Mercado de Valores de Buenos Aires Index MERVAL

MERVAL Top 10: Value Investment Strategy

TOP 10 Value	VALUEVVV		GROWTHVV		SAFETYVV		COMBINED
1. BBVA (L, AR)  Diversified Banks
1. BBVA (L, AR)   Diversified Banks	98		90		75		100
2. Central Puerto (M, AR)  Power Producers & Traders
2. Central Puerto (M, AR)   Power Producers & Traders	96		17		67		64
3. Edenor (L, AR)  Electric Utilities
3. Edenor (L, AR)   Electric Utilities	94		15		39		51
4. Transportadora de Gas del Norte (M, AR)  Oil & Gas Transportation
4. Transportadora de Gas del Norte (M, AR)   Oil & Gas Transportation	92		64		91		100
5. Pampa (L, AR)  Electric Utilities
5. Pampa (L, AR)   Electric Utilities	86		51		63		73
6. San Miguel (S, AR)  Packaged Foods & Meats
6. San Miguel (S, AR)   Packaged Foods & Meats	85		32		34		51
7. Ternium Argentina (L, AR)  Steel
7. Ternium Argentina (L, AR)   Steel	79		85		83		100
8. Petrobras (XXL, BR) ☀  Oil & Gas Integrated
8. Petrobras (XXL, BR) ☀   Oil & Gas Integrated	79		68		57		83
9. Banco Macro (L, AR)  Diversified Banks
9. Banco Macro (L, AR)   Diversified Banks	78		100		69		96
10. Distribuidora de Gas Cuyana (S, AR)  Gas Utilities
10. Distribuidora de Gas Cuyana (S, AR)   Gas Utilities	77		19		98		71

April 17, 2020. 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. Banco Macro (L, AR)   Diversified Banks
1. Banco Macro (L, AR)   Diversified Banks	78		100		69		96
2. Grupo Financiero Galicia (L, AR)   Diversified Banks
2. Grupo Financiero Galicia (L, AR)   Diversified Banks	48		98		62		83
3. Transportadora de Gas Del Sur (L, AR)   Oil & Gas Transportation
3. Transportadora de Gas Del Sur (L, AR)   Oil & Gas Transportation	67		93		93		100
4. Enel Generación Costanera (S, AR)   Power Producers & Traders
4. Enel Generación Costanera (S, AR)   Power Producers & Traders	76		93		63		90
5. BBVA (L, AR)   Diversified Banks
5. BBVA (L, AR)   Diversified Banks	98		90		75		100
6. YPF (XL, AR)   Oil & Gas Integrated
6. YPF (XL, AR)   Oil & Gas Integrated	37		88		42		57
7. Ternium Argentina (L, AR)   Steel
7. Ternium Argentina (L, AR)   Steel	79		85		83		100
8. Holcim (Argentina) (M, AR)   Construction Materials
8. Holcim (Argentina) (M, AR)   Construction Materials	21		75		66		72
9. Grupo Supervielle (M, AR)   Diversified Banks
9. Grupo Supervielle (M, AR)   Diversified Banks	62		71		27		62
10. Petrobras (XXL, BR) ☀   Oil & Gas Integrated
10. Petrobras (XXL, BR) ☀   Oil & Gas Integrated	79		68		57		83

April 17, 2020. 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. Tenaris (XL, LU)   Oil & Gas Equipment
1. Tenaris (XL, LU)   Oil & Gas Equipment	38		36		100		68
2. Transener (S, AR)   Electric Utilities
2. Transener (S, AR)   Electric Utilities	73		63		98		95
3. Distribuidora de Gas Cuyana (S, AR)   Gas Utilities
3. Distribuidora de Gas Cuyana (S, AR)   Gas Utilities	77		19		98		71
4. Transportadora de Gas Del Sur (L, AR)   Oil & Gas Transportation
4. Transportadora de Gas Del Sur (L, AR)   Oil & Gas Transportation	67		93		93		100
5. Transportadora de Gas del Norte (M, AR)   Oil & Gas Transportation
5. Transportadora de Gas del Norte (M, AR)   Oil & Gas Transportation	92		64		91		100
6. Mirgor (M, AR)   Auto Parts & Equipment
6. Mirgor (M, AR)   Auto Parts & Equipment	75		36		84		82
7. Ternium Argentina (L, AR)   Steel
7. Ternium Argentina (L, AR)   Steel	79		85		83		100
8. Bolsas y Mercados Argentinos (S, AR)   Financial Exchanges & Data
8. Bolsas y Mercados Argentinos (S, AR)   Financial Exchanges & Data	51		3		77		32
9. BBVA (L, AR)   Diversified Banks
9. BBVA (L, AR)   Diversified Banks	98		90		75		100
10. Banco Macro (L, AR)   Diversified Banks
10. Banco Macro (L, AR)   Diversified Banks	78		100		69		96

April 17, 2020. 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. BBVA (L, AR)   Diversified Banks
1. BBVA (L, AR)   Diversified Banks	98		90		75		100
2. Transportadora de Gas Del Sur (L, AR)   Oil & Gas Transportation
2. Transportadora de Gas Del Sur (L, AR)   Oil & Gas Transportation	67		93		93		100
3. Transportadora de Gas del Norte (M, AR)   Oil & Gas Transportation
3. Transportadora de Gas del Norte (M, AR)   Oil & Gas Transportation	92		64		91		100
4. Ternium Argentina (L, AR)   Steel
4. Ternium Argentina (L, AR)   Steel	79		85		83		100
5. Banco Macro (L, AR)   Diversified Banks
5. Banco Macro (L, AR)   Diversified Banks	78		100		69		96
6. Transener (S, AR)   Electric Utilities
6. Transener (S, AR)   Electric Utilities	73		63		98		95
7. Enel Generación Costanera (S, AR)   Power Producers & Traders
7. Enel Generación Costanera (S, AR)   Power Producers & Traders	76		93		63		90
8. Grupo Financiero Galicia (L, AR)   Diversified Banks
8. Grupo Financiero Galicia (L, AR)   Diversified Banks	48		98		62		83
9. Petrobras (XXL, BR) ☀   Oil & Gas Integrated
9. Petrobras (XXL, BR) ☀   Oil & Gas Integrated	79		68		57		83
10. Mirgor (M, AR)   Auto Parts & Equipment
10. Mirgor (M, AR)   Auto Parts & Equipment	75		36		84		82

April 17, 2020. 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 April 17, 2020.