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NMF Track Fund
INCEPTION (10/30/2002)	AVG. ANNUAL RETURN	S&P RETURN
14 YRS	18.11%	9.44%
Show Fund Strategy
While always given wide latitude for adherence to any strategy description, generally the npile:NMF model fund takes a long-term approach to investing in U.S.-based companies perceived to have above- average long-term growth potential. Positions are usually scaled into (and out of) over a period of several months, or even years. The npile:NMF model fund also has a bias towards owning stocks in the biotech and high-tech sectors, though other industries and sectors are often represented in the portfolio as well. It is important to note that the strategy description remains very general, and Nate Pile has wide latitude for varying from this strategy over significant periods of time and as he sees fit.

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