Romanian Utilities Defensive Blue Chips

Heidelberg Materials

Market Cap: €31.2b

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

Koninklijke Ahold Delhaize

Market Cap: €31.0b

Operates retail food stores and e-commerce in the Netherlands, the United States, and internationally.

Fairfax Financial Holdings

Market Cap: CA$49.9b

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

OTP Bank Nyrt

Market Cap: Ft10.9t

Provides various commercial banking services.

Prudential

Market Cap: UK£26.4b

Through its subsidiaries, provides life and health insurance, and asset management solutions to individuals in Asia and Africa.

Sysco

Market Cap: US$35.4b

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.

Vodafone Group

Market Cap: UK£26.1b

Provides telecommunication services in Germany, the United Kingdom, rest of Europe, Turkey, and South Africa.

Hartford Insurance Group

Market Cap: US$34.9b

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

Chunghwa Telecom

Market Cap: NT$1.1t

Operates as an integrated telecommunications service provider in Taiwan and internationally.

Dubai Electricity and Water Authority (PJSC)

Market Cap: د.إ127.5b

Generates, transmits, and distributes electricity for residential, commercial, industrial, and government customers primarily in Dubai.

Martin Marietta Materials

Market Cap: US$34.6b

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

Intact Financial

Market Cap: CA$47.8b

Through its subsidiaries, provides property and casualty insurance products to individuals and businesses in Canada, the United States, the United Kingdom, and internationally.

Bank Leumi le-Israel B.M

Market Cap: ₪99.0b

Provides banking and financial services for households, small and medium enterprises, and corporations in Israel, the United Kingdom, and internationally.

Powszechna Kasa Oszczednosci Bank Polski Spólka Akcyjna

Market Cap: zł125.5b

Provides various banking products and services in Poland and internationally.

UltraTech Cement

Market Cap: ₹3.3t

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.

Ørsted

Market Cap: DKK 218.8b

Owns, develops, constructs, and operates offshore and onshore wind farms, solar farms, and energy storage and combined heat and power (CHP) plants.

First Solar

Market Cap: US$33.4b

A solar technology company, provides photovoltaic (PV) solar energy solutions in the United States, France, India, Chile, and internationally.

CEZ a. s

Market Cap: Kč692.5b

Engages in the generation, distribution, trade, and sale of electricity, heat, thermal energy and other commodities in Central Europe.

Advanced Info Service

Market Cap: ฿1.1t

Operates as a telecommunications company primarily in Thailand.

Sompo Holdings

Market Cap: JP¥5.3t

Provides property and casualty insurance services in Japan and internationally.

Huntington Bancshares

Market Cap: US$32.9b

Operates as the bank holding company for The Huntington National Bank that provides commercial, consumer, and mortgage banking services.

Qnity Electronics

Market Cap: US$32.6b

Provides materials and solutions to the semiconductor and electronics industries in the United States, rest of Americas, Europe, the Middle East, Africa, Asia Pacific, China, South Korea, Taiwan, and internationally.

ABN AMRO Bank

Market Cap: €27.5b

Provides various banking products and financial services to retail, private, and corporate banking clients in the Netherlands, rest of Europe, the United States, Asia, and internationally.

M&T Bank

Market Cap: US$31.8b

Operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that provides retail and commercial banking products and services in the United States.

Malayan Banking Berhad

Market Cap: RM 126.0b

Provides commercial banking and related financial products and services.

Ping An Bank

Market Cap: CN¥213.3b

Provides commercial banking products and services for individual and corporate customers, government agencies, institutions, and other small businesses in China and internationally.

Alcon

Market Cap: CHF 24.9b

Researches, develops, manufactures, distributes, and sells eye care products worldwide.

Hannover Rück

Market Cap: €27.1b

Provides reinsurance products and services in Germany, the United Kingdom, France, Europe, the United States, Asia, Australia, Africa, and internationally.

Banca Monte dei Paschi di Siena

Market Cap: €27.0b

Provides various banking products and services in Italy and internationally.

Ajinomoto

Market Cap: JP¥5.0t

Engages in the seasonings and foods, frozen foods, and healthcare and other businesses in Japan and internationally.

Bank Hapoalim B.M

Market Cap: ₪89.8b

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

Naturgy Energy Group

Market Cap: €26.9b

Engages in the supply, liquefaction, regasification, transport, storage, distribution, and sale of gas.

Barito Renewables Energy

Market Cap: Rp556.5t

Generates and sells power through geothermal and wind resources in Indonesia.

Tower Semiconductor

Market Cap: US$31.0b

An independent semiconductor foundry, provides technology, development, and process platforms for integrated circuits in the United States, Japan, rest of Asia, and Europe.

Bank of Jiangsu

Market Cap: CN¥207.7b

Provides various banking products and services in China.

Capitec Bank Holdings

Market Cap: R500.0b

Through its subsidiaries, provides various banking products and services in South Africa.