Mercado de Valores de Buenos Aires Index MERVAL

MERVAL Top 10: Value Investment Strategy

TOP 10 Value	VALUEVVV		GROWTHVV		SAFETYVV		COMBINED
1. Petrobras (XXL, BR) ☀  Oil & Gas Integrated
1. Petrobras (XXL, BR) ☀   Oil & Gas Integrated	86		47		23		47
2. Petrobras Argentina (L, AR)  Oil & Gas Integrated
2. Petrobras Argentina (L, AR)   Oil & Gas Integrated	85		68		92		100
3. Tenaris (XL, LU)  Oil & Gas Equipment
3. Tenaris (XL, LU)   Oil & Gas Equipment	69		1		41		36
4. Telecom Argentina (XL, AR)  Integrated Telecommunication
4. Telecom Argentina (XL, AR)   Integrated Telecommunication	52		100		96		77
5. Ternium Argentina (L, AR)  Steel
5. Ternium Argentina (L, AR)   Steel	49		57		100		84
6. YPF (XL, AR)  Oil & Gas Integrated
6. YPF (XL, AR)   Oil & Gas Integrated	45		77		60		65
7. Edenor (L, AR)  Electric Utilities
7. Edenor (L, AR)   Electric Utilities	42		100		14		48
8. Grupo Financiero Galicia (L, AR)  Diversified Banks
8. Grupo Financiero Galicia (L, AR)   Diversified Banks	26		100		35		75
9. Aluar Aluminio Argentino (L, AR)  Aluminum
9. Aluar Aluminio Argentino (L, AR)   Aluminum	21		92		82		50
10. SCP (S, AR)  Oil & Gas Production
10. SCP (S, AR)   Oil & Gas Production	19		86		91		50

December 4, 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. Telecom Argentina (XL, AR)   Integrated Telecommunication
1. Telecom Argentina (XL, AR)   Integrated Telecommunication	52		100		96		77
2. Grupo Financiero Galicia (L, AR)   Diversified Banks
2. Grupo Financiero Galicia (L, AR)   Diversified Banks	26		100		35		75
3. Edenor (L, AR)   Electric Utilities
3. Edenor (L, AR)   Electric Utilities	42		100		14		48
4. Pampa (L, AR)   Electric Utilities
4. Pampa (L, AR)   Electric Utilities	1		100		26		9
5. Aluar Aluminio Argentino (L, AR)   Aluminum
5. Aluar Aluminio Argentino (L, AR)   Aluminum	21		92		82		50
6. Banco Macro (L, AR)   Diversified Banks
6. Banco Macro (L, AR)   Diversified Banks	9		92		55		83
7. BBVA (L, AR)   Diversified Banks
7. BBVA (L, AR)   Diversified Banks	5		89		60		86
8. SCP (S, AR)   Oil & Gas Production
8. SCP (S, AR)   Oil & Gas Production	19		86		91		50
9. YPF (XL, AR)   Oil & Gas Integrated
9. YPF (XL, AR)   Oil & Gas Integrated	45		77		60		65
10. Petrobras Argentina (L, AR)   Oil & Gas Integrated
10. Petrobras Argentina (L, AR)   Oil & Gas Integrated	85		68		92		100

December 4, 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	49		57		100		84
2. Telecom Argentina (XL, AR)   Integrated Telecommunication
2. Telecom Argentina (XL, AR)   Integrated Telecommunication	52		100		96		77
3. Petrobras Argentina (L, AR)   Oil & Gas Integrated
3. Petrobras Argentina (L, AR)   Oil & Gas Integrated	85		68		92		100
4. SCP (S, AR)   Oil & Gas Production
4. SCP (S, AR)   Oil & Gas Production	19		86		91		50
5. Aluar Aluminio Argentino (L, AR)   Aluminum
5. Aluar Aluminio Argentino (L, AR)   Aluminum	21		92		82		50
6. YPF (XL, AR)   Oil & Gas Integrated
6. YPF (XL, AR)   Oil & Gas Integrated	45		77		60		65
7. BBVA (L, AR)   Diversified Banks
7. BBVA (L, AR)   Diversified Banks	5		89		60		86
8. Banco Macro (L, AR)   Diversified Banks
8. Banco Macro (L, AR)   Diversified Banks	9		92		55		83
9. Tenaris (XL, LU)   Oil & Gas Equipment
9. Tenaris (XL, LU)   Oil & Gas Equipment	69		1		41		36
10. Grupo Financiero Galicia (L, AR)   Diversified Banks
10. Grupo Financiero Galicia (L, AR)   Diversified Banks	26		100		35		75

December 4, 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. Petrobras Argentina (L, AR)   Oil & Gas Integrated
1. Petrobras Argentina (L, AR)   Oil & Gas Integrated	85		68		92		100
2. BBVA (L, AR)   Diversified Banks
2. BBVA (L, AR)   Diversified Banks	5		89		60		86
3. Ternium Argentina (L, AR)   Steel
3. Ternium Argentina (L, AR)   Steel	49		57		100		84
4. Banco Macro (L, AR)   Diversified Banks
4. Banco Macro (L, AR)   Diversified Banks	9		92		55		83
5. Telecom Argentina (XL, AR)   Integrated Telecommunication
5. Telecom Argentina (XL, AR)   Integrated Telecommunication	52		100		96		77
6. Grupo Financiero Galicia (L, AR)   Diversified Banks
6. Grupo Financiero Galicia (L, AR)   Diversified Banks	26		100		35		75
7. YPF (XL, AR)   Oil & Gas Integrated
7. YPF (XL, AR)   Oil & Gas Integrated	45		77		60		65
8. SCP (S, AR)   Oil & Gas Production
8. SCP (S, AR)   Oil & Gas Production	19		86		91		50
9. Aluar Aluminio Argentino (L, AR)   Aluminum
9. Aluar Aluminio Argentino (L, AR)   Aluminum	21		92		82		50
10. Edenor (L, AR)   Electric Utilities
10. Edenor (L, AR)   Electric Utilities	42		100		14		48

December 4, 2015. Top 10s are published weekly by Top 10 schedule. (Free Stock Update)

☀ This company has a special achievement which is documented on its stock research page.

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 December 4, 2015.