Stephen F. Austin State University
	Summary of Investments
	Endowment Fund
	At May 31, 2007
						Book Value	%	Market Value	%
Long-term Securities
Debt Securities
	U.S. Government Obligations
		Direct Treasuries				1,611,819.00	17.65%	1,618,937.00	15.86%
		Guaranteed
			Mortgage-Backed				0.00%		0.00%
			Other
	Total U.S. Government Obligations					1,611,819.00	17.65%	1,618,937.00	15.86%
	U.S. Government Agencies (Non-Gtd.)
		Mortgage-Backed				1,389,471.00		1,409,992.00
		Other
	Total U.S. Govt. Agencies (Non-Gtd.)					1,389,471.00	15.21%	1,409,992.00	13.82%
	Foreign Government Obligations
	Municipal and County Bonds
	Corporate Bonds					272,467.00		276,370.00
	Other
		Total Debt Securities				3,273,757.00	35.84%	3,305,299.00	32.39%
Equity Securities
	Common Stocks and Other Equities					4,470,609.00	48.95%	5,499,593.44
	Index Funds
	Mutual Funds
	Other
	Total Equity Securities					4,470,609.00		5,499,593.44
	Total Long-term Securities					7,744,366.00	84.79%	8,804,892.44	86.28%
Alternative Investments						999,963.00	10.95%	1,010,575.00	9.90%
Short-term Securities
	U.S. Govt (Direct & Guaranteed)
	U.S. Govt Agencies (Non-Gtd)
	Corporate Bonds
	TexPool
	Certificates of Deposit
	Total Short-term Securities					0.00		0.00
Cash and Cash Equivalents
	Cash
	Money Markets					379,195.00	4.15%	379,195.00	3.72%
	Certificates of Deposit					10,075.49	0.11%	10,075.49	0.10%
	Total Cash and Cash Equivalents					389,270.49	4.26%	389,270.49	3.81%
	Total Investments					9,133,599.49	100.00%	10,204,737.93	100.00%