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link	country	Universe Stocks
Top Picks	AUSTRALIA	51
Top Picks	BRAZIL	76
Top Picks	BRITAIN	107
Top Picks	CANADA	67
Top Picks	CHILE	22
Top Picks	CHINA	114
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	564

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
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
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
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
CTIP3 BZ zranks	CETIP SA - Mercados Organizados	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	50.98	20.3	12.7	7.2	6.3	4.2	83.2	15.5	32.4	3.0	2.7	7.9	43.4	58.1	-10%	10%	10%	10%	10%	440%	20%	0.0
FIBR3 BZ zranks	Fibria Celulose SA	Materials	#N/A N/A	#N/A N/A	#N/A N/A	#N/A N/A	30.47	51.16	-23.88	12.3	5.6	2.3	2.7	1.9	45.8	7.7	21.3	1.8	1.4	2.4	56.9	50.7	-30%	70%	150%	-20%	60%	-30%	70%	0.0
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
CSAN3 BZ zranks	Cosan SA Industria e Comercio	Energy	25.34	6.13	-12.81	104.97	-29.13	9.65	97.42	11.4	11.5	1.3	2.6	1.5	29.3	7.9	23.7	1.9	1.0	2.1	47.7	22.6	280%	-60%	-10%	40%	-30%	180%	-60%	0.0
AEDU3 BZ zranks	Anhanguera Educacional Participacoes 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	51.6	23.6	3.1	2.8	0.0	42.3	3.4	5.5	1.8	1.6	3.6	25.6	16.5	10%	100%	0%	50%	10%	40%	120%	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
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
ESTC3 BZ zranks	Estacio Participacoes 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	12.2	0.0	0.0	0.0	57.3	13.4	22.7	1.2	1.1	11.9	24.0	35.4	-20%	-50%	0%	-30%	0%	30%	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
RENT3 BZ zranks	Localiza Rent a Car SA	Industrials	13.16	61.82	13.03	63.06	16.35	102.52	72.54	42.6	19.4	2.5	6.6	0.9	24.6	5.0	19.5	1.1	1.0	2.3	71.2	21.7	-30%	-20%	40%	-20%	-20%	6520%	0%	2.0
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
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
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
PETR3 BZ zranks	Petroleo Brasileiro SA	Energy	51.05	16.27	-32.89	23.56	29.49	-1.87	140.54	13.1	5.1	1.0	1.3	2.7	40.4	4.5	14.0	1.5	0.8	2.2	53.6	46.2	-30%	0%	-30%	-30%	-20%	10%	-70%	0.0
PETR4 BZ zranks	Petroleo Brasileiro SA	Energy	48.85	16.55	-31.01	32.60	25.30	6.43	170.08	13.1	5.1	1.0	1.3	2.7	40.4	4.5	14.0	1.5	0.8	2.2	53.6	46.2	-30%	0%	-30%	-30%	-20%	10%	-70%	0.0
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

Portfolio Longs Average Return 1m 16.8%, 6m 8.5%, YTD -14.4%, 2017 38.1%, 2016 1.5%, 2015 10.8%, 2014 72.7%

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
ITSA4 BZ zranks	Itausa - Investimentos Itau SA	Financials	31.54	8.40	-35.16	23.24	14.23	35.33	74.28	11.5	84.4	18.8	2.2	6.2	25.8	15.5	18.7	2.7	2.0	1.8	6.6	28.9	-0%	-50%	-20%	0%	-30%	-100%	0%	0.0
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
CIEL3 BZ zranks	Cielo SA	Information Technology	25.07	-18.78	-64.57	-4.04	-64.32	3.14	23.30	14.4	10.8	2.1	2.4	3.1	36.1	1.8	16.8	1.2	1.1	6.1	37.6	26.4	-20%	-80%	-80%	-50%	-30%	-70%	-50%	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
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
VIVT4 BZ zranks	Telefonica Brasil SA	Telecommunication Services	12.75	-10.52	-37.53	28.53	-10.92	15.52	56.97	19.6	6.0	1.8	1.4	3.3	49.9	4.7	7.0	1.1	0.7	50.8	7.9	41.0	-20%	-20%	20%	-30%	-30%	-30%	-30%	0.7
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
EMBR3 BZ zranks	Embraer SA	Industrials	65.10	0.00	-62.96	-12.23	-6.91	25.09	-35.17	0.0	54.6	2.0	1.0	0.0	13.7	-3.1	-9.1	2.3	1.2	-6.3	48.1	1.8	40%	0%	0%	0%	-10%	-30%	0%	0.0
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
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
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
HGTX3 BZ zranks	Cia Hering	Consumer Discretionary	17.78	15.68	-57.40	16.10	0.88	78.37	29.47	25.7	19.7	3.1	3.9	2.4	43.8	12.2	15.6	3.3	2.1	75.3	0.0	17.1	-50%	-20%	-20%	-60%	-10%	-10%	-70%	0.5
MDIA3 BZ zranks	M Dias Branco SA	Consumer Staples	9.30	-16.83	-31.10	-14.03	-29.20	35.15	113.26	23.2	17.7	2.4	2.1	0.7	35.4	7.0	9.6	1.9	1.2	15.5	18.3	12.7	-10%	-20%	-40%	-10%	-20%	-40%	0%	0.0
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
MULT3 BZ zranks	Multiplan Empreendimentos Imobiliarios SA	Real Estate	42.91	5.31	-40.35	33.46	-10.66	20.05	91.76	41.9	24.8	11.8	3.5	1.4	0.0	5.1	8.6	1.8	0.0	3.4	34.5	70.4	-20%	-30%	-0%	-30%	-20%	0%	-60%	1.5
LREN3 BZ zranks	Lojas Renner SA	Consumer Discretionary	25.56	-2.10	-35.08	42.38	3.39	67.90	68.41	39.4	19.6	3.6	9.5	1.3	61.1	10.8	25.4	1.4	1.1	16.0	32.7	24.8	-40%	-30%	20%	-60%	-10%	-40%	-20%	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
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
GGBR4 BZ zranks	Gerdau SA	Materials	11.78	44.06	-11.53	32.81	4.63	13.20	183.91	28.2	8.5	0.6	1.3	1.1	10.6	2.3	4.6	2.1	0.8	3.4	36.5	13.3	-20%	30%	-60%	-10%	-10%	-30%	0%	0.9
ENBR3 BZ zranks	EDP - Energias do Brasil SA	Utilities	19.69	5.32	-29.34	52.44	-6.88	3.62	50.16	10.0	6.9	0.7	1.4	1.8	19.4	5.3	15.1	1.5	1.1	3.4	43.5	19.1	-40%	-50%	-50%	-30%	-20%	-40%	0%	0.0

Portfolio Longs Average Return 1m 16.8%, 6m 8.5%, YTD -14.4%, 2017 38.1%, 2016 1.5%, 2015 10.8%, 2014 72.7%

Portfolio Shorts Average Return 1m 25.0%, 6m 15.0%, YTD -27.6%, 2017 28.8%, 2016 -18.2%, 2015 36.7%, 2014 71.4%

tick	totrank
MPLU3 BZ	121.17
JBSS3 BZ	23.66
TAEE11 BZ	14.48
CTIP3 BZ	11.80
FIBR3 BZ	9.67
CYRE3 BZ	9.23
CSAN3 BZ	7.87
AEDU3 BZ	5.76
ELET3 BZ	5.15
ELET6 BZ	5.15
TBLE3 BZ	1.24
ESTC3 BZ	1.00
PCAR4 BZ	0.13
RENT3 BZ	-0.03
BVMF3 BZ	-0.25
SBSP3 BZ	-2.55
CESP6 BZ	-2.76
PETR3 BZ	-3.04
PETR4 BZ	-3.04
BRFS3 BZ	-4.18
CMIG4 BZ	-4.76
SANB11 BZ	-5.35
BBDC3 BZ	-5.45
BBDC4 BZ	-5.62
GOAU4 BZ	-6.11
KLBN4 BZ	-6.53
ODPV3 BZ	-6.87
BRAP4 BZ	-7.01
ARTR3 BZ	-7.06
ALLL3 BZ	-7.16
VALE5 BZ	-7.21
BRPR3 BZ	-7.25
VALE3 BZ	-7.57
BRSR6 BZ	-7.62
BRML3 BZ	-7.65
HYPE3 BZ	-7.77
BBAS3 BZ	-7.82
CPLE6 BZ	-8.43
CSNA3 BZ	-8.85
ECOR3 BZ	-8.91
SUZB5 BZ	-8.93
KROT3 BZ	-9.36
CPFE3 BZ	-9.45
MPXE3 BZ	-9.52
WEGE3 BZ	-9.55
CCRO3 BZ	-10.41
SULA11 BZ	-11.10
ENEV3 BZ	-11.98
LAME3 BZ	-13.28
LAME4 BZ	-13.39
CSMG3 BZ	-13.60
MRVE3 BZ	-13.95
TOTS3 BZ	-14.06
ITUB4 BZ	-14.25
PSSA3 BZ	-14.56
CRUZ3 BZ	-16.21
ENBR3 BZ	-16.45
GGBR4 BZ	-17.75
BBSE3 BZ	-18.88
DTEX3 BZ	-18.98
LREN3 BZ	-19.10
MULT3 BZ	-20.17
USIM5 BZ	-20.45
MDIA3 BZ	-21.65
HGTX3 BZ	-22.79
POMO4 BZ	-25.60
BRKM5 BZ	-25.81
UGPA3 BZ	-25.87
EMBR3 BZ	-25.92
OIBR4 BZ	-27.04
VIVT4 BZ	-27.08
ABEV3 BZ	-27.29
QUAL3 BZ	-28.29
CIEL3 BZ	-38.58
RADL3 BZ	-39.78
ITSA4 BZ	-53.69