Stephen F. Austin State University
								Inventory of Fixed Securities
								Endowment Funds
								May 31, 2007
								Beginning Period				Ending Period
		Maturity				Face		3/1/2007		5/31/2007		5/31/2007		5/31/2007		Market Value		Current		Accrued
Security		Date		Coupon		Amount		Book Value		Market Value		Book Value		Market Value		Change		Yield		Interest
U.S. Treasury Note		11/15/08		3.375%		$281,000		$270,601		$274,995						($274,995)
U.S. Treasury Note		02/15/16		4.500%		$667,000		$650,057		$669,453						($669,453)
Goldman Sachs Notes		10/01/14		5.000%		$74,000		$73,286		$72,336						($72,336)
U.S. Treasury		11/30/08		4.625%		682,000		$678,820		$681,413		$323,375		$323,375		($358,038)		4.64%		$0
U.S. Treasury		02/29/12		4.625%		552,000						$556,131		$546,651		$546,651		4.67%		$6,383
U.S. Treasury		08/15/15		4.250%		107,000						$104,968		$102,319		$102,319		4.44%		$1,319
U.S. Treasury		02/15/16		4.500%		672,000						$627,345		$630,433		$630,433		4.62%		$8,458
Fed Nat'l Mtg		10/15/08		4.500%		512,000		$540,394		$546,425		$503,986		$506,880		($39,545)		4.54%		$2,944
Fed Nat'l Mtg		02/01/11		6.250%		164,000		$180,060		$178,748		$172,109		$169,894		($8,854)		6.03%		$3,417
Fed Home Loan Mtg		03/15/11		5.625%		438,000		$459,678		$468,509		$442,232		$444,982		($23,527)		5.53%		$5,201
Fed Nat'l Mtg		03/15/12		6.125%		263,000		$281,895		$288,613		$271,144		$273,273		($15,340)		5.89%		$3,401
General Electric		04/01/09		3.125%		108,000		$107,269		$109,891		$101,629		$103,965		($5,926)		3.24%		$562
Eksportfinans		02/14/12		5.000%		103,000		$107,717		$108,683		$102,730		$102,148		($6,535)		5.04%		$1,516
J.P. Morgan Chase		01/17/11		floating		68,000		$71,121		$71,256		$68,107		$68,178		($3,078)
						$4,691,000		$3,420,898		$3,470,322		$3,273,756		$3,272,098		($198,224)				$33,201
Weighted Average Years to Maturity						4.19
Weighted Average Yield						4.88%