Omb Approval
Omb Number:
3235-0578
Expires:
May 31, 2007
Estimated
average burden
hours per
response: 21.09
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, 2006
Date of reporting period: September 30, 2006
Item 1. Schedule of Investments
NAIC Growth Fund, Inc.
Portfolio of Investments - September 30, 2006 (unaudited)
% Common Stock Shares Cost Market
3.7 Auto Replacement
O'Reilly Auto* 30,000 $189,637 $996,300
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$996,300
13.8 Banking
JP Morgan Chase 15,000 396,347 704,400
Citigroup 22,000 368,636 1,092,740
Comerica, Inc. 10,000 404,669 569,200
Huntington Banc. 25,000 238,023 598,250
Synovus Financial 27,000 317,651 792,990
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3,757,580
4.1 Beverages - Soft Drinks
PepsiCo 17,000 433,218 1,109,420
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1,109,420
3.7 Chemicals
RPM 25,000 287,099 474,750
Sigma Aldrich 7,000 213,318 529,690
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1,004,440
3.7 Consumer Products
Colgate-Palmolive 16,000 469,850 993,600
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993,600
3.1 Electrical Equipment
General Electric 24,000 441,341 847,200
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847,200
11.2 Ethical Drugs
Abbott Laboratories 20,000 860,150 971,200
Johnson & Johnson 20,000 915,045 1,298,800
Pfizer, Inc. 28,000 606,755 794,080
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3,064,080
7.9 Financial Services
CIT Group 10,000 392,785 486,300
State Street Boston 16,000 436,700 998,400
Washington Mutual 15,000 609,130 652,050
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2,136,750
3.3 Food
McCormick & Co 24,000 347,055 911,520
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911,520
3.9 Food Wholesale
Sysco Corp. 32,000 507,179 1,070,400
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1,070,400
12.1 Hospital Supplies
Biomet Corp. 28,000 573,428 901,320
Medtronic 17,000 850,214 789,480
PolyMedica 12,000 346,237 513,720
Stryker Corp. 22,000 180,012 1,090,980
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3,295,500
2.7 Information Technology
Jack Henry &
Associates 34,000 626,877 740,860
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740,860
3.4 Insurance
AFLAC, Inc. 20,000 143,906 915,200
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915,200
3.1 Machinery
Emerson Electric 10,000 335,278 838,600
-------
838,600
5.0 Multi Industry
Pentair 18,000 280,288 471,420
Teleflex 16,000 545,608 890,240
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1,361,660
2.7 Office Supplies
Avery Dennison 12,000 666,064 722,040
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722,040
87.4 Investment
Securities $12,982,500 $23,765,150
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Short-term Investments
7.4 United States Treasury Bills
Maturing 10/26/2006 1,993,015
5.3 Misc. Cash Equivalents 1,443,987
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12.7% $3,437,002
Total Investments $27,202,152
(0.1) All other assets less liabilities (12,071)
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100% TOTAL NET ASSETS $27,190,081
* non-income producing securities
footnote:
The following information is based upon federal income
tax cost of portfolio investments as of September 30, 2006:
Gross Unrealized Appreciation $10,843,384
Gross Unrealized Depreciation (60,734)
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Net Unrealized Appreciation $10,782,650
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Federal Income Tax Cost $12,982,500
ITEM 2. CONTROLS AND PROCEDURES.
(i) As of October 25, 2006, 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, 2006 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: October 25, 2006
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: October 25, 2006
By: /s/ Calvin George
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Calvin George
Accountant (Principal Financial Officer)
Date: October 25, 2006