Icelandic Software Defensive Blue Chips

Tesco

Market Cap: UK£30.2b

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

MS&AD Insurance Group Holdings

Market Cap: JP¥6.3t

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

Heidelberg Materials

Market Cap: €33.8b

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

Great-West Lifeco

Market Cap: CA$54.6b

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

KB Financial Group

Market Cap: ₩57.8t

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.

Martin Marietta Materials

Market Cap: US$39.9b

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

Endesa

Market Cap: €33.5b

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.

Consolidated Edison

Market Cap: US$39.7b

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

Hartford Insurance Group

Market Cap: US$39.3b

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

Telstra Group

Market Cap: AU$55.5b

Provides telecommunications and information services in Australia and internationally.

Moore Threads Technology

Market Cap: CN¥270.5b

Engages in the development of GPU chips and related products.

ASM International

Market Cap: €32.9b

Engages in the research, development, manufacture, marketing, and servicing of equipment and materials used to produce semiconductor devices in Europe, the United States, and Asia.

Bank Leumi le-Israel B.M

Market Cap: ₪119.0b

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

Alcon

Market Cap: CHF 29.8b

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

ResMed

Market Cap: US$37.8b

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.

ACWA Power

Market Cap: ر.س141.1b

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.

Japan Post Holdings

Market Cap: JP¥5.8t

Provides postal, banking, and insurance services in Japan.

Malayan Banking Berhad

Market Cap: RM 145.7b

Provides commercial banking and related financial products and services.

Prudential

Market Cap: UK£27.3b

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

Fairfax Financial Holdings

Market Cap: CA$50.7b

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.

Advanced Info Service

Market Cap: ฿1.2t

Operates as a telecommunications company primarily in Thailand.

Grupo Nutresa S. A

Market Cap: Col$136.6t

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

Chocoladefabriken Lindt & Sprüngli

Market Cap: CHF 28.3b

Engages in the manufacture and sale of chocolate products worldwide.

Cathay Financial Holding

Market Cap: NT$1.2t

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

Muyuan Foods

Market Cap: CN¥253.5b

Operates as a pork company in the hog farming industry in China.

Prudential Financial

Market Cap: US$36.6b

Provides insurance, investment management, and other financial products and services in the United States, Japan and internationally.

Huntington Bancshares

Market Cap: US$36.4b

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

Vodafone Group

Market Cap: UK£26.7b

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

QNB Bank

Market Cap: ₺1.6t

Provides various banking and financial services in Turkey.

GE HealthCare Technologies

Market Cap: US$36.1b

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.

Seven & i Holdings

Market Cap: JP¥5.5t

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

Bank Hapoalim B.M

Market Cap: ₪110.7b

Provides various banking and financial services in Israel and internationally.

Fifth Third Bancorp

Market Cap: US$35.9b

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.

AST SpaceMobile

Market Cap: US$35.9b

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

Sun Life Financial

Market Cap: CA$48.8b

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.

Hannover Rück

Market Cap: €30.1b

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