Stephen F. Austin State University
								Inventory of Fixed Securities
								Endowment Funds
								August 31, 2003
								Beginning Period				Ending Period
		Maturity				Face		5/31/2003		5/31/2003		8/31/2003		8/31/2003		Market Value		Current		Accrued
Security		Date		Coupon		Amount		Book Value		Market Value		Book Value		Market Value		Change		Yield		Interest
U.S. Treasury Note		11/15/03		4.250%		97,000		98,260		98,364		97,581		97,636		(728)		4.22%		1,187
U.S. Treasury Note		11/15/03		4.250%		76,000		77,060		77,068		76,490		76,498		(570)		4.22%		930
U.S. Treasury Note		11/15/03		4.250%		3,000						3,021		3,019		3,019		4.22%		37
U.S. Treasury Note		11/15/03		4.250%		59,000		59,766		59,829						(59,829)
U.S. Treasury Note		09/30/04		1.875%		299,000		301,502		301,804		301,035		300,868		(936)		1.86%		2,313
U.S. Treasury Note		09/30/04		1.875%		6,000						6,061		6,037		6,037		1.86%		46
U.S. Treasury Note		02/15/10		6.500%		70,000		80,670		85,815						(85,815)
U.S. Treasury Note		02/15/10		6.500%		4,000		4,701		4,903						(4,903)
U.S. Treasury Note		02/15/10		6.500%		52,000						60,796		59,767		59,767		5.65%		129
Federal Nat'l Mtg Assoc		06/15/09		6.375%		197,000		224,477		235,229		224,477		219,408		(15,821)		5.72%		2,582
Federal Nat'l Mtg Assoc		06/15/09		6.375%		6,000		6,887		7,164		6,887		6,682		(482)		5.72%		79
Federal Nat'l Mtg Assoc		06/15/09		6.375%		2,000						2,395		2,227		2,227		5.72%		26
Federal Nat'l Mtg Assoc		06/15/09		6.375%		131,000						148,486		145,911		145,911		5.72%		1,717
FNMA P625941		01/01/17		6.000%		80,000		49,018		50,550		30,508		31,291		(19,259)		5.79%		141
FNMA P643837		01/01/17		6.000%		55,000		33,246		34,558		24,045		24,858		(9,700)		5.79%		112
FHLMC  E0 1186		01/01/17		5.500%		16,000						8,247		8,101		8,101		5.38%		34
FNMA P254403		01/01/17		6.000%		9,000		6,544		6,724		5,232		5,346		(1,378)		5.79%		24
FNMA P555013		01/01/17		5.500%		142,000		114,412		115,002		91,025		89,261		(25,741)		5.38%		373
FHLMC E9 2890		01/01/17		5.500%		163,000						130,436		128,247		128,247		5.38%		538
FNMA P555286		01/01/18		6.000%		15,000		12,867		12,825		9,928		9,836		(2,989)		5.79%		44
FNMA P685665		01/01/18		5.000%		228,000		225,828		231,244		197,235		195,505		(35,739)		4.97%		757
FNMA P681119		01/01/18		5.500%		5,000		5,031		5,051		3,968		3,920		(1,131)		5.38%		16
FNMA P688313		01/01/18		5.500%		6,000						5,221		5,125		5,125		5.38%		21
U.S. Treasury Strips		08/15/20		0.000%		214,000		71,504		96,884		71,504		83,065		(13,819)
U.S. Treasury Strips		08/15/20		0.000%		13,000		5,157		5,885		5,157		5,045		(840)
U.S. Treasury Strips		08/15/20		0.000%		3,000						1,369		1,164		1,164
U.S. Treasury Note		02/15/29		5.250%		191,000		242,077		280,000		186,104		187,838		(92,162)		5.33%		382
U.S. Treasury Note		02/15/29		5.250%		23,000		23,279		25,760		23,277		22,169		(3,591)		5.33%		46
U.S. Treasury Note		02/15/29		5.250%		29,000		30,843		32,480		30,825		28,519		(3,961)		5.33%		58
U.S. Treasury Note		02/15/29		5.250%		4,000						4,480		3,933		3,933		5.33%		8
FHLMC C55740		01/01/30		7.000%		201,398		75,852		77,472		55,113		56,530		(20,942)		6.63%		292
Federal Nat'l Mtg Assoc		11/15/30		6.625%		108,000		115,663		137,126		122,614		118,699		(18,427)		6.02%		2,067
Federal Nat'l Mtg Assoc		11/15/30		6.625%		6,000		6,950		7,618		6,950		6,594		(1,024)		6.02%		115
Federal Nat'l Mtg Assoc		11/15/30		6.625%		27,000						30,674		29,674		29,674		6.02%		517
FHLMC GO 1217		01/01/31		7.000%		214,470		42,444		42,238		30,661		30,650		(11,588)		6.64%		159
FHLMC GO 1228		01/01/31		7.000%		193,365		35,295		36,175		25,758		26,520		(9,655)		6.64%		137
FNMA P254262		01/01/32		6.000%		190,000		136,107		143,227		103,188		106,239		(36,988)		5.90%		488
FNMA P634481		01/01/32		6.500%		285,000		174,511		180,184		130,251		133,570		(46,614)		6.27%		653
FNMA P640058		01/01/32		6.500%		47,000		27,566		28,707		18,945		19,595		(9,112)		6.27%		96
FHLMC GO 1381		01/01/32		7.000%		9,000		3,866		3,926		2,891		2,949		(977)		6.64%		15
FHLMC C67305		01/01/32		7.000%		18,000		10,481		10,662		8,293		8,463		(2,199)		6.65%		44
FNMA P652398		01/01/32		6.500%		22,000		13,332		13,718		9,941		10,159		(3,559)		6.27%		50
FNMA P254346		01/01/32		6.500%		9,000		5,408		5,563		3,846		3,929		(1,634)		6.27%		19
FNMA P254345		01/01/32		6.000%		45,000		33,715		35,864		25,318		26,350		(9,514)		5.90%		121
FNMA P545819		01/01/32		6.500%		275,000		151,707		151,961		108,719		108,153		(43,808)		6.27%		528
FNMA P667599		01/01/32		6.500%		8,000						4,434		4,394		4,394		6.27%		21
FNMA P254676		01/01/33		6.000%		22,000		21,797		21,885		18,510		18,182		(3,703)		5.90%		83
FNMA P555591		01/01/33		5.500%		189,000						180,615		180,006		180,006		5.51%		771
						4,067,233		2,527,823		2,663,465		2,642,511		2,641,932		(21,533)				17,776
Weighted Average Years to Maturity						19.11
Weighted Average Yield						5.19%