Mercado de Valores de Buenos Aires Index MERVAL

MERVAL Top 10: Value Investment Strategy

TOP 10 Value	VALUEVVV		GROWTHVV		SAFETYVV		COMBINED
1. Cresud (L, AR)  Real Estate Diversified
1. Cresud (L, AR)   Real Estate Diversified	68		44		1		38
2. Mirgor (M, AR)  Auto Parts & Equipment
2. Mirgor (M, AR)   Auto Parts & Equipment	64		1		56		25
3. Distribuidora de Gas Cuyana (S, AR)  Gas Utilities
3. Distribuidora de Gas Cuyana (S, AR)   Gas Utilities	41		94		100		100
4. Telecom Argentina (XL, AR)  Integrated Telecommunication
4. Telecom Argentina (XL, AR)   Integrated Telecommunication	37		95		90		90
5. San Miguel (S, AR)  Packaged Foods & Meats
5. San Miguel (S, AR)   Packaged Foods & Meats	36		11		7		1

February 2, 2018. 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. Holcim (Argentina) (M, AR)   Construction Materials
1. Holcim (Argentina) (M, AR)   Construction Materials	6		100		96		83
2. Transportadora de Gas del Norte (M, AR)   Oil & Gas Transportation
2. Transportadora de Gas del Norte (M, AR)   Oil & Gas Transportation	4		100		73		86
3. Telecom Argentina (XL, AR)   Integrated Telecommunication
3. Telecom Argentina (XL, AR)   Integrated Telecommunication	37		95		90		90
4. Distribuidora de Gas Cuyana (S, AR)   Gas Utilities
4. Distribuidora de Gas Cuyana (S, AR)   Gas Utilities	41		94		100		100
5. Petrolera Pampa (S, AR)   Oil & Gas Production
5. Petrolera Pampa (S, AR)   Oil & Gas Production	21		93		87		89
6. Edenor (L, AR)   Electric Utilities
6. Edenor (L, AR)   Electric Utilities	11		92		80		92
7. Autopistas Del Sol (XS, AR)   Highways & Railtracks
7. Autopistas Del Sol (XS, AR)   Highways & Railtracks	27		90		91		85
8. Central Puerto (M, AR)   Power Producers & Traders
8. Central Puerto (M, AR)   Power Producers & Traders	7		84		91		84
9. Aluar Aluminio Argentino (L, AR)   Aluminum
9. Aluar Aluminio Argentino (L, AR)   Aluminum	24		69		41		73
10. Enel Generación Costanera (S, AR)   Power Producers & Traders
10. Enel Generación Costanera (S, AR)   Power Producers & Traders	1		62		67		31

February 2, 2018. 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. Distribuidora de Gas Cuyana (S, AR)   Gas Utilities
1. Distribuidora de Gas Cuyana (S, AR)   Gas Utilities	41		94		100		100
2. Holcim (Argentina) (M, AR)   Construction Materials
2. Holcim (Argentina) (M, AR)   Construction Materials	6		100		96		83
3. Central Puerto (M, AR)   Power Producers & Traders
3. Central Puerto (M, AR)   Power Producers & Traders	7		84		91		84
4. Autopistas Del Sol (XS, AR)   Highways & Railtracks
4. Autopistas Del Sol (XS, AR)   Highways & Railtracks	27		90		91		85
5. Telecom Argentina (XL, AR)   Integrated Telecommunication
5. Telecom Argentina (XL, AR)   Integrated Telecommunication	37		95		90		90
6. Petrolera Pampa (S, AR)   Oil & Gas Production
6. Petrolera Pampa (S, AR)   Oil & Gas Production	21		93		87		89
7. Petrobras (XXL, BR) ☀   Oil & Gas Integrated
7. Petrobras (XXL, BR) ☀   Oil & Gas Integrated	13		40		81		45
8. Edenor (L, AR)   Electric Utilities
8. Edenor (L, AR)   Electric Utilities	11		92		80		92
9. Transportadora de Gas del Norte (M, AR)   Oil & Gas Transportation
9. Transportadora de Gas del Norte (M, AR)   Oil & Gas Transportation	4		100		73		86
10. Enel Generación Costanera (S, AR)   Power Producers & Traders
10. Enel Generación Costanera (S, AR)   Power Producers & Traders	1		62		67		31

February 2, 2018. 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. Distribuidora de Gas Cuyana (S, AR)   Gas Utilities
1. Distribuidora de Gas Cuyana (S, AR)   Gas Utilities	41		94		100		100
2. Edenor (L, AR)   Electric Utilities
2. Edenor (L, AR)   Electric Utilities	11		92		80		92
3. Telecom Argentina (XL, AR)   Integrated Telecommunication
3. Telecom Argentina (XL, AR)   Integrated Telecommunication	37		95		90		90
4. Transportadora de Gas del Norte (M, AR)   Oil & Gas Transportation
4. Transportadora de Gas del Norte (M, AR)   Oil & Gas Transportation	4		100		73		86
5. Autopistas Del Sol (XS, AR)   Highways & Railtracks
5. Autopistas Del Sol (XS, AR)   Highways & Railtracks	27		90		91		85
6. Central Puerto (M, AR)   Power Producers & Traders
6. Central Puerto (M, AR)   Power Producers & Traders	7		84		91		84
7. Holcim (Argentina) (M, AR)   Construction Materials
7. Holcim (Argentina) (M, AR)   Construction Materials	6		100		96		83
8. Petrolera Pampa (S, AR)   Oil & Gas Production
8. Petrolera Pampa (S, AR)   Oil & Gas Production	21		93		87		89
9. Aluar Aluminio Argentino (L, AR)   Aluminum
9. Aluar Aluminio Argentino (L, AR)   Aluminum	24		69		41		73

February 2, 2018. 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 February 2, 2018.