-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, U26NP7xBRuc/BSe/ztD33IKNN9mFW9gyLiN3SBp/syy8EUXn/mdaprhl/0or4HnA VFd2wscIevgXWP0RNW/A0w== 0000820027-05-001161.txt : 20051223 0000820027-05-001161.hdr.sgml : 20051223 20051223100608 ACCESSION NUMBER: 0000820027-05-001161 CONFORMED SUBMISSION TYPE: N-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20051031 FILED AS OF DATE: 20051223 DATE AS OF CHANGE: 20051223 EFFECTIVENESS DATE: 20051223 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AXP GROWTH SERIES INC/MN CENTRAL INDEX KEY: 0000049702 IRS NUMBER: 410962638 STATE OF INCORPORATION: MN FISCAL YEAR END: 0731 FILING VALUES: FORM TYPE: N-Q SEC ACT: 1940 Act SEC FILE NUMBER: 811-02111 FILM NUMBER: 051284190 BUSINESS ADDRESS: STREET 1: 50606 AXP FINANCIAL CENTER STREET 2: H27/52 CITY: MINNEAPOLIS STATE: MN ZIP: 55474 BUSINESS PHONE: 6126712772 MAIL ADDRESS: STREET 1: 50606 AXP FINANCIAL CENTER STREET 2: H27/52 CITY: MINNEAPOLIS STATE: MN ZIP: 55474 FORMER COMPANY: FORMER CONFORMED NAME: AXP GROWTH FUND INC DATE OF NAME CHANGE: 20000829 FORMER COMPANY: FORMER CONFORMED NAME: IDS GROWTH FUND INC DATE OF NAME CHANGE: 19920703 N-Q 1 growth-nq.txt AXP GROWTH SERIES, INC. UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM N-Q QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANIES Investment Company Act file number 811-2111 ------------ AXP GROWTH SERIES, INC. - -------------------------------------------------------------------------------- (Exact name of registrant as specified in charter) 50606 Ameriprise Financial Center, Minneapolis, Minnesota 55474 - -------------------------------------------------------------------------------- (Address of principal executive offices) (Zip code) Leslie L. Ogg - 901 S. Marquette Avenue, Suite 2810, Minneapolis, MN 55402-3268 - -------------------------------------------------------------------------------- (Name and address of agent for service) Registrant's telephone number, including area code: (612) 330-9283 ----------------- Date of fiscal year end: 7/31 -------------- Date of reporting period: 10/31 -------------- PORTFOLIO HOLDINGS FOR RIVERSOURCE DISCIPLINED EQUITY FUND AT OCT. 31, 2005 Investments in Securities RiverSource Disciplined Equity Fund Oct. 31, 2005 (Unaudited) (Percentages represent value of investments compared to net assets) Common Stocks (98.9%) Issuer Shares Value(a) Aerospace & Defense (1.9%) Boeing 13,982 $903,796 Goodrich 2,918 105,252 Rockwell Collins 6,474 296,639 United Technologies 23,328 1,196,260 Total 2,501,947 Air Freight & Logistics (0.5%) FedEx 8,070 741,875 Auto Components (0.1%) Delphi 19,339 7,832 Johnson Controls 2,710 184,416 Total 192,248 Automobiles (1.0%) Ford Motor 59,497 495,015 General Motors 19,047 521,887 Harley-Davidson 7,703(c) 381,530 Total 1,398,432 Beverages (1.7%) Coca-Cola 54,536 2,333,050 Biotechnology (0.3%) Gilead Sciences 8,252(b) 389,907 Capital Markets (2.1%) Bear Stearns Companies 2,977 314,967 Franklin Resources 11,019 973,748 Lehman Brothers Holdings 6,573 786,591 Merrill Lynch & Co 3,855 249,573 Morgan Stanley 10,063 547,528 Total 2,872,407 Chemicals (0.5%) Monsanto 10,060 633,881 Commercial Banks (1.4%) Comerica 3,962 228,924 KeyCorp 5,983 192,892 Natl City 22,024 709,834 Common Stocks (continued) Issuer Shares Value(a) Commercial Banks (cont.) PNC Financial Services Group 10,111 $613,839 Wachovia 2,649 133,827 Total 1,879,316 Commercial Services & Supplies (0.1%) Equifax 3,937 135,708 Communications Equipment (1.1%) Comverse Technology 9,884(b) 248,088 Corning 25,798(b) 518,281 Motorola 20,337 450,668 Scientific-Atlanta 3,865 136,976 Tellabs 11,862(b) 113,401 Total 1,467,414 Computers & Peripherals (2.8%) Hewlett-Packard 94,980 2,663,239 Lexmark Intl Cl A 1,816(b) 75,400 NCR 5,436(b) 164,276 Network Appliance 12,591(b) 344,490 QLogic 19,572(b) 590,292 Total 3,837,697 Consumer Finance (0.3%) MBNA 14,538 371,737 Distributors (0.2%) Genuine Parts 4,854 215,372 Diversified Financial Services (7.6%) CIT Group 4,009 183,332 Citigroup 84,808 3,882,510 iShares MSCI EAFE Index Fund 110,400 6,215,520 Total 10,281,362 Diversified Telecommunication Services (6.1%) AT&T 40,392 798,954 BellSouth 84,339 2,194,501 Common Stocks (continued) Issuer Shares Value(a) Diversified Telecommunication Services (cont.) SBC Communications 118,859 $2,834,787 Verizon Communications 76,382 2,406,797 Total 8,235,039 Electric Utilities (3.2%) Allegheny Energy 3,004(b) 84,893 American Electric Power 8,425 319,813 CenterPoint Energy 19,683 260,603 Edison Intl 7,885 345,048 Exelon 26,210 1,363,706 FPL Group 5,382 231,749 PG&E 10,993 399,925 TECO Energy 9,536 164,973 TXU 11,741 1,182,906 Total 4,353,616 Electrical Equipment (0.3%) American Power Conversion 6,587 140,896 Rockwell Automation 3,988 211,962 Total 352,858 Electronic Equipment & Instruments (0.1%) Jabil Circuit 3,704(b) 110,564 Energy Equipment & Services (1.5%) Halliburton 13,539 800,155 Natl Oilwell Varco 5,766(b) 360,202 Noble 2,036 131,078 Transocean 13,352(b) 767,606 Total 2,059,041 Food & Staples Retailing (4.3%) Albertson's 14,149 355,281 CVS 26,949 657,825 Kroger 26,816(b) 533,638 Safeway 25,543 594,130 SYSCO 4,436 141,553 Wal-Mart Stores 74,621 3,530,320 Total 5,812,747 See accompanying notes to investments in securities. - -------------------------------------------------------------------------------- 1 -- RIVERSOURCE DISCIPLINED EQUITY FUND -- PORTFOLIO HOLDINGS AT OCT. 31, 2005 Common Stocks (continued) Issuer Shares Value(a) Food Products (0.5%) Archer-Daniels-Midland 28,840(c) $702,831 Health Care Equipment & Supplies (0.6%) Becton, Dickinson & Co 3,982 202,087 Biomet 2,427 84,532 Medtronic 10,087 571,529 Total 858,148 Health Care Providers & Services (8.5%) Aetna 12,936 1,145,612 Cardinal Health 5,545(c) 346,618 Caremark Rx 14,262(b) 747,329 CIGNA 11,398 1,320,686 Coventry Health Care 6,325(b) 341,487 Express Scripts 5,576(b) 420,486 HCA 18,040 869,348 Humana 5,067(b) 224,924 McKesson 12,771 580,187 Medco Health Solutions 7,978(b) 450,757 Quest Diagnostics 4,584 214,119 Tenet Healthcare 11,188(b) 94,203 UnitedHealth Group 41,119 2,380,379 WellPoint 30,940(b) 2,310,599 Total 11,446,734 Hotels, Restaurants & Leisure (1.0%) Darden Restaurants 4,418 143,232 Harrah's Entertainment 8,056 487,227 Marriott Intl Cl A 3,294 196,388 Wendy's Intl 4,785 223,555 Yum! Brands 6,453 328,264 Total 1,378,666 Household Durables (2.0%) Centex 9,592 617,245 DR Horton 22,231 682,269 KB HOME 5,316 347,401 Lennar Cl A 2,507 139,339 Pulte Homes 17,481 660,607 Whirlpool 2,816 221,056 Total 2,667,917 Household Products (0.3%) Kimberly-Clark 6,076 345,360 Industrial Conglomerates (0.8%) 3M 14,197 1,078,688 Insurance (5.1%) Allstate 19,119 1,009,292 Ambac Financial Group 4,537 321,628 Aon 7,631 258,309 Hartford Financial Services Group 2,290 182,628 Jefferson-Pilot 2,029 111,352 Lincoln Natl 8,756 443,141 Loews 8,429 783,728 Marsh & McLennan Companies 14,338 417,953 MBIA 5,309 309,196 Prudential Financial 25,288 1,840,713 Common Stocks (continued) Issuer Shares Value(a) Insurance (cont.) Safeco 1,299 $72,354 St. Paul Travelers Companies 17,009 765,915 Torchmark 3,597 190,030 UnumProvident 9,896 200,790 Total 6,907,029 IT Services (0.7%) Affiliated Computer Services Cl A 2,305(b) 124,724 Automatic Data Processing 1,627 75,916 Convergys 11,645(b) 189,231 Electronic Data Systems 11,824 275,617 Sabre Holdings Cl A 6,183 120,754 Unisys 17,838(b) 91,152 Total 877,394 Leisure Equipment & Products (0.3%) Eastman Kodak 15,799 345,998 Mattel 8,419 124,180 Total 470,178 Machinery (0.4%) ITT Inds 2,789 283,362 PACCAR 4,329 303,117 Total 586,479 Media (0.2%) Walt Disney 13,238(c) 322,610 Metals & Mining (0.4%) Nucor 4,197 251,190 Phelps Dodge 2,050 246,964 Total 498,154 Multi-Utilities & Unregulated Power (1.9%) AES 31,821(b) 505,636 CMS Energy 10,719(b) 159,820 Constellation Energy Group 2,890 158,372 Dominion Resources 2,717 206,709 Duke Energy 22,517 596,250 Public Service Enterprise Group 13,161 827,695 Sempra Energy 2,652 117,484 Total 2,571,966 Multiline Retail (1.2%) Dollar General 7,198 139,929 Federated Dept Stores 11,027 676,727 JC Penney 6,529 334,285 Nordstrom 12,934 448,163 Total 1,599,104 Oil & Gas (13.0%) Amerada Hess 1,485 185,774 Anadarko Petroleum 3,635 329,731 Burlington Resources 6,452 465,963 Chevron 65,004 3,709,779 ConocoPhillips 39,802 2,602,255 Devon Energy 13,324 804,503 El Paso 19,633 232,847 EOG Resources 6,046 409,798 Exxon Mobil 113,186(c) 6,354,263 Kinder Morgan 5,817 528,765 Marathon Oil 5,578 335,572 Common Stocks (continued) Issuer Shares Value(a) Oil & Gas (cont.) Occidental Petroleum 8,384 $661,330 Sunoco 6,760 503,620 Valero Energy 3,866 406,858 Total 17,531,058 Pharmaceuticals (8.1%) Abbott Laboratories 9,767 420,469 Allergan 2,215 197,800 Bristol-Myers Squibb 71,995 1,524,134 Johnson & Johnson 68,079 4,263,108 Merck & Co 113,113 3,192,049 Pfizer 61,834 1,344,271 Total 10,941,831 Real Estate Investment Trust (0.3%) Equity Office Properties Trust 6,957 214,275 Simon Property Group 1,953 139,874 Total 354,149 Road & Rail (0.8%) Burlington Northern Santa Fe 11,727 727,777 CSX 6,339 290,390 Total 1,018,167 Semiconductors & Semiconductor Equipment (1.4%) Broadcom Cl A 4,780(b) 202,959 Intel 46,586 1,094,770 LSI Logic 11,706(b) 94,936 Natl Semiconductor 5,563 125,891 NVIDIA 11,473(b) 384,919 Total 1,903,475 Software (2.9%) Autodesk 9,357 422,281 Compuware 28,997(b) 234,586 Microsoft 69,193 1,778,261 Oracle 113,833(b) 1,443,402 Total 3,878,530 Specialty Retail (2.0%) Best Buy 6,318(c) 279,635 Home Depot 50,354 2,066,528 Office Depot 10,899(b) 300,049 Total 2,646,212 Textiles, Apparel & Luxury Goods (0.5%) Coach 6,160(b) 198,229 Nike Cl B 4,448 373,854 VF 2,562 133,865 Total 705,948 Thrifts & Mortgage Finance (3.5%) Countrywide Financial 6,048 192,145 Fannie Mae 42,942 2,040,604 Freddie Mac 16,739 1,026,938 MGIC Investment 3,110 184,236 Washington Mutual 31,267 1,238,173 Total 4,682,096 Tobacco (5.2%) Altria Group 90,752 6,810,937 UST 6,330 261,999 Total 7,072,936 See accompanying notes to investments in securities. - -------------------------------------------------------------------------------- 2 -- RIVERSOURCE DISCIPLINED EQUITY FUND -- PORTFOLIO HOLDINGS AT OCT. 31, 2005 Common Stocks (continued) Issuer Shares Value(a) Trading Companies & Distributors (0.1%) WW Grainger 2,096 $140,390 Total Common Stocks (Cost: $130,084,202) $133,362,268 Short-Term Security (1.0%) Issuer Effective Amount Value(a) yield payable at maturity Commercial Paper Charta LLC 11-01-05 4.04% $1,300,000 $1,299,854 Total Short-Term Security (Cost: $1,300,000) $1,299,854 Total Investments in Securities (Cost: $131,384,202)(d) $134,662,122 Notes to Investments in Securities (a) Securities are valued by procedures described in Note 1 to the financial statements in the most recent Annual Report dated July 31, 2005. (b) Non-income producing. (c) Partially pledged as initial margin deposit on the following open stock index futures contracts: Type of security Contracts Purchase contracts S&P 500 Index, Dec. 2005 100,000 (d) At Oct. 31, 2005, the cost of securities for federal income tax purposes was approximately $131,384,000 and the approximate aggregate gross unrealized appreciation and depreciation based on that cost was: Unrealized appreciation $ 8,009,000 Unrealized depreciation (4,731,000) ---------- Net unrealized appreciation $ 3,278,000 ----------- The Global Industry Classification Standard (GICS) was developed by and is the exclusive property of Morgan Stanley Capital International Inc. and Standard & Poor's, a division of The McGraw-Hill Companies, Inc. How to find information about the Fund's portfolio holdings (i) The Fund files its complete schedule of portfolio holdings with the Securities and Exchange Commission (Commission) for the first and third quarters of each fiscal year on Form N-Q; (ii) The Fund's Forms N-Q are available on the Commission's website at http://www.sec.gov; (iii) The Fund's Forms N-Q may be reviewed and copied at the Commission's Public Reference Room in Washington, DC (information on the operations of the Public Reference Room may be obtained by calling 1-800-SEC-0330); and (iv) The Fund's complete schedule of portfolio holdings, as disclosed in its annual and semiannual shareholder reports and in its filings on Form N-Q, can be found at www.riversource.com/funds. - -------------------------------------------------------------------------------- 3 -- RIVERSOURCE DISCIPLINED EQUITY FUND -- PORTFOLIO HOLDINGS AT OCT. 31, 2005 S-6263-80 D (12/05) AXP GROWTH FUND A FEEDER FUND INVESTING IN GROWTH PORTFOLIO PORTFOLIO HOLDINGS AT OCT. 31, 2005 Investments in Securities Growth Portfolio Oct. 31, 2005 (Unaudited) (Percentages represent value of investments compared to net assets) Common Stocks (96.6%) Issuer Shares Value(a) Aerospace & Defense (1.1%) Boeing 174,832 $11,301,140 Goodrich 72,802 2,625,968 Honeywell Intl 120,389 4,117,304 Lockheed Martin 273,766 16,579,269 Total 34,623,681 Airlines (0.2%) Continental Airlines Cl B 220,100(b) 2,850,295 US Airways Group 87,534(b) 2,160,339 Total 5,010,634 Beverages (1.5%) PepsiCo 801,397 47,346,535 Biotechnology (3.4%) Amgen 699,339(b) 52,981,922 Biogen Idec 307,226(b) 12,482,592 Genentech 318,228(b) 28,831,457 Gilead Sciences 264,710(b) 12,507,548 Total 106,803,519 Capital Markets (0.6%) Franklin Resources 168,785 14,915,531 State Street 91,370 5,046,365 Total 19,961,896 Chemicals (0.3%) Monsanto 144,615 9,112,191 Commercial Banks (0.2%) Commerce Bancorp 105,828(d) 3,224,580 ICICI Bank ADR 104,796(c) 2,478,425 Total 5,703,005 Commercial Services & Supplies (0.5%) Cendant 858,738 14,959,216 Common Stocks (continued) Issuer Shares Value(a) Communications Equipment (5.8%) Alcatel ADR 145,874(b,c) $1,712,561 CIENA 2,217,534(b) 5,255,556 Cisco Systems 1,943,854(b) 33,920,252 Nokia ADR 8,534,111(c) 143,543,747 Total 184,432,116 Computers & Peripherals (2.9%) Dell 1,276,331(b) 40,689,432 EMC 2,415,721(b) 33,723,465 Hewlett-Packard 583,494 16,361,172 Total 90,774,069 Consumer Finance (0.2%) Capital One Financial 49,677 3,792,839 First Marblehead 70,780(d) 2,094,380 Total 5,887,219 Diversified Telecommunication Services (16.3%) ALLTEL 324,733 20,087,983 Brasil Telecom Participacoes ADR 247,060(c) 10,280,167 Chunghwa Telecom ADR 346,615(c) 6,003,372 France Telecom 362,413(c) 9,421,705 Sprint Nextel 15,765,118 367,484,900 Tele Norte Leste Participacoes ADR 750,940(c) 13,291,638 Telewest Global 4,036,538(b,c) 92,073,431 Total 518,643,196 Energy Equipment & Services (1.2%) Halliburton 363,620 21,489,941 Nabors Inds 49,250(b,c) 3,380,028 Schlumberger 75,432 6,846,963 Transocean 111,200(b) 6,392,888 Total 38,109,820 Common Stocks (continued) Issuer Shares Value(a) Food & Staples Retailing (2.1%) Rite Aid 2,675,395(b) $9,363,883 Safeway 904,290 21,033,785 Wal-Mart Stores 736,646 34,850,722 Total 65,248,390 Food Products (0.9%) General Mills 133,640 6,449,466 Kellogg 501,190 22,137,563 Total 28,587,029 Health Care Equipment & Supplies (3.7%) Alcon 54,916(c) 7,298,336 Baxter Intl 1,180,000 45,111,400 Boston Scientific 1,020,075(b) 25,624,284 Guidant 486,740 30,664,620 Hospira 240,167(b) 9,570,655 Total 118,269,295 Health Care Providers & Services (6.1%) Aetna 129,761 11,491,634 AmerisourceBergen 97,019 7,399,639 Cardinal Health 753,672 47,112,037 HCA 956,488 46,093,157 HealthSouth 507,893(b) 2,072,203 Magellan Health Services 194,059(b) 5,769,374 McKesson 122,988 5,587,345 Medco Health Solutions 356,370(b) 20,134,905 UnitedHealth Group 798,302 46,213,703 Universal Health Services Cl B 64,827 3,055,945 Total 194,929,942 Hotels, Restaurants & Leisure (0.2%) McDonald's 183,091 5,785,676 Household Durables (0.5%) Harman Intl Inds 103,470 10,332,514 Sony 196,300(c) 6,340,962 Total 16,673,476 See accompanying notes to investments in securities. - -------------------------------------------------------------------------------- 1 --- RIVERSOURCE GROWTH FUND --- PORTFOLIO HOLDINGS AT OCT. 31, 2005 Common Stocks (continued) Issuer Shares Value(a) Household Products (3.8%) Procter & Gamble 1,603,670 $89,789,483 Spectrum Brands 1,491,361(b) 30,871,173 Total 120,660,656 Industrial Conglomerates (1.4%) General Electric 509,543 17,278,603 Tyco Intl 982,871(c) 25,937,966 Total 43,216,569 Insurance (2.5%) ACE 388,636(c) 20,247,936 American Intl Group 758,143 49,127,666 Chubb 35,323 3,283,979 Hartford Financial Services Group 78,853 6,288,527 Total 78,948,108 Internet & Catalog Retail (0.2%) eBay 123,320(b) 4,883,472 Internet Software & Services (3.4%) Google Cl A 287,153(b) 106,861,117 Media (10.7%) Clear Channel Communications 205,000 6,236,100 Comcast Cl A 1,485,142(b) 41,331,502 Comcast Special Cl A 178,606(b) 4,895,590 Grupo Televisa ADR 47,035(c) 3,438,259 Liberty Global 847,954(b) 20,113,469 Liberty Global Cl A 1,514,708 37,519,317 News Corp Cl A 1,288,390 18,359,558 NTL 2,252,740(b,d) 138,138,016 Time Warner 855,461 15,252,870 Viacom Cl B 378,566 11,724,189 Vivendi Universal ADR 1,357,536(c) 42,653,781 Total 339,662,651 Metals & Mining (1.7%) Agnico-Eagle Mines 141,423(c) 1,931,838 Coeur d'Alene Mines 3,304,201(b,d) 12,456,838 Glamis Gold 169,208(b,c) 3,590,594 Kinross Gold 387,782(b,c) 2,706,718 Newmont Mining 646,062 27,522,242 PAN American Silver 286,861(b,c) 4,558,221 Stillwater Mining 167,890(b) 1,695,689 Total 54,462,140 Multiline Retail (0.2%) JC Penney 89,528 4,583,833 Kohl's 63,066(b) 3,035,367 Total 7,619,200 Common Stocks (continued) Issuer Shares Value(a) Oil & Gas (4.1%) Anadarko Petroleum 173,030 $15,695,551 Burlington Resources 157,649 11,385,411 Chevron 288,200 16,447,574 ConocoPhillips 332,600 21,745,389 Devon Energy 115,201 6,955,836 Exxon Mobil 258,440 14,508,822 Kinder Morgan Management LLC --(b) 16 Marathon Oil 192,200 11,562,752 Ultra Petroleum 252,303(b) 13,243,384 Valero Energy 183,339 19,294,596 Total 130,839,331 Pharmaceuticals (7.7%) Abbott Laboratories 404,464 17,412,175 AstraZeneca 111,443(c) 4,985,158 Bristol-Myers Squibb 473,689 10,027,996 Eli Lilly & Co 57,455 2,860,684 Endo Pharmaceuticals Holdings 71,592(b) 1,927,257 GlaxoSmithKline ADR 137,394(c) 7,143,114 Johnson & Johnson 707,703(d) 44,316,362 Novartis ADR 649,378(c) 34,949,524 Pfizer 2,775,218 60,333,239 Roche Holding 185,822(c) 27,765,753 Schering-Plough 722,590 14,697,481 Wyeth 434,971 19,382,308 Total 245,801,051 Semiconductors & Semiconductor Equipment (3.8%) Applied Materials 171,674 2,812,020 ATI Technologies 219,441(b,c) 3,170,922 Freescale Semiconductor Cl A 1,371,477(b) 32,490,290 Freescale Semiconductor Cl B 302,062(b) 7,213,241 Intel 2,079,491 48,868,039 MEMC Electronic Materials 945,240(b) 16,957,606 Texas Instruments 370,833 10,587,282 Total 122,099,400 Software (3.8%) Adobe Systems 113,014 3,644,702 Compuware 627,357(b) 5,075,318 Macromedia 170,027(b) 7,467,586 Mercury Interactive 461,473(b) 16,054,646 Microsoft 2,336,393 60,045,300 Oracle 2,205,858(b) 27,970,279 Siebel Systems 3,586 37,115 Total 120,294,946 Thrifts & Mortgage Finance (0.7%) Countrywide Financial 330,677 10,505,608 Fannie Mae 190,811 9,067,339 Freddie Mac 63,554 3,899,038 Total 23,471,985 Tobacco (1.0%) Altria Group 440,690 33,073,785 Common Stocks (continued) Issuer Shares Value(a) Wireless Telecommunication Services (3.9%) KT Freetel 62,430(c) $1,344,000 LG Telecom 310,257(b,c) 1,535,631 NeuStar Cl A 1,089,839(b) 33,349,073 O2 5,270,162(c) 19,197,071 Orascom Telecom GDR 986,257(c,d) 48,375,905 Partner Communications ADR 185,417(c) 1,509,294 Telesp Celular Participacoes ADR 745,495(c) 2,721,057 Turkcell Iletisim Hizmetleri ADR 281,723(c) 3,713,109 Vodafone Group ADR 408,961(c) 10,739,316 Total 122,484,456 Total Common Stocks (Cost: $2,897,514,898) $3,065,239,772 Options Purchased (0.2%) Issuer Contracts Exercise Expiration Value(a) price date Call Sprint Nextel 9,100 $27.50 Jan. 2006 $3,367,000 Puts Mini NDX 100 Stock Index 4,790 160 Nov. 2005 1,844,150 S&P 500 Index 1,365 1,135 Dec. 2005 832,650 Total Options Purchased (Cost: $8,569,135) $6,043,800 Short-Term Securities (4.5%)(e) Issuer Effective Amount Value(a) yield payable at maturity Commercial Paper Bryant Park Funding LLC 11-21-05 4.01% $10,000,000(f) $9,976,667 CAFCO 11-01-05 4.04 31,100,000 31,096,509 CRC Funding LLC 11-01-05 4.04 12,200,000(f) 12,198,631 12-09-05 4.06 20,000,000 19,912,467 Dakota Notes 12-02-05 4.04 15,000,000(f) 14,946,266 Park Avenue Receivables 11-29-05 4.01 10,000,000(f) 9,967,778 Park Granada 11-07-05 3.84 10,000,000(f) 9,992,534 11-23-05 4.02 5,000,000(f) 4,987,190 11-29-05 4.04 30,000,000(f) 29,902,608 Total Short-Term Securities (Cost: $142,996,638) $142,980,650 Total Investments in Securities (Cost: $3,049,080,671)(g) $3,214,264,222 See accompanying notes to investments in securities. - -------------------------------------------------------------------------------- 2 --- RIVERSOURCE GROWTH FUND --- PORTFOLIO HOLDINGS AT OCT. 31, 2005 Notes to Investments in Securities (a) Securities are valued by procedures described in Note 1 to the financial statements in the most recent Annual Report dated July 31, 2005. (b) Non-income producing. (c) Foreign security values are stated in U.S. dollars. At Oct. 31, 2005, the value of foreign securities represented 17.9% of net assets. (d) At Oct. 31, 2005, security was partially or fully on loan. (e) Cash collateral received from security lending activity is invested in short-term securities and represents 0.8% of net assets. 3.7% of net assets is the Portfolio's cash equivalent position. (f) Commercial paper sold within terms of a private placement memorandum, exempt from registration under Section 4(2) of the Securities Act of 1933, as amended, and may be sold only to dealers in that program or other "accredited investors." This security has been determined to be liquid under guidelines established by the Fund's Board of Directors. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At Oct. 31, 2005, the value of these securities amounted to $91,971,674 or 2.9% of net assets. (g) At Oct. 31, 2005, the cost of securities for federal income tax purposes was approximately $3,049,081,000 and the approximate aggregate gross unrealized appreciation and depreciation based on that cost was: Unrealized appreciation $249,766,000 Unrealized depreciation (84,583,000) ----------- Net unrealized appreciation $165,183,000 ------------ The Global Industry Classification Standard (GICS) was developed by and is the exclusive property of Morgan Stanley Capital International Inc. and Standard & Poor's, a division of The McGraw-Hill Companies, Inc. How to find information about the Fund's portfolio holdings (i) The Fund files its complete schedule of portfolio holdings with the Securities and Exchange Commission (Commission) for the first and third quarters of each fiscal year on Form N-Q; (ii) The Fund's Forms N-Q are available on the Commission's website at http://www.sec.gov; (iii) The Fund's Forms N-Q may be reviewed and copied at the Commission's Public Reference Room in Washington, DC (information on the operations of the Public Reference Room may be obtained by calling 1-800-SEC-0330); and (iv) The Fund's complete schedule of portfolio holdings, as disclosed in its annual and semiannual shareholder reports and in its filings on Form N-Q, can be found at www.riversource.com/funds. - -------------------------------------------------------------------------------- 3 --- RIVERSOURCE GROWTH FUND --- PORTFOLIO HOLDINGS AT OCT. 31, 2005 S-6455-80 D (12/05) PORTFOLIO HOLDINGS FOR RIVERSOURCE LARGE CAP EQUITY FUND AT 0CT. 31, 2005 Investments in Securities RiverSource Large Cap Equity Fund Oct. 31, 2005 (Unaudited) (Percentages represent value of investments compared to net assets) Common Stocks (96.4%) Issuer Shares Value(a) Aerospace & Defense (3.0%) Boeing 121,198 $7,834,239 Empresa Brasileira de Aeronautica ADR 48,136(c) 1,867,195 General Dynamics 12,492 1,452,820 Goodrich 102,466 3,695,949 Honeywell Intl 200,765 6,866,163 Lockheed Martin 142,755 8,645,243 Northrop Grumman 79,343 4,256,752 United Technologies 150,230 7,703,794 Total 42,322,155 Airlines (0.1%) Continental Airlines Cl B 32,900(b) 426,055 US Airways Group 13,000(b) 320,840 Total 746,895 Automobiles (0.2%) Ford Motor 78,665 654,493 General Motors 41,563(e) 1,138,826 Harley-Davidson 11,902 589,506 Total 2,382,825 Beverages (1.5%) Coca-Cola 61,228 2,619,334 Coca-Cola Enterprises 8,964 169,420 PepsiCo 309,827 18,304,579 Total 21,093,333 Biotechnology (1.7%) Amgen 171,291(b) 12,977,007 Biogen Idec 103,242(b) 4,194,722 Genentech 52,604(b) 4,765,922 Gilead Sciences 55,828(b) 2,637,873 Total 24,575,524 Building Products (0.1%) American Standard Companies 16,588 631,008 Masco 44,007 1,254,199 Total 1,885,207 Common Stocks (continued) Issuer Shares Value(a) Capital Markets (2.9%) Bank of New York 127,167 $3,979,055 Franklin Resources 91,030 8,044,321 Investors Financial Services 93,795 3,581,093 Legg Mason 18,947 2,033,203 Lehman Brothers Holdings 54,546 6,527,520 Merrill Lynch & Co 53,363 3,454,721 Morgan Stanley 184,748 10,052,138 State Street 59,056 3,261,663 Total 40,933,714 Chemicals (1.0%) Dow Chemical 191,652 8,789,160 Eastman Chemical 18,068 953,268 EI du Pont de Nemours & Co 40,930 1,706,372 Lyondell Chemical 45,723 1,225,376 Monsanto 21,479 1,353,392 RPM Intl 26,830 499,575 Total 14,527,143 Commercial Banks (4.5%) Bank of America 625,077 27,340,868 Commerce Bancorp 107,342(e) 3,270,711 Hibernia Cl A 26,170 776,464 ICICI Bank ADR 23,223(c) 549,224 PNC Financial Services Group 81,128 4,925,281 US Bancorp 140,860 4,166,639 Wachovia 180,989 9,143,564 Wells Fargo & Co 232,415 13,991,383 Total 64,164,134 Commercial Services & Supplies (0.6%) Apollo Group Cl A 6,698(b) 422,108 Avery Dennison 19,911 1,127,958 Cendant 327,302 5,701,601 Waste Management 24,814 732,261 Total 7,983,928 Common Stocks (continued) Issuer Shares Value(a) Communications Equipment (2.9%) Alcatel ADR 21,666(b,c) $254,359 CIENA 329,916(b) 781,901 Cisco Systems 444,485(b) 7,756,263 Corning 106,502(b) 2,139,625 Nokia ADR 1,755,650(c) 29,530,033 Total 40,462,181 Computers & Peripherals (3.1%) Dell 364,508(b) 11,620,515 EMC 745,932(b) 10,413,211 Hewlett-Packard 376,581 10,559,331 Intl Business Machines 134,262 10,993,373 Total 43,586,430 Consumer Finance (0.9%) Capital One Financial 73,787 5,633,637 First Marblehead 80,803(e) 2,390,961 MBNA 199,046 5,089,606 Total 13,114,204 Containers & Packaging (0.1%) Temple-Inland 56,425 2,078,133 Diversified Financial Services (5.8%) Citigroup 558,781 25,580,995 Consumer Discretionary Select Sector SPDR Fund 183,688 5,846,789 Energy Select Sector SPDR Fund 202,034(e) 9,859,259 Industrial Select Sector SPDR Fund 253,673 7,541,698 iShares Dow Jones US Healthcare Sector Index Fund 1 60 JPMorgan Chase & Co 377,002 13,805,813 Materials Select Sector SPDR Trust 323,025(e) 8,912,260 Utilities Select Sector SPDR Fund 320,716(e) 10,086,518 Total 81,633,392 See accompanying notes to investments in securities. - -------------------------------------------------------------------------------- 1 --- RIVERSOURCE LARGE CAP EQUITY FUND --- PORTFOLIO HOLDINGS AT 0CT. 31, 2005 Common Stocks (continued) Issuer Shares Value(a) Diversified Telecommunication Services (8.7%) ALLTEL 73,672 $4,557,350 BellSouth 147,984 3,850,544 Brasil Telecom Participacoes ADR 48,918(c) 2,035,478 Chunghwa Telecom ADR 147,306(c) 2,551,340 Citizens Communications 38,433 470,420 France Telecom 77,098(c) 2,004,328 MCI 268,406 5,341,279 SBC Communications 440,075 10,495,789 Sprint Nextel 3,120,792 72,743,164 Tele Norte Leste Participacoes ADR 197,197(c) 3,490,387 Telewest Global 637,824(b,c) 14,548,765 Verizon Communications 70,301 2,215,185 Total 124,304,029 Electric Utilities (1.2%) Entergy 41,989 2,969,462 Exelon 109,116 5,677,305 FPL Group 19,443 837,216 PPL 53,381 1,672,961 Southern 114,840 4,018,252 TXU 9,767 984,025 Xcel Energy 48,585 890,563 Total 17,049,784 Electrical Equipment (0.1%) Emerson Electric 17,650 1,227,558 Electronic Equipment & Instruments (0.1%) Flextronics Intl 128,164(b,c) 1,190,644 Energy Equipment & Services (1.2%) Cooper Cameron 18,274(b) 1,347,342 Halliburton 116,146 6,864,228 Nabors Inds 7,315(b,c) 502,028 Schlumberger 46,804 4,248,399 Transocean 47,742(b) 2,744,688 Weatherford Intl 30,451(b) 1,906,233 Total 17,612,918 Food & Staples Retailing (1.6%) CVS 126,673 3,092,088 Rite Aid 397,365(b) 1,390,778 Safeway 138,677 3,225,627 Wal-Mart Stores 323,735 15,315,902 Total 23,024,395 Food Products (0.9%) Campbell Soup 34,799 1,012,651 General Mills 53,904 2,601,407 Kellogg 216,324 9,555,031 Total 13,169,089 Gas Utilities (0.1%) ONEOK 48,027 1,380,296 Health Care Equipment & Supplies (2.4%) Alcon 8,156(c) 1,083,932 Baxter Intl 314,370 12,018,365 Boston Scientific 262,551(b) 6,595,281 Guidant 125,655 7,916,265 Common Stocks (continued) Issuer Shares Value(a) Health Care Equipment & Supplies (cont.) Hospira 63,013(b) $2,511,068 Medtronic 60,725 3,440,679 Total 33,565,590 Health Care Providers & Services (3.4%) Aetna 32,548 2,882,451 AmerisourceBergen 14,410 1,099,051 Cardinal Health 161,153 10,073,674 Caremark Rx 13,250(b) 694,300 CIGNA 16,573 1,920,314 HCA 226,550 10,917,445 HealthSouth 217,903(b) 889,044 Magellan Health Services 28,822(b) 856,878 McKesson 18,267 829,870 Medco Health Solutions 78,849(b) 4,454,969 UnitedHealth Group 217,681 12,601,552 Universal Health Services Cl B 23,281 1,097,466 Total 48,317,014 Hotels, Restaurants & Leisure (0.4%) Carnival Unit 22,301 1,107,691 Marriott Intl Cl A 23,619 1,408,165 McDonald's 108,633 3,432,802 Total 5,948,658 Household Durables (0.2%) Fortune Brands 6,512 494,717 Harman Intl Inds 15,368 1,534,649 Sony 29,300(c) 946,460 Total 2,975,826 Household Products (2.9%) Colgate-Palmolive 92,429 4,895,040 Procter & Gamble 501,161 28,060,004 Spectrum Brands 364,677(b) 7,548,814 Total 40,503,858 Industrial Conglomerates (2.6%) General Electric 675,934 22,920,922 Tyco Intl 504,704(c) 13,319,139 Total 36,240,061 Insurance (4.2%) ACE 228,332(c) 11,896,097 AFLAC 48,691 2,326,456 American Intl Group 459,427 29,770,870 Aon 22,639 766,330 Aspen Insurance Holdings 55,567(c) 1,344,166 Chubb 62,758 5,834,611 Endurance Specialty Holdings 15,802(c) 523,994 Hartford Financial Services Group 63,832 5,090,602 Max Re Capital 35,256(c) 842,971 State Auto Financial 15,051 495,780 Total 58,891,877 Internet & Catalog Retail (0.2%) eBay 69,090(b) 2,735,964 Internet Software & Services (1.3%) Google Cl A 43,978(b) 16,365,973 Yahoo! 56,143(b) 2,075,607 Total 18,441,580 Common Stocks (continued) Issuer Shares Value(a) IT Services (0.6%) Accenture Cl A 42,675(c) $1,122,779 Affiliated Computer Services Cl A 66,678(b) 3,607,946 Automatic Data Processing 36,351 1,696,138 Cognizant Technology Solutions Cl A 8,632(b) 379,635 First Data 10,842 438,559 Infosys Technologies ADR 2,154(c) 146,472 Ness Technologies 16,741(b,c) 152,176 Paychex 22,029 853,844 Satyam Computer Services ADR 9,327(c) 318,797 Total 8,716,346 Leisure Equipment & Products (--%) Mattel 25,112 370,402 Machinery (0.5%) Caterpillar 59,018 3,103,757 Deere & Co 15,897 964,630 Illinois Tool Works 21,765 1,844,801 Ingersoll-Rand Cl A 23,446(c) 886,024 ITT Inds 8,641 877,926 Total 7,677,138 Media (7.0%) Clear Channel Communications 73,158 2,225,466 Comcast Cl A 337,647(b) 9,396,716 Comcast Special Cl A 132,617(b) 3,635,032 EchoStar Communications Cl A 31,766 853,552 Grupo Televisa ADR 6,986(c) 510,677 Liberty Global 160,915(b) 3,816,904 Liberty Global Cl A 259,945 6,438,838 Liberty Media Cl A 583,957(b) 4,654,137 News Corp Cl A 475,147 6,770,845 NTL 405,797(b) 24,883,471 Time Warner 549,125 9,790,899 Viacom Cl B 319,520 9,895,534 Vivendi Universal ADR 419,824(c) 13,190,870 Walt Disney 114,313 2,785,808 Total 98,848,749 Metals & Mining (0.7%) Agnico-Eagle Mines 21,005(c) 286,928 Alcan 36,675(c) 1,162,231 Alcoa 54,887 1,333,205 Coeur d'Alene Mines 490,758(b) 1,850,158 Glamis Gold 25,132(b,c) 533,301 Kinross Gold 57,596(b,c) 402,020 Newmont Mining 95,957 4,087,768 PAN American Silver 42,606(b,c) 677,009 Stillwater Mining 24,936(b) 251,854 Total 10,584,474 Multi-Utilities & Unregulated Power (0.4%) Dominion Resources 63,704 4,846,601 Duke Energy 39,261 1,039,631 Total 5,886,232 See accompanying notes to investments in securities. - -------------------------------------------------------------------------------- 2 --- RIVERSOURCE LARGE CAP EQUITY FUND --- PORTFOLIO HOLDINGS AT 0CT. 31, 2005 Common Stocks (continued) Issuer Shares Value(a) Multiline Retail (0.9%) Dollar General 15,211 $295,702 Federated Dept Stores 15,849 972,653 JC Penney 104,693 5,360,282 Kohl's 38,954(b) 1,874,856 Target 82,484 4,593,534 Total 13,097,027 Office Electronics (0.1%) Xerox 91,258(b) 1,238,371 Oil & Gas (7.4%) Amerada Hess 3,884 485,888 Anadarko Petroleum 97,368 8,832,251 Apache 14,069 898,024 BP ADR 69,463(c) 4,612,343 Burlington Resources 39,493 2,852,184 Chevron 282,299 16,110,804 ConocoPhillips 292,478 19,122,212 Devon Energy 74,169 4,478,324 Exxon Mobil 659,214 37,008,274 Marathon Oil 28,547 1,717,388 Newfield Exploration 36,573(b) 1,657,854 Occidental Petroleum 16,773 1,323,054 Royal Dutch Shell ADR Cl A 21,392(c) 1,327,160 Ultra Petroleum 37,473(b) 1,966,958 Valero Energy 37,950 3,993,858 Total 106,386,576 Paper & Forest Products (0.3%) Bowater 28,246 748,519 Georgia-Pacific 29,947 974,176 Intl Paper 43,713 1,275,545 Weyerhaeuser 23,960 1,517,627 Total 4,515,867 Personal Products (0.1%) Estee Lauder 26,763 887,729 Pharmaceuticals (6.1%) Abbott Laboratories 134,345 5,783,552 AstraZeneca 16,552(c) 740,417 Bristol-Myers Squibb 127,309 2,695,132 Eli Lilly & Co 57,608 2,868,302 Endo Pharmaceuticals Holdings 29,483(b) 793,682 GlaxoSmithKline ADR 44,126(c) 2,294,111 Johnson & Johnson 165,548 10,366,616 Merck & Co 76,727 2,165,236 Novartis ADR 172,289(c) 9,272,594 Pfizer 1,162,101 25,264,075 Roche Holding 56,095(c) 8,381,784 Schering-Plough 378,315 7,694,927 Wyeth 186,185 8,296,404 Total 86,616,832 Real Estate Investment Trust (0.4%) Apartment Investment & Management Cl A 16,375 628,800 Equity Office Properties Trust 51,441 1,584,383 HomeBanc 394,737 2,842,106 Total 5,055,289 Common Stocks (continued) Issuer Shares Value(a) Road & Rail (0.1%) Norfolk Southern 23,471 $943,534 Semiconductors & Semiconductor Equipment (2.6%) Analog Devices 21,649 752,952 Applied Materials 63,319 1,037,165 ATI Technologies 69,066(b,c) 998,004 Broadcom Cl A 42,497(b) 1,804,423 Credence Systems 27,209(b) 209,509 Cypress Semiconductor 74,430(b) 1,012,248 Freescale Semiconductor Cl A 259,225(b) 6,141,040 Freescale Semiconductor Cl B 99,258(b) 2,370,281 Intel 564,796 13,272,707 Linear Technology 22,169 736,232 MEMC Electronic Materials 222,001(b) 3,982,698 Texas Instruments 168,924 4,822,780 Total 37,140,039 Software (3.1%) Adobe Systems 118,209 3,812,240 Cadence Design Systems 116,447(b) 1,860,823 Check Point Software Technologies 11,906(b,c) 266,218 Compuware 154,999(b) 1,253,942 Electronic Arts 6,827(b) 388,320 Macromedia 37,473(b) 1,645,814 Mercury Interactive 97,377(b) 3,387,746 Microsoft 642,770 16,519,189 Oracle 774,448(b) 9,820,001 SAP ADR 55,734(c) 2,393,218 Siebel Systems 57,092 590,902 Symantec 55,442(b) 1,322,292 TIBCO Software 33,577(b) 254,849 Total 43,515,554 Specialty Retail (0.7%) AutoZone 2,726(b) 220,533 Bed Bath & Beyond 13,415(b) 543,576 Circuit City Stores 11,501 204,603 Gap 36,319 627,592 Home Depot 135,120 5,545,325 Lowe's Companies 32,060 1,948,286 Staples 30,964 703,812 Tiffany & Co 9,407 370,636 Total 10,164,363 Textiles, Apparel & Luxury Goods (0.1%) Nike Cl B 9,523 800,408 Thrifts & Mortgage Finance (2.2%) Countrywide Financial 360,848 11,464,141 Fannie Mae 231,083 10,981,064 Freddie Mac 118,843 7,291,018 Washington Mutual 23,186 918,166 Total 30,654,389 Tobacco (1.7%) Altria Group 316,618 23,762,181 Common Stocks (continued) Issuer Shares Value(a) Wireless Telecommunication Services (1.5%) KT Freetel 21,820(c) $469,743 LG Telecom 108,414(b,c) 536,600 NeuStar Cl A 161,869(b) 4,953,191 O2 782,754(c) 2,851,257 Orascom Telecom GDR 146,485(c) 7,185,090 Partner Communications ADR 27,539(c) 224,167 Telesp Celular Participacoes ADR 110,725(c) 404,146 Turkcell Iletisim Hizmetleri ADR 41,843(c) 551,491 Vodafone Group ADR 128,078(c) 3,363,328 Total 20,539,013 Total Common Stocks (Cost: $1,320,422,131) $1,365,468,852 Short-Term Securities (5.7%)(f) Issuer Effective Amount Value(a) yield payable at maturity Commercial Paper Bryant Park Funding LLC 11-07-05 3.87% $5,000,000(d) $4,996,238 11-21-05 4.01 5,000,000(d) 4,988,333 Charta LLC 11-01-05 4.04 21,100,000 21,097,632 Dakota Notes 12-02-05 4.04 20,000,000(d) 19,928,355 Park Avenue Receivables 11-29-05 4.01 5,000,000(d) 4,983,889 Park Granada LLC 11-10-05 3.91 20,000,000(d) 19,978,278 Sheffield Receivables 11-30-05 4.03 5,000,000 4,983,250 Total Short-Term Securities (Cost: $80,964,961) $80,955,975 Total Investments in Securities (Cost: $1,401,387,092)(g) $1,446,424,827 See accompanying notes to investments in securities. - -------------------------------------------------------------------------------- 3 --- RIVERSOURCE LARGE CAP EQUITY FUND --- PORTFOLIO HOLDINGS AT 0CT. 31, 2005 Notes to Investments in Securities (a) Securities are valued by procedures described in Note 1 to the financial statements in the most recent Annual Report dated July 31, 2005. (b) Non-income producing. (c) Foreign security values are stated in U.S. dollars. At Oct. 31, 2005, the value of foreign securities represented 10.9% of net assets. (d) Commercial paper sold within terms of a private placement memorandum, exempt from registration under Section 4(2) of the Securities Act of 1933, as amended, and may be sold only to dealers in that program or other "accredited investors." This security has been determined to be liquid under guidelines established by the Fund's Board of Directors. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At Oct. 31, 2005, the value of these securities amounted to $54,875,093 or 3.9% of net assets. (e) At Oct. 31, 2005, security was partially or fully on loan. (f) Cash collateral received from security lending activity is invested in short-term securities and represents 2.4% of net assets. 3.3% of net assets is the Fund's cash equivalent position. (g) At Oct. 31, 2005, the cost of securities for federal income tax purposes was approximately $1,401,387,000 and the approximate aggregate gross unrealized appreciation and depreciation based on that cost was: Unrealized appreciation $ 90,985,000 Unrealized depreciation (45,947,000) ----------- Net unrealized appreciation $ 45,038,000 ------------ The Global Industry Classification Standard (GICS) was developed by and is the exclusive property of Morgan Stanley Capital International Inc. and Standard & Poor's, a division of The McGraw-Hill Companies, Inc. How to find information about the Fund's portfolio holdings (i) The Fund files its complete schedule of portfolio holdings with the Securities and Exchange Commission (Commission) for the first and third quarters of each fiscal year on Form N-Q; (ii) The Fund's Forms N-Q are available on the Commission's website at http://www.sec.gov; (iii) The Fund's Forms N-Q may be reviewed and copied at the Commission's Public Reference Room in Washington, DC (information on the operations of the Public Reference Room may be obtained by calling 1-800-SEC-0330); and (iv) The Fund's complete schedule of portfolio holdings, as disclosed in its annual and semiannual shareholder reports and in its filings on Form N-Q, can be found at www.riversource.com/funds. - -------------------------------------------------------------------------------- 4 --- RIVERSOURCE LARGE CAP EQUITY FUND --- PORTFOLIO HOLDINGS AT 0CT. 31, 2005 S-6244-80 D (12/05) PORTFOLIO HOLDINGS FOR RIVERSOURCE LARGE CAP VALUE FUND AT OCT. 31, 2005 Investments in Securities RiverSource Large Cap Value Fund Oct. 31, 2005 (Unaudited) (Percentages represent value of investments compared to net assets) Common Stocks (96.6%) Issuer Shares Value(a) Aerospace & Defense (4.2%) Boeing 8,803 $569,026 Empresa Brasileira de Aeronautica ADR 8,975(c) 348,140 General Dynamics 3,652 424,728 Goodrich 12,242 441,569 Honeywell Intl 27,084 926,273 Lockheed Martin 15,200 920,512 Northrop Grumman 23,195 1,244,411 United Technologies 18,413 944,219 Total 5,818,878 Automobiles (0.1%) General Motors 5,137 140,754 Beverages (1.3%) Coca-Cola 8,433 360,764 Coca-Cola Enterprises 2,618 49,480 PepsiCo 24,508 1,447,933 Total 1,858,177 Biotechnology (0.1%) Biogen Idec 4,118(b) 167,314 Building Products (0.4%) American Standard Companies 4,849 184,456 Masco 12,865 366,652 Total 551,108 Capital Markets (5.1%) Bank of New York 30,826 964,546 Franklin Resources 6,937 613,023 Investors Financial Services 14,948 570,715 Legg Mason 3,231 346,719 Lehman Brothers Holdings 9,397 1,124,539 Merrill Lynch & Co 15,600 1,009,944 Morgan Stanley 33,338 1,813,920 State Street 10,002 552,410 Total 6,995,816 Common Stocks (continued) Issuer Shares Value(a) Chemicals (2.0%) Dow Chemical 44,322 $2,032,607 Eastman Chemical 5,282 278,678 Lyondell Chemical 13,366 358,209 RPM Intl 7,843 146,037 Total 2,815,531 Commercial Banks (8.0%) Bank of America 111,764 4,888,557 Commerce Bancorp 7,770 236,752 PNC Financial Services Group 14,177 860,686 US Bancorp 41,178 1,218,045 Wachovia 30,280 1,529,746 Wells Fargo & Co 38,903 2,341,961 Total 11,075,747 Commercial Services & Supplies (0.6%) Avery Dennison 5,821 329,760 Cendant 26,093 454,540 Total 784,300 Communications Equipment (1.3%) Cisco Systems 29,335(b) 511,896 Corning 7,321(b) 147,079 Nokia ADR 67,113(c) 1,128,840 Total 1,787,815 Computers & Peripherals (2.8%) Dell 16,862(b) 537,561 EMC 44,657(b) 623,412 Hewlett-Packard 50,106 1,404,972 Intl Business Machines 16,806 1,376,075 Total 3,942,020 Consumer Finance (1.2%) Capital One Financial 8,383 640,042 First Marblehead 3,912 115,756 MBNA 33,248 850,151 Total 1,605,949 Common Stocks (continued) Issuer Shares Value(a) Containers & Packaging (0.4%) Temple-Inland 16,495 $607,511 Diversified Financial Services (5.5%) Citigroup 106,283 4,865,636 JPMorgan Chase & Co 76,450 2,799,599 Total 7,665,235 Diversified Telecommunication Services (5.8%) ALLTEL 3,677 227,459 BellSouth 43,261 1,125,651 Chunghwa Telecom ADR 27,474(c) 475,850 Citizens Communications 11,235 137,516 MCI 78,463 1,561,414 SBC Communications 88,925 2,120,861 Sprint Nextel 68,357 1,593,402 Tele Norte Leste Participacoes ADR 4,867(c) 86,146 Telewest Global 10,023(b,c) 228,625 Verizon Communications 15,434 486,325 Total 8,043,249 Electric Utilities (2.9%) Entergy 12,275 868,088 Exelon 23,891 1,243,048 FPL Group 5,684 244,753 PPL 15,605 489,061 Southern 24,427 854,701 Xcel Energy 14,203 260,341 Total 3,959,992 Electronic Equipment & Instruments (0.2%) Flextronics Intl 24,921(b,c) 231,516 Energy Equipment & Services (1.8%) Cooper Cameron 5,342(b) 393,866 Halliburton 11,982 708,135 Schlumberger 3,102 281,569 Transocean 9,128(b) 524,769 Weatherford Intl 8,902(b) 557,265 Total 2,465,604 See accompanying notes to investments in securities. - -------------------------------------------------------------------------------- 1 --- RIVERSOURCE LARGE CAP VALUE FUND --- PORTFOLIO HOLDINGS AT OCT. 31, 2005 Common Stocks (continued) Issuer Shares Value(a) Food & Staples Retailing (0.9%) CVS 11,907 $290,650 Wal-Mart Stores 20,547 972,078 Total 1,262,728 Food Products (0.9%) Campbell Soup 4,699 136,741 General Mills 9,955 480,428 Kellogg 13,691 604,732 Total 1,221,901 Gas Utilities (0.3%) ONEOK 14,040 403,510 Health Care Equipment & Supplies (1.4%) Baxter Intl 18,574 710,084 Boston Scientific 13,052(b) 327,866 Guidant 9,478 597,114 Hospira 7,993(b) 318,521 Total 1,953,585 Health Care Providers & Services (1.3%) Cardinal Health 6,609 413,129 CIGNA 4,845 561,390 HCA 15,232 734,029 Medco Health Solutions 2,005(b) 113,283 Total 1,821,831 Hotels, Restaurants & Leisure (0.4%) McDonald's 16,971 536,284 Household Products (2.0%) Colgate-Palmolive 8,082 428,023 Procter & Gamble 28,836 1,614,527 Spectrum Brands 31,761(b) 657,453 Total 2,700,003 Industrial Conglomerates (2.2%) General Electric 43,020 1,458,808 Tyco Intl 58,492(c) 1,543,604 Total 3,002,412 Insurance (5.5%) ACE 35,896(c) 1,870,182 AFLAC 3,631 173,489 American Intl Group 52,984 3,433,363 Aspen Insurance Holdings 5,964(c) 144,269 Chubb 12,458 1,158,220 Endurance Specialty Holdings 4,619(c) 153,166 Hartford Financial Services Group 8,781 700,285 Total 7,632,974 Internet Software & Services (0.1%) Google Cl A 388(b) 144,390 IT Services (0.8%) Accenture Cl A 9,283(c) 244,236 Affiliated Computer Services Cl A 15,477(b) 837,460 Total 1,081,696 Leisure Equipment & Products (0.1%) Mattel 7,341 108,280 Common Stocks (continued) Issuer Shares Value(a) Machinery (1.1%) Caterpillar 9,115 $479,357 Deere & Co 4,647 281,980 Illinois Tool Works 3,030 256,823 Ingersoll-Rand Cl A 6,854(c) 259,013 ITT Inds 2,526 256,642 Total 1,533,815 Media (6.2%) Clear Channel Communications 4,440 135,065 Comcast Cl A 21,660(b) 602,798 Comcast Special Cl A 30,164(b) 826,795 EchoStar Communications Cl A 9,286 249,515 Liberty Global 10,224(b) 242,513 Liberty Global Cl A 10,224 253,248 Liberty Media Cl A 138,558(b) 1,104,307 News Corp Cl A 21,857 311,462 NTL 20,798(b) 1,275,334 Time Warner 51,617 920,331 Viacom Cl B 43,590 1,349,983 Vivendi Universal ADR 14,276(c) 448,552 Walt Disney 33,417 814,372 Total 8,534,275 Metals & Mining (0.3%) Alcan 10,721(c) 339,748 Alcoa 5,344 129,806 Total 469,554 Multi-Utilities & Unregulated Power (0.8%) Dominion Resources 14,467 1,100,649 Multiline Retail (0.8%) Federated Dept Stores 4,633 284,327 JC Penney 7,153 366,234 Target 7,850 437,166 Total 1,087,727 Office Electronics (0.1%) Xerox 10,440(b) 141,671 Oil & Gas (12.1%) Amerada Hess 1,129 141,238 Anadarko Petroleum 20,951 1,900,465 BP ADR 20,306(c) 1,348,318 Chevron 44,172 2,520,896 ConocoPhillips 54,148 3,540,197 Devon Energy 10,961 661,825 Exxon Mobil 102,593 5,759,572 Newfield Exploration 10,691(b) 484,623 Royal Dutch Shell ADR Cl A 6,254(c) 387,998 Total 16,745,132 Paper & Forest Products (1.0%) Bowater 8,232 218,148 Georgia-Pacific 8,755 284,800 Intl Paper 12,779 372,891 Weyerhaeuser 7,004 443,634 Total 1,319,473 Personal Products (--%) Estee Lauder Companies Cl A 2,025 67,169 Common Stocks (continued) Issuer Shares Value(a) Pharmaceuticals (4.1%) Bristol-Myers Squibb 16,650 $352,481 GlaxoSmithKline ADR 6,934(c) 360,499 Johnson & Johnson 3,070 192,243 Merck & Co 22,430 632,975 Novartis ADR 10,476(c) 563,818 Pfizer 110,662 2,405,791 Schering-Plough 34,106 693,716 Wyeth 11,418 508,786 Total 5,710,309 Real Estate Investment Trust (0.5%) Apartment Investment & Management Cl A 4,787 183,821 Equity Office Properties Trust 15,038 463,170 HomeBanc 15,340 110,448 Total 757,439 Semiconductors & Semiconductor Equipment (1.7%) ATI Technologies 10,662(b,c) 154,066 Broadcom Cl A 6,185(b) 262,615 Credence Systems 7,954(b) 61,246 Cypress Semiconductor 21,758(b) 295,909 Freescale Semiconductor Cl A 10,225(b) 242,230 Freescale Semiconductor Cl B 3,356(b) 80,141 Intel 24,314 571,379 MEMC Electronic Materials 23,804(b) 427,044 Texas Instruments 8,628 246,329 Total 2,340,959 Software (1.9%) Cadence Design Systems 34,041(b) 543,975 Compuware 18,072(b) 146,202 Microsoft 37,026 951,568 Oracle 55,045(b) 697,971 Siebel Systems 16,534 171,127 TIBCO Software 9,815(b) 74,496 Total 2,585,339 Specialty Retail (0.5%) Gap 10,617 183,462 Home Depot 12,785 524,696 Total 708,158 Thrifts & Mortgage Finance (3.2%) Countrywide Financial 47,807 1,518,828 Fannie Mae 35,584 1,690,952 Freddie Mac 16,031 983,502 Washington Mutual 6,778 268,409 Total 4,461,691 Tobacco (2.3%) Altria Group 43,033 3,229,627 Wireless Telecommunication Services (0.4%) Vodafone Group ADR 19,603(c) 514,775 Total Common Stocks (Cost: $125,405,590) $133,693,872 See accompanying notes to investments in securities. - -------------------------------------------------------------------------------- 2 --- RIVERSOURCE LARGE CAP VALUE FUND --- PORTFOLIO HOLDINGS AT OCT. 31, 2005 Short-Term Securities (3.3%) Issuer Effective Amount Value(a) yield payable at maturity Commercial Paper Deutsche Bank 11-01-05 4.04% $2,800,000 $2,799,686 Preferred Receivables Funding 11-30-05 4.03 1,800,000(d) 1,793,970 Total Short-Term Securities (Cost: $4,594,171) $4,593,656 Total Investments in Securities (Cost: $129,999,761)(e) $138,287,528 Notes to Investments in Securities (a) Securities are valued by procedures described in Note 1 to the financial statements in the most recent Annual Report dated July 31, 2005. (b) Non-income producing. (c) Foreign security values are stated in U.S. dollars. At Oct. 31, 2005, the value of foreign securities represented 7.8% of net assets. (d) Commercial paper sold within terms of a private placement memorandum, exempt from registration under Section 4(2) of the Securities Act of 1933, as amended, and may be sold only to dealers in that program or other "accredited investors." This security has been determined to be liquid under guidelines established by the Fund's Board of Directors. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At Oct. 31, 2005, the value of these securities amounted to $1,793,970 or 1.3% of net assets. (e) At Oct. 31, 2005, the cost of securities for federal income tax purposes was approximately $130,000,000 and the approximate aggregate gross unrealized appreciation and depreciation based on that cost was: Unrealized appreciation $12,983,000 Unrealized depreciation (4,695,000) ---------- Net unrealized appreciation $ 8,288,000 ----------- The Global Industry Classification Standard (GICS) was developed by and is the exclusive property of Morgan Stanley Capital International Inc. and Standard & Poor's, a division of The McGraw-Hill Companies, Inc. How to find information about the Fund's portfolio holdings (i) The Fund files its complete schedule of portfolio holdings with the Securities and Exchange Commission (Commission) for the first and third quarters of each fiscal year on Form N-Q; (ii) The Fund's Forms N-Q are available on the Commission's website at http://www.sec.gov; (iii) The Fund's Forms N-Q may be reviewed and copied at the Commission's Public Reference Room in Washington, DC (information on the operations of the Public Reference Room may be obtained by calling 1-800-SEC-0330); and (iv) The Fund's complete schedule of portfolio holdings, as disclosed in its annual and semiannual shareholder reports and in its filings on Form N-Q, can be found at www.riversource.com/funds. - -------------------------------------------------------------------------------- 3 --- RIVERSOURCE LARGE CAP VALUE FUND --- PORTFOLIO HOLDINGS AT OCT. 31, 2005 S-6246-80 D (12/05) Item 2. Control and Procedures. (a) Based upon their evaluation of the registrant's disclosure controls and procedures as conducted within 90 days of the filing date of this report, the registrant's principal financial officer and principal executive officer have concluded that those disclosure controls and procedures provide reasonable assurance that the material information required to be disclosed by the registrant on this report is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission's rules and forms. (b) There were no changes in the registrant's internal control over financial reporting that occurred during the registrant's last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting. Item 3. Exhibits. Separate certification for the Registrant's principal executive officer and principal financial officer as required by Rule 30a-2(a) under the Investment Company Act of 1940. 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. (Registrant) AXP GROWTH SERIES, INC. By /s/ Paula R. Meyer ------------------ Paula R. Meyer President and Principal Executive Officer Date December 23, 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/ Paula R. Meyer ------------------ Paula R. Meyer President and Principal Executive Officer Date December 23, 2005 By /s/ Jeffrey P. Fox ------------------ Jeffrey P. Fox Treasurer and Principal Financial Officer Date December 23, 2005 EX-99.CERT 2 ex99-cert.txt CERTIFICATION PURSUANT TO 270.30A-2 OF THE INVESTMENT COMPANY ACT OF 1940 Certification Pursuant to 270.30a-2 of the Investment Company Act of 1940 I, Paula Meyer, certify that: 1. I have reviewed this report on Form N-Q of AXP Growth Series, Inc.; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; 3. Based on my knowledge, the schedule of investments included in this report, fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed; 4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have: a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principals; c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures as of a date within 90 days prior to the filing date of this report based on such evaluation and d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and 5. The registrant's other certifying officer and I have disclosed, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions): a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. Date: December 16, 2005 /s/ Paula R. Meyer -------------------------------- Name: Paula R. Meyer Title: President and Chief Executive Officer Certification Pursuant to 270.30a-2 of the Investment Company Act of 1940 I, Jeffrey Fox, certify that: 1. I have reviewed this report on Form N-Q of AXP Growth Series, Inc.; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; 3. Based on my knowledge, the schedule of investments included in this report, fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed; 4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have: a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principals; c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures as of a date within 90 days prior to the filing date of this report based on such evaluation and d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and 5. The registrant's other certifying officer and I have disclosed, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions): a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. Date: December 16, 2005 /s/ Jeffrey P. Fox -------------------------------- Name: Jeffrey P. Fox Title: Treasurer and Chief Financial Officer -----END PRIVACY-ENHANCED MESSAGE-----