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, 2007
Date of reporting period: March 31, 2007
Item 1. Schedule of Investments
NAIC Growth Fund, Inc.
Portfolio of Investments - March 31, 2007 (unaudited)
% Common Stock Shares Cost Market
3.7 Auto Replacement
O'Reilly Auto* 30,000 $189,637 $993,000
Total $993,000
14.4 Banking
Citigroup 22,000 368,635 1,129,480
Comerica, Inc. 10,000 404,669 591,200
Huntington Banc. 25,000 238,023 546,250
JP Morgan Chase 15,000 396,347 725,700
Synovus Financial 27,000 317,651 873,180
Total 3,865,810
4.0 Beverages - Soft Drinks
PepsiCo 17,000 433,218 1,080,520
Total 1,080,520
4.3 Chemicals
RPM 25,000 287,099 577,500
Sigma Aldrich 14,000 213,317 581,280
Total 1,158,780
3.9 Consumer Products
Colgate-Palmolive 16,000 469,850 1,068,640
Total 1,068,640
3.2 Electrical Equipment
General Electric 24,000 441,341 848,640
Total 848,640
11.3 Ethical Drugs
Abbott Laboratories 20,000 860,150 1,116,000
Johnson & Johnson 20,000 915,045 1,205,200
Pfizer, Inc. 28,000 606,755 707,280
Total 3,028,480
8.1 Financial Services
CIT Group 10,000 392,785 529,200
State Street 16,000 436,700 1,036,000
Washington Mutual 15,000 609,130 605,700
Total 2,170,900
3.4 Food
McCormick & Co. 24,000 347,055 924,480
Total 924,480
4.0 Food Wholesale
Sysco 32,000 507,179 1,082,560
Total 1,082,560
14.9 Hospital Supplies
Biomet Corp. 28,000 573,428 1,189,720
Medtronic 17,000 850,214 834,020
Polymedica 12,000 346,237 507,960
Stryker Corp. 22,000 180,012 1,459,040
Total 3,990,740
3.5 Insurance
AFLAC, Inc. 20,000 143,906 941,200
Total 941,200
3.1 Information Technology
Jack Henry & Assoc. 34,000 626,878 817,700
Total 817,700
3.2 Machinery
Emerson Electric Co. 20,000 335,278 861,800
Total 861,800
4.1 Multi Industry
Teleflex 16,000 545,608 1,089,120
Total 1,089,120
2.9 Office Supplies
Avery Dennison 12,000 666,064 771,120
Total 771,120
92.0% Investment
Securities $12,702,212 $24,693,490
Short-term Investments
3.7 United States Treasury Bills,
Maturing 4/26/2007 $ 995,139
4.5 Misc. Cash Equivalents 1,201,364
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8.2% $2,196,503
Total Investments $26,889,993
(0.2) All other assets less liabilities (51,775)
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100% TOTAL NET ASSETS $26,838,218
* non-income producing securities
footnote:
The following information is based upon federal income
tax cost of portfolio investments as of March 31, 2007:
Gross Unrealized Appreciation $12,010,902
Gross Unrealized Depreciation (19,624)
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Net Unrealized Appreciation $11,991,278
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Federal Income Tax Cost $12,702,212
ITEM 2. CONTROLS AND PROCEDURES.
(i) As of April 27, 2007, 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 last fiscal
quarter of the period covered by this report that has materially
affected, or is reasonably likely to materially affect, the
registrant's internalcontrol 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: April 27, 2007
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: April 27, 2007
By: /s/ Calvin George
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Calvin George
Accountant (Principal Financial Officer)
Date: April 27, 2007