Dutch Software Defensive Blue Chips

Brown-Forman

Market Cap: US$13.1b

Manufactures, distills, bottles, imports, exports, markets, and sells a variety of alcohol beverages.

Shenzhen Techwinsemi Technology

Market Cap: CN¥88.1b

Develops, manufactures, and sells storage control chips and modules in China and internationally.

Henan Shuanghui Investment & DevelopmentLtd

Market Cap: CN¥87.9b

Henan Shuanghui Investment & Development Co.,Ltd.

MTN Nigeria Communications

Market Cap: ₦17.7t

Provides broadband fixed wireless access, telecommunication, and mobile financial services to consumer, commercial, and institutional customers in Nigeria.

Israel Discount Bank

Market Cap: ₪39.2b

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

Osaka Gas

Market Cap: JP¥2.1t

Provides natural gas, electricity, and other energy products and services in Japan and internationally.

Carrefour

Market Cap: €11.2b

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

Chubu Electric Power Company

Market Cap: JP¥2.0t

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

GlobalWafers

Market Cap: NT$416.9b

Researches, develops, designs, manufactures and sells semiconductor ingots/wafers in Taiwan and internationally.

Uni-President Enterprises

Market Cap: NT$414.8b

Engages in the manufacture and sale of beverages and instant noodles in Taiwan, China, and Southeast Asia.

Eastroc Beverage (Group)

Market Cap: CN¥86.6b

Engages in the manufacturing and distribution of beverages in the People’s Republic of China.

HKT Trust and HKT

Market Cap: HK$100.6b

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.

Yokohama Financial Group

Market Cap: JP¥2.0t

Provides various banking products and services to small and medium-sized businesses and individuals in Japan and internationally.

Guangxi Guiguan Electric PowerCo.Ltd

Market Cap: CN¥86.5b

Engages in the generation and sale of electricity in China.

Nova

Market Cap: US$12.8b

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.

J. M. Smucker

Market Cap: US$12.7b

Manufactures and markets branded food and beverage products worldwide.

Dangote Cement

Market Cap: ₦17.3t

Engages in the preparation, manufacturing, distribution, and sale of cement and related products in Nigeria.

Penumbra

Market Cap: US$12.7b

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

Taiwan Cooperative Financial Holding

Market Cap: NT$409.3b

Provides banking, insurance, securities, bills finance, investment trust, asset management, and capital management services in Taiwan.

National Silicon Industry Group

Market Cap: CN¥85.5b

National Silicon Industry Group Co., Ltd.

Fresenius Medical Care

Market Cap: €10.9b

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

Webster Financial

Market Cap: US$12.6b

Operates as the bank holding company for Webster Bank, National Association that provides various financial products and services to businesses, individuals, and families in the United States.

Almarai

Market Cap: ر.س47.4b

Operates as an integrated consumer food and beverage company in Saudi Arabia, other Gulf Cooperation Council countries, and internationally.

Etihad Etisalat

Market Cap: ر.س47.4b

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

Olympus

Market Cap: JP¥2.0t

Engages in the manufacture and sale of medical equipment in Japan, America, the Middle East, Asia, and Oceania.

Jerónimo Martins SGPS

Market Cap: €10.9b

Operates in the food distribution sector in Portugal, Poland, Colombia, Slovakia, and internationally.

Rockchip Electronics

Market Cap: CN¥84.7b

Operates as a fabless IC design company focusing on Intelligent IoT in China.

Smith & Nephew

Market Cap: UK£9.3b

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

Canara Bank

Market Cap: ₹1.2t

Provides various banking products and services in India and internationally.

Align Technology

Market Cap: US$12.5b

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

Tokyo GasLtd

Market Cap: JP¥2.0t

Engages in the production, supply, and sale of city gas and LNG in Japan.

First Horizon

Market Cap: US$12.4b

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

Indian Bank

Market Cap: ₹1.2t

Provides various banking products and services.

HDFC Life Insurance

Market Cap: ₹1.2t

Engages in the provision of individual and group insurance solutions in India.

BJ's Wholesale Club Holdings

Market Cap: US$12.3b

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

China Resources Power Holdings

Market Cap: HK$96.7b

An investment holding company, invests in, develops, operates, and manages power plants and coal mine projects in the People’s Republic of China.