Stephen F. Austin State University
	Summary of Investments
	Endowment Fund
	At November 30, 2005
						Book Value	%	Market Value	%
Long-term Securities
Debt Securities
	U.S. Government Obligations
		Direct Treasuries				1,566,222.00	19.14%	1,540,165.00	16.44%
		Guaranteed
			Mortgage-Backed				0.00%		0.00%
			Other
	Total U.S. Government Obligations					1,566,222.00	19.14%	1,540,165.06	16.44%
	U.S. Government Agencies (Non-Gtd.)
		Mortgage-Backed				267,918.00		268,602.00
		Other
	Total U.S. Govt. Agencies (Non-Gtd.)					267,918.00	3.27%	268,602.00	2.87%
	Foreign Government Obligations
	Municipal and County Bonds
	Corporate Bonds					395,055.00		392,087.00
	Other
		Total Debt Securities				2,229,195.00	27.24%	2,200,854.06	23.50%
Equity Securities
	Common Stocks and Other Equities					4,760,773.00		5,969,185.00
	Index Funds
	Mutual Funds
	Other
	Total Equity Securities					4,760,773.00		5,969,185.00
	Total Long-term Securities					6,989,968.00	85.43%	8,170,039.06	87.23%
Short-term Securities
	U.S. Govt (Direct & Guaranteed)					595,513.00	7.28%	598,081.00	6.39%
	U.S. Govt Agencies (Non-Gtd)
	Corporate Bonds					210,508.00	2.57%	212,048.00	2.26%
	TexPool
	Certificates of Deposit
	Total Short-term Securities					806,021.00	9.85%	810,129.00	8.65%
Cash and Cash Equivalents
	Cash
	Money Markets					376,340.00	4.60%	376,340.00	4.02%
	Certificates of Deposit					10,075.49	0.12%	10,075.49	0.11%
	Total Cash and Cash Equivalents					386,415.49	4.72%	386,415.49	4.13%
	Total Investments					8,182,404.49	100.00%	9,366,583.55	100.00%