22/06/2026 04:18 - Economia
Infografía financiera profesional mostrando distribución porcentual de cartera de inversiones en CEDEARs con seis sectores coloridos, gráficos circulares y barras 3D, sobre fondo corporativo azul con elementos tecnológicos modernos
In a context where interest rates in pesos still compete with the financial dollar but Wall Street offers growth stories difficult to replicate in the domestic market, Allaria Ledman & Cía Sociedad de Bolsa —one of the largest brokerage firms in the local market— updated its international selection with a concrete map of companies to watch. The report presents a theoretical portfolio of $1,000,000 Argentine pesos with a marked bias towards two sectors: technology and consumer discretionary, which together concentrate 60% of the allocation.
CEDEARs (Certificados de Depósito Argentinos, or Argentine Deposit Certificates) are financial instruments that allow Argentine investors to access shares of foreign companies listed on international markets, operating from the local Stock Exchange. These certificates represent a fraction of a foreign share deposited in a custodian entity, offering currency hedging and the possibility to invest in both pesos and dollars.
The main advantage is that they allow investors to dollarize part of their portfolio without leaving the local market, accessing world-class companies like Apple, Amazon, or in this case, those recommended by Allaria. For foreign readers, this is similar to ADRs (American Depositary Receipts) but designed for the Argentine market, allowing locals to gain exposure to international equities while navigating local currency controls and regulations.
Allaria's report does not present a closed portfolio with exact weights per share, but rather a sector allocation and a list of CEDEARs that the Research department considers attractive.
Includes three companies with very different profiles:
Three companies with diverse exposure:
Unlike the main blocks, these four sectors have defined individual allocation because there's only one CEDEAR per sector:
Nu Holdings - Brazilian digital bank that has become one of the most relevant growth cases in the region. Attractive for digital banking business expansion and user monetization.
Petrobras - Paper affected by oil prices, dividends, and Brazilian corporate policy. Serves as partial counterweight in growth portfolios.
Intuitive Surgical - Company linked to high-complexity robotic surgery. Its behavior is closer to a growth company than a purely stable stock.
T-Mobile - More defensive profile than big tech companies, with more recurring revenues and less dependence on disruption narratives.
Additionally, a report from El Cronista Finanzas identifies five companies with solid business models and long-term growth capacity, ideal to hold "for a lifetime" via CEDEARs:
Microsoft (MSFT) - Leader in cloud and AI, with growth projections of 30% to 35% according to JP Morgan.
Berkshire Hathaway (BRKB) - Diversification across multiple sectors and historical stability under Warren Buffett's leadership.
Alphabet (GOOGL) - Google's parent company, dominance in digital advertising and technology ecosystem.
Coca-Cola (KO) - Long-term investment due to global brand and resilience in mass consumption.
Visa (V) - Capitalizes on global digital payments growth as a solid option.
The portfolio suggested by Allaria combines strong growth companies (Nvidia, Tesla, MercadoLibre, Nu) with more mature business names (Oracle, Petrobras, Intuitive Surgical, T-Mobile). The concentration in technology and consumer discretionary is explained by being sectors that have been generating much of international interest, although they also suffer the most when international rates rise or Wall Street rotates towards more defensive assets. The report indicates attractive sectors and companies, but the final weighting per CEDEAR requires an investor decision according to their risk profile.
Sources: iProfesional | Rosario Finanzas/El Cronista
Alfredo S. Quiroga
