Stephen F. Austin State University
	Summary of Investments
	as of August 31, 2004
			August 31, 2004		August 31, 2004
			Book Value		Market Value
	Equity Securities:
	U.S. Common Stock		4,403,892		5,216,034
	Equity Mutual Funds
	Other Equity Securities (list)
	Total Equities		4,403,892		5,216,034
	Other Investments:
	Real Estate
	Private Equity
	Annuities
	Collective Endowment Funds
	Commodities
	Collectibles
	Other (list)
	Total Other Investments
	Debt Investments >1 year:
	U.S. Government		9,712,108.00		9,781,982.00
	U.S. Government Agency		403,900.00		409,491.00
	Mortgage Pass Throughs		289,266.00		290,067.00
	C.M.O.s
	Interest Only Strips
	Principal Only Strips
	Inverse Floaters
	Stated Maturities longer than 10 years
	PFIA Compliant C.M.O.s
	Other Asset-Backed Bonds
	Foreign Issued Obligations
	Municipal Obligations
	Corporate Obligations
	Highly Rated (AAA/AA)
	Investment Grade (A/BBB)		1,420,085.00		1,431,530.00
	NR/High Yield (<BBB)
	G.I.C’s
	Bond Mutual Funds
	Other (list)
	Total Debt >1 year		$11,825,359		$11,913,070
	Short Term Investments:
	U.S. Government		4,804,328		4,834,128
	U.S. Government Agency
	C.D.’s/B.A.’s		6,953,285		6,966,095
	A1/P1 Commercial Paper
	Repurchase Agreements
	TexPool		584,599		584,599
	Other Money Market Funds & Pools		29,431,722		29,460,795
	Bank Deposits		6,026		6,026
	Cash Held at State Treasury		162,441		162,441
	ST Corp Bonds		244,646		248,068
	Total Short Term Debt		$42,187,047		$42,262,152
	TOTAL INVESTMENTS:		$58,416,298		$59,391,256
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