Lithuanian Software Defensive Blue Chips

Israel Discount Bank

Market Cap: ₪44.8b

Provides various banking and financial services in Israel, Europe, and North America.

S.P.E.E.H. Hidroelectrica

Market Cap: RON 62.1b

Produces and supplies hydro, wind, and energy electricity in Romania.

Smith & Nephew

Market Cap: UK£10.6b

Develops, manufactures, markets, and sells medical devices and services in the United Kingdom, the United States, and internationally.

Hua Nan Financial Holdings

Market Cap: NT$455.8b

Provides financial services in Taiwan and internationally.

Xi'an ESWIN Material Technology

Market Cap: CN¥99.9b

Xi'an ESWIN Material Technology Co., Ltd.

SCB X

Market Cap: ฿454.6b

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

Etihad Etisalat

Market Cap: ر.س53.9b

Through its subsidiaries, establishes and operates mobile wireless telecommunication and fiber optic networks in the Kingdom of Saudi Arabia.

Pinnacle Financial Partners

Market Cap: US$14.3b

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.

Union Bank of India

Market Cap: ₹1.3t

Provides banking products and services in India.

Kerry Group

Market Cap: €12.0b

Provides taste and nutrition solutions.

ING Bank Slaski

Market Cap: zł50.5b

Together with our subsidiaries, provides various banking products and services for retail clients and businesses in Poland.

Gjensidige Forsikring

Market Cap: NOK 136.9b

Provides general insurance and pension products in Norway, Sweden, Denmark, Finland, Latvia, Lithuania, and Estonia.

Metro

Market Cap: CA$19.3b

Through its subsidiaries, operates as a retailer, franchisor, distributor, and manufacturer in the food and pharmaceutical sectors in Canada.

Brookfield Renewable

Market Cap: US$14.1b

Owns and operates a portfolio of renewable power and sustainable solution assets.

Phison Electronics

Market Cap: NT$446.4b

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

Mora Telematika Indonesia

Market Cap: Rp234.7t

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

Mapfre

Market Cap: €11.9b

Engages in the investment, insurance, property, financial, and services businesses in Spain.

Brookfield Wealth Solutions

Market Cap: US$14.0b

Through its subsidiaries, provides retirement services, wealth protection products, and capital solutions to individuals and institutions.

Huaneng Power International

Market Cap: HK$109.6b

Generates and sells electric power to the regional or provincial grid companies in the People’s Republic of China and internationally.

Penumbra

Market Cap: US$14.0b

Designs, develops, manufactures, and markets medical devices in the United States and internationally.

Origin Energy

Market Cap: AU$20.1b

An integrated energy company, engages in the exploration and production of natural gas, electricity generation, wholesale and retail sale of electricity and gas, and sale of liquefied natural gas in Australia and internationally.

Kasikornbank

Market Cap: ฿440.8b

Provides commercial banking products and services in Thailand and internationally.

Samsung Fire & Marine Insurance

Market Cap: ₩20.2t

Provides non-life insurance products and services in South Korea, China, Indonesia, Vietnam, Singapore, the United States, and the United Kingdom.

Everest Group

Market Cap: US$13.9b

Through its subsidiaries, provides reinsurance and insurance products in the United States, Europe, and internationally.

Ambuja Cements

Market Cap: ₹1.3t

Manufactures, markets, and sells cement and related products to individual homebuilders, developers, infrastructure projects, masons and contractors, professionals, and architects and engineers in India.

BB Seguridade Participações

Market Cap: R$72.4b

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

bioMérieux

Market Cap: €11.5b

Develops, manufactures, and markets in vitro diagnostic solutions for infectious diseases in France, Europe, Africa, the Middle East, North and South America, the Asia Pacific, and internationally.

Fisher & Paykel Healthcare

Market Cap: NZ$22.7b

Designs, manufactures, markets, and sells medical device products and systems in North America, Europe, the Asia Pacific, and internationally.

Nova

Market Cap: US$13.6b

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.

Hormel Foods

Market Cap: US$13.5b

Develops, processes, and distributes various meat, nuts, and other food products to foodservice, convenience store, and commercial customers in the United States and internationally.

Celsius Holdings

Market Cap: US$13.5b

Develops, processes, manufactures, markets, sells, and distributes functional energy drinks in the United States, North America, Europe, the Asia Pacific, and internationally.

ageas

Market Cap: €11.4b

Engages in insurance business.

Hong Leong Bank Berhad

Market Cap: RM 52.9b

Operates as a financial services company in Malaysia and internationally.

Piotech

Market Cap: CN¥93.0b

Engages in the research and development, production, sales, and technical services of high-end semiconductor special equipment in China.

Jentech Precision Industrial

Market Cap: NT$422.3b

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

Helvetia Baloise Holding

Market Cap: CHF 10.4b

Engages in life and non-life insurance, and reinsurance business in Switzerland, Germany, Austria, Spain, Italy, France, and internationally.