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Just click on a company logo to bring up a company-related photo in the frame, followed by a company description and investment rationale.
* The company profiles and investment rationales in the Investment Gallery do not constitute individual stock recommendations by American Trust Investment Advisors or US Bancorp. These profiles and associated text are here only to show a small sample of representative investments in the Fund, and the supporting rationale for their inclusion. Fund holdings are subject to change at any time and are not recommendations to buy or sell any security. American Trust Investment Advisors is under no obligation to update the investment rationale sections of this website, which are current as of June 30, 2008.
EDP
EDP-Energias de Portugal, S.A. (4.1% of Fund holdings as of 7/7/08) engages in the generation, transmission, and distribution of electricity, as well as in the provision of telecommunications and information-technology services primarily in Portugal and Spain. It generates electricity in both public and independent electricity systems. The company also distributes natural gas. Its telecommunications services are provided to both corporate and residential clients. EDP was incorporated in 1976 under its former name and became EDP-Energias de Portugal, S.A. in 2004. The company is based in Lisbon, Portugal. Source: Capital IQ
Portugal has one of the best wind, wave, and solar resource bases; it is believed that EDP is capitalizing on this already.
Valuing EDP's 75% stake in its recently sold renewable IPO suggests an attractive parent company valuation.