Mercado de Valores de Buenos Aires Index MERVAL

MERVAL Top 10: Value Investment Strategy

TOP 10 Value	VALUEVVV		GROWTHVV		SAFETYVV		COMBINED
1. Transportadora de Gas del Norte (M, AR)  Oil & Gas Transportation
1. Transportadora de Gas del Norte (M, AR)   Oil & Gas Transportation	100		47		100		97
2. Central Puerto (M, AR)  Power Producers & Traders
2. Central Puerto (M, AR)   Power Producers & Traders	92		69		73		97
3. Banco Macro (L, AR)  Diversified Banks
3. Banco Macro (L, AR)   Diversified Banks	91		89		71		96
4. Transener (S, AR)  Electric Utilities
4. Transener (S, AR)   Electric Utilities	83		19		100		81
5. Transportadora de Gas Del Sur (L, AR)  Oil & Gas Transportation
5. Transportadora de Gas Del Sur (L, AR)   Oil & Gas Transportation	80		26		95		82
6. Distribuidora de Gas Cuyana (S, AR)  Gas Utilities
6. Distribuidora de Gas Cuyana (S, AR)   Gas Utilities	79		1		100		72
7. Ternium Argentina (L, AR)  Steel
7. Ternium Argentina (L, AR)   Steel	78		88		100		100
8. Enel Generación Costanera (S, AR)  Power Producers & Traders
8. Enel Generación Costanera (S, AR)   Power Producers & Traders	78		34		69		71
9. Pampa (L, AR)  Electric Utilities
9. Pampa (L, AR)   Electric Utilities	77		29		50		61
10. Mirgor (M, AR)  Auto Parts & Equipment
10. Mirgor (M, AR)   Auto Parts & Equipment	69		67		100		100

September 25, 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. Cablevisión (XL, AR)   Cable & Satellite
1. Cablevisión (XL, AR)   Cable & Satellite	44		100		3		38
2. Banco Macro (L, AR)   Diversified Banks
2. Banco Macro (L, AR)   Diversified Banks	91		89		71		96
3. Grupo Financiero Galicia (L, AR)   Diversified Banks
3. Grupo Financiero Galicia (L, AR)   Diversified Banks	32		89		64		81
4. Ternium Argentina (L, AR)   Steel
4. Ternium Argentina (L, AR)   Steel	78		88		100		100
5. Petrobras (XXL, BR) ☀   Oil & Gas Integrated
5. Petrobras (XXL, BR) ☀   Oil & Gas Integrated	7		77		57		42
6. Grupo Supervielle (M, AR)   Diversified Banks
6. Grupo Supervielle (M, AR)   Diversified Banks	31		76		17		28
7. YPF (XL, AR)   Oil & Gas Integrated
7. YPF (XL, AR)   Oil & Gas Integrated	42		73		48		57
8. Central Puerto (M, AR)   Power Producers & Traders
8. Central Puerto (M, AR)   Power Producers & Traders	92		69		73		97
9. Mirgor (M, AR)   Auto Parts & Equipment
9. Mirgor (M, AR)   Auto Parts & Equipment	69		67		100		100
10. San Miguel (S, AR)   Packaged Foods & Meats
10. San Miguel (S, AR)   Packaged Foods & Meats	52		59		31		34

September 25, 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. Ternium Argentina (L, AR)   Steel
1. Ternium Argentina (L, AR)   Steel	78		88		100		100
2. Transportadora de Gas del Norte (M, AR)   Oil & Gas Transportation
2. Transportadora de Gas del Norte (M, AR)   Oil & Gas Transportation	100		47		100		97
3. Mirgor (M, AR)   Auto Parts & Equipment
3. Mirgor (M, AR)   Auto Parts & Equipment	69		67		100		100
4. Transener (S, AR)   Electric Utilities
4. Transener (S, AR)   Electric Utilities	83		19		100		81
5. Distribuidora de Gas Cuyana (S, AR)   Gas Utilities
5. Distribuidora de Gas Cuyana (S, AR)   Gas Utilities	79		1		100		72
6. Tenaris (XL, LU)   Oil & Gas Equipment
6. Tenaris (XL, LU)   Oil & Gas Equipment	47		12		100		55
7. Transportadora de Gas Del Sur (L, AR)   Oil & Gas Transportation
7. Transportadora de Gas Del Sur (L, AR)   Oil & Gas Transportation	80		26		95		82
8. Bolsas y Mercados Argentinos (S, AR)   Financial Exchanges & Data
8. Bolsas y Mercados Argentinos (S, AR)   Financial Exchanges & Data	38		24		95		60
9. Holcim (Argentina) (M, AR)   Construction Materials
9. Holcim (Argentina) (M, AR)   Construction Materials	27		12		79		24
10. Central Puerto (M, AR)   Power Producers & Traders
10. Central Puerto (M, AR)   Power Producers & Traders	92		69		73		97

September 25, 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. Ternium Argentina (L, AR)   Steel
1. Ternium Argentina (L, AR)   Steel	78		88		100		100
2. Mirgor (M, AR)   Auto Parts & Equipment
2. Mirgor (M, AR)   Auto Parts & Equipment	69		67		100		100
3. Transportadora de Gas del Norte (M, AR)   Oil & Gas Transportation
3. Transportadora de Gas del Norte (M, AR)   Oil & Gas Transportation	100		47		100		97
4. Central Puerto (M, AR)   Power Producers & Traders
4. Central Puerto (M, AR)   Power Producers & Traders	92		69		73		97
5. Banco Macro (L, AR)   Diversified Banks
5. Banco Macro (L, AR)   Diversified Banks	91		89		71		96
6. Transportadora de Gas Del Sur (L, AR)   Oil & Gas Transportation
6. Transportadora de Gas Del Sur (L, AR)   Oil & Gas Transportation	80		26		95		82
7. Transener (S, AR)   Electric Utilities
7. Transener (S, AR)   Electric Utilities	83		19		100		81
8. Grupo Financiero Galicia (L, AR)   Diversified Banks
8. Grupo Financiero Galicia (L, AR)   Diversified Banks	32		89		64		81
9. Distribuidora de Gas Cuyana (S, AR)   Gas Utilities
9. Distribuidora de Gas Cuyana (S, AR)   Gas Utilities	79		1		100		72
10. Enel Generación Costanera (S, AR)   Power Producers & Traders
10. Enel Generación Costanera (S, AR)   Power Producers & Traders	78		34		69		71

September 25, 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 September 25, 2020.