Turkish Software Defensive Blue Chips

Orkla

Market Cap: NOK 105.1b

Operates as an industrial investment company within brands and consumer-oriented businesses worldwide.

Alpha Bank

Market Cap: €9.4b

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

Alchip Technologies

Market Cap: NT$343.7b

Engages in the research, design, development, and manufacturing of application specific integrated circuits and system on a chip in the United States, China, Japan, Taiwan, and internationally.

Indus Towers

Market Cap: ₹1.0t

A telecom infrastructure company, engages in the operation and maintenance of wireless communication towers and related infrastructures for various telecom service providers in India, Nigeria, Uganda, and Zambia.

Zhejiang Zheneng Electric Power

Market Cap: CN¥72.5b

Zhejiang Zheneng Electric Power Co., Ltd.

China Zheshang Bank

Market Cap: HK$83.6b

Provides corporate and retail banking services in Mainland China.

Safaricom

Market Cap: KSh1.4t

Provides telecommunication services in Kenya and Ethiopia.

United Spirits

Market Cap: ₹1.0t

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

Manila Electric

Market Cap: ₱653.2b

Manila Electric Company holds a congressional franchise to construct, operate, and maintain an electric distribution system in the Philippines.

TIM

Market Cap: R$54.5b

Engages in the telecommunications sector in Brazil.

Marks and Spencer Group

Market Cap: UK£7.9b

Operates various retail stores.

Encompass Health

Market Cap: US$10.6b

Operates inpatient rehabilitation hospitals in the United States and Puerto Rico.

Lotus Bakeries

Market Cap: €9.2b

Provides various snack products in Belgium and internationally.

Budweiser Brewing Company APAC

Market Cap: HK$82.3b

An investment holding company, engages in brewing and distribution of beer in South Korea, Japan, New Zealand, China, India, Vietnam, Southeast Asia, and internationally.

Suzhou Maxwell Technologies

Market Cap: CN¥71.3b

Engages in the design, research and development, production, and sale of solar cell production equipment in China.

ASMPT

Market Cap: HK$82.1b

An investment holding company, engages in the design, manufacture, and marketing of machines, tools, and materials used in the semiconductor and electronics assembly industries internationally.

Centrica

Market Cap: UK£7.8b

Operates as an integrated energy company in the United Kingdom, Ireland, Scandinavia, North America, and internationally.

Yangzhou Yangjie Electronic Technology

Market Cap: CN¥71.0b

Yangzhou Yangjie Electronic Technology Co., Ltd.

SD Guthrie Berhad

Market Cap: RM 42.5b

Operates as an integrated plantations company in Malaysia and internationally.

Sichuan Chuantou EnergyLtd

Market Cap: CN¥70.7b

Engages in the clean energy business in China.

Globalstar

Market Cap: US$10.4b

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

Allegro MicroSystems

Market Cap: US$10.3b

Designs, develops, manufactures, and markets sensor integrated circuits (ICs) and application-specific power ICs for sensing, motion control, and power management functions of complex electromechanical or power conversion systems.

Chongqing Rural Commercial Bank

Market Cap: HK$80.8b

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

Unigroup Guoxin Microelectronics

Market Cap: CN¥69.9b

Unigroup Guoxin Microelectronics Co., Ltd.

Novatek Microelectronics

Market Cap: NT$327.4b

A fabless chip design company, designs, develops and sells a range of display driver integrated circuits (IC) and system-on-a-chip (SoC) solutions in Taiwan, Asia, and internationally.

OGE Energy

Market Cap: US$10.2b

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

Zions Bancorporation National Association

Market Cap: US$10.2b

Provides various banking products and related services primarily in the states of Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming.

Silicon Motion Technology

Market Cap: US$10.2b

Designs, develops, and markets NAND flash controllers for solid-state storage devices and related devices in China, Japan, Singapore, Taiwan, Korea, the United States, and internationally.

CPFL Energia

Market Cap: R$52.6b

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

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.

Vietnam Commercial Bank for Industry and Trade

Market Cap: ₫265.2t

Provides various banking products and services in Vietnam and internationally.

Shree Cement

Market Cap: ₹960.8b

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

Mowi

Market Cap: NOK 99.0b

A seafood company, produces and sells Atlantic salmon products worldwide.

Old National Bancorp

Market Cap: US$10.0b

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

Old Republic International

Market Cap: US$10.0b

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

WinWay Technology

Market Cap: NT$321.3b

Designs, processes, and sells optoelectronic product test fixtures, integrated circuit test interfaces, and fixtures and their components in Taiwan, the Americas, China, Asia, Europe, and Canada.