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. stands as a global financial services leader, operating as a highly diversified bank. Its robust structure, encompassing consumer banking, corporate and investment banking, and asset management, provides a stable and broad earnings base, underpinning its status as a high-quality financial institution.
Bank of America Corporation Common Stock
Bank of America is a diversified financial services leader with a robust consumer banking franchise and a significant global markets presence. Its extensive branch network and digital capabilities underpin a resilient revenue base, making it a foundational holding in the financial sector. The company demonstrates consistent profitability despite fluctuating economic conditions.
Wells Fargo & Company Common Stock
Wells Fargo & Company is a diversified financial services leader in the U.S., offering a broad range of banking, investment, and wealth management services. The company is actively working through past regulatory issues, focusing on efficiency and risk management. While a large established player, its growth may be constrained by its sheer size and the mature nature of the U.S. banking sector.
U.S. Bancorp Common Stock
U.S. Bancorp is a well-diversified financial services company with a strong regional banking presence and significant payment services. Its robust fee-based businesses complement traditional lending, providing a stable revenue mix. While facing typical banking sector headwinds, its established market position and conservative management underpin its quality.
PNC Financial Services Group, Inc. (The) Common Stock
PNC Financial Services Group is a well-established regional bank offering diversified financial services across the United States. Its robust operations in retail, corporate, and asset management provide a stable revenue base and strong market presence, positioning it as a significant player in the financial sector.
Truist Financial Corporation Common Stock
Truist Financial Corporation, born from the merger of BB&T and SunTrust, stands as a prominent regional bank in the Southeastern and Mid-Atlantic United States. It offers a comprehensive suite of banking and trust services, leveraging its substantial scale and diversified revenue streams to maintain a strong market position despite ongoing integration efforts and industry competition.
American International Group, Inc. New Common Stock
American International Group (AIG) is a global insurance powerhouse, offering a wide array of property, casualty, and specialty insurance products. The company has recently streamlined its operations, focusing on its core General Insurance segment after spinning off its life insurance unit. This strategic shift aims to unlock value and improve operational efficiency.
Prudential Financial, Inc. Common Stock
Prudential Financial is a leading diversified insurance and asset management firm with a strong market presence across the U.S., Japan, and other international markets. Its broad product portfolio and investment management capabilities provide a robust, if sometimes complex, revenue stream. The business model is sound, leveraging scale and a strong brand in a mature but essential industry.
Chubb Limited Common Stock
Chubb Limited is a premier global property and casualty insurer, offering a diverse portfolio across commercial, personal, agriculture, reinsurance, and life insurance. Its expansive international presence and comprehensive product lines contribute to a resilient business model, operating within a highly competitive and regulated industry.
Realty Income Corporation Common Stock
Realty Income Corporation is a prominent retail real estate investment trust (REIT) known for its reliable monthly dividends. With a vast portfolio of over 15,500 properties globally and a triple-net lease model, the company provides stable, long-term revenue streams from diverse tenants, making it a consistent income-generating investment.
Southern Company (The) Common Stock
The Southern Company is a major regulated electric and gas utility in the U.S., serving approximately 9 million customers. It boasts a stable business model with predictable cash flows due to its regulated nature and a diversified energy generation portfolio. The company is actively investing in grid modernization, renewable energy, and new nuclear capacity, which supports its long-term growth and decarbonization goals.
Duke Energy Corporation (Holding Company) Common Stock
Duke Energy is a major regulated electric and gas utility in the U.S., characterized by stable demand for its essential services. Its strategic focus on infrastructure modernization and the transition to cleaner energy sources positions it for steady, albeit regulated, growth. The business model provides predictable cash flows and a reliable dividend for investors.
Industrial and Commercial Bank of China Limited
Industrial and Commercial Bank of China (ICBC) is a dominant force in China's financial sector, leveraging an extensive network and robust deposit base. Its diversified banking services cater to a vast customer base, underpinning stable profitability despite economic shifts. The core business model is resilient, but growth prospects are tied to broader economic trends.
Bank of China Limited
Bank of China, a cornerstone of China's financial system, demonstrates strong stability and a diversified revenue base from corporate, personal, and treasury operations. Its extensive network and state backing provide a significant competitive advantage. While growth is moderate, its critical role in the Chinese economy underpins its long-term resilience.
China Construction Bank Corporation
China Construction Bank is a dominant, state-backed financial institution with a vast network and growing digital presence, crucial to China's economic stability. Its diversified banking services cater to a wide customer base, underpinned by strong government support and strategic alignment with national development goals.
Bank of Communications Co., Ltd.
Bank of Communications is one of China's largest state-owned commercial banks, offering a diversified suite of financial services. Its core business revolves around traditional lending, deposit-taking, and fee-based services for both retail and corporate clients. The bank exhibits stable profitability and asset quality, operating within a highly regulated but supportive domestic market.
BOC Hong Kong (Holdings) Limited
BOC Hong Kong (Holdings) Limited is a leading commercial banking group in Hong Kong, benefiting from a strong domestic franchise and its strategic ties to the Bank of China. The company operates a diversified banking business, offering services to both corporate and individual customers. Its established market presence and extensive network provide a stable foundation in the competitive financial landscape.
Ping An Insurance (Group) Company of China, Ltd.
Ping An Insurance, a leading diversified financial services provider in China, demonstrates robust profitability across its insurance, banking, and asset management segments. While leveraging a strong integrated 'finance + health and senior care' ecosystem, the company operates in a highly competitive and regulated domestic market, with sustained growth in its core insurance business.
China Life Insurance Company Limited
China Life Insurance is a leading state-owned insurer in China, benefiting from a massive domestic market and supportive government policies. Its robust market position in life and health insurance provides a stable foundation, though profitability can be influenced by investment returns and regulatory shifts. The business model, focused on long-term policy sales, offers predictable cash flows.
CLP Holdings Limited
CLP Holdings is a well-established utility company benefiting from a regulated operating environment in Hong Kong and strategic diversification into other Asian markets and Australia. Its core business provides stable cash flows, but growth is inherently limited by its mature domestic market. The company is actively investing in renewable energy to support long-term sustainability and future growth.
Power Assets Holdings Limited
Power Assets Holdings Limited (0006.HK) is a robust utility company with diversified operations across Hong Kong, the UK, and Australia, generating stable income from essential services. Its investment-holding model provides exposure to various energy and infrastructure assets. The business exhibits consistent profitability and a strong dividend yield, making it an attractive proposition for income-focused investors.
The Hong Kong and China Gas Company Limited
The Hong Kong and China Gas Company Limited (Towngas) is a well-established utility providing essential gas and energy services across Hong Kong and Mainland China. Its business model, focused on regulated gas distribution and a growing renewable energy portfolio, offers stability and defensive characteristics. While growth in mature markets may be modest, expansion into new energy solutions presents future opportunities.
MTR Corporation Limited
MTR Corporation is a unique infrastructure-and-property play, dominating Hong Kong's public transport with a profitable 'Rail plus Property' model. Its strong asset base and recurrent revenue streams provide stability, but growth is tied to urban development cycles and international expansion. The business model is fundamentally sound and resilient.
Sun Hung Kai Properties Limited
Sun Hung Kai Properties Limited is a leading Hong Kong-based property developer with a diversified portfolio spanning development, investment, and various other services. While the company exhibits strong market presence and an integrated business model, it operates within a challenging real estate environment in both Hong Kong and mainland China, marked by high supply and policy shifts.