Mercado de Valores de Buenos Aires Index MERVAL

MERVAL Top 10: Value Investment Strategy

TOP 10 Value	VALUEVVV		GROWTHVV		SAFETYVV		COMBINED
1. Edenor (L, AR)  Electric Utilities
1. Edenor (L, AR)   Electric Utilities	93		7		56		50
2. Cablevisión (XL, AR)  Cable & Satellite
2. Cablevisión (XL, AR)   Cable & Satellite	87		33		1		28
3. Central Puerto (M, AR)  Power Producers & Traders
3. Central Puerto (M, AR)   Power Producers & Traders	85		71		65		100
4. Pampa (L, AR)  Electric Utilities
4. Pampa (L, AR)   Electric Utilities	82		100		75		100
5. BBVA (L, AR)  Diversified Banks
5. BBVA (L, AR)   Diversified Banks	81		93		67		100
6. Ternium Argentina (L, AR)  Steel
6. Ternium Argentina (L, AR)   Steel	76		64		83		91
7. Distribuidora de Gas Cuyana (S, AR)  Gas Utilities
7. Distribuidora de Gas Cuyana (S, AR)   Gas Utilities	75		70		96		100
8. Transener (S, AR)  Electric Utilities
8. Transener (S, AR)   Electric Utilities	69		100		94		100
9. Mirgor (M, AR)  Auto Parts & Equipment
9. Mirgor (M, AR)   Auto Parts & Equipment	68		33		100		78
10. YPF (XL, AR)  Oil & Gas Integrated
10. YPF (XL, AR)   Oil & Gas Integrated	65		100		40		93

November 8, 2019. 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. Transener (S, AR)   Electric Utilities
1. Transener (S, AR)   Electric Utilities	69		100		94		100
2. Pampa (L, AR)   Electric Utilities
2. Pampa (L, AR)   Electric Utilities	82		100		75		100
3. Enel Generación Costanera (S, AR)   Power Producers & Traders
3. Enel Generación Costanera (S, AR)   Power Producers & Traders	57		100		74		100
4. Transportadora de Gas Del Sur (L, AR)   Oil & Gas Transportation
4. Transportadora de Gas Del Sur (L, AR)   Oil & Gas Transportation	15		100		96		95
5. YPF (XL, AR)   Oil & Gas Integrated
5. YPF (XL, AR)   Oil & Gas Integrated	65		100		40		93
6. San Miguel (S, AR)   Packaged Foods & Meats
6. San Miguel (S, AR)   Packaged Foods & Meats	53		100		17		58
7. Transportadora de Gas del Norte (M, AR)   Oil & Gas Transportation
7. Transportadora de Gas del Norte (M, AR)   Oil & Gas Transportation	55		97		81		100
8. BBVA (L, AR)   Diversified Banks
8. BBVA (L, AR)   Diversified Banks	81		93		67		100
9. Grupo Financiero Galicia (L, AR)   Diversified Banks
9. Grupo Financiero Galicia (L, AR)   Diversified Banks	50		93		67		100
10. Banco Macro (L, AR)   Diversified Banks
10. Banco Macro (L, AR)   Diversified Banks	51		92		64		100

November 8, 2019. 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. Bolsas y Mercados Argentinos (S, AR)   Financial Exchanges & Data
1. Bolsas y Mercados Argentinos (S, AR)   Financial Exchanges & Data	55		74		100		100
2. Mirgor (M, AR)   Auto Parts & Equipment
2. Mirgor (M, AR)   Auto Parts & Equipment	68		33		100		78
3. Tenaris (XL, LU)   Oil & Gas Equipment
3. Tenaris (XL, LU)   Oil & Gas Equipment	29		60		100		72
4. Distribuidora de Gas Cuyana (S, AR)   Gas Utilities
4. Distribuidora de Gas Cuyana (S, AR)   Gas Utilities	75		70		96		100
5. Transportadora de Gas Del Sur (L, AR)   Oil & Gas Transportation
5. Transportadora de Gas Del Sur (L, AR)   Oil & Gas Transportation	15		100		96		95
6. Transener (S, AR)   Electric Utilities
6. Transener (S, AR)   Electric Utilities	69		100		94		100
7. Ternium Argentina (L, AR)   Steel
7. Ternium Argentina (L, AR)   Steel	76		64		83		91
8. Transportadora de Gas del Norte (M, AR)   Oil & Gas Transportation
8. Transportadora de Gas del Norte (M, AR)   Oil & Gas Transportation	55		97		81		100
9. Pampa (L, AR)   Electric Utilities
9. Pampa (L, AR)   Electric Utilities	82		100		75		100
10. Enel Generación Costanera (S, AR)   Power Producers & Traders
10. Enel Generación Costanera (S, AR)   Power Producers & Traders	57		100		74		100

November 8, 2019. 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. Transener (S, AR)   Electric Utilities
1. Transener (S, AR)   Electric Utilities	69		100		94		100
2. Pampa (L, AR)   Electric Utilities
2. Pampa (L, AR)   Electric Utilities	82		100		75		100
3. Distribuidora de Gas Cuyana (S, AR)   Gas Utilities
3. Distribuidora de Gas Cuyana (S, AR)   Gas Utilities	75		70		96		100
4. BBVA (L, AR)   Diversified Banks
4. BBVA (L, AR)   Diversified Banks	81		93		67		100
5. Transportadora de Gas del Norte (M, AR)   Oil & Gas Transportation
5. Transportadora de Gas del Norte (M, AR)   Oil & Gas Transportation	55		97		81		100
6. Enel Generación Costanera (S, AR)   Power Producers & Traders
6. Enel Generación Costanera (S, AR)   Power Producers & Traders	57		100		74		100
7. Bolsas y Mercados Argentinos (S, AR)   Financial Exchanges & Data
7. Bolsas y Mercados Argentinos (S, AR)   Financial Exchanges & Data	55		74		100		100
8. Central Puerto (M, AR)   Power Producers & Traders
8. Central Puerto (M, AR)   Power Producers & Traders	85		71		65		100
9. Grupo Financiero Galicia (L, AR)   Diversified Banks
9. Grupo Financiero Galicia (L, AR)   Diversified Banks	50		93		67		100
10. Banco Macro (L, AR)   Diversified Banks
10. Banco Macro (L, AR)   Diversified Banks	51		92		64		100

November 8, 2019. 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 November 8, 2019.