STUDENT MANAGERS, FALL, 2006

INVESTMENT CLASS1

Student Hometown Major Classification
Freddy Chong Caracus, Venezuela Accounting Graduate
Patrick Dixon Greenbrier, AR Finance Senior
Breanne Garrett Ft. Worth, TX Finance Junior
Tomas Jecminek Havirov, Czech Republic Accounting Senior
Marcus Jones Arkadelphia, AR Marketing Senior
Matt Lemmond Richardson, TX Finance Senior
Nick Norcross Arlington, TX Finance Senior
Jesus Parra Venezuela Finance Junior
Keith Reed Malvern, AR Finance Senior
Jordan Schwertner Dallas, TX Accounting Senior
Sammy Williams Des Arc, AR Finance Senior
Monica Wood Batesville, AR Accounting Junior
Rob Young White Hall, AR Political Science Senior

1In accordance with a class vote, the following transactions were completed on December 12, 2006:

Sold 180 shares of Starbucks at $36.5728 per share.

Sold 27 shares of Murphy Oil at $53.6401 per share.

Bought 150 shares of Direct TV at $25.058 per share.

Bought 100 shares of American Oriental Bioengineering at $12.959 per share.

Bought 50 shares of Coach at $42.8099 per share.

On December 22, 2006 25 shares of Lockheed Martin were purchased at $91.71 per share.  This transaction was also voted on December 12 but was  delayed awaiting receipt of a deposit by the brokerage firm.

In addition to the above transactions, the 245 shares of Worldcom owned by the SIF were sold at $.0041 on December 21, 2006 to officially remove them from the books of the fund.  No cash was received from this transaction.