Latvian Transportation Defensive Blue Chips

China Telecom

Market Cap: HK$649.7b

Provides mobile communications, wireline and satellite communications, internet access, cloud computing and computing power, AI, big data, quantum, ICT integration in the People’s Republic of China.

Abu Dhabi National Energy Company PJSC

Market Cap: د.إ300.2b

Operates as an integrated utility company in the United Arab Emirates, North America, Europe, Africa, and internationally.

Elevance Health

Market Cap: US$81.5b

Operates as a health benefits company in the United States.

Infineon Technologies

Market Cap: €70.8b

Develops, manufactures, and markets semiconductors and semiconductor-based solutions in Germany, Europe, the Middle East, Africa, Mainland China, Hong Kong, Taiwan, the Asia-Pacific, Japan, the United States, and the Americas.

Travelers Companies

Market Cap: US$81.1b

Through its subsidiaries, provides a range of commercial and personal property, and casualty insurance products and services to businesses, government units, associations, and individuals in the United States, Canada, and internationally.

Aon

Market Cap: US$80.0b

Operates as a professional services firm in the United States, rest of the Americas, the United Kingdom, Ireland, rest of Europe, the Middle East, Africa, and the Asia Pacific.

National Grid

Market Cap: UK£59.4b

Engages in the transmission and distribution of electricity and gas.

ANZ Group Holdings

Market Cap: AU$113.0b

Engages in the provision of banking and financial products and services to retail and business customers in Australia and internationally.

Cigna Group

Market Cap: US$78.4b

Provides insurance and related products and services in the United States.

Münchener Rückversicherungs-Gesellschaft in München

Market Cap: €65.9b

Engages in the insurance and reinsurance businesses worldwide.

Assicurazioni Generali

Market Cap: €65.4b

Provides various insurance solutions under the Generali brand in the Americas, Italy, rest of Europe, Africa, the Middle East, Asia, and the Oceania.

América Móvil. de

Market Cap: Mex$1.3t

Provides telecommunications services in Latin America and internationally.

Manulife Financial

Market Cap: CA$103.1b

Provides financial products and services in the United States, Canada, Asia, and internationally.

Japan Tobacco

Market Cap: JP¥11.8t

A tobacco company, engages in the manufacture and sale of tobacco products in Japan and internationally.

Engie

Market Cap: €63.2b

Engages in renewables and decentralized and low-carbon energy networks in France, Europe, North America, Asia, the Middle East, Oceania, South America, Africa, and internationally.

NAURA Technology Group

Market Cap: CN¥484.8b

Engages in the research and development, production, sale, and technical services of semiconductors in the People's Republic of China.

KDDI

Market Cap: JP¥11.6t

Engages in the provision of mobile telecommunications services in Japan and internationally.

NatWest Group

Market Cap: UK£52.9b

Provides banking and financial products and services in the United Kingdom and internationally.

Allstate

Market Cap: US$70.6b

Provides property and casualty, and other insurance products in the United States and Canada.

BOC Hong Kong (Holdings)

Market Cap: HK$553.5b

An investment holding company, provides banking and related financial services to corporate and individual customers in Hong Kong, China, and internationally.

Arthur J. Gallagher

Market Cap: US$69.1b

Provides insurance and reinsurance brokerage, consulting, and third-party property/casualty claims settlement and administration services to entities and individuals worldwide.

Boston Scientific

Market Cap: US$68.4b

Develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide.

SoftBank

Market Cap: JP¥11.1t

Provides mobile communications and fixed-line telecommunications and ISP services in Japan.

ASE Technology Holding

Market Cap: NT$2.2t

Provides semiconductor manufacturing services in the United States, Taiwan, rest of Asia, Europe, and internationally.

JAPAN POST BANK

Market Cap: JP¥11.1t

Provides financial products and services in Japan and internationally.

Nu Holdings

Market Cap: US$67.8b

Provides digital banking platform in Brazil, Mexico, Colombia, the Cayman Islands, and the United States.

Nordea Bank Abp

Market Cap: €58.5b

Offers banking products and services for individuals, families, and businesses in Sweden, Finland, Norway, Denmark, and internationally.

CRH

Market Cap: US$66.6b

Provides building materials solutions in Ireland, the United States, the United Kingdom, rest of Europe, and internationally.

Target

Market Cap: US$66.3b

Operates as a general merchandise retailer in the United States.

Aflac

Market Cap: US$65.5b

Through its subsidiaries, provides supplemental health and life insurance products.

Nongfu Spring

Market Cap: HK$512.4b

Produces and sells packaged drinking water and beverage products primarily in Mainland China.

Société Générale Société anonyme

Market Cap: €56.3b

Provides banking and financial services to individuals, corporates, and institutional clients in Europe and internationally.

FBC Holdings

Market Cap: US$8.3b

Through its subsidiaries, provides commercial and wholesale banking, mortgage financing, micro lending, reinsurance, short-term insurance, and stockbroking services in Zimbabwe.

Truist Financial

Market Cap: US$63.9b

A financial services company, provides banking and trust services in the Southeastern and Mid-Atlantic United States.

Crédit Agricole

Market Cap: €55.6b

Provides retail and corporate banking, insurance, and investment banking products and services in France, Italy, rest of the European Union, rest of Europe, North America, Central and South America, Africa, the Middle East, the Asia Pacific, and Japan.

Standard Chartered

Market Cap: UK£46.9b

Provides various banking products and services in Asia, Africa, the Middle East, Europe, and the Americas.