Serbian Utilities Defensive Blue Chips

Qatar Islamic Bank (Q.P.S.C.)

Market Cap: ر.ق51.7b

Provides corporate, retail, and investment banking products and services in Qatar and internationally.

Rede D'Or São Luiz

Market Cap: R$73.1b

Engages in the provision of hospital services in Brazil.

WH Group

Market Cap: HK$110.0b

An investment holding company, produces and sells packaged meats, pork, and hogs in China, North America, and Europe.

James Hardie Industries

Market Cap: AU$20.0b

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

Reinsurance Group of America

Market Cap: US$13.9b

Provides life and health, and asset-intensive reinsurance in the United States, Latin America, Canada, Europe, the Middle East, Africa, Asia, and Australia.

Suncorp Group

Market Cap: AU$19.7b

Provides insurance products to retail, corporate, and commercial customers in Australia and New Zealand.

Kirin Holdings Company

Market Cap: JP¥2.2t

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

Asahi Group Holdings

Market Cap: JP¥2.2t

Manufactures and sells beer, alcohol and non-alcohol beverages, and food products in Japan, Europe, Oceania, and Southeast Asia.

Gjensidige Forsikring

Market Cap: NOK 132.6b

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

Metro

Market Cap: CA$19.3b

Through its subsidiaries, operates as a retailer, franchisor, distributor, and manufacturer in the food and pharmaceutical sectors in Canada.

Admiral Group

Market Cap: UK£10.3b

A financial services company, provides insurance and personal lending products in the United Kingdom, France, Italy, and Spain.

HDFC Life Insurance

Market Cap: ₹1.3t

Provides individual and group insurance solutions in India.

DaVita

Market Cap: US$13.5b

Provides kidney dialysis services for patients suffering from chronic kidney failure in the United States.

Kerry Group

Market Cap: €11.8b

Provides taste and nutrition solutions.

Tryg

Market Cap: DKK 87.8b

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.

BrightSpring Health Services

Market Cap: US$13.4b

Operates as a home and community-based healthcare services platform in the United States.

Hormel Foods

Market Cap: US$13.4b

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

Anhui Conch Cement

Market Cap: CN¥90.6b

Manufactures, sells, and trades in clinker and cement products in China and internationally.

Uni-President Enterprises

Market Cap: NT$423.3b

Engages in the manufacture and sale of beverages and instant noodles in Taiwan, China, and Southeast Asia.

Everest Group

Market Cap: US$13.4b

Together with subsidiaries, provides reinsurance and insurance products in the United States, Europe, and internationally.

Realtek Semiconductor

Market Cap: NT$422.2b

Engages in the research, development, production, and sale of various integrated circuits and related application software in Taiwan, Asia, and internationally.

Globe Life

Market Cap: US$13.3b

Through its subsidiaries, provides various life and supplemental health insurance products to lower middle- and middle-income families in the United States.

Ingenic SemiconductorLtd

Market Cap: CN¥89.8b

Engages in the research and development, design, and sale of integrated circuit chip products in China and internationally.

Britannia Industries

Market Cap: ₹1.3t

Manufactures and sells various food products in India and internationally.

Punjab National Bank

Market Cap: ₹1.3t

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

SK Telecom

Market Cap: ₩20.2t

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

Chubu Electric Power Company

Market Cap: JP¥2.1t

Engages in the generation, transmission, distribution, and retail of electricity in Japan and internationally.

Piraeus Bank

Market Cap: €11.5b

Provides various banking products and services in Greece, Europe, and internationally.

ROHM

Market Cap: JP¥2.1t

Manufactures and sells electronic components worldwide.

Hippo Valley Estates

Market Cap: US$1.7b

Together with its subsidiary, Chiredzi Township (Private) Limited, engages in the growing and milling of sugar cane in Zimbabwe and internationally.

Insurance Australia Group

Market Cap: AU$18.6b

Insurance Australia Group Limited underwrites general insurance products and provides investment management services in Australia and New Zealand.

Skyverse Technology

Market Cap: CN¥88.3b

Manufactures and sells quality control equipment to enterprises involved in the front-end integrated circuit processes and packaging in China and internationally.

Align Technology

Market Cap: US$13.0b

Provides Invisalign clear aligners, Vivera retainers, and iTero intraoral scanners and services in the United States, Switzerland, and internationally.

Coloplast

Market Cap: DKK 85.0b

Engages in the development and sale of intimate healthcare products and services in Denmark, the United States, the United Kingdom, France, and internationally.

Turkiye Garanti Bankasi

Market Cap: ₺604.8b

Provides various banking products and services in Turkey.

Assurant

Market Cap: US$13.0b

Provides protection services to connected devices, homes, and automobiles in North America, Latin America, Europe, and the Asia Pacific.