Hungarian Software Defensive Blue Chips

China Everbright Bank

Market Cap: CN¥182.8b

Provides a range of financial products and services to corporations and government agencies, retail customers, and individuals in Mainland China, Hong Kong, Luxembourg, Macao, Seoul, and Sydney.

Huaneng Lancang River Hydropower

Market Cap: CN¥181.3b

Engages in the development, construction, operation, and management of hydropower and new energy power generation projects.

National Bank of KuwaitK.P

Market Cap: د.ك8.2b

Provides financial and investment services and solutions to individual, corporate, and institutional clients in Kuwait, the Middle East, North Africa, Europe, the United Kingdom, and internationally.

Credicorp

Market Cap: US$26.4b

Provides various banking services and products in Peru, Bermuda, Colombia, Bolivia, Panama, Chile, the United States, the Cayman Islands, and Mexico.

Snam

Market Cap: €22.5b

Engages in the operation of natural gas transport and storage infrastructure.

Resona Holdings

Market Cap: JP¥4.2t

Through its subsidiaries, engages in the provision retail and commercial banking products and services in Japan and internationally.

Humana

Market Cap: US$26.1b

Provides medical and specialty insurance products in the United States.

VERBUND

Market Cap: €22.3b

Generates, trades, and sells electricity in Austria, Germany, France, Romania, Spain, and Luxembourg.

Kraft Heinz

Market Cap: US$26.1b

Manufactures and markets food and beverage products in North America and internationally.

New China Life Insurance

Market Cap: CN¥177.8b

Provides life insurance products and services to individuals and institutions in China.

Aviva

Market Cap: UK£19.3b

Provides various insurance, retirement, and wealth products in the United Kingdom, Ireland, Canada, India, and China.

Cincinnati Financial

Market Cap: US$25.9b

Provides property casualty insurance products in the United States.

SJ Semiconductor

Market Cap: CN¥177.0b

Operates as an integrated circuit wafer-level advanced packaging and testing company in China and internationally.

American Water Works Company

Market Cap: US$25.8b

Through its subsidiaries, provides water and wastewater services in the United States.

Bank Mandiri (Persero)

Market Cap: Rp442.9t

Provides various banking products and services to individuals and businesses in Indonesia, Singapore, Malaysia, Hong Kong, Timor Leste, Shanghai, England, and the Cayman Islands.

Telefônica Brasil

Market Cap: R$126.1b

Operates as a mobile telecommunications company in Brazil.

Lasertec

Market Cap: JP¥4.0t

Engages in the design, manufacture, and sale of inspection and measurement equipment in Japan, South Korea, Taiwan, Other Asia, the United States.

China Tower

Market Cap: HK$196.0b

Provides telecommunication tower infrastructure services in the People's Republic of China.

Telefónica

Market Cap: €21.3b

Provides telecommunications services in Europe and Latin America.

Jentech Precision Industrial

Market Cap: NT$783.7b

Manufactures, processes, and trades in precision tooling, and electronic parts and components in Taiwan and China.

Markel Group

Market Cap: US$24.7b

Engages in the insurance business in the United States, the United Kingdom, Bermuda, Germany, rest of the European Union, Canada, and the Asia Pacific.

Hua Hong Semiconductor

Market Cap: HK$193.1b

An investment holding company, engages in the manufacture and sale of semiconductor products in China, North America, Asia, and Europe.

Shanxi Xinghuacun Fen Wine FactoryLtd

Market Cap: CN¥167.0b

Shanxi Xinghuacun Fen Wine Factory Co.,Ltd.

Bunge Global

Market Cap: US$24.4b

Operates as an agribusiness and food company worldwide.

W. R. Berkley

Market Cap: US$24.4b

An insurance holding company, operates as a commercial line writer worldwide.

Companhia de Saneamento Básico do Estado de São Paulo - SABESP

Market Cap: R$121.2b

Provides basic and environmental sanitation services in the São Paulo State, Brazil.

CLP Holdings

Market Cap: HK$189.9b

An investment holding company, engages in the generation, retail, transmission, and distribution of electricity in Hong Kong, Mainland China, India, Thailand, Taiwan, and Australia.

Regions Financial

Market Cap: US$24.2b

A financial holding company, provides various banking and related products and services to individual and corporate customers.

DexCom

Market Cap: US$24.2b

A medical device company, focuses on the design, development, and commercialization of continuous glucose monitoring (CGM) systems for the management of diabetes and metabolic health in the United States and internationally.

QBE Insurance Group

Market Cap: AU$33.7b

Engages in underwriting general insurance and reinsurance risks in the Australia Pacific, North America, and internationally.

KeyCorp

Market Cap: US$24.0b

Operates as the holding company for KeyBank National Association that provides various retail and commercial banking products and services in the United States.

First Citizens BancShares

Market Cap: US$23.9b

Operates as the holding company for First-Citizens Bank & Trust Company that provides retail and commercial banking services to individuals, businesses, and professionals in the United States and internationally.

Telenor

Market Cap: NOK 222.5b

Operates as a telecommunication company worldwide.

AIB Group

Market Cap: €20.4b

Provides banking and financial products and services to personal, business, and corporate customers in the Republic of Ireland, the United Kingdom, and internationally.

Terna

Market Cap: €20.3b

Provides electricity transmission and dispatching services in Italy, other Euro-area countries, and internationally.

Brown & Brown

Market Cap: US$23.4b

Brown & Brown, Inc. markets and sells insurance products and services in the United States, the United Kingdom, and internationally.