Icelandic Tech Defensive Blue Chips

SD Guthrie Berhad

Market Cap: RM 45.2b

Operates as an integrated plantations company in Malaysia and internationally.

Sanlam

Market Cap: R180.0b

Provides various financial services in South Africa, Pan-Africa, Asia, and internationally.

United Nova TechnologyLtd

Market Cap: CN¥75.0b

Manufactures and markets power discrete and modules in China and internationally.

Japan Post Insurance

Market Cap: JP¥1.8t

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

Safaricom

Market Cap: KSh1.4t

Provides telecommunication services in Kenya and Ethiopia.

Tata Consumer Products

Market Cap: ₹1.1t

Manufactures, distributes, and trades in food products in India, the United States, the United Kingdom, and internationally.

Guangdong Haid Group

Market Cap: CN¥74.4b

Research, develops, designs, produces, sells, and services animal feed products in China and internationally.

China Zheshang Bank

Market Cap: HK$86.4b

Provides corporate and retail banking services in Mainland China.

Bangkok Bank

Market Cap: ฿361.7b

Provides various commercial banking products and services in Thailand and internationally.

Ooredoo Q.P.S.C

Market Cap: ر.ق40.1b

Provides telecommunications services in Qatar, rest of the Middle East, Asia, and North Africa region.

Chongqing Rural Commercial Bank

Market Cap: HK$85.9b

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

Seed Co

Market Cap: US$1.4b

Engages in the breeding, multiplication, and distribution of hybrid seeds in Africa.

Glaukos

Market Cap: US$10.9b

An ophthalmic pharmaceutical and medical technology company, develops therapies for the treatment of glaucoma, corneal disorders, and retinal diseases in the United States and internationally.

Busy Ming Group

Market Cap: HK$85.1b

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

Marks and Spencer Group

Market Cap: UK£8.0b

Operates various retail stores.

Beijing E-Town Semiconductor Technology

Market Cap: CN¥72.7b

Beijing E-Town Semiconductor Technology Co., Ltd.

Darling Ingredients

Market Cap: US$10.8b

Develops, produces, and sells sustainable natural ingredients from edible and inedible bio-nutrients in North America, Europe, China, South America, and internationally.

Taiwan Mobile

Market Cap: NT$344.0b

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

Globalstar

Market Cap: US$10.7b

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

Discovery

Market Cap: R172.7b

Provides various insurance products and services primarily in South Africa and the United Kingdom.

Wintrust Financial

Market Cap: US$10.7b

A financial holding company, provides community-oriented, personal, and commercial banking services in the United States.

Dairibord Holdings

Market Cap: US$1.4b

Manufactures, processes, markets, and distributes milk, food, and beverage products in Zimbabwe.

Budweiser Brewing Company APAC

Market Cap: HK$83.7b

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

SouthState Bank

Market Cap: US$10.7b

Operates as the bank holding company for SouthState Bank, National Association that provides a range of banking services and products to individuals and companies in the United States.

Orkla

Market Cap: NOK 99.3b

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

Molina Healthcare

Market Cap: US$10.6b

Provides managed healthcare services to low-income families and individuals under the Medicaid and Medicare programs and through the state insurance marketplaces in the United States.

Unicaja Banco

Market Cap: €9.1b

Engages in the retail banking business in Spain.

BDO Unibank

Market Cap: ₱651.4b

Provides various banking products and services to individuals and corporations in the Philippines and internationally.

Commercial Bank for Investment and Development of Vietnam

Market Cap: ₫277.7t

Provides various banking products and services in Vietnam and internationally.

Ambuja Cements

Market Cap: ₹1.0t

Manufactures, markets, and sells cement and related products to individual home builders, developers, institutional clients, masons, contractors, architects, and construction professionals in India.

Ryan Specialty Holdings

Market Cap: US$10.5b

Operates as a service provider of specialty products and solutions for insurance brokers, agents, and carriers in the United States, Canada, the United Kingdom, rest of Europe, India, Singapore, and internationally.

Ensign Group

Market Cap: US$10.5b

Provides skilled nursing, senior living, and rehabilitative services.

Interconexión Eléctrica E.S.P

Market Cap: Col$32.1t

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

Beazley

Market Cap: UK£7.7b

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

SG Micro

Market Cap: CN¥70.5b

Engages in the development, manufacturing and sales of comprehensive analog and mixed-signal integrated-circuit (IC) solutions in Mainland China, Hong Kong, Taiwan, and internationally.

Kikkoman

Market Cap: JP¥1.7t

Through its subsidiaries, engages in the manufacture and sale of food products in Japan and internationally.