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link	country	Universe Stocks
Top Picks	AUSTRALIA	51
Top Picks	BRAZIL	76
Top Picks	BRITAIN	108
Top Picks	CANADA	67
Top Picks	CHILE	22
Top Picks	CHINA	115
Top Picks	COLOMBIA	16
Top Picks	DENMARK	12
Top Picks	FRANCE	57
Top Picks	GERMANY	38
Top Picks	HONG KONG	54
Top Picks	INDIA	98
Top Picks	INDONESIA	30
Top Picks	ITALY	17
Top Picks	JAPAN	110
Top Picks	MALAYSIA	42
Top Picks	MEXICO	29
Top Picks	NETHERLANDS	20
Top Picks	PHILIPPINES	22
Top Picks	RUSSIA	135
Top Picks	SOUTH AFRICA	51
Top Picks	SOUTH KOREA	115
Top Picks	SPAIN	25
Top Picks	SWEDEN	25
Top Picks	SWITZERLAND	36
Top Picks	TAIWAN	119
Top Picks	THAILAND	27
Top Picks	TURKEY	28
Top Picks	UNITED STATES	563

Top BRAZIL Long Picks

Ticker	Company	Sector	1m	6m	YTD	1yr	2yr	3yr	4yr	PE RATIO 2019	EV/EBITDA 2019	P/S 2019	P/B 2019	DIVIDEND YIELD 2019	GROSS MARGIN 2019	ROA 2019	ROE 2019	CUR RATIO 2018	QUICK RATIO 2018	INTEREST COVERAGE RATIO 2018	TOT DEBT TO TOT CAP 2018	EBITDA Margin 2019	revenue Growth 2020	Net Income Growth 2020	DPS Growth 2019	EBITDA Growth 2020	BPS Growth 2020	Capex Growth 2020	FCF Growth 2020	PEG Ratio 2019
BRKM5 BZ zranks	Braskem SA	Materials	8.90	-21.73	-42.27	-37.53	-1.57	26.55	67.55	0.0	16.2	0.6	5.1	8.0	12.7	-4.4	-47.9	0.9	0.5	4.0	85.8	6.8	-20%	0%	20%	90%	-100%	-10%	0%	0.0
MPXE3 BZ zranks	Eneva SA	Utilities	#N/A N/A	#N/A N/A	#N/A N/A	#N/A N/A	#N/A N/A	#N/A N/A	#N/A N/A	0.0	12.1	0.0	0.0	0.0	39.5	4.6	9.1	2.2	1.8	2.3	45.1	46.5	-30%	-30%	0%	-20%	0%	140%	0%	0.0
ENEV3 BZ zranks	Eneva SA	Utilities	5.21	36.28	-1.62	161.89	-1.18	14.82	3.44	22.9	12.1	1.6	2.0	0.0	39.5	4.6	9.1	2.2	1.8	2.3	45.1	46.5	-30%	-30%	0%	-20%	-20%	140%	0%	0.0
MPLU3 BZ zranks	Multiplus SA	Consumer Discretionary	#N/A N/A	#N/A N/A	#N/A N/A	#N/A N/A	-34.10	11.55	20.68	11.4	6.7	7.4	16.3	3.2	95.3	21.3	145.5	1.1	1.1	17,227.7	0.0	70.6	270%	-0%	-0%	0%	-20%	17440%	0%	0.0
SBSP3 BZ zranks	Cia de Saneamento Basico do Estado de Sao Paulo	Utilities	19.20	-13.38	-36.70	90.00	-19.37	21.59	86.86	12.3	7.0	1.3	1.9	2.3	43.6	7.5	16.4	1.0	0.9	10.6	40.2	41.6	-40%	-80%	10%	-40%	-20%	3430%	0%	1.9
ECOR3 BZ zranks	EcoRodovias Infraestrutura e Logistica SA	Industrials	39.86	-7.18	-35.61	67.60	-29.79	52.91	103.18	0.0	11.5	1.7	19.9	0.0	38.1	-1.7	-33.9	1.5	1.4	2.5	92.1	34.5	-30%	0%	0%	10%	40%	-10%	0%	0.0
DTEX3 BZ zranks	Duratex SA	Materials	-0.96	32.93	-14.79	39.69	17.57	34.48	42.50	28.4	10.2	1.7	2.3	1.2	25.8	4.0	8.5	1.8	1.2	2.6	38.2	27.1	-20%	20%	-60%	-40%	-30%	50%	-80%	0.0
TBLE3 BZ zranks	Engie Brasil Energia SA	Utilities	#N/A N/A	#N/A N/A	#N/A N/A	#N/A N/A	#N/A N/A	#N/A N/A	#N/A N/A	0.0	10.3	0.0	0.0	0.0	42.3	8.6	34.7	1.1	0.9	8.9	60.6	51.8	-20%	-10%	0%	-20%	0%	20%	0%	0.0
TAEE11 BZ zranks	Transmissora Alianca de Energia Eletrica SA	Utilities	31.28	19.89	-7.85	36.40	7.88	9.59	71.87	10.7	12.3	5.0	2.2	5.5	68.0	10.1	21.1	3.0	0.3	3.7	41.9	61.9	-40%	-40%	-20%	-20%	-30%	5720%	0%	0.4
BRAP4 BZ zranks	Bradespar SA	Materials	40.64	63.77	24.70	23.79	-2.40	101.17	264.96	0.0	0.0	0.0	1.3	0.0	0.0	-3.9	-4.1	1.2	1.0	-2.2	2.1	0.0	0%	0%	0%	0%	-10%	-100%	0%	0.0
CESP6 BZ zranks	Cia Energetica de Sao Paulo	Utilities	14.88	-1.86	-25.13	46.16	41.31	-1.20	26.83	9.2	13.6	4.2	1.5	0.0	30.5	10.0	16.3	1.0	0.7	11.7	3.0	54.9	-10%	-80%	0%	0%	-20%	70%	80%	0.0
POMO4 BZ zranks	Marcopolo SA	Industrials	31.78	-2.99	-46.95	8.19	-9.85	43.81	89.06	20.8	15.4	0.7	1.8	0.0	15.1	3.9	9.1	1.7	1.1	2.4	47.5	7.2	-40%	-80%	0%	-40%	-20%	-60%	0%	0.0
VALE5 BZ zranks	Vale SA	Materials	#N/A N/A	#N/A N/A	#N/A N/A	#N/A N/A	#N/A N/A	#N/A N/A	178.85	0.0	15.2	2.0	1.7	2.7	43.6	-1.9	-4.0	1.7	0.9	7.6	25.7	13.2	0%	190%	-50%	310%	-0%	20%	-0%	0.0
VALE3 BZ zranks	Vale SA	Materials	41.28	45.62	20.60	3.46	12.46	60.88	141.19	0.0	15.2	2.0	1.7	2.7	43.6	-1.9	-4.0	1.7	0.9	7.6	25.7	13.2	0%	190%	-50%	310%	-0%	20%	-0%	1.6
BBSE3 BZ zranks	BB Seguridade Participacoes SA	Financials	24.18	0.69	-32.68	38.65	-7.36	5.02	50.73	11.3	10.2	16.2	14.3	5.0	0.0	46.6	110.3	0.0	0.0	0.0	0.0	95.5	-40%	-30%	20%	-50%	-10%	-100%	0%	0.0
PCAR4 BZ zranks	Cia Brasileira de Distribuicao	Consumer Staples	#N/A N/A	#N/A N/A	#N/A N/A	5.40	-10.86	42.32	59.21	53.7	11.8	0.0	2.2	0.7	21.5	1.3	7.5	1.1	0.1	4.1	45.9	6.2	10%	-10%	150%	20%	-10%	-50%	0%	0.0
ELET3 BZ zranks	Centrais Eletricas Brasileiras SA	Utilities	12.11	12.72	-28.63	54.48	6.96	-16.65	381.91	6.9	9.5	1.3	0.7	5.0	75.6	6.0	16.9	1.3	0.4	5.3	49.9	32.9	-10%	-50%	80%	20%	-30%	20%	0%	0.0
ELET6 BZ zranks	Centrais Eletricas Brasileiras SA	Utilities	14.65	9.43	-27.58	36.49	5.94	-6.57	201.78	6.9	9.5	1.3	0.7	5.0	75.6	6.0	16.9	1.3	0.4	5.3	49.9	32.9	-10%	-50%	80%	20%	-30%	20%	0%	0.0
BVMF3 BZ zranks	B3 SA - Brasil Bolsa Balcao	Financials	#N/A N/A	#N/A N/A	#N/A N/A	#N/A N/A	#N/A N/A	#N/A N/A	#N/A N/A	0.0	19.0	0.0	0.0	0.0	0.0	7.0	10.8	1.3	1.2	6.4	15.3	72.1	0%	-30%	0%	10%	0%	100%	0%	0.0
CRUZ3 BZ zranks	Souza Cruz SA	Consumer Staples	#N/A N/A	#N/A N/A	#N/A N/A	#N/A N/A	#N/A N/A	#N/A N/A	#N/A N/A	17.2	10.8	5.9	11.7	6.7	63.7	26.3	69.2	1.5	0.6	25.7	22.8	42.1	-30%	-40%	10%	-40%	0%	-100%	0%	0.0

Portfolio Longs Average Return 1m 14.2%, 6m 8.7%, YTD -12.7%, 2017 28.7%, 2016 -1.2%, 2015 20.0%, 2014 89.5%

Top BRAZIL Short Picks

Ticker	Company	Sector	1m	6m	YTD	1yr	2yr	3yr	4yr	PE RATIO 2019	EV/EBITDA 2019	P/S 2019	P/B 2019	DIVIDEND YIELD 2019	GROSS MARGIN 2019	ROA 2019	ROE 2019	CUR RATIO 2018	QUICK RATIO 2018	INTEREST COVERAGE RATIO 2018	TOT DEBT TO TOT CAP 2018	EBITDA Margin 2019	revenue Growth 2020	Net Income Growth 2020	DPS Growth 2019	EBITDA Growth 2020	BPS Growth 2020	Capex Growth 2020	FCF Growth 2020	PEG Ratio 2019
CYRE3 BZ zranks	Cyrela Brazil Realty SA Empreendimentos e Participacoes	Consumer Discretionary	37.25	44.11	-18.87	98.54	8.09	27.42	71.17	27.5	22.6	1.3	2.4	2.5	30.9	4.2	8.4	3.5	1.6	-0.3	30.0	14.3	-30%	60%	20%	-10%	60%	-70%	1450%	0.3
CSNA3 BZ zranks	Cia Siderurgica Nacional SA	Materials	19.33	111.20	28.74	64.49	-9.94	-24.08	230.09	10.9	9.2	0.5	1.9	2.2	32.1	3.6	19.0	1.1	0.5	47.7	74.2	19.4	-20%	-50%	0%	40%	-40%	-60%	-20%	0.0
LAME4 BZ zranks	Lojas Americanas SA	Consumer Discretionary	4.44	-23.01	-28.63	28.62	-0.90	-1.26	28.74	59.0	14.6	1.8	8.0	0.7	36.4	2.3	14.0	2.1	1.4	1.1	71.4	18.4	-20%	-40%	120%	-30%	60%	-20%	-100%	2.1
LAME3 BZ zranks	Lojas Americanas SA	Consumer Discretionary	-2.15	-23.50	-23.74	28.62	-1.70	3.71	47.37	59.0	14.6	1.8	8.0	0.7	36.4	2.3	14.0	2.1	1.4	1.1	71.4	18.4	-20%	-40%	120%	-30%	60%	-20%	-100%	1.7
OIBR4 BZ zranks	Oi SA	Telecommunication Services	51.75	132.51	92.52	-5.85	-59.44	51.61	40.41	0.0	5.4	0.1	0.3	0.0	23.9	-13.1	-44.7	2.0	1.0	-6.4	41.8	19.4	-30%	0%	0%	20%	-40%	-30%	0%	0.0
KROT3 BZ zranks	Kroton Educacional SA	Consumer Discretionary	#N/A N/A	#N/A N/A	#N/A N/A	#N/A N/A	#N/A N/A	#N/A N/A	#N/A N/A	0.0	13.8	0.0	0.0	0.0	60.0	0.7	1.5	2.2	1.8	5.7	30.5	31.0	-40%	0%	0%	-60%	0%	-20%	0%	0.0
ARTR3 BZ zranks	Arteris SA	Industrials	#N/A N/A	#N/A N/A	#N/A N/A	#N/A N/A	#N/A N/A	#N/A N/A	#N/A N/A	0.0	0.0	0.0	0.0	0.0	20.7	-0.2	-0.6	0.6	0.5	0.5	52.7	38.8	0%	0%	0%	0%	0%	-100%	0%	0.0
JBSS3 BZ zranks	JBS SA	Consumer Staples	31.56	7.35	-27.96	114.72	1.41	-15.16	17.50	11.3	6.0	0.2	2.3	2.1	15.6	5.1	22.0	1.7	0.9	1.8	66.8	9.7	-0%	-70%	20100%	0%	-0%	-0%	50%	3.8
TOTS3 BZ zranks	TOTVS SA	Information Technology	-2.45	18.23	-7.59	131.54	-21.83	23.62	-2.53	46.1	23.7	2.1	5.0	0.9	67.4	7.1	11.2	1.4	1.2	4.3	27.1	20.7	-20%	10%	80%	-10%	-10%	300%	-40%	1.9
CCRO3 BZ zranks	CCR SA	Industrials	38.36	-4.29	-39.08	71.93	-37.49	2.99	62.31	26.7	9.8	2.3	4.7	4.0	42.4	4.5	17.6	0.9	0.8	1.7	66.9	50.9	-30%	-60%	20%	-30%	-20%	610%	-80%	6.4
RADL3 BZ zranks	Raia Drogasil SA	Consumer Staples	9.37	6.16	-14.52	89.90	-46.35	48.76	111.99	47.6	18.9	1.3	9.1	1.0	29.6	7.9	20.5	1.6	0.4	32.8	19.3	12.3	-10%	-30%	10%	-50%	-10%	100%	-70%	4.1
BRFS3 BZ zranks	BRF SA	Consumer Staples	37.41	-8.42	-52.27	54.81	-48.85	-25.43	8.97	23.5	8.6	0.6	3.6	0.0	24.2	0.7	4.0	1.3	0.6	-0.1	74.8	15.7	-10%	90%	0%	-30%	-30%	300%	-0%	0.0
ABEV3 BZ zranks	Ambev SA	Consumer Staples	26.34	1.16	-38.47	20.12	-36.27	31.14	15.93	24.9	13.8	4.8	4.8	2.6	58.8	11.9	20.1	1.0	0.6	10.0	6.7	39.5	-20%	-50%	-10%	-30%	-10%	-20%	-30%	3.9
USIM5 BZ zranks	Usinas Siderurgicas de Minas Gerais SA	Materials	29.20	83.71	8.66	1.21	-13.13	118.19	227.39	56.9	9.6	1.0	0.9	0.0	12.5	0.8	1.5	2.5	1.1	1.6	27.2	11.8	-30%	0%	0%	-0%	-20%	-10%	0%	0.0
QUAL3 BZ zranks	Qualicorp SA	Health Care	21.79	27.63	-25.33	228.94	-63.23	66.31	84.32	26.5	11.6	1.9	7.3	0.9	81.1	11.4	20.8	0.9	0.7	7.2	20.7	49.2	-20%	-10%	-50%	-20%	-10%	0%	-50%	1.2
BRML3 BZ zranks	BR Malls Participacoes SA	Real Estate	42.17	-5.00	-53.65	42.47	-11.69	21.00	70.31	11.8	10.0	9.2	1.4	1.9	0.0	6.8	11.6	1.4	0.0	4.9	20.3	140.8	-50%	0%	40%	-80%	-30%	0%	-70%	0.0
BRPR3 BZ zranks	BR Properties SA	Real Estate	31.38	8.19	-41.57	70.31	-32.71	39.27	8.40	19.2	9.7	7.9	1.0	0.0	0.0	3.0	4.8	1.5	0.0	1.5	37.7	209.5	-30%	0%	0%	-80%	-30%	0%	-90%	0.2
UGPA3 BZ zranks	Ultrapar Participacoes SA	Energy	36.44	9.99	-34.00	-5.19	-37.86	10.50	41.03	74.1	15.5	0.3	2.9	0.9	6.8	1.2	4.0	2.6	1.8	2.2	60.8	2.7	-30%	60%	-70%	10%	-0%	-10%	-30%	0.0
KLBN4 BZ zranks	Klabin SA	Materials	9.04	21.37	5.12	27.58	-17.88	12.42	-5.74	33.2	10.4	2.3	3.7	4.0	33.3	2.1	11.0	2.9	2.5	2.5	74.9	35.5	-10%	0%	60%	-0%	-60%	90%	0%	0.0
ALLL3 BZ zranks	Rumo SA	Industrials	#N/A N/A	#N/A N/A	#N/A N/A	#N/A N/A	#N/A N/A	#N/A N/A	#N/A N/A	52.3	14.1	4.0	4.9	0.0	35.0	2.6	9.5	1.7	1.4	1.7	57.3	53.7	0%	0%	0%	0%	0%	-100%	0%	0.0

Portfolio Longs Average Return 1m 14.2%, 6m 8.7%, YTD -12.7%, 2017 28.7%, 2016 -1.2%, 2015 20.0%, 2014 89.5%

Portfolio Shorts Average Return 1m 21.1%, 6m 20.4%, YTD -13.5%, 2017 53.1%, 2016 -21.5%, 2015 19.6%, 2014 52.9%

tick	totrank
BRKM5 BZ	44.59
MPXE3 BZ	37.72
ENEV3 BZ	32.06
MPLU3 BZ	27.52
SBSP3 BZ	26.82
ECOR3 BZ	24.85
DTEX3 BZ	21.83
TBLE3 BZ	17.81
TAEE11 BZ	15.12
BRAP4 BZ	14.27
CESP6 BZ	14.24
POMO4 BZ	13.65
VALE5 BZ	13.59
VALE3 BZ	13.23
BBSE3 BZ	11.70
PCAR4 BZ	11.06
ELET3 BZ	8.85
ELET6 BZ	8.85
BVMF3 BZ	6.28
CRUZ3 BZ	6.14
AEDU3 BZ	5.90
FIBR3 BZ	4.45
ODPV3 BZ	4.19
SUZB5 BZ	3.89
CSAN3 BZ	2.75
PSSA3 BZ	0.70
CIEL3 BZ	-2.72
GGBR4 BZ	-2.79
MULT3 BZ	-2.79
GOAU4 BZ	-2.92
ESTC3 BZ	-3.25
PETR3 BZ	-3.59
PETR4 BZ	-3.59
ENBR3 BZ	-3.62
RENT3 BZ	-3.75
HGTX3 BZ	-4.39
BRSR6 BZ	-4.60
CSMG3 BZ	-5.13
VIVT4 BZ	-5.38
BBAS3 BZ	-5.66
CPLE6 BZ	-5.73
ITUB4 BZ	-6.10
HYPE3 BZ	-6.27
SULA11 BZ	-6.62
MRVE3 BZ	-7.26
WEGE3 BZ	-7.86
CMIG4 BZ	-8.81
CPFE3 BZ	-8.83
BBDC3 BZ	-9.49
SANB11 BZ	-9.59
BBDC4 BZ	-9.65
MDIA3 BZ	-10.10
ITSA4 BZ	-11.51
CTIP3 BZ	-11.77
LREN3 BZ	-11.79
EMBR3 BZ	-11.86
ALLL3 BZ	-11.94
KLBN4 BZ	-13.08
UGPA3 BZ	-13.14
BRPR3 BZ	-13.18
BRML3 BZ	-13.46
QUAL3 BZ	-14.85
USIM5 BZ	-16.36
ABEV3 BZ	-17.56
BRFS3 BZ	-19.10
RADL3 BZ	-24.73
CCRO3 BZ	-25.15
TOTS3 BZ	-26.02
JBSS3 BZ	-26.91
ARTR3 BZ	-28.55
KROT3 BZ	-28.77
OIBR4 BZ	-40.08
LAME3 BZ	-40.14
LAME4 BZ	-40.26
CSNA3 BZ	-75.47
CYRE3 BZ	-255.74