Kuwaiti Materials Defensive Blue Chips

Tenet Healthcare

Market Cap: US$17.2b

Operates as a diversified healthcare services company in the United States.

Lattice Semiconductor

Market Cap: US$17.1b

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

Mora Telematika Indonesia

Market Cap: Rp303.4t

Operates as a telecommunications infrastructure and network provider in Indonesia and Singapore.

Eurobank

Market Cap: €14.8b

Provides retail, corporate and private banking, asset management, treasury and capital market, and other services in Greece, Bulgaria, Cyprus, and Luxembourg.

Airtel Africa

Market Cap: UK£12.6b

Provides telecommunications and mobile money services in Nigeria, East Africa, and Francophone Africa.

MPI

Market Cap: NT$548.7b

Manufactures, processes, repairs, imports/exports, and trades in semiconductor manufacturing and testing equipment in Taiwan, China, the United States, Singapore, Korea, and internationally.

Federal Home Loan Mortgage

Market Cap: US$16.9b

Operates in the secondary mortgage market in the United States.

Enpara Bank

Market Cap: ₺797.2b

Provides banking services and products in Turkey.

Bank of Hangzhou

Market Cap: CN¥112.8b

Provides various banking products and services in China.

ASPEED Technology

Market Cap: NT$538.5b

Operates as a fabless integrated circuit (IC) design company in Taiwan, China, the United States, and internationally.

Dairibord Holdings

Market Cap: US$2.1b

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

Hippo Valley Estates

Market Cap: US$2.1b

Together with its subsidiary, Chiredzi Township (Private) Limited, engages in the growing and milling of sugar cane in Zimbabwe and internationally.

Kasikornbank

Market Cap: ฿550.1b

Provides commercial banking products and services in Thailand and internationally.

ASR Nederland

Market Cap: €14.2b

Provides insurance, pensions, and mortgages products and services for consumers, businesses, and employers in the Netherlands.

Varun Beverages

Market Cap: ₹1.6t

Manufactures, bottles, sells, and distributes beverages under the PepsiCo brands in India, Sri Lanka, Nepal, Zambia, Morocco, Zimbabwe, the Democratic Republic of Congo, Mozambique, South Africa, Lesotho, Eswatini, Namibia, and Botswana.

Power Assets Holdings

Market Cap: HK$127.4b

An investment holding company, engages in the generation, transmission, and distribution of electricity in Hong Kong, the United Kingdom, Australia, Canada, mainland China, Netherlands, New Zealand, Thailand, the United States, and internationally.

Hua Xia Bank

Market Cap: CN¥110.0b

Provides commercial banking services in China and Hong Kong.

Skyverse Technology

Market Cap: CN¥109.6b

Manufactures and sells quality control equipment to enterprises involved in the front-end integrated circuit processes and packaging in China and internationally.

Shanghai Iluvatar CoreX Semiconductor

Market Cap: HK$125.9b

Shanghai Iluvatar CoreX Semiconductor Co., Ltd.

Emirates Islamic Bank PJSC

Market Cap: د.إ58.9b

Provides banking products and services financing and investing instruments in the United Arab Emirates and internationally.

FinecoBank Banca Fineco

Market Cap: €14.0b

Provides banking, credit, trading and investment services in Italy.

Bankinter

Market Cap: €13.9b

Provides various banking products and services to individuals, corporates, and small- and medium-sized enterprises in Spain, Luxembourg, Portugal, and Ireland.

Global Unichip

Market Cap: NT$513.9b

Engages in the research and development, production, testing, and sale of embedded memory and logic components, analog components, cell libraries, and EDA tools for various IC applications.

Bank Polska Kasa Opieki

Market Cap: zł60.1b

A commercial bank, provides banking products and services to retail and corporate clients in Poland.

Powszechny Zaklad Ubezpieczen

Market Cap: zł59.9b

Provides life and non-life insurance products and services in Poland, the Baltic States, and Ukraine.

ageas

Market Cap: €13.8b

Engages in insurance business.

Kansai Electric Power Company

Market Cap: JP¥2.6t

Engages in electricity, heat supply, telecommunication, and gas supply in Japan.

KGI Financial Holding

Market Cap: NT$509.2b

Operates as a financial company in Taiwan and internationally.

SCB X

Market Cap: ฿528.6b

Engages in the banking, consumer and digital finance, and platform and technology businesses in Thailand and internationally.

Reinsurance Group of America

Market Cap: US$15.7b

Provides life and health, and asset-intensive reinsurance in the United States, Latin America, Canada, Europe, the Middle East, Africa, Asia, and Australia.

Banco Santander-Chile

Market Cap: CL$14.7t

Provides commercial and retail banking products and services in Chile.

Mapfre

Market Cap: €13.7b

Engages in insurance, reinsurance, and financial activities in Spain.

Bank of Beijing

Market Cap: CN¥106.3b

Provides various banking services to individuals and corporates in China.

Amkor Technology

Market Cap: US$15.6b

Provides outsourced semiconductor packaging and test services in the United States, Japan, Europe, and the Asia Pacific.

BB Seguridade Participações

Market Cap: R$79.8b

Through its subsidiaries operates in the insurance, pension plans, and bonds, businesses in Brazil.

Pinnacle Financial Partners

Market Cap: US$15.5b

Operates as the bank holding company for Pinnacle Bank that provides various banking products and services to individuals, businesses, and professional entities in the United States.