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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	115
Top Picks	COLOMBIA	16
Top Picks	DENMARK	12
Top Picks	FRANCE	57
Top Picks	GERMANY	37
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	24
Top Picks	SWEDEN	25
Top Picks	SWITZERLAND	36
Top Picks	TAIWAN	119
Top Picks	THAILAND	27
Top Picks	TURKEY	28
Top Picks	UNITED STATES	561

Top SPAIN 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
ZOT SM zranks	Zardoya Otis SA	Industrials	16.66	1.69	-4.13	16.39	-32.61	34.28	-22.03	23.2	15.7	3.8	8.0	4.6	0.0	19.6	33.7	1.2	0.8	497.7	0.5	25.8	10%	10%	-10%	10%	10%	210%	-10%	0.0
BME SM zranks	Bolsas y Mercados Espanoles SHMSF SA	Financials	#N/A N/A	#N/A N/A	#N/A N/A	46.95	-7.00	14.83	-6.39	23.2	15.4	6.6	7.4	3.4	0.0	0.9	31.4	1.0	1.0	16.0	97.2	58.4	10%	0%	-10%	10%	20%	-100%	0%	0.0
EDRVF US zranks	EDP Renovaveis SA	Utilities	8.56	50.86	82.42	#N/A N/A	8.04	26.17	-17.79	0.0	8.7	0.0	0.0	0.0	0.0	2.7	7.1	0.6	0.4	4.4	31.0	88.6	10%	10%	0%	10%	0%	20%	0%	0.0
REE SM zranks	Red Electrica Corp SA	Utilities	6.23	11.57	5.34	-5.11	4.46	24.69	-5.89	13.5	10.3	5.4	2.8	4.8	98.3	6.0	20.9	1.3	0.5	6.9	64.8	79.3	10%	0%	0%	10%	10%	60%	-60%	1.5
ACS SM zranks	ACS Actividades de Construccion y Servicios SA	Industrials	30.04	20.36	-10.34	8.81	2.76	28.48	13.30	11.7	4.7	0.3	2.5	5.5	0.0	2.6	21.9	1.0	0.9	3.3	61.2	7.1	0%	-30%	70%	0%	-10%	-40%	-80%	0.0
AMS SM zranks	Amadeus IT Group SA	Information Technology	49.07	27.79	-4.72	19.41	-1.90	61.84	5.09	28.2	15.3	5.3	8.3	1.5	0.0	10.8	32.0	0.5	0.4	41.3	55.0	40.4	-60%	0%	0%	-90%	10%	490%	0%	0.0
ABE SM zranks	Abertis Infraestructuras SA	Industrials	#N/A N/A	#N/A N/A	#N/A N/A	#N/A N/A	#N/A N/A	66.45	-1.03	0.0	0.0	0.0	0.0	0.0	0.0	1.0	7.0	1.7	1.0	3.1	74.3	70.1	-20%	0%	10%	-30%	0%	-40%	0%	0.0
TEF SM zranks	Telefonica SA	Telecommunication Services	33.70	-14.20	-32.57	-11.96	-9.28	9.71	-9.02	36.6	6.6	0.8	3.6	2.6	0.0	1.0	7.9	0.8	0.5	3.8	66.2	31.2	-0%	300%	-50%	-0%	80%	-10%	-50%	0.0
CAF SM zranks	Construcciones y Auxiliar de Ferrocarriles SA	Industrials	33.21	12.77	-3.76	13.19	2.52	3.40	48.04	56.9	9.5	0.6	1.9	1.9	0.0	0.6	3.3	1.2	0.9	2.3	59.1	7.9	10%	30%	10%	10%	10%	-20%	0%	0.0
ENG SM zranks	Enagas SA	Energy	8.91	1.57	-0.91	1.05	0.04	19.53	-5.21	12.9	12.6	5.2	1.9	5.7	0.0	4.6	14.5	2.8	2.1	4.2	64.3	71.3	10%	10%	-0%	30%	10%	970%	-60%	0.0
REP SM zranks	Repsol SA	Energy	49.46	1.62	-30.02	3.66	-3.64	32.28	35.54	0.0	0.0	0.5	0.9	5.3	0.0	-6.4	-13.7	1.4	0.8	6.0	30.8	-1.7	-30%	-80%	-10%	0%	-0%	-20%	-50%	0.0
BBVA SM zranks	Banco Bilbao Vizcaya Argentaria SA	Financials	73.52	25.34	-5.93	10.87	-35.23	32.00	-1.17	9.4	0.0	0.8	0.7	4.2	0.0	0.5	7.3	0.0	0.0	0.0	77.6	0.0	-40%	-50%	-10%	0%	-0%	-100%	0%	0.0
GRF SM zranks	Grifols SA	Health Care	1.18	-6.22	-17.00	36.27	-9.25	49.39	-12.55	34.5	20.9	3.5	4.5	0.5	45.9	4.5	13.8	2.8	1.1	3.4	57.6	28.1	10%	30%	-50%	0%	20%	40%	160%	1.9
BKIA SM zranks	Bankia SA	Financials	48.27	70.80	-2.46	-23.49	-36.96	20.04	-9.47	10.7	0.0	2.1	0.4	4.9	0.0	0.3	4.1	0.0	0.0	0.0	80.9	0.0	-10%	-80%	-0%	0%	10%	-100%	0%	0.0
SAB SM zranks	Banco de Sabadell SA	Financials	44.34	12.34	-59.09	4.55	-39.47	47.02	-16.69	7.6	0.0	0.9	0.5	1.6	0.0	0.3	6.2	0.0	0.0	0.0	84.7	0.0	-20%	0%	-40%	0%	10%	-100%	0%	0.0
IBE SM zranks	Iberdrola SA	Utilities	9.00	23.14	37.82	34.08	8.64	23.94	-3.21	16.8	10.5	1.3	1.5	3.5	44.6	2.9	9.0	0.8	0.6	4.4	49.0	28.6	10%	20%	10%	10%	10%	80%	0%	1.9
SAN SM zranks	Banco Santander SA	Financials	67.99	22.45	-16.57	-2.62	-27.87	32.90	10.89	9.4	0.0	0.9	0.6	5.0	0.0	0.4	6.6	0.0	0.0	0.0	81.5	0.0	-40%	-40%	-0%	0%	-10%	-100%	0%	0.0
CABK SM zranks	CaixaBank SA	Financials	47.73	19.00	-8.72	-10.24	-19.34	45.89	0.59	10.6	0.0	1.8	0.7	2.0	0.0	0.4	6.4	0.0	0.0	0.0	75.4	0.0	-20%	-50%	-60%	0%	10%	-100%	0%	0.0
ITX SM zranks	Industria de Diseno Textil SA	Consumer Discretionary	26.69	12.25	-3.34	42.47	-24.50	4.18	1.32	26.0	12.3	2.9	6.3	2.9	55.9	14.5	24.6	2.0	1.4	290.5	0.6	26.9	-20%	-60%	30%	-30%	10%	0%	-50%	17.3
GAS SM zranks	Gas Natural SDG 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	8.9	0.0	0.0	0.0	29.2	3.4	13.0	1.2	0.9	-3.9	51.3	19.6	-10%	-20%	0%	-10%	0%	-20%	0%	0.0

Portfolio Longs Average Return 1m 27.7%, 6m 14.7%, YTD -3.7%, 2017 9.2%, 2016 -11.0%, 2015 28.9%, 2014 0.2%

Top SPAIN 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
POP SM zranks	Banco Popular Espanol SA	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	-66.81	0.0	0.0	0.8	0.0	0.0	0.0	-10.4	-161.2	0.0	0.0	0.0	82.6	0.0	20%	0%	0%	0%	0%	-100%	0%	0.0
FER SM zranks	Ferrovial SA	Industrials	23.54	-1.50	-3.23	54.09	-7.20	31.80	-17.75	42.6	42.4	2.3	4.6	2.2	0.0	1.1	6.1	1.5	0.7	1.9	60.4	9.6	10%	0%	-0%	-30%	-20%	40%	-80%	0.0
DIA SM zranks	Distribuidora Internacional de Alimentacion SA	Consumer Staples	6.69	14.81	30.49	-25.95	-88.95	9.34	-13.75	0.0	0.0	0.0	0.0	0.0	0.0	-24.0	0.0	0.5	0.2	-2.8	109.8	-0.9	0%	0%	0%	0%	0%	-30%	0%	0.0
TLGO SM zranks	Talgo SA	Industrials	48.25	1.82	-22.66	11.41	19.88	8.94	-23.00	20.3	10.7	2.3	2.6	0.0	0.0	4.3	12.4	2.7	2.3	3.7	47.9	16.6	30%	-80%	0%	-40%	10%	350%	0%	0.0
GAS SM zranks	Gas Natural SDG 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	8.9	0.0	0.0	0.0	29.2	3.4	13.0	1.2	0.9	-3.9	51.3	19.6	-10%	-20%	0%	-10%	0%	-20%	0%	0.0
ITX SM zranks	Industria de Diseno Textil SA	Consumer Discretionary	26.69	12.25	-3.34	42.47	-24.50	4.18	1.32	26.0	12.3	2.9	6.3	2.9	55.9	14.5	24.6	2.0	1.4	290.5	0.6	26.9	-20%	-60%	30%	-30%	10%	0%	-50%	17.3
CABK SM zranks	CaixaBank SA	Financials	47.73	19.00	-8.72	-10.24	-19.34	45.89	0.59	10.6	0.0	1.8	0.7	2.0	0.0	0.4	6.4	0.0	0.0	0.0	75.4	0.0	-20%	-50%	-60%	0%	10%	-100%	0%	0.0
SAN SM zranks	Banco Santander SA	Financials	67.99	22.45	-16.57	-2.62	-27.87	32.90	10.89	9.4	0.0	0.9	0.6	5.0	0.0	0.4	6.6	0.0	0.0	0.0	81.5	0.0	-40%	-40%	-0%	0%	-10%	-100%	0%	0.0
IBE SM zranks	Iberdrola SA	Utilities	9.00	23.14	37.82	34.08	8.64	23.94	-3.21	16.8	10.5	1.3	1.5	3.5	44.6	2.9	9.0	0.8	0.6	4.4	49.0	28.6	10%	20%	10%	10%	10%	80%	0%	1.9
SAB SM zranks	Banco de Sabadell SA	Financials	44.34	12.34	-59.09	4.55	-39.47	47.02	-16.69	7.6	0.0	0.9	0.5	1.6	0.0	0.3	6.2	0.0	0.0	0.0	84.7	0.0	-20%	0%	-40%	0%	10%	-100%	0%	0.0
BKIA SM zranks	Bankia SA	Financials	48.27	70.80	-2.46	-23.49	-36.96	20.04	-9.47	10.7	0.0	2.1	0.4	4.9	0.0	0.3	4.1	0.0	0.0	0.0	80.9	0.0	-10%	-80%	-0%	0%	10%	-100%	0%	0.0
GRF SM zranks	Grifols SA	Health Care	1.18	-6.22	-17.00	36.27	-9.25	49.39	-12.55	34.5	20.9	3.5	4.5	0.5	45.9	4.5	13.8	2.8	1.1	3.4	57.6	28.1	10%	30%	-50%	0%	20%	40%	160%	1.9
BBVA SM zranks	Banco Bilbao Vizcaya Argentaria SA	Financials	73.52	25.34	-5.93	10.87	-35.23	32.00	-1.17	9.4	0.0	0.8	0.7	4.2	0.0	0.5	7.3	0.0	0.0	0.0	77.6	0.0	-40%	-50%	-10%	0%	-0%	-100%	0%	0.0
REP SM zranks	Repsol SA	Energy	49.46	1.62	-30.02	3.66	-3.64	32.28	35.54	0.0	0.0	0.5	0.9	5.3	0.0	-6.4	-13.7	1.4	0.8	6.0	30.8	-1.7	-30%	-80%	-10%	0%	-0%	-20%	-50%	0.0
ENG SM zranks	Enagas SA	Energy	8.91	1.57	-0.91	1.05	0.04	19.53	-5.21	12.9	12.6	5.2	1.9	5.7	0.0	4.6	14.5	2.8	2.1	4.2	64.3	71.3	10%	10%	-0%	30%	10%	970%	-60%	0.0
CAF SM zranks	Construcciones y Auxiliar de Ferrocarriles SA	Industrials	33.21	12.77	-3.76	13.19	2.52	3.40	48.04	56.9	9.5	0.6	1.9	1.9	0.0	0.6	3.3	1.2	0.9	2.3	59.1	7.9	10%	30%	10%	10%	10%	-20%	0%	0.0
TEF SM zranks	Telefonica SA	Telecommunication Services	33.70	-14.20	-32.57	-11.96	-9.28	9.71	-9.02	36.6	6.6	0.8	3.6	2.6	0.0	1.0	7.9	0.8	0.5	3.8	66.2	31.2	-0%	300%	-50%	-0%	80%	-10%	-50%	0.0
ABE SM zranks	Abertis Infraestructuras SA	Industrials	#N/A N/A	#N/A N/A	#N/A N/A	#N/A N/A	#N/A N/A	66.45	-1.03	0.0	0.0	0.0	0.0	0.0	0.0	1.0	7.0	1.7	1.0	3.1	74.3	70.1	-20%	0%	10%	-30%	0%	-40%	0%	0.0
AMS SM zranks	Amadeus IT Group SA	Information Technology	49.07	27.79	-4.72	19.41	-1.90	61.84	5.09	28.2	15.3	5.3	8.3	1.5	0.0	10.8	32.0	0.5	0.4	41.3	55.0	40.4	-60%	0%	0%	-90%	10%	490%	0%	0.0
ACS SM zranks	ACS Actividades de Construccion y Servicios SA	Industrials	30.04	20.36	-10.34	8.81	2.76	28.48	13.30	11.7	4.7	0.3	2.5	5.5	0.0	2.6	21.9	1.0	0.9	3.3	61.2	7.1	0%	-30%	70%	0%	-10%	-40%	-80%	0.0

Portfolio Longs Average Return 1m 27.7%, 6m 14.7%, YTD -3.7%, 2017 9.2%, 2016 -11.0%, 2015 28.9%, 2014 0.2%

Portfolio Shorts Average Return 1m 30.1%, 6m 12.2%, YTD -7.7%, 2017 8.3%, 2016 -13.5%, 2015 26.4%, 2014 -3.2%

tick	totrank
ZOT SM	8.20
BME SM	6.68
EDRVF US	6.04
REE SM	5.82
ACS SM	4.40
AMS SM	2.44
ABE SM	1.93
TEF SM	0.57
CAF SM	0.51
ENG SM	-0.32
REP SM	-0.68
BBVA SM	-1.78
GRF SM	-2.03
BKIA SM	-2.14
SAB SM	-2.51
IBE SM	-3.98
SAN SM	-4.16
CABK SM	-4.47
ITX SM	-7.83
GAS SM	-8.15
TLGO SM	-11.72
DIA SM	-12.13
FER SM	-13.43
POP SM	-21.44