Indonesian Consumer Retailing Defensive Blue Chips

Seven & i Holdings

Market Cap: JP¥5.8t

Operates convenience stores, superstores, and department stores in Japan, North America, and internationally.

Coca-Cola Europacific Partners

Market Cap: €35.3b

Produces, distributes, and sells a range of non-alcoholic ready to drink beverages.

Veeva Systems

Market Cap: US$39.3b

Provides cloud-based software for the life sciences industry in North America, Europe, the Asia Pacific, the Middle East, Africa, and Latin America.

Shenzhen Mindray Bio-Medical Electronics

Market Cap: CN¥280.5b

Shenzhen Mindray Bio-Medical Electronics Co., Ltd.

NTPC

Market Cap: ₹3.3t

Primarily engages in the generation and sale of bulk power to state power utilities in India.

Federal National Mortgage Association

Market Cap: US$38.0b

Provides financing solutions for residential mortgages in the United States.

DNB Bank

Market Cap: NOK 394.2b

Provides financial services to individuals and businesses in Norway and internationally.

JAPAN POST BANK

Market Cap: JP¥5.5t

Provides various banking products and services to retail and corporate clients in Japan and internationally.

Advantest

Market Cap: JP¥5.5t

Manufactures and sells semiconductors, component test system products, and mechatronics related products in Japan, the Americas, Europe, and Asia.

KBC Group

Market Cap: €33.4b

Provides banking, insurance, and asset management services primarily for retail, private banking, small and medium sized enterprises, and mid-cap clients in Belgium, Bulgaria, the Czech Republic, Hungary, and Slovakia.

Heidelberg Materials

Market Cap: €33.3b

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

Koninklijke Ahold Delhaize

Market Cap: €33.1b

Operates retail food stores and e-commerce in the Netherlands, the United States, and internationally.

Intact Financial

Market Cap: CA$51.3b

Through its subsidiaries, provides property and casualty insurance products to individuals and businesses in Canada, the United States, the United Kingdom, and internationally.

Orange

Market Cap: €32.9b

Operates as a telecommunications operator in France and internationally.

Emirates NBD Bank PJSC

Market Cap: د.إ134.2b

Provides corporate, institutional, retail, treasury, and Islamic banking services.

Dubai Electricity and Water Authority (PJSC)

Market Cap: د.إ134.0b

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

Hannover Rück

Market Cap: €32.6b

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

Hartford Insurance Group

Market Cap: US$36.3b

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

ResMed

Market Cap: US$36.3b

Develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets.

Consolidated Edison

Market Cap: US$36.2b

Through its subsidiaries, engages in the regulated electric, gas, and steam delivery businesses in the United States.

Fubon Financial Holding

Market Cap: NT$1.1t

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

Standard Chartered

Market Cap: UK£27.1b

Provides various banking products and services in Asia, Africa, the Middle East, Europe, and the Americas.

Shanxi Xinghuacun Fen Wine FactoryLtd

Market Cap: CN¥257.0b

Shanxi Xinghuacun Fen Wine Factory Co.,Ltd.

Vulcan Materials

Market Cap: US$35.5b

Produces and supplies construction aggregates in the United States.

Cardinal Health

Market Cap: US$35.4b

Operates as a healthcare services and products company in the United States, Canada, Europe, Asia, and internationally.

National Bank of Canada

Market Cap: CA$49.4b

Provides financial services to individuals, businesses, institutional clients, and governments in Canada and internationally.

Monolithic Power Systems

Market Cap: US$35.3b

Designs, develops, markets, and sells semiconductor-based power electronics solutions for the storage and computing, automotive, enterprise data, consumer, communications, and industrial markets.

Sun Life Financial

Market Cap: CA$49.2b

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.

Arch Capital Group

Market Cap: US$34.9b

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

MS&AD Insurance Group Holdings

Market Cap: JP¥5.1t

An insurance holding company, provides insurance and financial services worldwide.

Bank Rakyat Indonesia (Persero)

Market Cap: Rp578.5t

Provides various banking products and services in Indonesia and internationally.

Commerzbank

Market Cap: €31.0b

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.

Sysco

Market Cap: US$34.3b

Through its subsidiaries, engages in the marketing and distribution of various food and related products to the foodservice or food-away-from-home industry in the United States, Canada, the United Kingdom, France, and internationally.

Fairfax Financial Holdings

Market Cap: CA$47.5b

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

Great-West Lifeco

Market Cap: CA$47.3b

Engages in the life and health insurance, retirement savings, wealth and asset management, and reinsurance businesses in Canada, the United States, and Europe.

GE HealthCare Technologies

Market Cap: US$33.8b

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.