, distributes, and sells eye care products worldwide.

Moore Threads Technology

Market Cap: CN¥261.9b

Engages in the development of GPU chips and related products.

Commerzbank

Market Cap: €32.7b

Provides banking and capital market products and services to private and small business customers, corporate, financial service providers, and institutional clients in Germany, rest of Europe, the Americas, Asia, and internationally.

Hartford Insurance Group

Market Cap: US$37.2b

Provides insurance and financial services to individual and business customers in the United States, the United Kingdom, and internationally.

MS&AD Insurance Group Holdings

Market Cap: JP¥5.9t

An insurance holding company, engages in the provision of insurance and financial services worldwide.

Dubai Electricity and Water Authority (PJSC)

Market Cap: د.إ136.5b

Generates, transmits, and distributes electricity for residential, commercial, industrial, and government customers primarily in Dubai.

Prudential

Market Cap: UK£27.1b

Through its subsidiaries, provides life and health insurance, and asset management solutions to individuals in Asia and Africa.

Hannover Rück

Market Cap: €31.3b

Provides reinsurance products and services in Germany, the United Kingdom, France, Europe, the United States, Asia, Australia, Africa, and internationally.

Martin Marietta Materials

Market Cap: US$36.0b

A natural resource-based building materials company, supplies aggregates and heavy-side building materials to the construction industry in the United States and internationally.

Fairfax Financial Holdings

Market Cap: CA$48.7b

Through its subsidiaries, provides property and casualty insurance and reinsurance, and investment management services in Canada, the United States, the Middle East and Asia, and internationally.

Microchip Technology

Market Cap: US$35.6b

Develops, manufactures, and sells smart, connected, and secure embedded control solutions in the Americas, Europe, and Asia.

Federal National Mortgage Association

Market Cap: US$35.4b

Provides financing solutions for residential mortgages in the United States.

UltraTech Cement

Market Cap: ₹3.3t

Engages in the manufacture and sale of clinker, cement, ready mix concrete, and related products in India, the United Arab Emirates, Bahrain, and Sri Lanka.

Aeon

Market Cap: JP¥5.6t

Operates in the retail industry in Japan, China, ASEAN countries, and internationally.

Malayan Banking Berhad

Market Cap: RM 138.2b

Provides commercial banking and related financial products and services.

Sun Life Financial

Market Cap: CA$47.8b

A financial services company, provides asset management, wealth, insurance and health solutions to individual and institutional customers in Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia, and Bermuda.

ResMed

Market Cap: US$34.8b

Develops, manufactures, distributes, and markets medical devices and cloud-based software applications to diagnose, treat, and manage respiratory disorders in the United States and internationally.

Vulcan Materials

Market Cap: US$34.8b

Produces and supplies construction aggregates in the United States.

Fomento Económico Mexicano. de

Market Cap: Mex$618.8b

Through its subsidiaries, operates as a franchise bottler of Coca-Cola trademark beverages worldwide.

KB Financial Group

Market Cap: ₩51.4t

Provides various banking and related financial services to consumers and corporations in South Korea, the United States, New Zealand, China, Cambodia, the United Kingdom, Indonesia, and internationally.

Bank Leumi le-Israel B.M

Market Cap: ₪108.2b

Provides banking and financial services for households, small and medium enterprises, and corporations in Israel, the United Kingdom, and internationally.

ACWA Power

Market Cap: ر.س128.3b

Engages in the investment, development, operation, and maintenance of power generation, water desalination, and green hydrogen production plants in the Kingdom of Saudi Arabia, the Middle East, Asia, and Africa.

British American Tobacco Zimbabwe (Holdings)

Market Cap: US$4.4b

Together with subsidiaries, manufactures, distributes, and sells cigarettes in Zimbabwe.

Archer-Daniels-Midland

Market Cap: US$34.1b

Provides human and animal nutrition ingredients and solutions in the United States, Switzerland, the Cayman Islands, Brazil, Mexico, Canada, the United Kingdom, and internationally.

Advanced Info Service

Market Cap: ฿1.1t

Operates as a telecommunications company primarily in Thailand.

AST SpaceMobile

Market Cap: US$33.7b

Designs and develops the constellation of BlueBird satellites in the United States.

QNB Bank

Market Cap: ₺1.5t

Provides various banking and financial services in Turkey.

Arch Capital Group

Market Cap: US$33.6b

Provides insurance, reinsurance, and mortgage insurance products in the United States, Canada, Bermuda, the United Kingdom, Europe, and Australia.

Cathay Financial Holding

Market Cap: NT$1.1t

Through its subsidiaries, provides various financial products and services in Taiwan, rest of Asia, and internationally.

Chocoladefabriken Lindt & Sprüngli

Market Cap: CHF 26.2b

Engages in the manufacture and sale of chocolate products worldwide.

Vodafone Group

Market Cap: UK£24.9b

Provides telecommunication services in Germany, the United Kingdom, rest of Europe, Turkey, and South Africa.

GE HealthCare Technologies

Market Cap: US$33.1b

Engages in the development, manufacture, and marketing of products, services, and complementary digital solutions used in the diagnosis, treatment, and monitoring of patients in the United States, Canada, and internationally.

Chunghwa Telecom

Market Cap: NT$1.1t

Operates as an integrated telecommunications service provider in Taiwan and internationally.

Heidelberg Materials

Market Cap: €28.6b

Produces and distributes cement, aggregates, ready-mixed concrete, and asphalt worldwide.

Imperial Brands

Market Cap: UK£24.5b

Manufactures, imports, markets, and sells tobacco and tobacco-related products in Europe, the Americas, Africa, the Asia, Australasia, and internationally.