Stephen F. Austin State University
						Inventory of Fixed Securities
										Endowment
							May 31, 2006
									Beginning Period				Ending Period
			Maturity				Face		3/1/2006		3/1/2006		5/31/2006		5/31/2006		Market Value		Current		Accrued
	Security		Date		Coupon		Amount		Book Value		Market Value		Book Value		Market Value		Change		Yield		Interest
	U.S. Treasury Note		08/15/07		2.750%		174,000		$173,084		$169,215						($169,215)
	U.S. Treasury Note		11/15/08		4.375%		70,000		$70,131		$69,483						($69,483)
	U.S. Treasury Note		11/15/14		4.250%		838,000		$842,727		$816,463						($816,463)
	U.S. Treasury Note		05/15/16		7.250%		198,000		$241,537		$239,641						($239,641)
	IBM Corp Notes		10/01/06		4.875%		140,000		$140,807		$139,895						($139,895)
	General Electric Capital Notes		01/15/13		5.450%		137,000		$143,059		$138,888						($138,888)
	U.S. Treasury Note		07/10/10		3.875%		309,000		$307,530		$299,912		$307,513		$296,062		($3,850)		4.04%		$4,498
	Fed natl Ntg Assoc		02/01/11		6.250%		150,000		$267,038		$261,250		$159,668		$154,220		($107,030)		6.07%		$3,125
	Province of Ontario		12/15/06		2.650%		63,000		$134,612		$132,585		$62,743		$62,121		($70,464)		2.68%		$770
	Goldman Sachs Notes		10/01/14		5.000%		67,000		$62,020		$60,115		$66,678		$62,572		$2,457		5.35%		$558
	J.P. Morgan Chase Notes		01/17/11		floating		62,000		$55,128		$55,016		$62,121		$62,141		$7,125
	U.S. Treasury Note		07/10/10		3.875%		243,000						$232,786		$232,826		$232,826		4.04%		$3,538
	Fed Home Loan Mtg		11/16/07		4.375%		351,000						$346,643		$346,283		$346,283		4.43%		$640
	Fed Natl Mtg Assoc		10/15/08		4.500%		479,000						$471,331		$470,618		$470,618		4.58%		$2,754
	Fed Home Loan Mtg		03/15/11		5.625%		401,000						$405,567		$404,886		$404,886		5.57%		$4,762
	Fed Natl Mtg Assoc		03/15/12		6.125%		693,000						$718,049		$717,253		$717,253		5.91%		$8,961
	GE Electric Corp		04/01/09		3.125%		100,000						$93,993		$93,896		$93,896		3.32%		$521
	Totals						4,475,000		$2,437,673		$2,382,463		$2,927,092		$2,902,878		$520,415				$30,127
	Weighted Average Years to Maturity				4.02
	Weighted Average Yield				4.93%