Stephen F. Austin State University
	Summary of Investments
	Endowment Fund
	At February 28, 2006
						Book Value	%	Market Value	%
Long-term Securities
Debt Securities
	U.S. Government Obligations
		Direct Treasuries				1,635,012.00	19.89%	1,611,725.00	17.25%
		Guaranteed
			Mortgage-Backed				0.00%		0.00%
			Other
	Total U.S. Government Obligations					1,635,012.00	19.89%	1,611,725.00	17.25%
	U.S. Government Agencies (Non-Gtd.)
		Mortgage-Backed				267,038.00		262,422.00
		Other
	Total U.S. Govt. Agencies (Non-Gtd.)					267,038.00	3.25%	262,422.00	2.81%
	Foreign Government Obligations
	Municipal and County Bonds
	Corporate Bonds					260,210.00		256,177.00
	Other
		Total Debt Securities				2,162,260.00	26.31%	2,130,324.00	22.81%
Equity Securities
	Common Stocks and Other Equities					4,747,815.00		5,901,536.00
	Index Funds
	Mutual Funds
	Other
	Total Equity Securities					4,747,815.00		5,901,536.00
	Total Long-term Securities					6,910,075.00	84.08%	8,031,860.00	85.99%
Short-term Securities
	U.S. Govt (Direct & Guaranteed)						0.00%		0.00%
	U.S. Govt Agencies (Non-Gtd)
	Corporate Bonds					275,419.00	3.35%	275,992.00	2.95%
	TexPool
	Certificates of Deposit
	Total Short-term Securities					275,419.00	3.35%	275,992.00	2.95%
Cash and Cash Equivalents
	Cash
	Money Markets					1,022,805.00	12.45%	1,022,805.00	10.95%
	Certificates of Deposit					10,075.49	0.12%	10,075.49	0.11%
	Total Cash and Cash Equivalents					1,032,880.49	12.57%	1,032,880.49	11.06%
	Total Investments					8,218,374.49	100.00%	9,340,732.49	100.00%