The purpose of this investigation was to assess the reliability and validity of eight developmental asset measures among a stratified, random sample (N = 540) of college students to guide health promotion efforts. The sample was randomly split to produce exploratory and confirmatory samples for factor analysis using principal axis factoring and varimax rotation and structural equation modeling techniques. Items were retained on factors if they had high loadings greater than 0.40 and were not complex. Concurrent validity was examined among substance use (including alcohol and tobacco) and sexual risk-taking variables. Exploratory and confirmatory samples did not differ on demographics. Parallel analysis confirmed the eight theorized constructs. Exploratory factor loadings were greater than 0.40. Concurrently, validity analyses were in the predicted direction. Cronbach alphas were 0.70 or greater with the exception of the Future Aspirations asset. Preliminary analyses support the reliability and validity of measuring developmental assets among emerging adults. Implications and potential uses are discussed. (Contains 4 tables.)