Serbian Software Defensive Blue Chips

ASPEED Technology

Market Cap: NT$352.5b

Operates as a fabless integrated circuit (IC) design company in Taiwan, China, the United States, and internationally.

Baxter International

Market Cap: US$11.2b

Through its subsidiaries, provides a portfolio of healthcare products in the United States.

Sanan OptoelectronicsLtd

Market Cap: CN¥77.2b

Engages in the research, development, production, and sale of compound semiconductor materials and devices in China and internationally.

BIWIN Storage Technology

Market Cap: CN¥76.7b

Researches, develops, designs, packs, tests, produces, and sells semiconductor memory.

United Spirits

Market Cap: ₹1.0t

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

Rockchip Electronics

Market Cap: CN¥76.1b

Operates as a fabless IC design company focusing on Intelligent IoT in China.

SiTime

Market Cap: US$11.0b

Designs, develops, and sells silicon timing systems solutions in Taiwan, Hong Kong, the United States, Singapore, and internationally.

Marico

Market Cap: ₹992.7b

Manufactures and sells branded consumer products in India, Bangladesh, Vietnam, and internationally.

CPFL Energia

Market Cap: R$56.8b

Through its subsidiaries, operates as an energy company in Brazil.

American Financial Group

Market Cap: US$10.9b

An insurance holding company, provides specialty property and casualty insurance products in the United States.

Dino Polska

Market Cap: zł38.5b

Operates a network of medium-sized grocery supermarkets under the Dino brand in Poland.

Max Healthcare Institute

Market Cap: ₹982.7b

Provides medical and healthcare services in India.

Tsingtao Brewery

Market Cap: CN¥74.9b

Engages in the production, distribution, wholesale, and retail sale of beer products in Mainland China, Hong Kong, Macau, and internationally.

Beijing E-Town Semiconductor Technology

Market Cap: CN¥74.6b

Beijing E-Town Semiconductor Technology Co., Ltd.

Buzzi

Market Cap: €9.1b

Manufactures, distributes, and sells cement, ready-mix concrete, and natural aggregates.

Türkiye Is Bankasi

Market Cap: ₺470.2b

Provides various banking products and services in Turkey.

Bank Albilad

Market Cap: ر.س40.3b

Through its subsidiaries, provides various banking products and services in the Kingdom of Saudi Arabia.

Busy Ming Group

Market Cap: HK$84.0b

Through its subsidiaries, operates as a food and beverage retailer in China.

SK Telecom

Market Cap: ₩15.6t

Engages in the provision of wireless telecommunication services in South Korea.

Chiba Bank

Market Cap: JP¥1.7t

Provides banking products and services in Japan and internationally.

SouthState Bank

Market Cap: US$10.7b

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.

Bangkok Dusit Medical Services

Market Cap: ฿332.1b

Operates hospitals in Thailand and internationally.

Global Unichip

Market Cap: NT$335.7b

Engages in the research and development, production, testing, and sale of embedded memory and logic components, analog components, cell libraries, and EDA tools for various IC applications.

Wintrust Financial

Market Cap: US$10.6b

A financial holding company, provides community-oriented, personal, and commercial banking services in the United States.

Encompass Health

Market Cap: US$10.6b

Provides post-acute healthcare services in the United States and Puerto Rico.

Tongfu MicroelectronicsLtd

Market Cap: CN¥73.1b

Provides integrated circuit (IC) encapsulation test services in China and internationally.

Shree Cement

Market Cap: ₹957.0b

Engages in the manufacture and sale of cement and clinker in India and internationally.

Chongqing Rural Commercial Bank

Market Cap: HK$82.6b

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

Bank of the Philippine Islands

Market Cap: ₱618.2b

Provides various financial products and services to retail and corporate clients in the Philippines.

BUA Foods

Market Cap: ₦14.4t

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

Far EasTone Telecommunications

Market Cap: NT$331.7b

Engages in the provision of telecommunications and digital application services in Taiwan.

Caixa Seguridade Participações

Market Cap: R$54.5b

Provides various life and non-life insurance products in Brazil.

Harel Insurance Investments & Financial Services

Market Cap: ₪32.4b

Offers insurance and financial services in Israel, Europe, and internationally.

Guobo Electronics

Market Cap: CN¥72.5b

Engages in the research and development, production, and sale of active phased array transmitter and receiver components and radio frequency integrated circuit related products in China.

Marks and Spencer Group

Market Cap: UK£7.6b

Operates various retail stores.

Lotus Bakeries

Market Cap: €8.7b

Provides various snack products in Belgium and internationally.