Polish Telecom Defensive Blue Chips

SDIC Power Holdings

Market Cap: CN¥114.5b

Engages in the electricity generation business in China.

MKS

Market Cap: US$17.0b

Provides foundational technology solutions to semiconductor manufacturing, electronics and packaging, and specialty industrial applications in the United States, China, South Korea, Japan, Taiwan, Singapore, and internationally.

Bankinter

Market Cap: €14.8b

Provides various banking products and services to individuals, corporates, and small- and medium-sized enterprises in Spain, Luxembourg, Portugal, and Ireland.

Associated British Foods

Market Cap: UK£12.6b

Engages in the food, ingredients, and retail businesses worldwide.

Sonova Holding

Market Cap: CHF 13.8b

Manufactures and sells hearing care solutions for children and adults in Switzerland, the United States, rest of the Americas, Europe, the Middle East, Africa, and the Asia Pacific.

IHH Healthcare Berhad

Market Cap: RM 67.5b

An investment holding company, provides healthcare services in Singapore, Malaysia, India, Greater China, Japan, Türkiye and Europe, and internationally.

Powszechny Zaklad Ubezpieczen

Market Cap: zł62.6b

Provides life and non-life insurance products and services in Poland, the Baltic States, and Ukraine.

African Distillers

Market Cap: US$2.1b

Manufactures, distributes, and markets wines, spirits, ready-to-drink (RTDs), and ciders in Zimbabwe.

Public Power

Market Cap: €14.3b

Generates, transmits, and distributes electricity in Greece, Romania, Bulgaria, and North Macedonia.

Power Assets Holdings

Market Cap: HK$127.5b

An investment holding company, engages in the generation, transmission, and distribution of electricity in Hong Kong, the United Kingdom, Australia, Canada, mainland China, Netherlands, New Zealand, Thailand, the United States, and internationally.

HANMI Semiconductor

Market Cap: ₩22.4t

Manufactures and sells semiconductor equipment in South Korea and internationally.

VeriSilicon Microelectronics (Shanghai)

Market Cap: CN¥107.9b

Provides platform-based custom silicon and semiconductor IP licensing services in China and internationally.

Banco Santander-Chile

Market Cap: CL$15.4t

Provides commercial and retail banking products and services in Chile.

Reinsurance Group of America

Market Cap: US$16.0b

Provides life and health, and asset-intensive reinsurance in the United States, Latin America, Canada, Europe, the Middle East, Africa, Asia, and Australia.

Emirates Islamic Bank PJSC

Market Cap: د.إ58.9b

Provides banking products and services financing and investing instruments in the United Arab Emirates and internationally.

FinecoBank Banca Fineco

Market Cap: €13.9b

Provides banking, credit, trading and investment services in Italy.

Luzhou LaojiaoLtd

Market Cap: CN¥105.9b

Produces and sells alcoholic products in China and internationally.

Rede D'Or São Luiz

Market Cap: R$81.2b

Engages in the provision of hospital services in Brazil.

Lattice Semiconductor

Market Cap: US$15.8b

Develops and sells semiconductor, silicon-based and silicon-enabling, evaluation boards, and development hardware products in Asia, Europe, and the Americas.

mBank

Market Cap: zł59.5b

Provides various banking and financial services in Poland, the Czech Republic, Slovakia, and internationally.

BAWAG Group

Market Cap: €13.6b

Operates as a holding company for BAWAG P.S.K.

Admiral Group

Market Cap: UK£11.6b

A financial services company, provides insurance and personal lending products in the United Kingdom, France, Italy, and Spain.

IonQ

Market Cap: US$15.5b

Develops quantum computing systems in the United States, Switzerland, and Internationally.

Mapfre

Market Cap: €13.5b

Engages in insurance, reinsurance, and financial activities in Spain.

Phoenix Financial

Market Cap: ₪47.1b

Operates as a financial services company in Israel.

SCREEN Holdings

Market Cap: JP¥2.4t

Develops, manufactures, and markets semiconductor production equipment in Japan, Taiwan, South Korea, China, the United States, Europe, and internationally.

BB Seguridade Participações

Market Cap: R$79.3b

Through its subsidiaries operates in the insurance, pension plans, and bonds, businesses in Brazil.

Airtel Africa

Market Cap: UK£11.5b

Provides telecommunications and mobile money services in Nigeria, East Africa, and Francophone Africa.

SCB X

Market Cap: ฿513.5b

Engages in the banking, consumer and digital finance, and platform and technology businesses in Thailand and internationally.

ING Bank Slaski

Market Cap: zł58.2b

Provides various banking products and services for retail clients and businesses in Poland.

BIWIN Storage Technology

Market Cap: CN¥102.3b

Engages in the research and development, design, packaging, testing, production, and sales of semiconductor memory.

Dairibord Holdings

Market Cap: US$2.0b

Manufactures, processes, markets, and distributes milk, food, and beverage products in Zimbabwe.

Federal Home Loan Mortgage

Market Cap: US$15.2b

Operates in the secondary mortgage market in the United States.

Unum Group

Market Cap: US$15.1b

Provides financial protection benefit solutions in the United States, the United Kingdom, and Poland.

Elia Group

Market Cap: €13.2b

Develops and operates as a transmission system operator in Belgium and Germany.

Kerry Group

Market Cap: €13.2b

Provides taste and nutrition solutions.