Stephen F. Austin State University
Inventory of Fixed Securities
Operating Fund
May 31, 2003
Beginning Period Ending Period
Maturity Face 3/1/2003 3/1/2003 5/31/2003 5/31/2003 Market Value Current Accrued
Security Date Coupon Amount Book Value Market Value Book Value Market Value Change Yield Interest
U.S. Treasury Note 8/15/2003 5.75% 648,000 643,537 661,368   (661,368)   5.63%  
U.S. Treasury Note 1/15/2004 3.000% 220,000 649,761 660,562 220,048 222,750 (437,812) 2.96% 2,170
U.S. Treasury Note 2/15/2004 5.875% 1,220,000 1,258,569 1,274,143 1,248,493 1,260,418 (13,725) 5.68% 20,591
Fed. Natl Mortgage 3/15/2004 4.750% 1,000,000 1,028,242 1,035,630 1,028,242 1,027,810 (7,820) 4.62% 9,896
Fed. Natl Mortgage 5/14/2004 5.625% 1,200,000 1,252,587 1,260,372 1,252,587 1,250,256 (10,116) 5.39% 2,813
U.S. Treasury Note 5/31/2004 3.250% 650,000 654,622 665,847 653,700 663,611 (2,236) 3.18% 10,504
U.S. Treasury Note 6/30/2004 2.875% 980,000 989,384 1,000,217 987,621 998,071 (2,146) 2.82% 11,675
U.S. Treasury Note 8/15/2004 6.000% 300,000 309,289 320,250 307,688 317,343 (2,907) 5.67% 5,171
Fed. Natl Mortgage 3/15/2005 3.875% 3,115,000 3,230,112 3,256,140 3,230,115 3,256,142 2 3.70% 25,147
Fed. Natl Mortgage 3/15/2005 3.875% 1,103,000 1,153,697 1,152,976 1,152,976 3.70% 8,904
U.S. Treasury Note 5/15/2007 4.375% 300,000 314,659 323,345 313,766 327,750 4,405 4.00% 535
10,736,000 10,330,762 10,457,874 10,395,957 10,477,127 19,253 97,406
Weighted Average Years to Maturity 1.3
Weighted Average Yield 4.25%
WATM WAY
37,848 9.00% 37,772 0 0 0 0
38,001 9.03% 37,772 0 1 0 0
38,032 9.04% 37,772 0 1 0 0
38,061 9.05% 37,772 0 1 0 0
38,121 9.06% 37,772 0 1 0 0
38,138 9.07% 37,772 0 1 0 0
38,168 9.07% 37,772 0 1 0 0
38,214 9.08% 37,772 0 1 0 0
38,426 9.13% 37,772 0 2 1 0
38,426 9.13% 37,772 0 2 0 0
39,217 9.32% 37,772 0 4 0 0
420,652 100.00% 415,492 1 14 1 0