Top 10 Stocks
Belgian 20 Index BEL20
August 19, 2016

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 August 19, 2016 (other Top 10 Stocks):

BEL20 Top 10: Value Investment Strategy

TOP 10 Value	INDUSTRY	VALUE	GROWTH	SAFETY	COMBINED
1. UCB (XL, BE) ★	Pharmaceuticals	100	76	59	100
2. Solvay (XXL, BE) ★	Diversified Chemicals	94	40	100	100
3. D'Ieteren (XL, BE)	Distributors	93	57	62	97
4. Umicore (XL, BE) ★	Specialty Chemicals	86	59	81	98
5. Bekaert (L, BE) ★	Steel	85	93	75	100
6. Ageas (XL, BE)	Multi-line Insurance	76	31	41	56
7. Groupe Bruxelles Lambert (L, BE) ★	Multi-Sector Holdings	70	77	53	85
8. Delta Lloyd (L, NL)	Life & Health Insurance	70	2	20	14
9. Ackermans & van Haaren (L, BE)	Multi-Sector Holdings	69	35	64	61
10. ENGIE (XXL, FR) ★	Multi-Utilities	68	12	67	52

Published: August 19, 2016. Top 10s are published weekly by Top 10 schedule. (Obermatt Stock Update)

TOP 10 Growth	INDUSTRY	VALUE	GROWTH	SAFETY	COMBINED
1. Bekaert (L, BE) ★	Steel	85	93	75	100
2. Groupe Bruxelles Lambert (L, BE) ★	Multi-Sector Holdings	70	77	53	85
3. UCB (XL, BE) ★	Pharmaceuticals	100	76	59	100
4. Delhaize (XL, BE) ★	Food Retail	68	69	87	85
5. Umicore (XL, BE) ★	Specialty Chemicals	86	59	81	98
6. D'Ieteren (XL, BE)	Distributors	93	57	62	97
7. Cofinimmo (S, BE)	Diversified REITs	13	54	72	46
8. Elia System Operator (M, BE)	Electric Utilities	58	52	14	33
9. Etablissements Fr. Colruyt (L, BE) ★	Food Retail	40	50	57	42

Published: August 19, 2016. Top 10s are published weekly by Top 10 schedule. (Obermatt Stock Update)

TOP 10 Safety	INDUSTRY	VALUE	GROWTH	SAFETY	COMBINED
1. Solvay (XXL, BE) ★	Diversified Chemicals	94	40	100	100
2. Belgacom (L, BE) ★	Integrated Telecommunication	62	18	100	73
3. Delhaize (XL, BE) ★	Food Retail	68	69	87	85
4. Umicore (XL, BE) ★	Specialty Chemicals	86	59	81	98
5. Telenet (L, BE)	Cable & Satellite	52	29	78	71
6. Bekaert (L, BE) ★	Steel	85	93	75	100
7. Cofinimmo (S, BE)	Diversified REITs	13	54	72	46
8. ENGIE (XXL, FR) ★	Multi-Utilities	68	12	67	52
9. Ackermans & van Haaren (L, BE)	Multi-Sector Holdings	69	35	64	61
10. KBC (XXL, BE)	Diversified Banks	13	15	64	4

Published: August 19, 2016. Top 10s are published weekly by Top 10 schedule. (Obermatt Stock Update)

TOP 10 Combined	INDUSTRY	VALUE	GROWTH	SAFETY	COMBINED
1. Bekaert (L, BE) ★	Steel	85	93	75	100
2. UCB (XL, BE) ★	Pharmaceuticals	100	76	59	100
3. Solvay (XXL, BE) ★	Diversified Chemicals	94	40	100	100
4. Umicore (XL, BE) ★	Specialty Chemicals	86	59	81	98
5. D'Ieteren (XL, BE)	Distributors	93	57	62	97
6. Delhaize (XL, BE) ★	Food Retail	68	69	87	85
7. Groupe Bruxelles Lambert (L, BE) ★	Multi-Sector Holdings	70	77	53	85
8. Belgacom (L, BE) ★	Integrated Telecommunication	62	18	100	73
9. Telenet (L, BE)	Cable & Satellite	52	29	78	71
10. Ackermans & van Haaren (L, BE)	Multi-Sector Holdings	69	35	64	61