N-Q

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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
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)
Luke E. Sims, President
NAIC Growth Fund, Inc.
711 W. 13 Mile Road
Madison Heights, MI 48071
(414) 765-1107
(Name and address of agent for service)
Registrant’s telephone number, including area code:
(414) 765-1107
Date of fiscal year end: December 31, 2007
Date of reporting period: September 30, 2007

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ITEM 1.        SCHEDULE OF INVESTMENTS

NAIC Growth Fund, Inc.
Portfolio of Investments (as of September 30, 2007) (unaudited)

COMMMON STOCK (93.3% OF TOTAL INVESTMENTS)

	Shares		Cost		Market Value			% Total Inv.
FOOD/BEVERAGE/CONSUMER
Colgate-Palmolive Co.		16,000	$	469,850	$	1,141,120
PepsiCo, Inc.		17,000		433,218		1,245,420
					$	2,386,540			(8.7%)
DRUG/MEDICAL DEVICE
Abbott Laboratories		20,000		860,150	$	1,072,400
Johnson & Johnson		20,000		915,045		1,314,000
Medtronic Inc.		17,000		850,214		958,970
Pfizer Inc.		28,000		606,755		684,040
Stryker Corp.		22,000		180,012		1,512,720
Zimmer Holdings Inc.*		1,000		81,859		80,990
					$	5,623,120			(20.5%)
BANK/FINANCIAL/INSURANCE
AFLAC Inc.		20,000		143,906	$	1,140,800
CIT Group Inc.		10,000		392,785		402,000
Citigroup Inc.		22,000		368,636		1,026,740
Huntington Banc.		25,000		238,023		424,500
Jack Henry & Assoc.		34,000		626,877		879,240
JP Morgan Chase & Co		15,000		396,347		687,300
Marshall & Ilsley Corp.		5,000		211,025		218,850
State Street Corp.		16,000		436,700		1,090,560
Synovus Financial Corp.		27,000		317,651		757,350
U. S. Bancorp		15,000		465,675		487,950
Washington Mutual Inc.		15,000		609,130		529,650
					$	7,644,940			(27.9%)
MUTUAL FUND MANAGERS
Eaton Vance Corp.		14,000		549,007	$	559,440
					$	559,440			(2.0%)
INDUSTRIAL
Avery Dennison Corp.		12,000		666,064	$	684,240
Emerson Electric Co.		20,000		335,278		1,064,400
General Electric Co.		24,000		441,341		993,600
Graco Inc.		25,000		987,169		977,750
Sigma-Aldrich Corp.		14,000		213,318		682,360
Teleflex Inc.		16,000		545,608		1,246,720
					$	5,649,070			(20.6%)
RETAIL/DISTRIBUTION
The Home Depot, Inc.		36,500		1,432,696	$	1,184,060
Lowe’s Companies Inc.		15,000		470,213		420,300
O’Reilly Automotive*		30,000		189,637		1,002,300
Sysco Corp.		32,000		507,179		1,138,880
					$	3,745,540			(13.6%)
TOTAL COMMON STOCK INVESTMENTS			$	14,941,366	$	25,608,650
SHORT-TERM INVESTMENTS (6.7% OF TOTAL INVESTMENTS)
U.S. Treasury bills					$	990,990
(maturing 12/27/2007)
Miscellaneous cash-equivalents						844,908
TOTAL SHORT-TERM INVESTMENTS					$	1,835,898
TOTAL INVESTMENTS					$	27,444,548
ALL OTHER NET ASSETS (LIABILITIES)						(89,372	)
TOTAL NET ASSETS					$	27,355,176

*=Non-dividend paying security

footnote:

The following information is based upon federal income tax cost of portfolio investments as of September 30, 2007:

Gross unrealized appreciation	$	11,055,600
Gross unrealized depreciation		(388,316	)
Net unrealized appreciation	$	10,667,284
Federal income tax basis	$	14,941,366

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ITEM 2. CONTROLS AND PROCEDURES.
(i)  As of October 3, 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 under the supervision and with the participation of the registrant’s President (who is the principal executive officer and the principal financial officer of the registrant). Based on that evaluation, the registrant’s President concluded that the registrant’s controls and procedures are effectively designed to ensure that information required to be disclosed by the registrant has been recorded, processed, summarized and reported within the time periods required by the Commission’s rules and forms, and that information required to be disclosed by the registrant has been accumulated and communicated to the registrant’s management, including its principal executive officer and principal financial officer, or persons performing similar functions 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 internal control over financial reporting.
ITEM 3. EXHIBITS
99.1	Certification of principal executive officer and principal  financial officer as required by Rule 30a-2(a) under the Act.

Page 3

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 behalf by the undersigned, thereunto duly authorized.
NAIC GROWTH FUND, INC.
By:	/s/ Luke E. Sims
	Luke E. Sims
	President
Date: October 3, 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 person on behalf of the registrant and in the capacities and on the date indicated.

By	/s/ Luke E. Sims
	Luke E. Sims
	President (Principal Executive Officer and Principal Financial Officer)

Date: October 3, 2007

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EX-99.CERT

EXHIBIT 99.1

CERTIFICATION

I, Luke E. Sims, certify that:

1.I have reviewed this report on Form N-Q of NAIC Growth Fund, 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 statement made, in light of the circumstances under which statements were made, not misleading with respect to the period covered by this report;

3.Based on my knowledge, the schedules 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.I am 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 my supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to me 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 my 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 principles;
(c)	Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report my 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.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:  October 3, 2007

/s/ Luke E. Sims   

Luke E. Sims

President (principal executive officer and principal financial officer)

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