Italian Software Defensive Blue Chips

Manila Electric

Market Cap: ₱666.1b

Manila Electric Company holds a congressional franchise to construct, operate, and maintain an electric distribution system in the Philippines.

Lattice Semiconductor

Market Cap: US$11.2b

Develops and sells semiconductor, silicon-based and silicon-enabling, evaluation boards, and development hardware products in Asia, Europe, and the Americas.

Dino Polska

Market Cap: zł40.6b

Operates a network of medium-sized grocery supermarkets under the Dino brand in Poland.

Nova

Market Cap: US$11.2b

Engages in the design, development, production, and sale of process control systems used in the manufacture of semiconductors in Taiwan, the United States, China, Korea, and internationally.

Banque Saudi Fransi

Market Cap: ر.س42.1b

Provides banking and financial services for individuals and businesses in the Kingdom of Saudi Arabia and internationally.

Hangzhou Changchuan TechnologyLtd

Market Cap: CN¥78.4b

Researches and develops, produces, and sells integrated circuit equipment and high-frequency communication materials in China and internationally.

CPFL Energia

Market Cap: R$60.4b

Through its subsidiaries, operates as an energy company in Brazil.

National Silicon Industry Group

Market Cap: CN¥78.2b

National Silicon Industry Group Co., Ltd.

Phison Electronics

Market Cap: NT$353.8b

Designs, manufactures, and sells flash memory controllers and peripheral system applications in Asia, the United States, Europe, Australia, and internationally.

Buzzi

Market Cap: €9.6b

Manufactures, distributes, and sells cement, ready-mix concrete, and natural aggregates.

Industrial Bank of Korea

Market Cap: ₩16.2t

Operates as a small and medium-sized enterprise (SME) financing bank in Korea and internationally.

Max Healthcare Institute

Market Cap: ₹1.0t

Provides medical and healthcare services in India.

China Resources Beer (Holdings)

Market Cap: HK$86.7b

An investment holding company, manufactures, distributes, and sells alcoholic beverages in Mainland China.

Globe Life

Market Cap: US$11.1b

Through its subsidiaries, provides various life and supplemental health insurance products, and annuities to lower middle- and middle-income families in the United States.

American Financial Group

Market Cap: US$11.1b

An insurance holding company, provides specialty property and casualty insurance products in the United States.

China Resources Microelectronics

Market Cap: CN¥77.5b

Engages in the manufacture and sale of semiconductors in China and internationally.

Jentech Precision Industrial

Market Cap: NT$349.4b

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

Almarai

Market Cap: ر.س41.5b

Operates as an integrated consumer food and beverage company in Saudi Arabia, other Gulf Cooperation Council countries, and internationally.

Phoenix Financial

Market Cap: ₪35.1b

Provides multi-line insurance products in Israel.

Bank Permata

Market Cap: Rp187.2t

Provides various banking products and services in Indonesia.

ICICI Prudential Life Insurance

Market Cap: ₹986.4b

Provides life insurance, annuity, pension, and health insurance products to individuals and groups in India.

Marico

Market Cap: ₹985.5b

Manufactures and sells branded consumer products in India, Bangladesh, Vietnam, and internationally.

Banque Cantonale Vaudoise

Market Cap: CHF 8.7b

Engages in the provision of various financial services in Vaud Canton and rest of Switzerland, the European Union, North America, and internationally.

Orkla

Market Cap: NOK 109.9b

Operates as an industrial investment company within brands and consumer-oriented businesses in Norway, Sweden, Denmark, Finland, Iceland, the Baltics, rest of Europe, and internationally.

Piraeus Financial Holdings

Market Cap: €9.3b

Provides banking products and services in Greece and internationally.

Komercní banka

Market Cap: Kč226.6b

Provides various retail, corporate, and investment banking services primarily in the Czech Republic, and Central and Eastern Europe.

Chubu Electric Power Company

Market Cap: JP¥1.7t

Engages in the generation, transmission, distribution, and retail of electricity in Japan and internationally.

Bank of the Philippine Islands

Market Cap: ₱639.3b

Provides various financial products and services to retail and corporate clients in the Philippines.

Shree Cement

Market Cap: ₹968.8b

Engages in the manufacture and sale of cement and clinker in India and internationally.

Centrica

Market Cap: UK£8.0b

Operates as an integrated energy company in the United Kingdom, Ireland, Scandinavia, North America, and internationally.

Itissalat Al-Maghrib (IAM)

Market Cap: د.م99.2b

Provides various telecommunication solutions in Morocco and internationally.

SBI Shinsei Bank

Market Cap: JP¥1.7t

Provides banking and financial products and services to individual customers, corporations, public-sector entities, and financial institutions in Japan.

Encompass Health

Market Cap: US$10.7b

Provides post-acute healthcare services in the United States and Puerto Rico.

Masan Consumer

Market Cap: ₫280.3t

Operates as a manufacturer and distributor of food and beverage products.

United Spirits

Market Cap: ₹958.7b

Manufactures, sells, and distributes alcoholic beverages and other allied spirits in India and internationally.

ICICI Lombard General Insurance

Market Cap: ₹950.4b

Provides various general insurance products and services in India.