Indonesian Software Defensive Blue Chips

Martin Marietta Materials

Market Cap: US$39.2b

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

American International Group

Market Cap: US$39.0b

Offers insurance products for commercial, institutional, and individual customers in North America and internationally.

Hershey

Market Cap: US$38.8b

Engages in the manufacture and sale of confectionery products and pantry items in the United States and internationally.

SSE

Market Cap: UK£28.3b

Engages in the generation, transmission, distribution, and supply of electricity.

ACWA Power

Market Cap: ر.س144.8b

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.

Grupo Nutresa S. A

Market Cap: Col$140.7t

Operates in the food industry in Colombia, Latin America, and internationally.

Endesa

Market Cap: €32.0b

Engages in the generation, distribution, and sale of electricity in Spain, Portugal, France, Germany, the United Kingdom, Switzerland, Luxembourg, the Netherlands, Singapore, Italy, Morocco, and internationally.

MS&AD Insurance Group Holdings

Market Cap: JP¥5.8t

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

QNB Bank

Market Cap: ₺1.6t

Provides various banking products and services in Turkey.

Consolidated Edison

Market Cap: US$37.5b

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

Hang Seng Bank

Market Cap: HK$289.0b

Provides various banking and related financial services to individual, corporate, commercial, and small and medium sized enterprise customers in Hong Kong, Mainland China, and internationally.

ResMed

Market Cap: US$36.8b

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.

Telstra Group

Market Cap: AU$53.1b

Provides telecommunications and information services in Australia and internationally.

Huadian New Energy Group

Market Cap: CN¥254.9b

Engages in the power generation business in China.

Fairfax Financial Holdings

Market Cap: CA$50.2b

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.

Bank Leumi le-Israel B.M

Market Cap: ₪113.9b

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

Sysco

Market Cap: US$36.5b

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.

Veeva Systems

Market Cap: US$36.5b

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

GE HealthCare Technologies

Market Cap: US$36.3b

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.

Tesco

Market Cap: UK£26.5b

Operates as a grocery retailer in the United Kingdom, Republic of Ireland, the Czech Republic, Slovakia, and Hungary.

Muyuan Foods

Market Cap: CN¥249.7b

Operates in the hog industry in China.

Cathay Financial Holding

Market Cap: NT$1.1t

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

Teradyne

Market Cap: US$35.9b

Designs, develops, manufactures, and sells automated test systems and robotics products in the United States, Asia Pacific, Europe, the Middle East, and Africa.

Hartford Insurance Group

Market Cap: US$35.8b

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

Sun Life Financial

Market Cap: CA$48.3b

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.

Malayan Banking Berhad

Market Cap: RM 138.9b

Provides commercial banking and related financial products and services.

Koninklijke Ahold Delhaize

Market Cap: €29.3b

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

Bank Rakyat Indonesia (Persero)

Market Cap: Rp579.8t

Provides various banking products and services in Indonesia and internationally.

Fomento Económico Mexicano. de

Market Cap: Mex$598.6b

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

Hannover Rück

Market Cap: €28.6b

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

Shenzhen Mindray Bio-Medical Electronics

Market Cap: CN¥236.0b

Shenzhen Mindray Bio-Medical Electronics Co., Ltd.

Intact Financial

Market Cap: CA$46.1b

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

Seven & i Holdings

Market Cap: JP¥5.2t

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

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.

Vodafone Group

Market Cap: UK£24.5b

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

Fifth Third Bancorp

Market Cap: US$33.5b

Operates as the bank holding company for Fifth Third Bank, National Association that engages in the provision of a range of financial products and services in the United States.