Norwegian Real Estate Defensive Blue Chips

Marsh & McLennan Companies

Market Cap: US$100.2b

A professional services company, provides advisory services and insurance solutions to clients in the areas of risk, strategy, and people worldwide.

Al Rajhi Banking and Investment

Market Cap: ر.س372.2b

Provides banking and investment services in the Kingdom of Saudi Arabia and internationally.

HCA Healthcare

Market Cap: US$98.5b

Through its subsidiaries, owns and operates hospitals and related healthcare entities in the United States.

AXA

Market Cap: €82.9b

Through its subsidiaries, insurance, asset management, and banking services worldwide.

China Yangtze Power

Market Cap: CN¥685.4b

Engages in hydropower generation business in China, Brazil, Germany, Malaysia, Pakistan, Peru, Portugal, and Sudan.

Econet Wireless Zimbabwe

Market Cap: US$12.2b

Through its subsidiaries, primarily provides mobile telecommunications and related value added services in Zimbabwe.

Constellation Energy

Market Cap: US$94.2b

Produces and sells energy products and services in the United States.

CVS Health

Market Cap: US$93.6b

Provides health solutions in the United States.

Enel

Market Cap: €79.3b

Operates as an integrated operator in electricity and gas industries worldwide.

Bank of Montreal

Market Cap: CA$125.2b

Provides diversified financial services primarily in North America.

NTT

Market Cap: JP¥13.1t

Operates as a telecommunications company in Japan and internationally.

China Telecom

Market Cap: HK$690.0b

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.

National Australia Bank

Market Cap: AU$130.7b

Provides financial services to individuals and businesses in Australia, New Zealand, Europe, Asia, the United States, and internationally.

McKesson

Market Cap: US$85.5b

Provides healthcare services in the United States and internationally.

Westpac Banking

Market Cap: AU$128.6b

Provides banking and other financial services in Australia, New Zealand, the Pacific Islands, Asia, the Americas, and Europe.

State Bank of India

Market Cap: ₹7.5t

Provides banking products and services in India and internationally.

Bank of Communications

Market Cap: HK$657.8b

Provides commercial banking products and services in China and internationally.

Tokio Marine Holdings

Market Cap: JP¥12.3t

Engages in the non-life and life insurance, and financial and general businesses in Japan and internationally.

Mizuho Financial Group

Market Cap: JP¥12.0t

Engages in banking, trust banking, securities, and other businesses related to financial services in Japan, the Americas, Europe, Asia/Oceania, and internationally.

Cigna Group

Market Cap: US$81.5b

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

Münchener Rückversicherungs-Gesellschaft in München

Market Cap: €68.7b

Engages in the insurance and reinsurance businesses worldwide.

PNC Financial Services Group

Market Cap: US$80.5b

Operates as a diversified financial services company in the United States.

Aon

Market Cap: US$79.9b

A professional services firm, provides a range of risk and human capital solutions worldwide.

MediaTek

Market Cap: NT$2.4t

Engages in the research, development, production, manufacture, and marketing of multimedia integrated circuits (ICs) in Taiwan, rest of Asia, and internationally.

Bank of Nova Scotia

Market Cap: CA$109.1b

Provides various banking products and services in Canada, the United States, Mexico, Peru, Chile, Colombia, the Caribbean and Central America, and internationally.

Arthur J. Gallagher

Market Cap: US$76.7b

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

U.S. Bancorp

Market Cap: US$75.9b

A financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities, and other financial institutions in the United States.

CRH

Market Cap: US$75.4b

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

Nongfu Spring

Market Cap: HK$583.1b

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

Semiconductor Manufacturing International

Market Cap: HK$573.3b

An investment holding company, engages in the manufacture, testing, and sale of integrated circuits wafer and various compound semiconductors in the United States, China, and Eurasia.

SoftBank

Market Cap: JP¥10.8t

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

Canadian Imperial Bank of Commerce

Market Cap: CA$100.8b

A diversified financial institution, provides various financial products and services to personal, business, public sector, and institutional clients in Canada, the United States, and internationally.

Federal National Mortgage Association

Market Cap: US$72.3b

Provides financing solutions for residential mortgages in the United States.

Cambricon Technologies

Market Cap: CN¥513.8b

Research, develops, design, and sells core chips in cloud server, edge computing, and terminal equipment in China.

CaixaBank

Market Cap: €61.2b

Provides various banking products and financial services in Spain and internationally.

Nu Holdings

Market Cap: US$71.2b

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