FIG. 1 is a perspective view of a portfolio, in a partially opened position, showing our new design;

FIG. 2 is a front elevational view in a closed condition;

FIG. 3 is a front elevational view with the flap in an open position;

FIG. 4 is a front elevational view in a second alternative open position;

FIG. 5 is a rear elevational view with respect to FIG. 4;

FIG. 6 is a left side elevational view with respect to FIG. 2;

FIG. 7 is a bottom plan view, with respect to FIG. 2; and

FIG. 8 is a front elevational view in a third alternative open position.