Latvian Software Defensive Blue Chips

Mapfre

Market Cap: €11.3b

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

Pinnacle Financial Partners

Market Cap: US$13.0b

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.

RenaissanceRe Holdings

Market Cap: US$12.9b

Provides reinsurance and insurance products in the United States and internationally.

CNA Financial

Market Cap: US$12.9b

An insurance holding company, primarily provides commercial property and casualty insurance products in the United States, Canada, the United Kingdom, Continental Europe, and internationally.

Saputo

Market Cap: CA$17.5b

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

Hormel Foods

Market Cap: US$12.8b

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

Kerry Group

Market Cap: €11.1b

Provides taste and nutrition solutions.

Helvetia Baloise Holding

Market Cap: CHF 10.1b

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

bioMérieux

Market Cap: €11.1b

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.

Admiral Group

Market Cap: UK£9.6b

A financial services company, provides insurance and personal lending products in the United Kingdom, France, Italy, Spain, and the United States.

Budweiser Brewing Company APAC

Market Cap: HK$99.9b

An investment holding company, engages in brewing and distribution of beer in South Korea, Japan, New Zealand, China, India, Vietnam, and internationally.

Erie Indemnity

Market Cap: US$12.8b

Operates as a managing attorney-in-fact for the subscribers at the Erie Insurance Exchange in the United States.

Indus Towers

Market Cap: ₹1.2t

A telecom infrastructure company, engages in the operation and maintenance of wireless communication towers and related infrastructures for various telecom service providers in India, Nigeria, Uganda, and Zambia.

Banque Saudi Fransi

Market Cap: ر.س47.5b

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

Industrial Bank of Korea

Market Cap: ₩18.7t

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

BJ's Wholesale Club Holdings

Market Cap: US$12.6b

Operates membership warehouse clubs on the eastern half of the United States.

African Distillers

Market Cap: US$1.6b

Manufactures, distributes, and markets branded wines, spirits, and ciders in Zimbabwe.

Lattice Semiconductor

Market Cap: US$12.5b

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

Uni-President Enterprises

Market Cap: NT$398.3b

Produces and sells food products in Taiwan and internationally.

ASPEED Technology

Market Cap: NT$396.7b

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

TIM

Market Cap: R$64.3b

Engages in the telecommunications sector in Brazil.

Severn Trent

Market Cap: UK£9.3b

Provides water and wastewater services in the United Kingdom.

Mashreqbank PSC

Market Cap: د.إ45.5b

Provides various banking and financial services to individuals and corporates.

Fresenius Medical Care

Market Cap: €10.7b

Provides dialysis and related services for individuals with renal diseases in Germany, the United States, and internationally.

Carrefour

Market Cap: €10.7b

Operates as a food retailer in France, Spain, Italy, Belgium, Poland, Romania, Brazil, Argentina, the Middle East, Africa, and Asia.

Guangxi Guiguan Electric PowerCo.Ltd

Market Cap: CN¥84.7b

Engages in the generation and sale of electricity in China.

Emirates Integrated Telecommunications Company PJSC

Market Cap: د.إ44.9b

Provides mobile, fixed services, broadband connectivity, and IPTV solutions to homes and businesses in the United Arab Emirates.

Millicom International Cellular

Market Cap: US$12.2b

Provides cable and mobile services in Latin America.

Shanghai Rural Commercial Bank

Market Cap: CN¥83.3b

Engages in commercial banking business in China.

Hong Leong Bank Berhad

Market Cap: RM 47.6b

Operates as a financial services company in Malaysia and internationally.

Ensign Group

Market Cap: US$12.1b

Provides skilled nursing, senior living, and rehabilitative services.

Harel Insurance Investments & Financial Services

Market Cap: ₪37.7b

Offers insurance and financial services in Israel, Europe, and internationally.

Centrica

Market Cap: UK£9.1b

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

Align Technology

Market Cap: US$12.1b

Provides Invisalign clear aligners, Vivera retainers, and iTero intraoral scanners and services in the United States, Switzerland, and internationally.

Sanlam

Market Cap: R199.1b

Provides various financial solutions to individual, business, and institutional clients in South Africa, rest of Africa, Asia, and internationally.

Jinko Solar

Market Cap: CN¥82.5b

Engages in the research, development, manufacturing, and sale of photovoltaic products and clean energy solutions in China, Europe, America, the Asia Pacific, and internationally.