Portuguese Software Defensive Blue Chips

National Silicon Industry Group

Market Cap: CN¥73.1b

National Silicon Industry Group Co., Ltd.

Safaricom

Market Cap: KSh1.4t

Provides telecommunication services in Kenya and Ethiopia.

Sejahteraraya Anugrahjaya

Market Cap: Rp190.9t

Provides medical services in Indonesia.

Unicaja Banco

Market Cap: €9.4b

Engages in the retail banking business in Spain.

Chongqing Rural Commercial Bank

Market Cap: HK$85.2b

Provides banking and related financial services in the People’s Republic of China.

Bangkok Bank

Market Cap: ฿358.9b

Provides various commercial banking products and services in Thailand and internationally.

Commercial Bank for Investment and Development of Vietnam

Market Cap: ₫276.9t

Provides various banking products and services in Vietnam and internationally.

Align Technology

Market Cap: US$10.7b

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

Indus Towers

Market Cap: ₹1.0t

A telecom infrastructure company, engages in the operation and maintenance of wireless communication towers and related infrastructures for telecommunication service providers in India, Nigeria, Uganda, and Zambia.

Shanghai Iluvatar CoreX Semiconductor

Market Cap: HK$83.9b

Shanghai Iluvatar CoreX Semiconductor Co., Ltd.

Globalstar

Market Cap: US$10.7b

Provides mobile satellite services in the United States, Canada, Europe, Central and South America, and internationally.

King Yuan Electronics

Market Cap: NT$337.7b

Designs, manufactures, sells, tests, and assembles integrated circuits.

SG Micro

Market Cap: CN¥71.5b

Engages in the development, manufacturing and sales of comprehensive analog and mixed-signal integrated-circuit (IC) solutions in Mainland China, Hong Kong, Taiwan, and internationally.

Molina Healthcare

Market Cap: US$10.6b

Provides managed healthcare services to low-income families and individuals under the Medicaid and Medicare programs and through the state insurance marketplaces in the United States.

Chang Hwa Commercial Bank

Market Cap: NT$336.5b

Provides commercial banking products and services in Taiwan and internationally.

Vienna Insurance Group

Market Cap: €9.2b

Engages in providing insurance products and services in Austria and internationally.

BIM Birlesik Magazalar

Market Cap: ₺515.5b

Operates retail stores in Turkey, Morocco, and Egypt.

Marks and Spencer Group

Market Cap: UK£7.8b

Operates various retail stores.

UMB Financial

Market Cap: US$10.6b

Operates as a bank holding company that provides banking services and asset servicing in the United States and internationally.

WH Group

Market Cap: HK$82.9b

An investment holding company, produces and sells packaged meats, pork, and hogs in China, North America, and Europe.

SD Guthrie Berhad

Market Cap: RM 43.0b

Operates as an integrated plantations company in Malaysia and internationally.

Max Healthcare Institute

Market Cap: ₹1.0t

Provides medical and healthcare services in India.

Powerchip Semiconductor Manufacturing

Market Cap: NT$333.1b

Engages in the research and development, manufacturing, testing, packaging, and sale of integrated circuit products in Taiwan, the United States, China, and internationally.

Novatek Microelectronics

Market Cap: NT$332.9b

A fabless chip design company, designs, develops and sells a range of display driver integrated circuits (IC) and system-on-a-chip (SoC) solutions in Taiwan, Asia, and internationally.

Shoprite Holdings

Market Cap: R169.6b

An investment holding company, engages in the food retail and wholesale business in South Africa and internationally.

Beazley

Market Cap: UK£7.8b

Through its subsidiaries, provides risk insurance and reinsurance solutions in the United States, the United Kingdom, and rest of Europe.

Guangdong Haid Group

Market Cap: CN¥70.2b

Research, develops, designs, produces, sells, and services animal feed products in China and internationally.

Popular

Market Cap: US$10.4b

Through its subsidiaries, provides various retail, mortgage, and commercial banking services for individuals and businesses in Puerto Rico, the United States, the British Virgin Islands, the Caribbean, and Latin America.

Beijing Huafeng Test & Control TechnologyLtd

Market Cap: CN¥70.0b

Beijing Huafeng Test & Control Technology Co.,Ltd.

United Nova TechnologyLtd

Market Cap: CN¥69.9b

Manufactures and markets power discrete and modules in China and internationally.

Sanlam

Market Cap: R168.0b

Provides various financial services in South Africa, Pan-Africa, Asia, and internationally.

United Spirits

Market Cap: ₹990.5b

Manufactures, sells, and distributes alcoholic beverages and other allied spirits in India and internationally.

BUA Foods

Market Cap: ₦13.7t

Processes, manufactures, produces, and distributes food materials in Nigeria.

Universal Health Services

Market Cap: US$10.3b

Through its subsidiaries, owns and operates acute care hospitals, and outpatient and behavioral health care facilities in the United States.

Qorvo

Market Cap: US$10.3b

Engages in development and commercialization of technologies and products for wireless, wired, and power markets in the United States, China, rest of Asia, Taiwan, and Europe.

SouthState Bank

Market Cap: US$10.3b

Operates as the bank holding company for SouthState Bank, National Association that provides a range of banking services and products to individuals and companies in the United States.