Thai Materials Defensive Blue Chips

Fidelity National Financial

Market Cap: US$13.3b

Provides various insurance products in the United States.

Apollo Hospitals Enterprise

Market Cap: ₹1.3t

Provides healthcare services in India.

Bank of Baroda

Market Cap: ₹1.3t

Provides various banking products and services to individuals, government departments, and corporate customers in India and internationally.

iA Financial

Market Cap: CA$18.3b

Provides insurance and wealth management services for individual and group basis in Canada and the United States.

Brown-Forman

Market Cap: US$13.1b

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

Banque Cantonale Vaudoise

Market Cap: CHF 10.6b

Engages in the provision of various financial services in Vaud Canton and rest of Switzerland, the European Union, North America, and internationally.

Semtech

Market Cap: US$13.1b

Provides semiconductor, Internet of Things systems, and cloud connectivity service solutions in the Asia- Pacific, North America, and Europe.

Anhui Conch Cement

Market Cap: CN¥88.1b

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

Beijing Huafeng Test & Control TechnologyLtd

Market Cap: CN¥87.8b

Beijing Huafeng Test & Control Technology Co.,Ltd.

Eastroc Beverage (Group)

Market Cap: CN¥87.7b

Engages in the manufacturing and distribution of beverages in the People’s Republic of China.

KT&G

Market Cap: ₩18.3t

Engages in the production, distribution, and sale of tobacco products in South Korea, Europe, and internationally.

Etihad Etisalat

Market Cap: ر.س48.7b

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

J. M. Smucker

Market Cap: US$13.0b

Manufactures and markets branded food and beverage products worldwide.

Osaka Gas

Market Cap: JP¥2.1t

Provides natural gas, electricity, and other energy products and services in Japan and internationally.

Penumbra

Market Cap: US$12.9b

Designs, develops, manufactures, and markets medical devices in the United States and internationally.

Align Technology

Market Cap: US$12.9b

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

BrightSpring Health Services

Market Cap: US$12.9b

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

Henan Shuanghui Investment & DevelopmentLtd

Market Cap: CN¥86.5b

Henan Shuanghui Investment & Development Co.,Ltd.

Carrefour

Market Cap: €11.1b

Operates as a food retailer in France, Spain, Belgium, Poland, Romania, Brazil, Argentina, the Middle East, Africa, Asia, and internationally.

Almarai

Market Cap: ر.س48.1b

Operates as an integrated consumer food and beverage company in Saudi Arabia, other Gulf Cooperation Council countries, and internationally.

China Resources Microelectronics

Market Cap: CN¥86.3b

Engages in the manufacture and sale of semiconductors in China and internationally.

Dangote Cement

Market Cap: ₦17.3t

Engages in the preparation, manufacturing, distribution, and sale of cement and related products in Nigeria.

Webster Financial

Market Cap: US$12.8b

Operates as the bank holding company for Webster Bank, National Association that provides various financial products and services to businesses, individuals, and families in the United States.

Kokusai Electric

Market Cap: JP¥2.0t

Engages in the development, manufacture, sale, repair, and maintenance of semiconductor manufacturing equipment worldwide.

CP ALL

Market Cap: ฿416.6b

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

Coca-Cola Consolidated

Market Cap: US$12.6b

Manufactures, markets, and distributes nonalcoholic beverages in the United States.

Taiwan Cooperative Financial Holding

Market Cap: NT$401.0b

Provides banking, insurance, securities, bills finance, investment trust, asset management, and capital management services in Taiwan.

Tokyo GasLtd

Market Cap: JP¥2.0t

Engages in the production, supply, and sale of city gas and LNG in Japan.

Fresenius Medical Care

Market Cap: €10.8b

Provides dialysis and related services for individuals with renal diseases in Germany, the United States, and internationally.

MTN Nigeria Communications

Market Cap: ₦16.9t

Provides broadband fixed wireless access, telecommunication, and mobile financial services to consumer, commercial, and institutional customers in Nigeria.

Beijing YanDong MicroElectronic

Market Cap: CN¥84.0b

Beijing YanDong MicroElectronic Co., Ltd.

First Horizon

Market Cap: US$12.4b

Operates as the bank holding company for First Horizon Bank that provides various financial services.

Smith & Nephew

Market Cap: UK£9.2b

Develops, manufactures, markets, and sells medical devices and services in the United Kingdom, the United States, and internationally.

Jerónimo Martins SGPS

Market Cap: €10.6b

Operates in the food distribution sector in Portugal, Poland, Colombia, Slovakia, and internationally.

Indian Bank

Market Cap: ₹1.2t

Provides various banking products and services.

Chiba Bank

Market Cap: JP¥2.0t

Provides banking products and services in Japan and internationally.