Stephen F. Austin State University
								Inventory of Fixed Securities
								Endowment
								November 30, 2005
								Beginning Period				Ending Period
		Maturity				Face		9/1/2005		9/1/2005		11/30/2005		11/30/2005		Market Value		Current		Accrued
Security		Date		Coupon		Amount		Book Value		Market Value		Book Value		Market Value		Change		Yield		Interest
U.S. Treasury Note		11/30/05		1.875%		591,000		$585,927		$588,623						($588,623)
U.S. Treasury Note		11/30/05		1.875%		197,000		$195,253		$196,208						($196,208)
U.S. Treasury Note		11/30/05		1.875%		161,000		$160,086		$160,353						($160,353)
U.S. Treasury Note		08/15/07		2.750%		160,000		$159,486		$156,757		$159,486		$155,669		($1,088)		2.82%		$1,280
U.S. Treasury Note		11/15/14		4.250%		714,000		$730,733		$736,948		$719,484		$699,106		($37,842)		4.34%		$1,258
U.S. Treasury Note		05/15/16		7.250%		173,000		$213,699		$219,582		$212,650		$210,167		($9,415)		5.96%		$520
U.S. Treasury Note		11/15/14		4.250%		124,000						$123,395		$121,413		$121,413		4.34%		$218
U.S. Treasury Note		02/08/06		1.625%		599,999						$595,513		$595,634		$595,634		1.63%		$2,447
U.S. Treasury Note		08/15/07		2.750%		14,000						$13,598		$13,621		$13,621		2.82%		$112
U.S. Treasury Note		07/10/10		3.875%		309,000						$307,553		$301,865		$301,865		3.96%		$4,487
U.S. Treasury Note		05/15/16		7.250%		25,000						$30,054		$30,371		$30,371		5.96%		$75
Fed Nat'l Mtg Assoc. Note		02/01/11		6.250%		250,000		$268,813		$272,188		$267,918		$263,437		($8,751)		5.93%		$5,165
Household Finl Corp Ltd Notes		01/24/06		6.500%		69,000		$86,211		$85,779		$69,361		$69,185		($16,594)		6.48%		$1,570
IBM Corp Notes		10/01/06		4.875%		140,000		$161,702		$161,189		$141,147		$140,175		($21,014)		4.86%		$1,119
Province of Ontario Bond		12/15/06		2.650%		135,000		$134,624		$132,732		$134,618		$132,304		($428)		2.70%		$1,640
J.P. Morgan Chase Notes		01/17/11		floating		55,000						$55,135		$54,970		$54,970
General Electric Capital Notes		01/15/13		5.450%		137,000		$160,259		$161,337		$143,281		$139,487		($21,850)		5.35%		$2,800
Goldman Sachs Notes		10/01/14		5.000%		62,000		$62,021		$62,413		$62,021		$60,379		($2,034)		4.70%		$508
								$2,918,814		$2,934,109		$3,035,214		$2,987,783		$925,790				$23,199
Weighted Average Years to Maturity				4.98
Weighted Average Yield				3.95%