Norwegian Diversified Financials Defensive Blue Chips

American International Group

Market Cap: US$43.5b

Offers insurance products for commercial, institutional, and individual customers in North America and internationally.

ACWA Power

Market Cap: ر.س162.4b

Engages in the investment, development, operation, and maintenance of power generation, water desalination, and green hydrogen production plants in the Kingdom of Saudi Arabia, the Middle East, Asia, and Africa.

Heineken

Market Cap: €36.9b

Heineken N.V. brews and sells beer and cider in the Americas, Europe, Africa, the Middle East, and the Asia Pacific.

JAPAN POST BANK

Market Cap: JP¥6.3t

Provides various banking products and services to retail and corporate clients in Japan and internationally.

Emirates NBD Bank PJSC

Market Cap: د.إ157.9b

Provides corporate, institutional, retail, treasury, and Islamic banking services.

Commerzbank

Market Cap: €36.6b

Provides banking and capital market products and services to private and small business customers, corporate, financial service providers, and institutional clients in Germany, rest of Europe, the Americas, Asia, and internationally.

Orange

Market Cap: €36.4b

Operates as a telecommunications operator in France and internationally.

Fairfax Financial Holdings

Market Cap: CA$58.5b

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

Shenzhen Mindray Bio-Medical Electronics

Market Cap: CN¥297.1b

Shenzhen Mindray Bio-Medical Electronics Co., Ltd.

Public Service Enterprise Group

Market Cap: US$41.7b

Through its subsidiaries, operates in electric and gas utility, and nuclear generation businesses in the United States.

National Bank of Canada

Market Cap: CA$58.0b

Provides financial services to individuals, businesses, institutional clients, and governments in Canada and internationally.

Coca-Cola Europacific Partners

Market Cap: €35.1b

Produces, distributes, and sells a range of non-alcoholic ready to drink beverages.

Rocket Companies

Market Cap: US$40.8b

Provides spanning mortgage, real estate, and personal finance services in the United States and Canada.

Target

Market Cap: US$40.8b

Operates as a general merchandise retailer in the United States.

Vulcan Materials

Market Cap: US$40.6b

Produces and supplies construction aggregates in the United States.

Axis Bank

Market Cap: ₹3.6t

Provides various financial products and services in India and internationally.

Fubon Financial Holding

Market Cap: NT$1.2t

Provides various financial services in Taiwan, Asia, and internationally.

UltraTech Cement

Market Cap: ₹3.6t

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.

DNB Bank

Market Cap: NOK 396.8b

Provides financial services to individuals and businesses in Norway and internationally.

Muyuan Foods

Market Cap: CN¥284.5b

Operates in the hog industry in China.

ResMed

Market Cap: US$39.9b

Develops, manufactures, distributes, and markets medical devices and cloud-based software applications to diagnose, treat, and manage respiratory disorders in the United States and internationally.

Heidelberg Materials

Market Cap: €33.9b

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

Sysco

Market Cap: US$39.4b

Through its subsidiaries, engages in the marketing and distribution of various food and related products to the foodservice or food-away-from-home industry in the United States, Canada, the United Kingdom, France, and internationally.

CBZ Holdings

Market Cap: US$5.1b

Provides various banking and financial products and services to retail and corporate customers in Zimbabwe.

Skandinaviska Enskilda Banken

Market Cap: SEK 365.5b

Provides corporate, retail, investment, and private banking services.

Erste Group Bank

Market Cap: €33.2b

Provides a range of banking and other financial services to retail, corporate, and public sector customers.

Martin Marietta Materials

Market Cap: US$38.0b

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

Hershey

Market Cap: US$37.9b

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

Federal Home Loan Mortgage

Market Cap: US$37.9b

Operates in the secondary mortgage market in the United States.

Swisscom

Market Cap: CHF 29.9b

Provides telecommunication services primarily in Switzerland, Italy, and internationally.

Tesco

Market Cap: UK£27.8b

Operates as a grocery retailer in the United Kingdom, Republic of Ireland, the Czech Republic, Slovakia, and Hungary.

Hartford Insurance Group

Market Cap: US$37.5b

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

Great-West Lifeco

Market Cap: CA$52.2b

Engages in the life and health insurance, retirement savings, wealth and asset management, and reinsurance businesses in Canada, the United States, and Europe.

FBC Holdings

Market Cap: US$4.8b

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

Cardinal Health

Market Cap: US$37.3b

Operates as a healthcare services and products company in the United States and internationally.

NTPC

Market Cap: ₹3.3t

Operates as an integrated power company in India.