Oklahoma City MAPS Investment Trust receives quarterly report as portfolio nears $149.3 million; approves custody renewal

The Oklahoma City MAPS Investment Operating Trust on Nov. 17 received its general manager and investment reports showing the trust’s market value is just under $149.3 million and approved routine operational items including a one‑year custody agreement with BOK Custody Services.

City Treasurer Matt Boggs introduced the general manager report for the period ending Oct. 31, 2025, calling it a long‑horizon document that will be “extremely useful in about 10 years” as projects mature. “Right now, it looks like we’re regurgitating the investment report,” Boggs said, and noted an additional allocation tied to a beautification position had been added to the fund.

Doug Anderson with Mariners, who presented the quarterly investment report through Sept. 30, summarized market conditions and performance. Anderson said third‑quarter corporate earnings and a Federal Reserve rate reduction contributed to gains across equity markets; for the quarter, he reported the S&P up about 8% and cited strong small‑cap and international returns. Anderson noted the portfolio’s trailing‑year results and long‑term performance: “total returns since that time, is 27.69%,” and described the fund’s recent position as the result of deliberate derisking followed by a return to target allocations.

Anderson pointed to the concentration of gains in a handful of very large technology companies and discussed the portfolio’s exposures. He outlined current allocations, saying the largest single holding is the Dodge & Cox income fund at approximately $50 million (about 34%), with international equity around 8.7% and other fixed‑income exposures near 5.6%. He also reported an available cash balance of roughly $4 million and recommended keeping near‑term cash flows in cash to guard against volatility.

On real estate, Anderson cautioned that the market remains “a mess” in many areas and said he did not expect the trust to allocate to real estate in the next one to three years unless conditions change. A trustee noted that another board had recently liquidated much of its real estate exposure, prompting discussion of whether the trust should revisit its investment policy; Anderson said the investment committee should discuss options and that he would support policy flexibility while remaining cautious.

Trustees voted to receive the quarterly investment report ending Sept. 30 and the monthly report ending Oct. 31. They also approved renewal number 4 of the custody account agreement with BOK Custody Services for an estimated $55,000, retroactive to Nov. 15, 2025, through Nov. 14, 2026, and ratified three claims for the period ending Sept. 16, 2025, totaling $29,837 (auditing services, custody bank, and investment consultant). The meeting adjourned after brief trustee comments and holiday wishes.

What’s next: trustees scheduled meetings for 2026 on Feb. 16, May 18, Aug. 17 and Nov. 16.