Hungarian Materials Defensive Blue Chips

Orkla

Market Cap: NOK 103.8b

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

Chongqing Rural Commercial Bank

Market Cap: HK$83.2b

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

Budweiser Brewing Company APAC

Market Cap: HK$83.1b

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

Globus Medical

Market Cap: US$10.6b

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

Alpha Bank

Market Cap: €9.3b

Provides various banking and financial products and services in Greece and internationally.

Japan Post Insurance

Market Cap: JP¥1.7t

Engages in the provision of life insurance products and services in Japan.

China Zheshang Bank

Market Cap: HK$82.6b

Provides corporate and retail banking services in Mainland China.

Busy Ming Group

Market Cap: HK$82.6b

Through its subsidiaries, operates as a food and beverage retailer in China.

Alchip Technologies

Market Cap: NT$337.1b

Engages in the research, design, development, and manufacturing of application specific integrated circuits and system on a chip in the United States, China, Japan, Taiwan, and internationally.

Marks and Spencer Group

Market Cap: UK£7.8b

Operates various retail stores.

Suzhou Everbright Photonics

Market Cap: CN¥70.8b

Engages in the research, development, packaging, and sale of optoelectronic devices and systems in China and internationally.

Lotus Bakeries

Market Cap: €9.1b

Provides various snack products in Belgium and internationally.

Hangzhou Silan Microelectronics

Market Cap: CN¥70.6b

Engages in the research, design, development, production, and sale of electronic components in China.

Zions Bancorporation National Association

Market Cap: US$10.4b

Provides various banking products and related services primarily in the states of Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming.

Vanguard International Semiconductor

Market Cap: NT$333.3b

Engages in manufacturing, selling, packaging, testing, and computer-aided design of integrated circuits and other semiconductor devices in Taiwan and internationally.

Centrica

Market Cap: UK£7.7b

Operates as an integrated energy company in the United Kingdom, Ireland, Scandinavia, North America, and internationally.

Taiwan Mobile

Market Cap: NT$331.9b

Provides telecommunications, broadband, retail, digital, and financial services in Taiwan and internationally.

Eneva

Market Cap: R$52.8b

An integrated energy company, engages in the exploration, production, and commercialization of natural gas and liquids in Brazil.

Globalstar

Market Cap: US$10.3b

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

Bank of Ayudhya

Market Cap: ฿343.9b

Provides commercial banking products and services to individuals, corporates, small and medium-sized businesses, and financial institutions.

Manila Electric

Market Cap: ₱633.4b

Manila Electric Company holds a congressional franchise to construct, operate, and maintain an electric distribution system in the Philippines.

Maxone Semiconductor (Suzhou)

Market Cap: CN¥69.7b

Engages in the research, design, development, production, and sale of semiconductor chip test probe cards in China and internationally.

Interconexión Eléctrica E.S.P

Market Cap: Col$33.3t

Engages in the electric power, roads, and ICT and telecommunications business activities.

Allegro MicroSystems

Market Cap: US$10.2b

Designs, develops, manufactures, and markets sensor integrated circuits (ICs) and application-specific power ICs for sensing, motion control, and power management functions of complex electromechanical or power conversion systems.

United Spirits

Market Cap: ₹975.2b

Manufactures, sells, and distributes alcoholic beverages and other allied spirits in India and internationally.

Beazley

Market Cap: UK£7.6b

Through its subsidiaries, provides risk insurance and reinsurance solutions in the United States, the United Kingdom, and rest of Europe.

J Sainsbury

Market Cap: UK£7.6b

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

Unigroup Guoxin Microelectronics

Market Cap: CN¥68.7b

Unigroup Guoxin Microelectronics Co., Ltd.

Old National Bancorp

Market Cap: US$10.1b

Operates as the bank holding company for Old National Bank that provides consumer and commercial banking services in the United States.

Suzhou Maxwell Technologies

Market Cap: CN¥68.6b

Engages in the design, research and development, production, and sale of solar cell production equipment in China.

OGE Energy

Market Cap: US$10.0b

Through its subsidiaries, generates, transmits, distributes, and sells electric energy in the United States.

Mowi

Market Cap: NOK 97.9b

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