Latvian Telecom Defensive Blue Chips

Apollo Hospitals Enterprise

Market Cap: ₹1.0t

Provides healthcare services in India.

HKT Trust and HKT

Market Cap: HK$89.4b

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.

Emirates Integrated Telecommunications Company PJSC

Market Cap: د.إ42.2b

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

Baloise Holding

Market Cap: CHF 9.2b

Primarily engages in the insurance and banking businesses in Switzerland, Germany, Belgium, and Luxembourg.

SinoPac Financial Holdings

Market Cap: NT$358.8b

Through its subsidiaries, provides banking, securities, investment, leasing, and venture capital services worldwide.

Industrial Bank of Korea

Market Cap: ₩16.8t

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

Alibaba Health Information Technology

Market Cap: HK$88.7b

An investment holding company, engages in the pharmaceutical direct sales, pharmaceutical e-commerce platform, and healthcare and digital services businesses in Mainland China and Hong Kong.

China Resources Beer (Holdings)

Market Cap: HK$88.6b

An investment holding company, manufactures, distributes, and sells alcoholic beverages in Mainland China.

Encompass Health

Market Cap: US$11.4b

Provides post-acute healthcare services in the United States and Puerto Rico.

China Zheshang Bank

Market Cap: HK$88.5b

Provides various commercial banking products and services in Mainland China.

Ooredoo Q.P.S.C

Market Cap: ر.ق41.3b

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

Maplebear

Market Cap: US$11.3b

Maplebear Inc., doing business as Instacart, engages in the provision of online grocery shopping services to households in North America.

Severn Trent

Market Cap: UK£8.5b

Provides water and wastewater services in the United Kingdom.

United Spirits

Market Cap: ₹1.0t

Manufactures, sells, and distributes alcoholic beverages and other allied spirits in India and internationally.

Manila Electric

Market Cap: ₱665.0b

Manila Electric Company holds a congressional franchise to construct, operate, and maintain an electric distribution system in the Philippines.

Chubu Electric Power Company

Market Cap: JP¥1.7t

Engages in the generation, transmission, distribution, and retail of electricity in Japan and internationally.

Penumbra

Market Cap: US$11.2b

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

First Horizon

Market Cap: US$11.2b

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

Assurant

Market Cap: US$11.1b

Provides protection services to connected devices, homes, and automobiles in North America, Latin America, Europe, and the Asia Pacific.

BDO Unibank

Market Cap: ₱656.6b

Provides various banking products and services to individuals and corporations in the Philippines and internationally.

Align Technology

Market Cap: US$11.1b

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

Acciona

Market Cap: €9.5b

Engages in the energy, infrastructure, and other businesses in Spain and internationally.

Carrefour

Market Cap: €9.5b

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

T&D Holdings

Market Cap: JP¥1.7t

Through its subsidiaries, provides insurance products and services in Japan.

BKW

Market Cap: CHF 8.8b

An international energy and infrastructure company, plans, builds, and operates infrastructure to produce and supply energy to businesses, households, and the public sector in Switzerland, Germany, Italy, France, and internationally.

Italgas

Market Cap: €9.5b

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

ICICI Lombard General Insurance

Market Cap: ₹987.3b

Provides various general insurance products and services in India.

American Financial Group

Market Cap: US$11.0b

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

ACM Research (Shanghai)

Market Cap: CN¥77.4b

Engages in the research, development, production, and sale of semiconductor equipment in China.

iA Financial

Market Cap: CA$15.3b

Provides insurance and wealth management services for individual and group basis in Canada and the United States.

Tsingtao Brewery

Market Cap: CN¥76.9b

Engages in the production, distribution, wholesale, and retail sale of beer products in Mainland China, Hong Kong, Macau, and internationally.

Amkor Technology

Market Cap: US$10.9b

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

Hippo Valley Estates

Market Cap: US$1.4b

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

Celsius Holdings

Market Cap: US$10.8b

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

Tele2

Market Cap: SEK 101.8b

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

TIM

Market Cap: R$57.5b

A telecommunications company, provides mobile, fixed, long-distance, data transmission, and broadband services in Brazil.