Omb Approval
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3235-0578
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February 28, 2006
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United States
Securities and Exchange Commission
Washington, D.C. 20549
Form N-Q
Quarterly Schedule of Portfolio Holdings of Registered
Management Investment Company
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Investment Company Act file number: 811-05807
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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)
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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)
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Registrant's telephone number, including area code:
(877) 275-6242
Date of fiscal year end: December 31, 2004
Date of reporting period: September 30, 2004
Item 1. Schedule of Investments
NAIC Growth Fund, Inc.
Portfolio of Investments - September 30, 2004 (unaudited)
% Common Stock Shares Cost Market
3.0 Auto Replacement
O'Reilly Auto* 20,000 $242,606 $766,800
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$766,500
12.5 Banking
JP Morgan Chase 13,200 331,370 523,776
Citigroup 18,000 194,288 804,600
Comerica, Inc. 10,000 404,669 588,600
Huntington Banc. 25,000 238,023 618,750
Synovus Financial 25,000 263,393 647,500
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3,183,226
2.6 Building Products
Johnson Controls 12,000 96,895 672,120
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672,120
2.8 Chemicals
RPM 25,000 287,099 431,250
Sigma Aldrich 5,000 94,937 286,850
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718,100
3.7 Consumer Products
Colgate-Palmolive 14,000 382,490 637,000
Newell Rubbermaid 16,000 413,527 319,840
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956,840
3.1 Electrical Equipment
General Electric 24,000 441,341 802,800
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802,800
1.8 Electronics
Diebold 10,000 269,187 469,900
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469,900
10.5 Ethical Drugs
Abbott Laboratories 12,000 516,377 507,720
Johnson & Johnson 15,000 614,274 855,450
Merck & Co., Inc. 10,000 359,350 450,700
Pfizer, Inc. 28,000 606,755 845,040
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2,658,910
1.6 Financial Services
State Street Boston 10,000 167,976 421,500
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421,500
6.7 Food
ConAgra 18,000 351,815 467,100
Heinz, H.J. 16,000 532,050 578,080
McCormick & Co 20,000 223,975 662,800
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1,707,980
7.9 Hospital Supplies
Biomet Corp. 17,000 166,709 801,210
PolyMedica 8,000 218,481 246,480
Stryker Corp. 20,000 95,500 955,600
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2,003,290
2.7 Industrial Services
Donaldson Co. 24,000 162,563 680,640
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680,640
6.0 Insurance
AFLAC, Inc. 20,000 143,906 783,800
American Int'l Group 11,000 266,419 753,500
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1,537,300
2.4 Machinery
Emerson Electric 10,000 335,278 621,800
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621,800
8.4 Multi Industry
Carlisle 9,000 364,086 576,630
Pentair 28,000 456,569 955,080
Teleflex 14,000 445,436 600,180
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2,131,890
1.3 Office Supplies
Avery Dennison 5,000 264,504 323,550
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323,550
2.0 Realty Trust
First Industrial
Realty Trust 14,000 394,963 518,980
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518,980
2.8 Soft Drinks
PepsiCo 15,000 335,649 721,500
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721,500
2.3 Transportation
Sysco Corp. 20,000 142,750 600,000
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600,000
84.1% Investment
Securities $10,825,210 $21,497,126
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Short-term Investments
15.6 United States Treasury Bills,
Maturing 10/28/2004
Interest rate: 1.5% $3,994,089
0.4 Misc. Cash Equivalents 116,268
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16.0% $4,110,357
Total Investments $25,607,483
(0.1) All other assets less liabilities (32,141)
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100% TOTAL NET ASSETS $25,575,342
* non-income producing securities
footnote:
The following information is based upon federal income
tax cost of portfolio investments as of September 30, 2004:
Gross Unrealized Appreciation $10,744,261
Gross Unrealized Depreciation (102,345)
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Net Unrealized Appreciation $10,671,916
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Federal Income Tax Cost $10,825,210
ITEM 2. CONTROLS AND PROCEDURES.
(i) As of November 2, 2004, 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, 2004 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
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Kenneth S. Janke
President (Principal Executive Officer)
Date: November 17, 2004
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
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Kenneth S. Janke
President (Principal Executive Officer)
Date: November 17, 2004
By: /s/ Calvin George
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Calvin George
Accountant (Principal Financial Officer)
Date: November 17, 2004