13F-HR 1 s13ftable93004.txt DISCIPLINED GROWTH INVESTORS, INC. 13F-HR, 9-30-04 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 13F FORM 13F COVER PAGE Report for the Calendar Year of Quarter Ended: September 30, 2004 Check here if Amendment [ ]; Amendment Number: This Amendment (Check only one.): [ ] is a restatement. [ ] adds new holdings entries. Institutional Investment Manager Filing this Report: Name: Disciplined Growth Investors, Inc. Address:100 South Fifth Street Suite 2100 Minneapolis, MN 55402 13f File Number: 28-6630 The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form. Person Signing this Report on Behalf of Reporting Manager: Name: Laura J. Hawkins Title: Chief Financial Officer Phone: 612-317-4101 Signature, Place, and Date of Signing: Laura J. Hawkins Minneapolis, MN November 9, 2004 Report Type (Check only one): [X] 13F HOLDINGS REPORT [ ] 13F NOTICE [ ] 13F COMBINATION REPORT. List of other Managers Reporting for this Manager: I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES EXCHANGE ACT OF 1934. FORM 13F SUMMARY PAGE Report Summary: Number of other included Managers: 0 Form 13F Information Table Entry Total: 114 Form 13F Information Table Value Total: $725221 FORM 13F INFORMATION TABLE VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- -------- ABBOTT LABS COM com 002824100 503 11867 SH SOLE 11867 ADOBE SYS INC COM com 00724F101 28863 583450 SH SOLE 577425 6025 AK STL HLDG CORP COM com 001547108 1737 212927 SH SOLE 211327 1600 ALLSTATE CORP COM com 020002101 825 17200 SH SOLE 17200 APPLE COMPUTER INC COM com 037833100 27338 705500 SH SOLE 697725 7775 ARTISAN COMPONENTS INC COM com 042923102 3157 108450 SH SOLE 108375 75 ASHWORTH INC COM com 04516H101 3877 472800 SH SOLE 472275 525 AWARE INC MASS COM com 05453N100 1915 807900 SH SOLE 807375 525 BEA SYS INC COM com 073325102 10829 1567200 SH SOLE 1547400 19800 BJ SVCS CO COM com 055482103 9914 189160 SH SOLE 186710 2450 BROOKSTONE INC COM com 114537103 2856 151174 SH SOLE 151024 150 CALPINE CORP COM com 131347106 4821 1662575 SH SOLE 1643500 19075 CARDIODYNAMICS INTL COM com 141597104 2040 443475 SH SOLE 443175 300 CENDANT CORP COM com 151313103 837 38730 SH SOLE 38630 100 CHEESECAKE FACTORY INC COM com 163072101 5802 133697 SH SOLE 133597 100 CHEVRONTEXACO CORP com 166764100 624 11642 SH SOLE 11642 CIBER INC COM com 17163B102 194 25850 SH SOLE 25650 200 CONEXANT SYSTEMS INC com 207142100 152 95025 SH SOLE 94727 298 CONSOL ENERGY INC COM com 20854p109 4885 140025 SH SOLE 138350 1675 DELPHI AUTO SYS CORP COM com 247126105 2036 219167 SH SOLE 218049 1118 DENDREON CORP COM com 24823q107 1814 215722 SH SOLE 215515 207 DEVON ENERGY CORP COM com 25179M103 21393 301268 SH SOLE 299018 2250 DIGITAL THEATER SYS COM com 25389G102 2251 123325 SH SOLE 123200 125 E TRADE GROUP INC COM com 269246104 18860 1651525 SH SOLE 1630400 21125 EATON CORP COM com 278058102 24205 381727 SH SOLE 378752 2975 ECHELON CORP COM com 27874N105 2184 277110 SH SOLE 276750 360 EDWARDS LIFESCIENCES CORP com 28176e108 8318 248300 SH SOLE 245500 2800 2 50 SH OTHER 50 EFJ INC com 26843b101 29 4384 SH SOLE 4384 EMERSON ELEC CO COM com 291011104 657 10614 SH SOLE 10614 ENBRIDGE ENERGY PARTNERS LP com 29250R106 425 8900 SH SOLE 8900 EPIX PHARMACEUTICALS INC com 26881Q101 1331 68950 SH SOLE 68850 100 2 100 SH OTHER 100 EVOLVING SYS INC COM com 30049r100 1055 342600 SH SOLE 342225 375 EXXON MOBIL CORP COM com 30231G102 126 2604 SH SOLE 2604 237 4896 SH OTHER 4896 FARGO ELECTRONICS INC COM com 30744p102 1865 193225 SH SOLE 193025 200 FOUNDRY NETWORKS INC COM com 35063r100 19056 2008050 SH SOLE 1991350 16700 FURNITURE BRANDS INTL COM com 360921100 8319 331700 SH SOLE 328000 3700 GENZYME CORP COM GENL DIV com 372917104 11591 213030 SH SOLE 209305 3725 HONEYWELL INTERNATIONAL INC com 438516106 1401 39058 SH SOLE 38771 287 7 207 SH OTHER 207 IMAGING DIAGNOSTIC SYSTEMS com 45244w100 15 29250 SH SOLE 29250 IMATION CORP COM com 45245A107 7248 203644 SH SOLE 201294 2350 11 300 SH OTHER 300 INCYTE CORP com 45337c102 4333 449975 SH SOLE 449175 800 1 100 SH OTHER 100 INDUS INTL INC COM com 45578l100 1674 1059500 SH SOLE 1058225 1275 0 200 SH OTHER 200 INTEL CORP COM com 458140100 576 28700 SH SOLE 28700 INTER TEL INC COM com 458372109 1458 67425 SH SOLE 67325 100 INTUIT COM com 461202103 26923 593021 SH SOLE 588496 4525 INVESTMENT TEC GRP NEW COM com 46145F105 1187 77600 SH SOLE 77450 150 JANUS CAP GROUP INC COM com 47102x105 4759 349695 SH SOLE 345345 4350 JEFFERSON PILOT CORP COM com 475070108 9825 197838 SH SOLE 195088 2750 KEANE INC COM com 486665102 10048 654175 SH SOLE 645750 8425 KEITHLEY INSTRS INC COM com 487584104 3774 216250 SH SOLE 216125 125 LEVEL 3 COMMUNICTIONS COM com 52729n100 6969 2690650 SH SOLE 2672525 18125 1 500 SH OTHER 500 LILLY ELI & CO COM com 532457108 426 7100 SH SOLE 7100 LIMITED BRANDS INC com 532716107 16612 745286 SH SOLE 738216 7070 MAPICS INC COM com 564910107 5338 589875 SH SOLE 589600 275 1 100 SH OTHER 100 MAPINFO CORP COM com 565105103 4308 398917 SH SOLE 398692 225 MARKETWATCH INC com 570619106 9806 785105 SH SOLE 784780 325 6 500 SH OTHER 500 MAXTOR CORP COM NEW com 577729205 3602 692675 SH SOLE 685875 6800 MEDIMMUNE INC COM com 584699102 5868 247600 SH SOLE 244625 2975 MERCK & CO INC COM com 589331107 204 6191 SH SOLE 6191 67 2044 SH OTHER 2044 METRIS COS INC COM com 591598107 27907 2853431 SH SOLE 2833231 20200 MICHAELS STORES INC COM com 594087108 38382 648227 SH SOLE 643502 4725 MICRON TECHNOLOGY INC COM com 595112103 2698 224300 SH SOLE 219750 4550 MINNESOTA MNG & MFG CO COM com 604059105 88 1100 SH SOLE 1100 335 4184 SH OTHER 4184 MOBIUS MGMT SYS COM com 606925105 6612 731400 SH SOLE 730975 425 NASSDA CORP COM com 63172m101 1659 467225 SH SOLE 466875 350 NETBANK INC COM com 640933107 1175 117375 SH SOLE 117275 100 NETSOLVE INC COM com 64115j106 4494 415320 SH SOLE 415220 100 NOBLE CORP com G65422100 15292 340201 SH SOLE 337576 2625 NORTHERN BORDER PARTNR UNIT LT com 664785102 453 9900 SH SOLE 9900 OPEN TEXT CORP COM com 683715106 10923 632835 SH SOLE 630210 2625 PC-TEL INC COM com 69325Q105 5005 605925 SH SOLE 605575 350 PFIZER INC COM com 717081103 55 1787 SH SOLE 1787 437 14288 SH OTHER 14288 PLANTRONICS INC NEW COM com 727493108 28443 657790 SH SOLE 652865 4925 4 100 SH OTHER 100 PLEXUS CORP COM com 729132100 8067 730750 SH SOLE 720550 10200 REMINGTON OIL & GAS COM com 759594302 3462 131875 SH SOLE 131700 175 ROYAL CARIBBEAN CRUISE COM com V7780T103 21494 492975 SH SOLE 487200 5775 SCIENTIFIC ATLANTA INC COM com 808655104 20961 808677 SH SOLE 801052 7625 SECURE COMPUTING CORP COM com 813705100 5934 781875 SH SOLE 781375 500 SELECT COMFORT CORP COM com 81616x103 14159 777950 SH SOLE 773000 4950 SOFTBRANDS INC COM com 83402A107 100 89237 SH SOLE 89237 SPINNAKER EXPL CO COM com 84855w109 3508 100125 SH SOLE 100050 75 STAMPS COM INC COM NEW com 852857200 2191 164725 SH SOLE 164600 125 STELLENT INC com 85856W105 6606 856805 SH SOLE 856330 475 STRATEX NETWORKS INC com 86279T109 1084 483850 SH SOLE 483175 675 SUN MICROSYSTEMS INC COM com 866810104 17549 4343755 SH SOLE 4304155 39600 SYBASE INC COM com 871130100 15284 1108306 SH SOLE 1099431 8875 TEXAS INSTRS INC COM com 882508104 4731 222343 SH SOLE 219968 2375 TIME WARNER TELECOM CL A com 887319101 2773 577775 SH SOLE 577525 250 TJX COS INC NEW COM com 872540109 19123 867650 SH SOLE 861200 6450 TRIMBLE NAVIGATION LTD COM com 896239100 4740 149999 SH SOLE 149849 150 VALUEVISION MEDIA INC CL A com 92047K107 2271 169625 SH SOLE 169425 200 VIROPHARMA INC COM com 928241108 2494 1292200 SH SOLE 1290925 1275 WAL MART STORES INC COM com 931142103 406 7624 SH SOLE 7624 XTO ENERGY INC COM com 98385x106 10089 310627 SH SOLE 307703 2924 YAHOO INC COM com 984332106 49511 1460066 SH SOLE 1449141 10925 12 350 SH OTHER 350 VANGUARD MNY MKT RESVS PRIME P 922090620 14 13502.170SH SOLE 13502.170 NESTLE SA com 7123870 293 1280 SH SOLE 1280 ROCHE HLDG AG com 7110388 207 2000 SH SOLE 2000 UBS AG com 5962354 821 11664 SH SOLE 11664