Principal Investment Strategies

M1 invests in a portfolio comprised of hard assets (multi-family housing) and equity securities of companies in the real estate industry, including real estate investment trusts (REITs) and mutual funds. Our plan is to hold at least 60% of our assets in hard assets and 40% in equity securities (REITS and mutual funds).

Thursday, April 14, 2011

1Q 2011 Securities Portfolio Report

As of March 31, 2011, M1’s securities portfolio was valued at $280,915, approximately 8.2% of total assets. The portfolio comprises of real estate investment trusts and mutual funds, allocating 8.4% in residential REITs, 12.1% in office and industrial REITs, 11.6% in specialty REITs, 16.9% in retail REITs, 3.5% in student housing REITs, and 47.5% in CGM Realty fund. Our three largest holdings were in the following mutual fund/REITs: CGM Realty fund, Realty Income (retail), and Mack-Cali Realty (office/industrial). During the 1Q, we added to our positions in Mack-Cali Realty, Annaly Capital, Washington Real Estate Trust, and CGM Realty fund. Our securities portfolio performance during the quarter was 3.11%; since inception our portfolio has returned 20.99%.
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