Stephen F. Austin State University
	Summary of Investments
	Endowment Fund
	At August 31, 2005
						Book Value	%	Market Value	%
Long-term Securities
Debt Securities
	U.S. Government Obligations
		Direct Treasuries				1,103,918.00	13.72%	1,126,202.00	12.08%
		Guaranteed
			Mortgage-Backed				0.00%		0.00%
			Other
	Total U.S. Government Obligations					1,103,918.00	13.72%	1,126,202.00	12.08%
	U.S. Government Agencies (Non-Gtd.)
		Mortgage-Backed				268,813.00		273,490.00
		Other
	Total U.S. Govt. Agencies (Non-Gtd.)					268,813.00	3.34%	273,490.00	2.93%
	Foreign Government Obligations
	Municipal and County Bonds
	Corporate Bonds					518,606.00		524,033.00
	Other
		Total Debt Securities				1,891,337.00	23.51%	1,923,725.00	20.64%
Equity Securities
	Common Stocks and Other Equities					4,651,137.00		5,888,729.00
	Index Funds
	Mutual Funds
	Other
	Total Equity Securities					4,651,137.00		5,888,729.00
	Total Long-term Securities					6,542,474.00	81.34%	7,812,454.00	83.81%
Short-term Securities
	U.S. Govt (Direct & Guaranteed)					941,268.00	11.70%	949,657.51	10.19%
	U.S. Govt Agencies (Non-Gtd)
	Corporate Bonds					86,211.00	1.07%	86,346.00	0.93%
	TexPool
	Certificates of Deposit
	Total Short-term Securities					1,027,479.00	12.77%	1,036,003.51	11.11%
Cash and Cash Equivalents
	Cash
	Money Markets					463,165.00	5.76%	463,165.00	4.97%
	Certificates of Deposit					10,075.49	0.13%	10,075.49	0.11%
	Total Cash and Cash Equivalents					473,240.49	5.88%	473,240.49	5.08%
	Total Investments					8,043,193.49	100.00%	9,321,698.00	100.00%