Luxembourg Consumer Services Defensive Blue Chips

Heidelberg Materials

Market Cap: €32.2b

Produces and distributes cement, aggregates, ready-mixed concrete, and asphalt worldwide.

Fairfax Financial Holdings

Market Cap: CA$51.8b

Through its subsidiaries, provides property and casualty insurance and reinsurance, and investment management services in Canada, the United States, the Middle East and Asia, and internationally.

Hershey

Market Cap: US$36.4b

Engages in the manufacture and sale of confectionery products and pantry items in the United States and internationally.

Martin Marietta Materials

Market Cap: US$36.3b

A natural resource-based building materials company, supplies aggregates and heavy-side building materials to the construction industry in the United States and internationally.

Hartford Insurance Group

Market Cap: US$36.0b

Provides insurance and financial services to individual and business customers in the United States, the United Kingdom, and internationally.

Huntington Bancshares

Market Cap: US$35.6b

Operates as the bank holding company for The Huntington National Bank that provides commercial, consumer, and mortgage banking services.

Intact Financial

Market Cap: CA$50.4b

Through its subsidiaries, provides property and casualty insurance products to individuals and businesses in Canada, the United States, the United Kingdom, and internationally.

Federal National Mortgage Association

Market Cap: US$35.4b

Provides financing solutions for residential mortgages in the United States.

Koninklijke Ahold Delhaize

Market Cap: €31.0b

Operates retail food stores and e-commerce in the Netherlands, the United States, and internationally.

UltraTech Cement

Market Cap: ₹3.3t

Engages in the manufacture and sale of clinker, cement, ready mix concrete, and related products in India, the United Arab Emirates, Bahrain, and Sri Lanka.

Chunghwa Telecom

Market Cap: NT$1.1t

Operates as an integrated telecommunications service provider in Taiwan and internationally.

Kroger

Market Cap: US$35.0b

Operates as a food and drug retailer in the United States.

KB Financial Group

Market Cap: ₩53.8t

Provides financial products and services in South Korea, the United States, New Zealand, China, Cambodia, the United Kingdom, Indonesia, and internationally.

Powszechna Kasa Oszczednosci Bank Polski Spólka Akcyjna

Market Cap: zł129.2b

Provides various banking products and services in Poland and internationally.

ABN AMRO Bank

Market Cap: €29.9b

Provides various banking products and financial services to retail, private, and corporate banking clients in the Netherlands, rest of Europe, the United States, Asia, and internationally.

Sompo Holdings

Market Cap: JP¥5.5t

Provides property and casualty (P&C) insurance products and services in Japan and internationally.

Piotech

Market Cap: CN¥230.8b

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

M&T Bank

Market Cap: US$33.9b

Operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that provides retail and commercial banking products and services in the United States.

Qnity Electronics

Market Cap: US$33.7b

Provides materials and solutions to the semiconductor and electronics industries in the United States, rest of Americas, Europe, the Middle East, Africa, Asia Pacific, China, South Korea, Taiwan, and internationally.

Yuanjie Semiconductor Technology

Market Cap: CN¥228.1b

Yuanjie Semiconductor Technology Co., Ltd.

Alcon

Market Cap: CHF 27.0b

Researches, develops, manufactures, distributes, and sells eye care products worldwide.

Arch Capital Group

Market Cap: US$33.0b

Provides insurance, reinsurance, and mortgage insurance products in the United States, Canada, Bermuda, the United Kingdom, Europe, and Australia.

Prudential

Market Cap: UK£25.0b

Through its subsidiaries, provides life and health insurance, and asset management solutions to individuals in Asia and Africa.

Bank Leumi le-Israel B.M

Market Cap: ₪98.0b

Provides banking and financial services for households, small and medium enterprises, and corporations in Israel, the United Kingdom, and internationally.

Capitec Bank Holdings

Market Cap: R541.2b

Through its subsidiaries, provides various banking products and services in South Africa.

Hannover Rück

Market Cap: €28.7b

Provides reinsurance products and services in Germany, the United Kingdom, France, Europe, the United States, Asia, Australia, Africa, and internationally.

Abu Dhabi Commercial Bank PJSC

Market Cap: د.إ119.7b

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

Ajinomoto

Market Cap: JP¥5.2t

Engages in the seasonings and foods, frozen foods, and healthcare and other businesses in Japan and internationally.

BPER Banca

Market Cap: €28.4b

Engages in the provision of banking products and services for individuals, and businesses and professionals in Italy and internationally.

Vodafone Group

Market Cap: UK£24.3b

Provides telecommunication services in Germany, the United Kingdom, rest of Europe, Turkey, and South Africa.

Advanced Info Service

Market Cap: ฿1.1t

Operates as a telecommunications company primarily in Thailand.

Malayan Banking Berhad

Market Cap: RM 131.1b

Provides commercial banking and related financial products and services.

Talanx

Market Cap: €27.6b

Provides insurance and reinsurance products and services worldwide.

Huadian New Energy Group

Market Cap: CN¥212.3b

Engages in the power generation business in China.

Centene

Market Cap: US$31.2b

Operates as a managed care company that provides programs and services to under-insured families, and commercial organizations in the United States.

CEZ a. s

Market Cap: Kč664.6b

Engages in the generation, distribution, trade, and sale of electricity, heat, thermal energy and other commodities in Central Europe.