Serbian Software Defensive Blue Chips

Winbond Electronics

Market Cap: NT$474.8b

Engages in the design, development, manufacture, and marketing of very large scale integration integrated circuits (ICs) for various microelectronic applications in Asia, the Americas, Europe, and internationally.

CP ALL

Market Cap: ฿465.6b

Operates and franchises convenience stores under the 7-Eleven name to other retailers primarily in Thailand, Malaysia, and internatinally.

Shanghai United Imaging Healthcare

Market Cap: CN¥103.3b

Shanghai United Imaging Healthcare Co., Ltd.

China Jushi

Market Cap: CN¥103.0b

Engages in the manufacture and sale of fiberglass and related products in China and internationally.

Origin Energy

Market Cap: AU$21.0b

An integrated energy company, engages in the exploration and production of natural gas, electricity generation, wholesale and retail sale of electricity and gas, and sale of liquefied natural gas in Australia and internationally.

Wens Foodstuff Group

Market Cap: CN¥102.5b

Operates as an agricultural and animal husbandry company in China.

SDIC Power Holdings

Market Cap: CN¥102.3b

Engages in the electricity generation business in China.

Tryg

Market Cap: DKK 93.4b

Engages in the provision of insurance products and services to private, small and medium sized commercial, and corporate customers in Denmark, the United States, rest of Nordic, Luxembourg, the United Kingdom, and internationally.

Reinsurance Group of America

Market Cap: US$14.7b

Provides reinsurance and financial solutions.

Tele2

Market Cap: SEK 132.4b

Provides fixed and mobile connectivity and entertainment services in Sweden, Lithuania, Latvia, and Estonia.

Brookfield Renewable

Market Cap: US$14.5b

Owns and operates a portfolio of renewable power and sustainable solution assets.

Jentech Precision Industrial

Market Cap: NT$458.1b

Manufactures, processes, and trades in precision tooling, and electronic parts and components in Taiwan and China.

Xi'an ESWIN Material Technology

Market Cap: CN¥100.2b

Xi'an ESWIN Material Technology Co., Ltd.

Tower Semiconductor

Market Cap: US$14.5b

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

Huaneng Power International

Market Cap: HK$112.6b

Generates and sells electric power to the regional or provincial grid companies in the People’s Republic of China and internationally.

Universal Health Services

Market Cap: US$14.4b

Through its subsidiaries, owns and operates acute care hospitals, and outpatient and behavioral health care facilities.

FinecoBank Banca Fineco

Market Cap: €12.2b

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

James Hardie Industries

Market Cap: AU$20.3b

Engages in the manufacture and sale of fiber cement, fiber gypsum, and cement bonded boards in the United States, Australia, Europe, and New Zealand.

Mapfre

Market Cap: €12.2b

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

Brookfield Wealth Solutions

Market Cap: US$14.3b

Through its subsidiaries, provides retirement services, wealth protection products, and capital solutions to individuals and institutions.

Erie Indemnity

Market Cap: US$14.3b

Operates as a managing attorney-in-fact for the subscribers at the Erie Insurance Exchange in the United States.

ageas

Market Cap: €12.1b

Engages in insurance business.

Fidelity National Financial

Market Cap: US$14.1b

Provides various insurance products in the United States.

Indian Bank

Market Cap: ₹1.3t

Provides various banking products and services.

Gjensidige Forsikring

Market Cap: NOK 133.8b

Provides general insurance and pension products in Norway, Sweden, Denmark, Finland, Latvia, Lithuania, and Estonia.

Nova

Market Cap: US$14.0b

Engages in the design, development, production, and sale of process control systems used in the manufacture of semiconductors in Taiwan, the United States, China, Korea, and internationally.

Brown-Forman

Market Cap: US$14.0b

Manufactures, distills, bottles, imports, exports, markets, and sells a variety of alcohol beverages.

Ambuja Cements

Market Cap: ₹1.3t

Manufactures, markets, and sells cement and related products to individual homebuilders, developers, infrastructure projects, masons and contractors, professionals, and architects and engineers in India.

Everest Group

Market Cap: US$13.9b

Through its subsidiaries, provides reinsurance and insurance products in the United States, Europe, and internationally.

Aier Eye Hospital Group

Market Cap: CN¥96.0b

Operates as a ophthalmology chain medical company in China, Hong Kong, Europe, the United States, and Southeast Asia.

Absa Group

Market Cap: R222.6b

Provides retail and business banking, corporate and investment banking, insurance, financial, and wealth management products and services in South Africa and internationally.

Etihad Etisalat

Market Cap: ر.س51.9b

Through its subsidiaries, establishes and operates mobile wireless telecommunication and fiber optic networks in the Kingdom of Saudi Arabia.

Sanlam

Market Cap: R221.7b

Provides various financial solutions to individual, business, and institutional clients in South Africa, rest of Africa, Asia, and internationally.

Indus Towers

Market Cap: ₹1.3t

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

Kirin Holdings Company

Market Cap: JP¥2.1t

Engages in food and beverages, alcoholic beverages, pharmaceuticals, and health science businesses.

Hormel Foods

Market Cap: US$13.7b

Develops, processes, and distributes various meat, nuts, and other food products to foodservice, convenience store, and commercial customers in the United States and internationally.