UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF

REGISTERED MANAGEMENT INVESTMENT COMPANY

Investment Company Act file Number 811-02278

The Value Line Premier Growth Fund, Inc.

(Exact name of registrant as specified in charter)

220 East 42nd Street, New York, NY 10017

Mitchell E. Appel

(Name and address of agent for service)

Registrant’s telephone number, including area code:  212-907-1500

Date of fiscal year end: December 31

Date of reporting period: September 30, 2010

Item 1: Schedule of Investments.

A copy of Schedule of Investments for the period ended 9/30/10 is included with this Form.

Value Line Premier Growth Fund, Inc.
Schedule of Investments (unaudited)	September 30, 2010

Shares			Value
COMMON STOCKS  (94.3%)
		CONSUMER DISCRETIONARY (10.1%)
	8,400	AutoZone, Inc.  *	$	1,922,844
	32,000	BorgWarner, Inc.  *		1,683,840
	10,500	Buckle, Inc. (The)		278,670
	5,000	Chipotle Mexican Grill, Inc.  *		860,000
	39,200	Ctrip.com International Ltd. ADR *		1,871,800
	16,000	Deckers Outdoor Corp.  *		799,360
	11,400	DeVry, Inc.		560,994
	17,000	DIRECTV Class A *		707,710
	16,000	Genuine Parts Co.		713,440
	7,000	Gildan Activewear, Inc.  *		196,630
	10,000	Guess?, Inc.		406,300
	8,000	hhgregg, Inc.  *		198,080
	29,000	HSN, Inc.  *		867,100
	15,500	ITT Educational Services, Inc.  *		1,089,185
	3,000	Jo-Ann Stores, Inc.  *		133,650
	27,000	Johnson Controls, Inc.		823,500
	5,000	Lincoln Educational Services Corp.  *		72,050
	56,000	LKQ Corp.  *		1,164,800
	4,000	Monro Muffler Brake, Inc.		184,440
	18,000	O’Reilly Automotive, Inc.  *		957,600
	30,000	Phillips-Van Heusen Corp.		1,804,800
	6,000	Priceline.com, Inc.  *		2,090,040
	36,000	Shaw Communications, Inc. Class B		792,360
	27,000	Signet Jewelers Ltd.  *		856,980
	6,700	Strayer Education, Inc.		1,169,150
	34,300	TJX Companies, Inc. (The)		1,530,809
	22,000	TRW Automotive Holdings Corp.  *		914,320
	6,000	Ulta Salon, Cosmetics & Fragrance, Inc.  *		175,200
	21,000	Vitamin Shoppe, Inc.  *		576,450
	26,500	Warnaco Group, Inc. (The)  *		1,354,945
	29,000	WMS Industries, Inc.  *		1,104,030
	34,000	Yum! Brands, Inc.		1,566,040
				29,427,117
		CONSUMER STAPLES (6.0%)
	68,000	BRF - Brasil Foods S.A. ADR		1,056,040
	17,000	British American Tobacco PLC ADR		1,270,070
	24,200	Church & Dwight Co., Inc.		1,571,548
	16,800	Coca-Cola Femsa, S.A.B. de C.V. ADR		1,314,096
	26,000	Companhia de Bebidas das Americas ADR		3,218,280
	94,000	Cosan Ltd. Class A		1,089,460
	13,000	Energizer Holdings, Inc.  *		873,990
	26,250	Flowers Foods, Inc.		652,050
	20,000	Fomento Economico Mexicano S.A.B. de C.V. ADR		1,014,600
	74,000	Green Mountain Coffee Roasters, Inc.  *		2,308,060
	20,000	Hormel Foods Corp.		892,000
	32,000	Ruddick Corp.		1,109,760
	13,000	TreeHouse Foods, Inc.  *		599,300
	9,000	Whole Foods Market, Inc.  *		333,990
				17,303,244
		ENERGY (5.6%)
	8,600	CNOOC Ltd. ADR		1,670,980
	19,000	Concho Resources, Inc.  *		1,257,230
	21,000	Core Laboratories N.V.		1,848,840
	44,000	FMC Technologies, Inc.  *		3,004,760
	24,000	Penn Virginia Corp.		384,960
Shares			Value
	64,000	Petroleo Brasileiro S.A. ADR	$	2,321,280
	18,000	SM Energy Co.		674,280
	33,600	Southern Union Co.		808,416
	70,000	Southwestern Energy Co.  *		2,340,800
	26,000	TransCanada Corp.		965,120
	33,000	World Fuel Services Corp.		858,330
				16,134,996
		FINANCIALS (10.4%)
	12,000	Affiliated Managers Group, Inc.  *		936,120
	20,600	AFLAC, Inc.		1,065,226
	15,000	Arch Capital Group Ltd.  *		1,257,000
	9,490	AvalonBay Communities, Inc.		986,296
	5,500	Banco Santander Chile S.A. ADR		531,025
	35,000	Bancolombia S.A. ADR		2,297,050
	16,000	Bank of Hawaii Corp.		718,720
	13,300	Bank of Montreal		768,075
	22,100	Bank of Nova Scotia		1,177,930
	10,700	BlackRock, Inc.		1,821,675
	16,000	BRE Properties, Inc.		664,000
	8,200	Canadian Imperial Bank of Commerce		594,008
	12,000	Credicorp Ltd.		1,366,800
	16,000	DuPont Fabros Technology, Inc.		402,400
	19,000	Eaton Vance Corp.		551,760
	9,400	Essex Property Trust, Inc.		1,028,736
	9,000	Franklin Resources, Inc.		962,100
	6,200	Goldman Sachs Group, Inc. (The)		896,396
	16,300	HDFC Bank Ltd. ADR		3,005,231
	16,000	ICICI Bank Ltd. ADR		797,600
	111,376	Itau Unibanco Banco Multiplo S.A. ADR		2,693,071
	30,000	MSCI, Inc. Class A *		996,300
	9,000	Portfolio Recovery Associates, Inc.  *		581,850
	12,000	Stifel Financial Corp.  *		555,480
	24,000	T. Rowe Price Group, Inc.		1,201,560
	8,000	Taubman Centers, Inc.		356,880
	6,000	Torchmark Corp.		318,840
	7,400	Toronto-Dominion Bank (The)		534,724
	20,000	U.S. Bancorp		432,400
	30,000	Wells Fargo & Co.		753,900
				30,253,153
		HEALTH CARE (14.1%)
	24,000	Acorda Therapeutics, Inc.  *		792,480
	56,000	Alexion Pharmaceuticals, Inc.  *		3,604,160
	17,200	Allergan, Inc.		1,144,316
	21,000	Auxilium Pharmaceuticals, Inc.  *		520,380
	16,000	Bayer AG ADR		1,114,720
	14,500	Becton, Dickinson & Co.		1,074,450
	10,000	Bio-Rad Laboratories, Inc. Class A *		905,100
	14,800	Bio-Reference Laboratories, Inc.  *		308,728
	11,000	Cerner Corp.  *		923,890
	6,000	Computer Programs & Systems, Inc.		255,420
	4,000	DENTSPLY International, Inc.		127,880
	26,000	Edwards Lifesciences Corp.  *		1,743,300
	18,000	Emergency Medical Services Corp. Class A *		958,500
	60,000	Express Scripts, Inc.  *		2,922,000
	20,900	Fresenius Medical Care AG & Co. KGaA ADR		1,290,366
	12,600	Haemonetics Corp.  *		737,478
	56,000	Henry Schein, Inc.  *		3,280,480

1

Value Line Premier Growth Fund, Inc.

September 30, 2010

Shares			Value
	18,000	HMS Holdings Corp.  *	$	1,060,920
	24,000	IDEXX Laboratories, Inc.  *		1,481,280
	51,200	Illumina, Inc.  *		2,519,040
	32,000	Impax Laboratories, Inc.  *		633,600
	7,000	Intuitive Surgical, Inc.  *		1,986,180
	8,000	Life Technologies Corp.  *		373,520
	4,000	MAKO Surgical Corp.  *		38,320
	7,000	Masimo Corp.		191,170
	8,400	Mettler-Toledo International, Inc.  *		1,045,296
	17,800	Novo Nordisk A/S ADR		1,752,232
	3,000	NuVasive, Inc.  *		105,420
	28,500	Owens & Minor, Inc.		811,110
	32,000	Perrigo Co.		2,055,040
	4,800	Quality Systems, Inc.		318,288
	20,000	ResMed, Inc.  *		656,200
	4,000	Sirona Dental Systems, Inc.  *		144,160
	28,000	SXC Health Solutions Corp.  *		1,021,160
	8,000	Techne Corp.		493,840
	23,000	Teva Pharmaceutical Industries Ltd. ADR		1,213,250
	22,000	Volcano Corp.  *		571,560
	30,000	Warner Chilcott PLC Class A		673,200
				40,848,434
		INDUSTRIALS (20.5%)
	85,000	ABB Ltd. ADR *		1,795,200
	24,300	Acuity Brands, Inc.		1,075,032
	33,000	AMETEK, Inc.		1,576,410
	20,600	AZZ, Inc.		882,504
	36,000	BE Aerospace, Inc.  *		1,091,160
	28,400	Bucyrus International, Inc.		1,969,540
	30,000	C.H. Robinson Worldwide, Inc.		2,097,600
	22,900	Canadian National Railway Co.		1,466,058
	34,000	CLARCOR, Inc.		1,313,420
	27,000	Copart, Inc.  *		890,190
	13,000	Corrections Corp. of America  *		320,840
	23,300	Curtiss-Wright Corp.		705,990
	32,000	Danaher Corp.		1,299,520
	20,600	DigitalGlobe, Inc.  *		626,240
	16,000	Dollar Thrifty Automotive Group, Inc.  *		802,240
	19,000	Donaldson Co., Inc.		895,470
	12,600	Eaton Corp.		1,039,374
	41,000	EnerSys  *		1,023,770
	20,000	Esterline Technologies Corp.  *		1,144,600
	18,000	Flowserve Corp.		1,969,560
	23,200	Gardner Denver, Inc.		1,245,376
	36,000	Geo Group, Inc. (The)  *		840,600
	6,000	GeoEye, Inc.  *		242,880
	10,000	Harbin Electric, Inc.  *		178,900
	33,000	Hunt (J.B.) Transport Services, Inc.		1,145,100
	29,850	IDEX Corp.		1,059,973
	22,600	IHS, Inc. Class A  *		1,536,800
	21,000	Kansas City Southern  *		785,610
	21,000	Kaydon Corp.		726,600
	21,000	Kirby Corp.  *		841,260
	88,500	Lan Airlines S.A. ADR		2,605,440
	31,500	Lennox International, Inc.		1,313,235
	13,000	Lincoln Electric Holdings, Inc.		751,660
	11,000	Navistar International Corp.  *		480,040
	20,000	Norfolk Southern Corp.		1,190,200
	20,000	Polypore International, Inc.  *		603,200
	17,800	Precision Castparts Corp.		2,266,830
Shares			Value
	36,000	Quanta Services, Inc.  *	$	686,880
	6,000	Regal-Beloit Corp.		352,140
	37,500	Republic Services, Inc.		1,143,375
	36,000	Rollins, Inc.		841,680
	26,000	Roper Industries, Inc.		1,694,680
	48,700	Rush Enterprises, Inc. Class A *		747,058
	36,600	Stericycle, Inc.  *		2,542,968
	20,800	Textainer Group Holdings Ltd.		556,192
	33,000	Toro Co. (The)		1,855,590
	12,300	Towers Watson & Co. Class A		604,914
	17,000	TransDigm Group, Inc.		1,054,850
	17,000	United Technologies Corp.		1,210,910
	27,369	URS Corp.  *		1,039,475
	4,700	Valmont Industries, Inc.		340,280
	7,600	W.W. Grainger, Inc.		905,236
	16,000	Wabtec Corp.		764,640
	20,800	Waste Connections, Inc.  *		824,928
	24,000	Woodward Governor Co.		778,080
				59,742,298
		INFORMATION TECHNOLOGY (15.4%)
	23,000	Accenture PLC Class A		977,270
	28,000	Acme Packet, Inc.  *		1,062,320
	5,000	Alliance Data Systems Corp.  *		326,300
	30,800	Amphenol Corp. Class A		1,508,584
	18,700	Anixter International, Inc.  *		1,009,613
	60,000	ANSYS, Inc.  *		2,535,000
	60,000	Ariba, Inc.  *		1,134,000
	70,000	Aruba Networks, Inc.  *		1,493,800
	24,000	Atheros Communications, Inc.  *		632,400
	12,000	Avago Technologies Ltd.  *		270,120
	11,400	Blackboard, Inc.  *		410,856
	21,000	Canon, Inc. ADR		981,120
	26,000	Check Point Software Technologies Ltd.  *		960,180
	60,000	Cognizant Technology Solutions Corp. Class A  *		3,868,200
	28,000	Concur Technologies, Inc.  *		1,384,320
	18,600	DG Fastchannel, Inc.  *		404,550
	27,550	Diodes, Inc.  *		470,830
	16,000	Dolby Laboratories, Inc. Class A  *		908,960
	16,000	Equinix, Inc.  *		1,637,600
	11,000	FactSet Research Systems, Inc.		892,430
	3,000	Google, Inc. Class A *		1,577,370
	40,000	Informatica Corp.  *		1,536,400
	4,200	LogMeIn, Inc.  *		151,116
	9,300	MasterCard, Inc. Class A		2,083,200
	4,000	MercadoLibre, Inc.  *		288,720
	37,200	MICROS Systems, Inc.  *		1,574,676
	53,000	Nuance Communications, Inc.  *		828,920
	4,000	Open Text Corp.  *		188,160
	12,600	Pegasystems, Inc.		391,230
	38,000	Rackspace Hosting, Inc.  *		987,240
	20,000	Rovi Corp.  *		1,008,200
	15,000	Rubicon Technology, Inc.  *		340,350
	27,000	Salesforce.com, Inc.  *		3,018,600
	25,000	Solera Holdings, Inc.		1,104,000
	21,000	Sourcefire, Inc.  *		605,640
	44,000	SuccessFactors, Inc.  *		1,104,840
	31,000	Teradata Corp.  *		1,195,360
	26,000	TIBCO Software, Inc.  *		461,240
	30,000	Trimble Navigation Ltd.  *		1,051,200

2

	Value Line Premier Growth Fund, Inc.
Schedule of Investments (unaudited)

Shares			Value
	20,000	VanceInfo Technologies, Inc. ADR *	$	646,800
	6,000	VeriFone Systems, Inc.  *		186,420
	14,000	VistaPrint NV  *		541,100
	13,000	VMware, Inc. Class A  *		1,104,220
				44,843,455
		MATERIALS (7.7%)
	21,000	Agrium, Inc.		1,574,790
	15,000	Air Products & Chemicals, Inc.		1,242,300
	40,000	Albemarle Corp.		1,872,400
	30,700	AptarGroup, Inc.		1,402,069
	7,000	Ball Corp.		411,950
	14,000	BASF AG ADR		884,100
	28,000	Celanese Corp. Series A		898,800
	12,600	Clearwater Paper Corp.  *		958,608
	16,000	Cliffs Natural Resources, Inc.		1,022,720
	23,000	Crown Holdings, Inc.  *		659,180
	22,000	FMC Corp.		1,505,020
	16,500	Greif, Inc. Class A		970,860
	17,000	Mosaic Co. (The)		998,920
	9,000	NewMarket Corp.		1,023,120
	30,000	Praxair, Inc.		2,707,800
	20,000	Rockwood Holdings, Inc.  *		629,400
	20,200	Scotts Miracle-Gro Co. (The) Class A		1,044,946
	30,000	Sigma-Aldrich Corp.		1,811,400
	4,000	STR Holdings, Inc.  *		86,160
	12,800	Syngenta AG ADR		637,312
				22,341,855
		TELECOMMUNICATION SERVICES (2.7%)
	4,000	AboveNet, Inc.  *		208,360
	10,837	Brasil Telecom S.A. ADR  *		93,415
	8,103	Brasil Telecom S.A. ADR Preferred Shares  *		160,845
	40,877	Crown Castle International Corp.  *		1,804,719
	10,000	Millicom International Cellular S.A.		959,500
	50,000	Mobile TeleSystems ADR		1,061,500
	19,500	Philippine Long Distance Telephone Co. ADR		1,167,270
	43,000	SBA Communications Corp. Class A *		1,732,900
	5,700	Telefonica S.A. ADR		422,655
	15,300	TW Telecom, Inc.  *		284,121
				7,895,285
		UTILITIES (1.8%)
	18,000	AGL Resources, Inc.		690,480
	24,000	Centrais Eletricas Brasileiras S.A.		308,400
	27,600	Cia de Saneamento Basico do Estado de Sao Paulo ADR		1,256,076
	20,000	EQT Corp.		721,200
	20,000	ITC Holdings Corp.		1,245,000
	20,000	Questar Corp.		350,600
	13,400	Wisconsin Energy Corp.		774,520
				5,346,276
		TOTAL COMMON STOCKS AND TOTAL INVESTMENT SECURITIES (94.3%) (Cost $176,138,305)		274,136,113
Principal Amount			Value
SHORT-TERM INVESTMENTS  (5.5%)
		REPURCHASE AGREEMENTS (1) (5.5%)
$	16,000,000	With Morgan Stanley, 0.18%, dated 09/30/10, due 10/01/10, delivery value $16,000,080 (collateralized by $15,950,000 U.S. Treasury Notes 1.3750%, due 05/15/13, with a value of $16,368,688)	$	16,000,000
		TOTAL SHORT-TERM INVESTMENTS (Cost $16,000,000) (5.5%)		16,000,000
CASH AND OTHER ASSETS IN EXCESS OF LIABILITIES  (0.2%)				611,824
NET ASSETS (2) (100%)			$	290,747,937
NET ASSET VALUE OFFERING AND REDEMPTION PRICE, PER OUTSTANDING SHARE ($290,747,937 ÷ 11,995,082 shares outstanding)			$	24.24

*	Non-income producing.
(1)	The Fund’s custodian takes possession of the underlying collateral securities, the value of which exceeds the principal amount of the repurchase transaction, including accrued interest.
(2)	For federal income tax purposes, the aggregate cost was $192,138,305, aggregate gross unrealized appreciation was $103,262,872, aggregate gross unrealized depreciation was $5,265,064 and the net unrealized appreciation was $97,997,808.
ADR	American Depositary Receipt.

3

In accordance with Financial Accounting Standards Board Accounting Standards Codification (FASB ASC 820-10), Fair Value Measurements and Disclosures, (formerly Statement of Financial Accounting Standards (“SFAS”) No. 157), the Fund discloses the fair value of its investments in a hierarchy that prioritizes the inputs to valuation techniques used to measure the fair value. The hierarchy gives the highest priority to valuations based upon unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurement) and the lowest priority to valuations based upon unobservable inputs that are significant to the valuation (level 3 measurements). FASB ASC 820-10-35-39 to 55 provides three levels of the fair value hierarchy as follows:

● Level 1: Inputs that reflect unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access at the measurement date;

● Level 2: Inputs other than quoted prices that are observable for the asset or liability either directly or indirectly, including inputs in markets that are not considered to be active;

● Level 3: Inputs that are unobservable.

In April 2009, the Fund adopted the authoritative guidance included in FASB ASC 820-10, Fair Value Measurements and Disclosures, on determining fair value when the volume and level of activity for the asset or liability have significantly decreased and identifying transactions that are not orderly (formerly FSP FAS 157-4). FASB ASC 820-10-35-51A to 51H indicates that if an entity determines that either the volume and/or level of activity for an asset or liability has significantly decreased (from normal conditions for that asset or liability) or price quotations or observable inputs are not associated with orderly transactions, increased analysis and management judgment will be required to estimate fair value. Valuation techniques such as an income approach might be appropriate to supplement or replace a market approach in those circumstances. It provides a list of factors to determine whether there has been a significant decrease in relation to normal market activity. Regardless, however, of the valuation technique and inputs used, the objective for the fair value measurement in those circumstances is unchanged from what it would be if markets were operatingat normal activity levels and/or transactions were orderly; that is, to determine the current exit price as promulgated by FASB ASC 820-10. The guidance also requires additional disclosures regarding inputs and valuation techniques used, change in valuation techniques and related inputs, if any, and more disaggregated information relating to debt and equity securities.

Valuation techniques such as an income approach might be appropriate to supplement or replace a market approach in those circumstances. It provides a list of factors to determine whether there has been a significant decrease in relation to normal market activity. Regardless, however, of the valuation technique and inputs used, the objective for the fair value measurement in those circumstances is unchanged from what it would be if markets were operating at normal activity levels and/or transactions were orderly; that is, to determine the current exit price as promulgated by FASB ASC 820-10.

The following is a summary of the inputs used as of September 30, 2010 in valuing the Fund’s investments carried at value:

Investments in Securities:	Level 1		Level 2		Level 3		Total
Assets
Common Stocks	$	274,136,113	$	0	$	0	$	274,136,113
Short-Term Investments		0		16,000,000		0		16,000,000
Total Investments in Securities	$	274,136,113	$	16,000,000	$	0	$	290,136,113

As of September 30, 2010, there was no significant security transfer activity from Level 1 to Level 2 or from Level 2 to Level 1.

For the period ended September 30, 2010, there were no Level 3 investments. The types of inputs used to value each security are identified in the Schedule of Investments, which also includes a breakdown of the Schedule’s investments by category.

Item 2. Controls and Procedures.

(a)

The registrant’s principal executive officer and principal financial officer have concluded that the   registrant’s disclosure controls and procedures (as defined in rule 30a-2(c) under the Act (17 CFR 270.30a-2(c) ) based on their evaluation of these controls and procedures as of the date within 90 days of filing date of this report, are approximately designed to ensure that material information relating to the registrant is made known to such officers and are operating effectively.

(b)

The registrant’s principal executive officer and principal financial officer have determined that there have been no significant changes in the registrant’s internal controls or in other factors that could significantly affect these controls subsequent to the date of their evaluation, including corrective actions with regard to significant deficiencies and material weaknesses.

Item 3. Exhibits:

(a) Certifications of principal executive officer and principal financial officer of the registrant.

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.

By	/s/ Mitchell E. Appel
	Mitchell E. Appel, President
Date:	November 23, 2010

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:	Mitchell E. Appel
	Mitchell E. Appel, President, Principal Executive Officer
By:	Emily D. Washington
	Emily D. Washington, Treasurer, Principal Financial Officer
Date:	November 23, 2010