Omb Approval
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3235-0578
Expires:
February 28, 2006
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average burden
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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, 2005
Date of reporting period: March 31, 2005
Item 1. Schedule of Investments
NAIC Growth Fund, Inc.
Portfolio of Investments - March 31, 2005 (unaudited)
% Common Stock Shares Cost Market
3.8 Auto Replacement
O'Reilly Auto* 20,000 $242,606 $990,600
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$990,600
12.9 Banking
JP Morgan Chase 13,200 331,370 456,720
Citigroup 22,000 368,636 988,680
Comerica, Inc. 10,000 404,669 550,800
Huntington Banc. 25,000 238,023 597,500
Synovus Financial 27,000 317,651 752,220
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3,345,920
2.6 Building Products
Johnson Controls 12,000 96,895 669,120
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669,120
3.4 Chemicals
RPM 25,000 287,099 457,000
Sigma Aldrich 7,000 213,318 428,750
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885,750
4.7 Consumer Products
Colgate-Palmolive 16,000 469,850 834,720
Newell Rubbermaid 18,000 452,267 394,920
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1,229,640
3.3 Electrical Equipment
General Electric 24,000 441,341 865,440
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865,440
2.1 Electronics
Diebold 10,000 269,187 548,500
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548,500
10.8 Ethical Drugs
Abbott Laboratories 16,000 687,652 745,920
Johnson & Johnson 15,000 614,274 1,007,400
Merck & Co., Inc. 10,000 359,350 323,700
Pfizer, Inc. 28,000 606,755 735,560
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2,812,580
5.2 Financial Services
CIT Group 7,000 269,845 266,000
State Street Boston 16,000 436,700 699,520
Washington Mutual 10,000 403,500 395,000
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1,360,520
6.8 Food
ConAgra 18,000 351,815 486,360
Heinz, H.J. 16,000 532,050 589,440
McCormick & Co 20,000 223,975 688,600
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1,764,400
9.4 Hospital Supplies
Biomet Corp. 17,000 166,709 617,100
Medtronic 12,000 595,869 611,400
PolyMedica 10,000 284,082 317,600
Stryker Corp. 20,000 95,500 892,200
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2,438,300
3.0 Industrial Services
Donaldson Co. 24,000 162,563 774,720
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774,720
2.9 Insurance
AFLAC, Inc. 20,000 143,906 745,200
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745,200
2.5 Machinery
Emerson Electric 10,000 335,278 649,300
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649,300
8.6 Multi Industry
Carlisle 9,000 364,085 627,930
Pentair 20,000 288,247 780,000
Teleflex 16,000 545,608 818,880
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2,226,810
2.4 Office Supplies
Avery Dennison 10,000 557,743 619,300
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619,300
2.0 Realty Trust
First Industrial
Realty Trust 14,000 394,962 529,620
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529,620
2.3 Restaurant
Wendy's 15,000 579,761 585,600
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585,600
3.5 Soft Drinks
PepsiCo 17,000 433,218 901,510
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901,510
2.8 Transportation
Sysco Corp. 20,000 142,750 716,000
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716,000
95.0% Investment
Securities $13,709,109 $24,658,830
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Short-term Investments
4.6 United States Treasury Bills,
Maturing 4/28/2005
Interest rate: 2.5% $1,197,380
0.8 Misc. Cash Equivalents 216,589
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5.4% $1,413,969
Total Investments $26,072,799
(0.4) All other assets less liabilities (120,278)
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100% TOTAL NET ASSETS $25,952,521
* non-income producing securities
footnote:
The following information is based upon federal income
tax cost of portfolio investments as of March 31, 2005:
Gross Unrealized Appreciation $11,055,063
Gross Unrealized Depreciation (105,342)
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Net Unrealized Appreciation $10,949,721
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Federal Income Tax Cost $13,709,109
ITEM 2. CONTROLS AND PROCEDURES.
(i) As of May 6, 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 3 months
ending March 31, 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
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Kenneth S. Janke
President (Principal Executive Officer)
Date: May 9, 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
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Kenneth S. Janke
President (Principal Executive Officer)
Date: May 9, 2005
By: /s/ Calvin George
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Calvin George
Accountant (Principal Financial Officer)
Date: May 9, 2005