(A Top Pick Sept 21/16. Up 28%.) Just did an equity issue because of a huge backlog of projects, about $2.5 billion. If he had to pick one stock to own over the next number of years, it would be this. They increased their dividend over 10% for the last 8 years, and expects they will continue to do that. The #1 infrastructure stock globally. Dividend yield of 4.1%.

(A Top Pick Sept 21/16. Down 9%.) Out of favour and is not quite sure why. During this time, they did the Spectra merger. Looking at all the major energy companies globally, including infrastructure, this is now the 8th largest. It is the largest energy infrastructure in the US. Now is a very good time to be picking it up. Dividend yield of 5%, and they have a growth target of 10%-12% a year for the next 8 years. The bulk of their cash flow is covered by long-term contracts.

(A Top Pick Sept 21/16. Up 67%.) Had a tremendous return, and he would continue to own it. The outlook for methanol is excellent, particularly for this company which is on a large expansion program for the next number of years. Their CapX is behind them and they can increase capacity by bringing back one of their Chilean plants on stream, at a very reasonable cost. Generating a tremendous free cash flow and are buying back a lot of stock.

The world’s largest producer of methanol, but it tends to track energy prices broadly. Feels there is excellent demand growth over the next number of years, which this company will participate in. They’ve done all of their greenfield expansion over the last number of years, so will be generating a lot of free cash flow in an environment where he expects methanol prices to be between $350 and $400 over the next 5 years. Dividend yield of 2.3%. (Analysts’ price target is $57.)

Has been a disappointing performer and selling at a discount. There was a lot of worry amongst investors and some analysts about the balance sheet because of their building of the new mine Serra Morro, which is now 90% complete, and will increase their cash flow 20%, if not 30% when it is in full production. People are worried it might breach their debt covenants, resulting in an equity issue, but he heard they had hedged 60% of next year’s gold production, and 70% of copper production, at prices above what they had budgeted for. In addition, Serra Morro will see them increase their silver production by about 40%. Dividend yield of 0.8%. (Analysts’ price target is $3.50.)