Mercado de Valores de Buenos Aires Index MERVAL

MERVAL Top 10: Value Investment Strategy

TOP 10 Value	VALUEVVV		GROWTHVV		SAFETYVV		COMBINED
1. Petrobras Argentina (L, AR)  Oil & Gas Integrated
1. Petrobras Argentina (L, AR)   Oil & Gas Integrated	85		68		92		100
2. Petrobras (XXL, BR) ☀  Oil & Gas Integrated
2. Petrobras (XXL, BR) ☀   Oil & Gas Integrated	83		18		13		44
3. Tenaris (XL, LU)  Oil & Gas Equipment
3. Tenaris (XL, LU)   Oil & Gas Equipment	83		1		43		1
4. Telecom Argentina (XL, AR)  Integrated Telecommunication
4. Telecom Argentina (XL, AR)   Integrated Telecommunication	77		100		50		77
5. Grupo Financiero Galicia (L, AR)  Diversified Banks
5. Grupo Financiero Galicia (L, AR)   Diversified Banks	72		100		35		75
6. Ternium Argentina (L, AR)  Steel
6. Ternium Argentina (L, AR)   Steel	67		100		100		100
7. Banco Macro (L, AR)  Diversified Banks
7. Banco Macro (L, AR)   Diversified Banks	64		92		55		83
8. Edenor (L, AR)  Electric Utilities
8. Edenor (L, AR)   Electric Utilities	42		26		59		48
9. Aluar Aluminio Argentino (L, AR)  Aluminum
9. Aluar Aluminio Argentino (L, AR)   Aluminum	21		92		83		50
10. SCP (S, AR)  Oil & Gas Production
10. SCP (S, AR)   Oil & Gas Production	19		86		33		50

June 26, 2015. Top 10s are published weekly by Top 10 schedule. (Free Stock Update)

MERVAL Top 10: Growth Investment Strategy

TOP 10 Growth	VALUEVVV		GROWTHVV		SAFETYVV		COMBINED
1. Ternium Argentina (L, AR)   Steel
1. Ternium Argentina (L, AR)   Steel	67		100		100		100
2. Telecom Argentina (XL, AR)   Integrated Telecommunication
2. Telecom Argentina (XL, AR)   Integrated Telecommunication	77		100		50		77
3. Grupo Financiero Galicia (L, AR)   Diversified Banks
3. Grupo Financiero Galicia (L, AR)   Diversified Banks	72		100		35		75
4. Banco Macro (L, AR)   Diversified Banks
4. Banco Macro (L, AR)   Diversified Banks	64		92		55		83
5. Aluar Aluminio Argentino (L, AR)   Aluminum
5. Aluar Aluminio Argentino (L, AR)   Aluminum	21		92		83		50
6. BBVA (L, AR)   Diversified Banks
6. BBVA (L, AR)   Diversified Banks	4		89		60		86
7. SCP (S, AR)   Oil & Gas Production
7. SCP (S, AR)   Oil & Gas Production	19		86		33		50
8. Petrobras Argentina (L, AR)   Oil & Gas Integrated
8. Petrobras Argentina (L, AR)   Oil & Gas Integrated	85		68		92		100
9. Pampa (L, AR)   Electric Utilities
9. Pampa (L, AR)   Electric Utilities	1		59		52		9
10. Edenor (L, AR)   Electric Utilities
10. Edenor (L, AR)   Electric Utilities	42		26		59		48

June 26, 2015. Top 10s are published weekly by Top 10 schedule. (Free Stock Update)

MERVAL Top 10: Safety Investment Strategy

TOP 10 Safety	VALUEVVV		GROWTHVV		SAFETYVV		COMBINED
1. Ternium Argentina (L, AR)   Steel
1. Ternium Argentina (L, AR)   Steel	67		100		100		100
2. Petrobras Argentina (L, AR)   Oil & Gas Integrated
2. Petrobras Argentina (L, AR)   Oil & Gas Integrated	85		68		92		100
3. Aluar Aluminio Argentino (L, AR)   Aluminum
3. Aluar Aluminio Argentino (L, AR)   Aluminum	21		92		83		50
4. BBVA (L, AR)   Diversified Banks
4. BBVA (L, AR)   Diversified Banks	4		89		60		86
5. Edenor (L, AR)   Electric Utilities
5. Edenor (L, AR)   Electric Utilities	42		26		59		48
6. Banco Macro (L, AR)   Diversified Banks
6. Banco Macro (L, AR)   Diversified Banks	64		92		55		83
7. Pampa (L, AR)   Electric Utilities
7. Pampa (L, AR)   Electric Utilities	1		59		52		9
8. Telecom Argentina (XL, AR)   Integrated Telecommunication
8. Telecom Argentina (XL, AR)   Integrated Telecommunication	77		100		50		77
9. Tenaris (XL, LU)   Oil & Gas Equipment
9. Tenaris (XL, LU)   Oil & Gas Equipment	83		1		43		1
10. Grupo Financiero Galicia (L, AR)   Diversified Banks
10. Grupo Financiero Galicia (L, AR)   Diversified Banks	72		100		35		75

June 26, 2015. Top 10s are published weekly by Top 10 schedule. (Free Stock Update)

MERVAL Top 10: Combined Investment Strategy

TOP 10 Combined	VALUEVVV		GROWTHVV		SAFETYVV		COMBINED
1. Ternium Argentina (L, AR)   Steel
1. Ternium Argentina (L, AR)   Steel	67		100		100		100
2. Petrobras Argentina (L, AR)   Oil & Gas Integrated
2. Petrobras Argentina (L, AR)   Oil & Gas Integrated	85		68		92		100
3. BBVA (L, AR)   Diversified Banks
3. BBVA (L, AR)   Diversified Banks	4		89		60		86
4. Banco Macro (L, AR)   Diversified Banks
4. Banco Macro (L, AR)   Diversified Banks	64		92		55		83
5. Telecom Argentina (XL, AR)   Integrated Telecommunication
5. Telecom Argentina (XL, AR)   Integrated Telecommunication	77		100		50		77
6. Grupo Financiero Galicia (L, AR)   Diversified Banks
6. Grupo Financiero Galicia (L, AR)   Diversified Banks	72		100		35		75
7. Aluar Aluminio Argentino (L, AR)   Aluminum
7. Aluar Aluminio Argentino (L, AR)   Aluminum	21		92		83		50
8. SCP (S, AR)   Oil & Gas Production
8. SCP (S, AR)   Oil & Gas Production	19		86		33		50
9. Edenor (L, AR)   Electric Utilities
9. Edenor (L, AR)   Electric Utilities	42		26		59		48
10. Petrobras (XXL, BR) ☀   Oil & Gas Integrated
10. Petrobras (XXL, BR) ☀   Oil & Gas Integrated	83		18		13		44

June 26, 2015. Top 10s are published weekly by Top 10 schedule. (Free Stock Update)

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Top 10 lists may contain fewer than 10 stocks due to Obermatt’s top 10 quality standards.

Top 10 Stocks from the purely finance fact-based Obermatt Method for the investment strategies Value, Growth and Safety in the stock index Mercado de Valores de Buenos Aires Index MERVAL from June 26, 2015.