Serbian Software Defensive Blue Chips

Ajinomoto

Market Cap: JP¥4.2t

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

Banco do Brasil

Market Cap: R$141.6b

Provides banking products and services for individuals, companies, and public sectors in Brazil and internationally.

BT Group

Market Cap: UK£20.0b

Provides communications products and services in the United Kingdom, Europe, the Middle East, Africa, the Americas, and the Asia Pacific.

BNP Paribas Fortis

Market Cap: €22.9b

Provides various financial services in Belgium, Turkey, Luxembourg, and internationally.

GlobalFoundries

Market Cap: US$27.1b

A semiconductor foundry, provides range of mainstream wafer fabrication services and technologies worldwide.

EnBW Energie Baden-Württemberg

Market Cap: €22.6b

Operates as an integrated energy company in Germany, Rest of Europe, and internationally.

Regions Financial

Market Cap: US$26.8b

A financial holding company, provides various banking and related products and services to individual and corporate customers.

DexCom

Market Cap: US$26.6b

A medical device company, focuses on the design, development, and commercialization of continuous glucose monitoring (CGM) systems in the United States and internationally.

CGN Power

Market Cap: HK$207.5b

Operates and manages nuclear power stations, sells electricity generated by these stations, and provides related technical services in the People’s Republic of China.

ON Semiconductor

Market Cap: US$26.5b

Provides intelligent sensing and power solutions in Hong Kong, Singapore, the United Kingdom, the United States, and internationally.

Markel Group

Market Cap: US$26.5b

Through its subsidiaries, engages in the insurance business in the United States and internationally.

Abu Dhabi Islamic Bank PJSC

Market Cap: د.إ96.9b

Provides banking, financing, and investing services in the United Arab Emirates, rest of the Middle East, and internationally.

W. R. Berkley

Market Cap: US$26.4b

An insurance holding company, operates as a commercial line writer worldwide.

Banco Santander (Brasil)

Market Cap: R$136.5b

Provides various banking products and services to individuals, small and medium enterprises, and corporate customers in Brazil and internationally.

Sumitomo Mitsui Trust Group

Market Cap: JP¥4.0t

Operates as a trust bank in Japan and internationally.

Aviva

Market Cap: UK£18.9b

Provides various insurance, retirement, and wealth products in the United Kingdom, Ireland, Canada, and internationally.

VERBUND

Market Cap: €21.7b

Generates, trades in, and sells electricity to energy exchange markets, traders, electric utilities and industrial companies, and household and commercial customers in Austria and internationally.

Samsung Life Insurance

Market Cap: ₩36.8t

Engages in the life insurance business to corporate and individual customers in South Korea and internationally.

First Citizens BancShares

Market Cap: US$25.6b

Operates as the holding company for First-Citizens Bank & Trust Company that provides retail and commercial banking services to individuals, businesses, and professionals in the United States and internationally.

China National Nuclear Power

Market Cap: CN¥176.3b

Engages in the investment, development, construction, operation, and management of nuclear power projects in the People's Republic of China.

Telenor

Market Cap: NOK 241.4b

Operates as a telecommunication company worldwide.

Cincinnati Financial

Market Cap: US$25.4b

Provides property casualty insurance products in the United States.

Public Bank Berhad

Market Cap: RM 99.1b

Provides banking products and services.

KeyCorp

Market Cap: US$25.3b

Operates as the holding company for KeyBank National Association that provides various retail and commercial banking products and services in the United States.

Banco de Crédito del Perú

Market Cap: S/84.8b

Provides banking products and services to individuals, small and medium-sized enterprises (SME), and companies in Peru, Panama, and the United States.

United Microelectronics

Market Cap: NT$790.5b

Operates as a semiconductor wafer foundry in Taiwan, China, Hong Kong, Japan, Korea, the United States, Europe, and internationally.

Telefônica Brasil

Market Cap: R$129.8b

Operates as a mobile telecommunications company in Brazil.

Sigma Healthcare

Market Cap: AU$35.1b

Operates as a retail pharmacy franchisor and pharmaceutical wholesale and distributor to community pharmacies primarily in Australia.

Pernod Ricard

Market Cap: €20.9b

Produces and sells wines and spirits worldwide.

Hon. Precision

Market Cap: NT$781.8b

Engages in the manufacture and sale of machinery and related components, automatic control equipment engineering, and machinery installations in Taiwan.

CLP Holdings

Market Cap: HK$194.3b

An investment holding company, engages in the generation, retail, transmission, and distribution of electricity in Hong Kong, Mainland China, India, Thailand, Taiwan, and Australia.

Luzhou LaojiaoLtd

Market Cap: CN¥170.2b

Produces and sells alcoholic products in China and internationally.

China Minsheng Banking

Market Cap: CN¥170.2b

Provides banking products and services in the People's Republic of China.

JD Health International

Market Cap: HK$192.6b

An investment holding company, engages in the operation of an online healthcare platform in the People’s Republic of China.

Hana Financial Group

Market Cap: ₩35.3t

Through its subsidiaries, provides financial services in South Korea.

Hua Hong Semiconductor

Market Cap: HK$192.1b

An investment holding company, engages in the manufacture and sale of semiconductor products in China, North America, Asia, Europe, and Japan.