Kuwaiti Utilities Defensive Blue Chips

First Horizon

Market Cap: US$12.2b

Operates as the bank holding company for First Horizon Bank that provides various financial services.

Tele2

Market Cap: SEK 118.6b

Provides fixed and mobile connectivity and entertainment services in Sweden, Lithuania, Latvia, and Estonia.

Canara Bank

Market Cap: ₹1.2t

Provides various banking products and services in India and internationally.

KT&G

Market Cap: ₩18.1t

Engages in the production, distribution, and sale of tobacco products in South Korea, Europe, and internationally.

Molina Healthcare

Market Cap: US$12.2b

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.

Rambus

Market Cap: US$12.1b

Manufactures and sells semiconductor products in the United States, South Korea, Singapore, and internationally.

Realtek Semiconductor

Market Cap: NT$389.7b

Engages in the research, development, production, and sale of various integrated circuits and related application software in Taiwan, Asia, and internationally.

Brown-Forman

Market Cap: US$12.1b

Manufactures, distills, bottles, imports, exports, markets, and sells a variety of alcohol beverages.

Henan Shuanghui Investment & DevelopmentLtd

Market Cap: CN¥81.9b

Henan Shuanghui Investment & Development Co.,Ltd.

Tokyo GasLtd

Market Cap: JP¥2.0t

Engages in the production, supply, and sale of city gas and LNG in Japan.

Coca-Cola Consolidated

Market Cap: US$11.9b

Manufactures, markets, and distributes nonalcoholic beverages in the United States.

J. M. Smucker

Market Cap: US$11.9b

Manufactures and markets branded food and beverage products worldwide.

GAIL (India)

Market Cap: ₹1.1t

Operates as a natural gas processing and distribution company in India and internationally.

Tianshui Huatian Technology

Market Cap: CN¥80.2b

Engages in research, development, production, packaging, testing, and sales of semiconductor integrated circuits in China and internationally.

Indian Bank

Market Cap: ₹1.1t

Provides various banking products and services.

Jerónimo Martins SGPS

Market Cap: €10.3b

Operates in the food distribution sector in Portugal, Poland, Colombia, Slovakia, and internationally.

American Financial Group

Market Cap: US$11.7b

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

Chiba Bank

Market Cap: JP¥1.9t

Provides banking products and services in Japan and internationally.

Saputo

Market Cap: CA$16.6b

Produces, markets, and distributes dairy products in Canada, the United States, Australia, and the United Kingdom.

HKT Trust and HKT

Market Cap: HK$91.6b

An investment holding company, engages in the provision of technology, and satellite-and network-based telecommunications and related services in Hong Kong, Mainland China, and internationally.

Baxter International

Market Cap: US$11.7b

Through its subsidiaries, provides a portfolio of healthcare products in the United States.

King Yuan Electronics

Market Cap: NT$375.4b

Designs, manufactures, sells, tests, and assembles integrated circuits.

Olympus

Market Cap: JP¥1.9t

Engages in the manufacture and sale of medical equipment in Japan, America, the Middle East, Asia, and Oceania.

China Resources Power Holdings

Market Cap: HK$90.8b

An investment holding company, invests in, develops, operates, and manages power plants and coal mine projects in the People’s Republic of China.

Ooredoo Q.P.S.C

Market Cap: ر.ق42.1b

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

Italgas

Market Cap: €10.2b

Engages in the distribution of natural gas in Italy, Greece, and Other European Union countries.

Marico

Market Cap: ₹1.1t

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

Shenyang Fortune Precision Equipment

Market Cap: CN¥77.3b

Shenyang Fortune Precision Equipment Co., Ltd.

Maplebear

Market Cap: US$11.4b

Maplebear Inc., doing business as Instacart, operates as a technology and enablement partner for the grocery industry in the United States and internationally.

SG Micro

Market Cap: CN¥77.1b

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.

Sanlam

Market Cap: R186.8b

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

Industrial Bank of Korea

Market Cap: ₩16.9t

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

Magnum Ice Cream

Market Cap: €10.0b

Engages in the ice cream business in the Netherlands.

Turkiye Garanti Bankasi

Market Cap: ₺532.1b

Provides various banking products and services in Turkey.

Tata Consumer Products

Market Cap: ₹1.1t

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

Arab National Bank

Market Cap: ر.س42.4b

Provides various banking products and services in the Kingdom of Saudi Arabia, Other GCC and the Middle East, Europe, North America, Latin America, Southeast Asia, and internationally.