Banks, insurance, properties, REITs, utilities
Banks for your savings, insurers for your peace of mind, landlords for your office, and utilities for your power—the unglamorous empire builders
- Essential services with stable demand
- Solid dividend yield
- Operating history >20 years
JP Morgan Chase & Co. Common Stock
JPMorgan Chase & Co. is a dominant, diversified financial services giant with a strong global presence and robust business segments. It offers stability and consistent performance despite a complex regulatory environment, positioning itself as a cornerstone of the financial industry.
Bank of America Corporation Common Stock
Bank of America is a robust diversified financial institution, leveraging its vast consumer base and strong market positions across banking, wealth management, and capital markets. It demonstrates consistent profitability and strategic adaptability in a dynamic financial landscape, making it a high-quality business.
Wells Fargo & Company Common Stock
Wells Fargo is a leading diversified financial services company in the US, known for its extensive banking, investment, mortgage, and consumer and commercial finance offerings. Despite past regulatory challenges, the company demonstrates resilience with a strong deposit base and improving profitability, making it a fundamentally sound institution in the financial sector.
U.S. Bancorp Common Stock
U.S. Bancorp is a well-diversified financial services firm with a strong regional presence, offering a broad suite of banking and payment solutions. Its business model benefits from both interest-bearing activities and fee-based services, providing a stable revenue mix. The company demonstrates consistent profitability and a commitment to shareholder returns, making it a reliable player in the banking sector.
PNC Financial Services Group Inc. (The) Common Stock
PNC Financial Services Group is a diversified financial services company with a strong regional presence in the United States. Its business model, encompassing retail, corporate, and asset management, offers stability through varied revenue streams, but faces constant pressure from evolving market conditions and intense competition. The company maintains a solid operational foundation.
Truist Financial Corporation Common Stock
Truist Financial Corporation, formed from the 2019 merger of BB&T and SunTrust, stands as a prominent U.S. regional bank with approximately US$544 billion in assets. It delivers extensive banking and trust services across the Southeastern and Mid-Atlantic states, serving both consumer and wholesale banking sectors. The company's significant scale and diversified offerings provide a robust foundation within the financial services industry.
NYSE
AIG
American International Group Inc. New Common Stock
Financial Services, Insurance - Diversified
American International Group Inc. New Common Stock
American International Group (AIG) is a leading global insurer offering diversified commercial and individual insurance products. The company demonstrates a solid business model, primarily driven by its robust General Insurance segment, yet operates within a dynamic regulatory and technological landscape.
Prudential Financial Inc. Common Stock
Prudential Financial is a diversified financial services leader, offering insurance and investment management globally. Its extensive product suite and international presence provide a stable business model, though it navigates a dynamic regulatory and interest-rate environment. The company's fundamental strength lies in its broad reach across financial products.
Chubb Limited Common Stock
Chubb Limited is the world's largest publicly traded property and casualty (P&C) insurer, operating across 54 countries with a diversified portfolio of insurance and reinsurance products. The business demonstrates strong profitability and stability, underpinned by its global reach and disciplined underwriting in a growing market.
Realty Income Corporation Common Stock
Realty Income is a prominent retail REIT, known for its vast portfolio of over 15,500 properties, primarily under triple-net leases, providing reliable monthly dividends. Its diversified tenant base and geographic footprint contribute to a stable business model, although its high payout ratio warrants attention.
Southern Company (The) Common Stock
The Southern Company is a large, regulated electric and natural gas utility with a stable business model, serving 9 million customers across multiple states. Its core strengths lie in essential service provision and a significant asset base, though capital-intensive projects like nuclear plant construction introduce operational risks. The business quality is fundamentally sound due to its regulated nature.
Duke Energy Corporation (Holding Company) Common Stock
Duke Energy Corporation is a prominent regulated utility providing electricity and natural gas to millions across the Southeast and Midwest United States. Its focus on regulated assets ensures stable earnings and dividends, underpinned by long-term infrastructure investments and a transition towards renewable generation.
Industrial and Commercial Bank of China Limited
Industrial and Commercial Bank of China (ICBC) is the world's largest bank by assets, a diversified financial group providing extensive banking products and services globally. Its robust business model, underpinned by significant scale and state backing, positions it as a stable financial institution within China and internationally.
Bank of China Limited
Bank of China is a pillar of China's financial system, offering comprehensive banking and financial services domestically and internationally. Its diversified revenue streams and state backing provide significant stability in the vast Chinese market. While growth may be moderate, its entrenched position and essential services underpin its fundamental business strength.
China Construction Bank Corporation
China Construction Bank Corporation is a dominant, state-owned financial institution offering a full spectrum of banking services. Its sheer scale, diversified revenue streams, and implicit government backing provide significant stability and consistent profitability.
Bank of Communications Co., Ltd.
Bank of Communications is a large state-owned diversified commercial bank in China, offering a comprehensive suite of financial products and services domestically and internationally. Its extensive network and government backing provide a stable foundation, though profitability faces challenges from a complex economic environment. The business model is robust, but growth is moderating.
BOC Hong Kong (Holdings) Limited
BOC Hong Kong is a key financial services provider in Hong Kong and mainland China, offering a comprehensive suite of banking and insurance products. Its robust regional presence and stable income streams, particularly from net interest income, underpin a resilient business model.
Ping An Insurance (Group) Company of China, Ltd.
Ping An Insurance (Group) is a diversified Chinese financial services giant, excelling in life insurance, banking, and asset management. Its integrated ecosystem and strong domestic market position provide a robust foundation, making it a high-quality business. Strategic investments in technology further enhance its competitive edge and operational efficiency.
China Life Insurance Company Limited
China Life Insurance is a dominant state-backed insurer in a large, growing Chinese market. Its extensive distribution network and brand trust provide a strong moat. The business model is stable, driven by an expanding middle class and increasing health awareness.
CLP Holdings Limited
CLP Holdings is a regulated electric utility, providing essential services across Asia-Pacific. Its stable business model benefits from diversified operations, particularly in Hong Kong and Australia, ensuring steady cash flows. While facing challenges from the global energy transition, its commitment to renewables positions it for long-term sustainability.
Power Assets Holdings Limited
Power Assets Holdings Limited is a stable Hong Kong-based investment holding company primarily focused on electricity generation, transmission, and distribution across diversified international markets including the UK and Australia. It is characterized by its high dividend yield and steady earnings from regulated utility assets.
The Hong Kong and China Gas Company Limited
The Hong Kong and China Gas Company Limited is a stable utility with a near-monopoly in its domestic market and significant growth avenues in mainland China. Its diversification into new energy solutions positions it for long-term relevance, balancing consistent cash flows from its core business with strategic expansion.
MTR Corporation Limited
MTR Corporation Limited is a robust infrastructure company with a unique, highly defensible business model integrating railway operations with property development in Hong Kong. It leverages urban growth to create synergistic value, complemented by growing international ventures, making it a high-quality, stable business.
Sun Hung Kai Properties Limited
Sun Hung Kai Properties is a premier Hong Kong property developer with a diversified portfolio spanning residential, commercial, and retail. Its strong market position, recurring income from investment properties, and robust financial health underpin its resilient business model and long-term stability.