Omb Approval
Omb Number:
3235-0578
Expires:
February 28, 2006
Estimated
average burden
hours per
response: 20.00
United States
Securities and Exchange Commission
Washington, D.C. 20549
Form N-Q
Quarterly Schedule of Portfolio Holdings of Registered
Management Investment Company
-------------------------------------------------------------
Investment Company Act file number: 811-05807
-------------------------------------------------------------
NAIC Growth Fund, Inc.
(Exact name of registrant as specified in charter)
711 West 13 Mile Road, Madison Heights, MI 48071
(Address of principal executive offices) (zip code)
-------------------------------------------------------------
Kenneth S. Janke, President
NAIC Growth Fund, Inc.
711 W. 13 Mile Road
Madison Heights, MI 48071
(248) 583-6242
(Name and address of agent for service)
-------------------------------------------------------------
Registrant's telephone number, including area code:
(877) 275-6242
Date of fiscal year end: December 31, 2005
Date of reporting period: September 30, 2005
Item 1. Schedule of Investments
NAIC Growth Fund, Inc.
Portfolio of Investments - September 30, 2005 (unaudited)
% Common Stock Shares Cost Market
4.3 Auto Replacement
O'Reilly Auto* 40,000 $242,606 $1,127,200
--------
$1,127,200
12.8 Banking
JP Morgan Chase 15,000 396,347 508,950
Citigroup 22,000 368,636 1,001,440
Comerica, Inc. 10,000 404,669 589,000
Huntington Banc. 25,000 238,023 561,750
Synovus Financial 27,000 317,651 748,440
-------
3,409,580
2.8 Building Products
Johnson Controls 12,000 96,895 744,600
-------
744,600
3.4 Chemicals
RPM 25,000 287,099 460,000
Sigma Aldrich 7,000 213,318 448,420
-------
908,420
3.2 Consumer Products
Colgate-Palmolive 16,000 469,850 844,640
-------
844,640
3.1 Electrical Equipment
General Electric 24,000 441,341 808,080
-------
808,080
1.3 Electronics
Diebold 10,000 269,187 344,600
-------
344,600
10.0 Ethical Drugs
Abbott Laboratories 17,000 734,982 720,800
Johnson & Johnson 15,000 614,274 949,200
Merck & Co., Inc. 10,000 359,350 272,100
Pfizer, Inc. 28,000 606,755 699,160
-------
2,641,260
6.4 Financial Services
CIT Group 10,000 392,785 451,800
State Street Boston 16,000 436,700 782,720
Washington Mutual 12,000 488,800 470,640
-------
1,705,160
6.4 Food
ConAgra 18,000 351,815 445,500
Heinz, H.J. 16,000 532,050 584,640
McCormick & Co 20,000 223,975 652,600
-------
1,682,740
2.4 Food Wholesale
Sysco Corp. 20,000 142,750 627,400
-------
627,400
10.3 Hospital Supplies
Biomet Corp. 17,000 166,709 590,070
Medtronic 14,000 704,829 750,680
PolyMedica 12,000 346,237 419,280
Stryker Corp. 20,000 95,500 988,600
-------
2,748,630
2.8 Industrial Services
Donaldson Co. 24,000 162,563 732,720
-------
732,720
1.3 Information Technology
Jack Henry &
Associates 18,000 327,009 349,200
-------
349,200
3.4 Insurance
AFLAC, Inc. 20,000 143,906 906,000
-------
906,000
2.7 Machinery
Emerson Electric 10,000 335,278 718,000
-------
718,000
9.4 Multi Industry
Carlisle 11,000 495,674 699,270
Pentair 18,000 280,288 657,000
Teleflex 16,000 545,607 1,128,000
-------
2,484,270
2.4 Office Supplies
Avery Dennison 12,000 666,064 628,680
-------
628,680
2.1 Realty Trust
First Industrial
Realty Trust 14,000 394,962 560,700
-------
560,700
2.6 Restaurant
Wendy's 15,000 579,762 677,250
-------
677,250
3.6 Soft Drinks
PepsiCo 17,000 433,218 964,070
-------
964,070
96.7% Investment
Securities $14,307,464 $25,613,200
-------------------------------------------------------
Short-term Investments
2.3 United States Treasury Bills,
Maturing 10/27/2005
Interest rate: 2.5% $598,279
1.3 Misc. Cash Equivalents 353,942
-------------------------------------------------------
3.6% $952,221
Total Investments $26,565,421
(0.3) All other assets less liabilities (83,382)
-------------------------------------------------------
100% TOTAL NET ASSETS $26,482,039
* non-income producing securities
footnote:
The following information is based upon federal income
tax cost of portfolio investments as of September 30, 2005:
Gross Unrealized Appreciation $11,462,711
Gross Unrealized Depreciation (156,975)
------------
Net Unrealized Appreciation $11,305,736
------------
Federal Income Tax Cost $14,307,464
ITEM 2. CONTROLS AND PROCEDURES.
(i) As of October 17, 2005, an evaluation of the
effectiveness of the registrant's disclosure controls and
procedures (as defined in Rule 30a-3(c) under the
Investment Company Act of 1940) was performed by management
with the participation of the registrant's President
(Principal Executive Officer) and Accountant (person
performing the functions of the Principal Financial
Officer). Based on that evaluation, the registrant's
President and Accountant concluded that the registrant's
disclosure controls and procedures are effectively
designed to ensure that information required to be disclosed
by the registrant is recorded, processed, summarized and
reported within the time periods specified by the
Commission's rules and forms, and that information
required to be disclosed in the reports that the registrant
files on Form N-CSR and Form N-Q is accumulated and
communicated to the registrant's management, including
its Principal Executive Officer and Principal Financial
Officer,as appropriate, to allow timely decisions regarding
required disclosure.
(ii) There has been no change in the registrants's internal
control over financial reporting (as defined in Rule 30a-3(d) under
the Investment Company Act) that occurred during the 9 months
ending September 30, 2005 that has materially affected, or is
reasonably likely to materially affect, the registrant's internal
control over financial reporting.
Item 3. Exhibits
(A) Certification of principal executive officer as required
by Rule 30a-2(a) under the Act.
(B) Certification of principal financial officer as required
by Rule 30a-2(a) under the Act.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934
and the Investment Company Act of 1940, the registrant has duly caused
this report to be signed on its behalf by the undersigned, thereunto
duly authorized.
NAIC GROWTH FUND, INC.
By: /s/ Kenneth S. Janke
----------------------
Kenneth S. Janke
President (Principal Executive Officer)
Date: October 17, 2005
Pursuant to the requirements of the Securities Exchange Act of 1934
and the Investment Company Act of 1940, this report has been signed
below by the following persons on behalf of the registrant and in
the capacities and on the dates indicated.
By: /s/ Kenneth S. Janke
----------------------
Kenneth S. Janke
President (Principal Executive Officer)
Date: October 17, 2005
By: /s/ Calvin George
---------------------
Calvin George
Accountant (Principal Financial Officer)
Date: October 17, 2005