N-Q 1 nq3312007.txt FORM N-Q 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 ------------------------------------------------------------- Investment Company Act file number: 811-05807 ------------------------------------------------------------- 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) ------------------------------------------------------------- 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) ------------------------------------------------------------- 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 ------ --------------- 8.2% $2,196,503 Total Investments $26,889,993 (0.2) All other assets less liabilities (51,775) ------ --------------- 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) ------------ Net Unrealized Appreciation $11,991,278 ------------ 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 ---------------------- 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 ---------------------- Kenneth S. Janke President (Principal Executive Officer) Date: April 27, 2007 By: /s/ Calvin George --------------------- Calvin George Accountant (Principal Financial Officer) Date: April 27, 2007