Serbian Telecom Defensive Blue Chips

Standard Bank Group

Market Cap: R501.9b

Provides financial products and services in South Africa and internationally.

Sumitomo Mitsui Trust Group

Market Cap: JP¥4.9t

Operates as a trust bank in Japan and internationally.

Advanced Info Service

Market Cap: ฿1.0t

Operates as a telecommunications company primarily in Thailand.

Malayan Banking Berhad

Market Cap: RM 124.8b

Provides commercial banking and related financial products and services.

Credicorp

Market Cap: US$30.5b

Provides various banking services and products in Peru, Bermuda, Colombia, Bolivia, Panama, Chile, the United States, the Cayman Islands, and Mexico.

Federal National Mortgage Association

Market Cap: US$30.2b

Provides financing solutions for residential mortgages in the United States.

Global Unichip

Market Cap: NT$958.2b

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.

AXIA Energia

Market Cap: R$154.3b

Through its subsidiaries, engages in the generation, transmission, distribution, and commercialization of electricity in Brazil.

Fresenius SE KGaA

Market Cap: €25.9b

A health care company, provides products and services for chronically ill patients in North America, Europe, the Asia-Pacific, Latin America, and Africa.

Ajinomoto

Market Cap: JP¥4.7t

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

PG&E

Market Cap: US$29.5b

Through its subsidiary, Pacific Gas and Electric Company, engages in the sale and delivery of electricity and natural gas to customers in northern and central California, the United States.

Kraft Heinz

Market Cap: US$29.3b

Manufactures and markets food and beverage products in North America and internationally.

GE HealthCare Technologies

Market Cap: US$29.1b

Engages in the development, manufacture, and marketing of products, services, and complementary digital solutions used in the diagnosis, treatment, and monitoring of patients in the United States, Canada, and internationally.

Foshan Haitian Flavouring and Food

Market Cap: CN¥194.5b

Foshan Haitian Flavouring and Food Company Ltd.

Heidelberg Materials

Market Cap: €25.2b

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

Willis Towers Watson

Market Cap: US$28.9b

Operates as an advisory, broking, and solutions company worldwide.

Moore Threads Technology

Market Cap: CN¥192.7b

Engages in the development of GPU chips and related products.

Aviva

Market Cap: UK£21.3b

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

Sampo Oyj

Market Cap: €24.8b

Provides non-life insurance products and services in Finland, Sweden, Norway, Denmark, Estonia, Lithuania, Latvia, Spain, Gibraltar, Germany, the Netherlands, France, and the United Kingdom.

Citizens Financial Group

Market Cap: US$28.4b

Operates as the bank holding company that provides retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations, and institutions in the United States.

Shenzhen Mindray Bio-Medical Electronics

Market Cap: CN¥189.7b

Shenzhen Mindray Bio-Medical Electronics Co., Ltd.

Bank Rakyat Indonesia (Persero)

Market Cap: Rp498.8t

Provides various banking products and services in Indonesia and internationally.

Ørsted

Market Cap: DKK 180.5b

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

AIB Group

Market Cap: €24.1b

Provides banking and financial products and services to personal, business, and corporate customers in the Republic of Ireland, the United Kingdom, and internationally.

Dollar General

Market Cap: US$27.6b

A discount retailer, provides various merchandise products in the southern, southwestern, midwestern, and eastern United States.

American Water Works Company

Market Cap: US$27.5b

Through its subsidiaries, provides water and wastewater services in the United States.

Gulf Development

Market Cap: ฿915.1b

Generates and sells electricity and steam to public and private clients in Thailand and internationally.

Atmos Energy

Market Cap: US$27.4b

Engages in the regulated natural gas distribution, and pipeline and storage businesses in the United States.

Quest Diagnostics

Market Cap: US$27.3b

Provides diagnostic testing and services in the United States.

W. R. Berkley

Market Cap: US$27.2b

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

Nestlé India

Market Cap: ₹2.6t

Engages in the manufacture and sale of food products in India and internationally.

Seven & i Holdings

Market Cap: JP¥4.3t

Operates convenience stores in Japan, North America, and internationally.

Banco BPM

Market Cap: €23.6b

Provides banking and financial products and services to individual, business, and corporate customers in Italy.

Banco de Crédito del Perú

Market Cap: S/91.5b

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

George Weston

Market Cap: CA$37.9b

Provides food and drug retailing, and financial services in Canada.

Huaneng Lancang River Hydropower

Market Cap: CN¥180.3b

Engages in the development, construction, operation, and management of hydropower and new energy power generation projects.