Top 10 Stocks
Belgian 20 Index BEL20
September 11, 2015

Top 10 Stocks from the purely finance fact-based Obermatt Method for the investment strategies Value, Growth and Safety in the stock index Belgian 20 Index BEL20 from September 11, 2015 (other Top 10 Stocks):

BEL20 Top 10: Value Investment Strategy

TOP 10 Value	INDUSTRY	VALUE	GROWTH	SAFETY	COMBINED
1. Groupe Bruxelles Lambert (L, BE) ★	Multi-Sector Holdings	100	33	100	100
2. Solvay (XXL, BE) ★	Diversified Chemicals	100	36	92	100
3. D'Ieteren (XL, BE)	Distributors	100	69	50	93
4. ENGIE (XXL, FR) ★	Multi-Utilities	87	74	96	100
5. Ageas (XL, BE)	Multi-line Insurance	87	100	53	92
6. Anheuser-Busch InBev (XXL, BE) ★	Brewers	83	60	1	90
7. Umicore (XL, BE) ★	Specialty Chemicals	78	100	89	86
8. UCB (XL, BE) ★	Pharmaceuticals	75	100	57	75
9. Cofinimmo (S, BE)	Diversified REITs	75	80	20	60
10. Delhaize (XL, BE) ★	Food Retail	73	100	83	90

Published: September 11, 2015. Top 10s are published weekly by Top 10 schedule. (Obermatt Stock Update)

TOP 10 Growth	INDUSTRY	VALUE	GROWTH	SAFETY	COMBINED
1. Umicore (XL, BE) ★	Specialty Chemicals	78	100	89	86
2. Delhaize (XL, BE) ★	Food Retail	73	100	83	90
3. Ageas (XL, BE)	Multi-line Insurance	87	100	53	92
4. UCB (XL, BE) ★	Pharmaceuticals	75	100	57	75
5. Telenet (L, BE)	Cable & Satellite	8	100	85	64
6. Belgacom (L, BE) ★	Integrated Telecommunication	18	88	74	53
7. Bekaert (L, BE) ★	Steel	67	83	83	83
8. Cofinimmo (S, BE)	Diversified REITs	75	80	20	60
9. ENGIE (XXL, FR) ★	Multi-Utilities	87	74	96	100
10. D'Ieteren (XL, BE)	Distributors	100	69	50	93

Published: September 11, 2015. Top 10s are published weekly by Top 10 schedule. (Obermatt Stock Update)

TOP 10 Safety	INDUSTRY	VALUE	GROWTH	SAFETY	COMBINED
1. Groupe Bruxelles Lambert (L, BE) ★	Multi-Sector Holdings	100	33	100	100
2. ENGIE (XXL, FR) ★	Multi-Utilities	87	74	96	100
3. Solvay (XXL, BE) ★	Diversified Chemicals	100	36	92	100
4. Umicore (XL, BE) ★	Specialty Chemicals	78	100	89	86
5. Ackermans & van Haaren (L, BE)	Multi-Sector Holdings	43	60	86	60
6. Telenet (L, BE)	Cable & Satellite	8	100	85	64
7. Delhaize (XL, BE) ★	Food Retail	73	100	83	90
8. Bekaert (L, BE) ★	Steel	67	83	83	83
9. Belgacom (L, BE) ★	Integrated Telecommunication	18	88	74	53
10. bpost (L, BE) ★	Air Freight & Logistics	50	43	63	57

Published: September 11, 2015. Top 10s are published weekly by Top 10 schedule. (Obermatt Stock Update)

TOP 10 Combined	INDUSTRY	VALUE	GROWTH	SAFETY	COMBINED
1. ENGIE (XXL, FR) ★	Multi-Utilities	87	74	96	100
2. Groupe Bruxelles Lambert (L, BE) ★	Multi-Sector Holdings	100	33	100	100
3. Solvay (XXL, BE) ★	Diversified Chemicals	100	36	92	100
4. D'Ieteren (XL, BE)	Distributors	100	69	50	93
5. Ageas (XL, BE)	Multi-line Insurance	87	100	53	92
6. Delhaize (XL, BE) ★	Food Retail	73	100	83	90
7. Anheuser-Busch InBev (XXL, BE) ★	Brewers	83	60	1	90
8. Umicore (XL, BE) ★	Specialty Chemicals	78	100	89	86
9. Bekaert (L, BE) ★	Steel	67	83	83	83
10. UCB (XL, BE) ★	Pharmaceuticals	75	100	57	75