Serbian Software Defensive Blue Chips

Zhejiang Zheneng Electric Power

Market Cap: CN¥71.3b

Zhejiang Zheneng Electric Power Co., Ltd.

CPFL Energia

Market Cap: R$53.5b

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

Taiwan Mobile

Market Cap: NT$339.4b

Provides telecommunications, broadband, retail, digital, and financial services in Taiwan and internationally.

Alpha Bank

Market Cap: €9.2b

Provides various banking and financial products and services in Greece and internationally.

J Sainsbury

Market Cap: UK£7.8b

Engages in the food, general merchandise and clothing retailing, and financial services activities in the United Kingdom.

Globus Medical

Market Cap: US$10.3b

Develops and commercializes healthcare solutions for patients with musculoskeletal disorders in the United States and internationally.

Discovery

Market Cap: R169.9b

Provides various insurance products and services primarily in South Africa and the United Kingdom.

Puya Semiconductor (Shanghai)

Market Cap: CN¥69.6b

Engages in research, development, design, and sale of non-volatile memory chips and memory-based derivative chips in China and internationally.

United Spirits

Market Cap: ₹987.5b

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

Old National Bancorp

Market Cap: US$10.2b

Operates as the bank holding company for Old National Bank that provides consumer and commercial banking services in the United States.

Globalstar

Market Cap: US$10.2b

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

Shree Cement

Market Cap: ₹983.0b

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

OPC Energy

Market Cap: ₪31.1b

Engages in the development, construction, operation, generation, and supply of electricity and energy in Israel.

Smithfield Foods

Market Cap: US$10.2b

Produces various packaged meats and fresh pork products in the United States and internationally.

Beazley

Market Cap: UK£7.6b

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

Commercial Bank for Investment and Development of Vietnam

Market Cap: ₫267.9t

Provides various banking products and services in Vietnam and internationally.

Cullen/Frost Bankers

Market Cap: US$10.2b

Operates as the bank holding company for Frost Bank that provides commercial and consumer banking services in Texas.

Unión de Cervecerías Peruanas Backus y JohnstonA

Market Cap: S/34.5b

Unión de Cervecerías Peruanas Backus y Johnston S.A.A.

Old Republic International

Market Cap: US$10.1b

Through its subsidiaries, provides insurance underwriting and related services in the United States and Canada.

Darling Ingredients

Market Cap: US$10.1b

Develops, produces, and sells sustainable natural ingredients from edible and inedible bio-nutrients in North America, Europe, China, South America, and internationally.

Banca Transilvania

Market Cap: RON 46.3b

Provides various banking products and services in Romania, Italy, and the Republic of Moldova.

SouthState Bank

Market Cap: US$10.0b

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.

OGE Energy

Market Cap: US$10.0b

Through its subsidiaries, generates, transmits, distributes, and sells electric energy in the United States.

Lotus Bakeries

Market Cap: €8.8b

Provides various snack products in Belgium and internationally.