N-Q 1 gfa_nq.htm N-Q Unassociated Document
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: 811-00862



The Growth Fund of America, Inc.
(Exact Name of Registrant as Specified in Charter)

P.O. Box 7650, One Market, Steuart Tower,
San Francisco, California 94120
(Address of Principal Executive Offices)




Registrant's telephone number, including area code:  (415) 421-9360

Date of fiscal year end: August 31

Date of reporting period: May 31, 2008





Patrick F. Quan
Capital Research and Management Company
P.O. Box 7650, One Market, Steuart Tower
San Francisco, California 94120
(Name and Address of Agent for Service)


Copies to:
Michael Glazer
Paul, Hastings, Janofsky & Walker LLP
515 South Flower Street, 25th Floor
Los Angeles, California 90071
(Counsel for the Registrant)

 
 
 

ITEM 1 – Schedule of Investments

[logo – American Funds®]


 

The Growth Fund of America®
Investment portfolio

May 31, 2008
   
unaudited
     
   
Market value
Common stocks — 88.53%
Shares
(000)
     
INFORMATION TECHNOLOGY — 22.06%
    
Google Inc., Class A1
9,159,700
 $5,365,752
Oracle Corp.1
196,978,700
4,498,994
Cisco Systems, Inc.1
151,025,500
4,035,401
Microsoft Corp.
119,140,000
3,374,045
Nokia Corp.
45,628,000
1,315,324
Nokia Corp. (ADR)
40,197,174
1,141,600
Yahoo! Inc.1,2
90,694,100
2,426,974
Apple Inc.1
11,475,000
2,165,906
SAP AG1
29,877,500
1,650,985
International Business Machines Corp.
9,700,000
1,255,471
EMC Corp.1
59,704,817
1,041,252
Intel Corp.
38,270,000
887,099
Texas Instruments Inc.
24,949,000
810,344
Samsung Electronics Co., Ltd.
1,078,001
777,042
MasterCard Inc., Class A
2,500,000
771,625
Linear Technology Corp.2
19,850,000
729,885
KLA-Tencor Corp.2
12,940,000
596,793
Corning Inc.
21,599,195
590,522
Applied Materials, Inc.
28,950,000
573,500
Taiwan Semiconductor Manufacturing Co. Ltd.
197,506,472
426,128
Taiwan Semiconductor Manufacturing Co. Ltd. (ADR)
12,769,135
146,207
Visa Inc., Class A1
6,594,300
569,484
Symantec Corp.1
25,800,000
560,634
Paychex, Inc.
14,491,700
500,688
Intuit Inc.1,2
16,825,000
487,252
MEMC Electronic Materials, Inc.1
7,092,502
486,971
Dell Inc.1
18,910,000
436,065
Xilinx, Inc.
13,900,000
378,080
Maxim Integrated Products, Inc.2
17,025,000
376,252
ASML Holding NV (New York registered)
9,555,555
286,284
ASML Holding NV
2,440,000
72,995
Accenture Ltd, Class A
8,303,247
338,939
Kyocera Corp.
3,500,000
337,081
Automatic Data Processing, Inc.
7,688,000
330,968
ACTIVISION, Inc.1
9,650,000
325,687
Flextronics International Ltd.1
28,450,464
304,704
High Tech Computer Corp.
10,454,000
278,154
Juniper Networks, Inc.1
10,000,000
275,200
Tyco Electronics Ltd.
6,363,000
255,284
Iron Mountain Inc.1
7,750,000
232,732
Microchip Technology Inc.
6,005,000
221,224
Canon, Inc.
3,404,700
183,820
Motorola, Inc.
18,858,300
175,948
Analog Devices, Inc.
5,000,000
175,550
Nortel Networks Corp.1
18,248,700
150,369
QUALCOMM Inc.
3,000,000
145,620
Jabil Circuit, Inc.
10,300,000
131,016
Lam Research Corp.1
3,000,000
122,100
Hirose Electric Co., Ltd.
1,040,000
121,180
Fiserv, Inc.1
2,250,000
117,810
Comverse Technology, Inc.1
6,000,000
111,900
Hon Hai Precision Industry Co., Ltd.
16,800,000
95,037
Rohm Co., Ltd.
1,082,000
70,942
Micron Technology, Inc.1
8,600,000
69,402
Quanta Computer Inc.
34,951,705
55,178
Foxconn Technology Co., Ltd.
9,255,000
53,725
Advanced Micro Devices, Inc.1
3,800,000
26,144
Western Union Co.
890,000
21,040
Sun Microsystems, Inc.1
1,331,675
17,245
Teradyne, Inc.1
900,000
12,366
ProAct Holdings, LLC1,3,4
6,500,000
                    —
   
43,491,919
     
ENERGY — 16.42%
    
Schlumberger Ltd.
46,614,440
4,714,118
Suncor Energy Inc.2
51,010,970
3,481,685
Devon Energy Corp.
17,433,100
2,021,194
EOG Resources, Inc.2
14,908,522
1,917,683
Baker Hughes Inc.2
20,304,100
1,799,349
Transocean Inc.1
8,907,514
1,337,819
Canadian Natural Resources, Ltd.
12,325,025
1,206,327
BG Group PLC
46,516,737
1,166,615
CONSOL Energy Inc.2,4
7,400,000
721,944
CONSOL Energy Inc.2
3,456,400
337,206
Occidental Petroleum Corp.
11,330,000
1,041,567
Smith International, Inc.2
12,937,098
1,020,996
Petróleo Brasileiro SA - Petrobras, ordinary nominative (ADR)
13,456,400
948,676
Petro-Canada
14,427,900
832,563
OAO LUKOIL (ADR)
7,237,000
801,498
Halliburton Co.
14,945,000
726,028
Chesapeake Energy Corp.
13,000,000
712,010
Noble Energy, Inc.
6,859,000
668,410
OAO Gazprom (ADR)
10,066,800
608,035
Diamond Offshore Drilling, Inc.
4,000,000
545,760
Newfield Exploration Co.1,2
8,139,800
514,761
Chevron Corp.
4,450,000
441,217
Nexen Inc.
11,056,517
425,233
ConocoPhillips
4,382,100
407,973
Tenaris SA (ADR)
6,270,000
384,351
Imperial Oil Ltd.
6,091,854
354,106
Exxon Mobil Corp.
3,900,000
346,164
Arch Coal, Inc.
4,800,000
311,568
Cameco Corp.
7,616,800
310,345
Pioneer Natural Resources Co.
3,805,000
273,161
StatoilHydro ASA (ADR)
6,758,785
264,606
BJ Services Co.
8,600,000
259,720
Apache Corp.
1,860,000
249,352
Murphy Oil Corp.
2,318,000
214,763
Peabody Energy Corp.
2,830,000
     209,194
Patriot Coal Corp.1,2
1,658,000
179,280
Royal Dutch Shell PLC, Class A (ADR)
2,000,000
170,980
Saipem SpA, Class S
3,200,000
146,958
Hess Corp.
1,080,000
132,635
Rowan Companies, Inc.
2,200,000
97,130
Sasol Ltd.
1,000,000
62,339
   
32,365,319
     
CONSUMER DISCRETIONARY — 10.17%
    
Lowe’s Companies, Inc.2
95,114,400
2,282,746
Target Corp.2
40,434,502
2,157,585
Time Warner Inc.
107,794,000
1,711,769
News Corp., Class A
62,134,800
1,115,320
Carnival Corp., units
25,749,180
1,031,512
McDonald’s Corp.
17,116,200
1,015,333
Best Buy Co., Inc.2
21,163,400
988,119
Comcast Corp., Class A
37,660,000
847,350
Comcast Corp., Class A, special nonvoting stock
6,000,000
133,740
Johnson Controls, Inc.
20,140,400
685,982
YUM! Brands, Inc.
16,806,000
667,198
Las Vegas Sands Corp.1
9,608,121
667,188
Time Warner Cable Inc., Class A1
22,175,000
663,033
Kohl’s Corp.1
14,200,000
636,160
International Game Technology
15,207,000
542,282
Garmin Ltd.2
10,810,000
525,907
Liberty Media Corp., Liberty Interactive, Series A1,2
30,367,500
515,944
MGM Mirage, Inc.1
8,931,240
439,506
Starbucks Corp.1
14,000,000
254,660
NIKE, Inc., Class B
3,700,000
252,969
Limited Brands, Inc.
13,050,000
252,909
Shaw Communications Inc., Class B, nonvoting
12,000,000
248,640
Li & Fung Ltd.
65,492,000
247,570
Nikon Corp.
6,856,000
218,580
Fortune Brands Inc.
3,000,000
208,440
Magna International Inc., Class A
2,598,100
186,024
Harman International Industries, Inc.2
4,078,900
182,408
CarMax, Inc.1
9,200,000
180,872
Ross Stores, Inc.
4,228,700
154,855
Williams-Sonoma, Inc.2
5,920,000
150,486
Toyota Motor Corp.
2,730,000
139,103
DreamWorks Animation SKG, Inc., Class A1
3,500,000
110,495
Royal Caribbean Cruises Ltd.
3,250,000
96,590
TJX Companies, Inc.
3,000,000
96,180
Harley-Davidson, Inc.
2,109,500
87,692
Gentex Corp.
4,600,000
80,776
Brinker International, Inc.
3,000,000
65,790
Lennar Corp., Class A
3,500,000
59,080
Boyd Gaming Corp.
3,458,500
55,163
SEGA SAMMY HOLDINGS INC.
4,700,000
48,387
XM Satellite Radio Holdings Inc., Class A1
3,835,000
40,766
   
20,045,109
     
HEALTH CARE — 8.62%
    
Roche Holding AG
15,080,000
2,600,150
Medtronic, Inc.
38,569,000
1,954,291
Gilead Sciences, Inc.1
20,920,000
1,157,294
Eli Lilly and Co.
21,220,000
  1,021,531
Genentech, Inc.1
12,830,000
909,262
Stryker Corp.
13,274,400
856,863
Boston Scientific Corp.1
45,300,000
602,037
Celgene Corp.1
9,800,000
596,428
Aetna Inc.
12,455,000
587,378
Cardinal Health, Inc.
9,375,000
530,063
UnitedHealth Group Inc.
15,475,000
529,400
Merck & Co., Inc.
13,500,000
525,960
Intuitive Surgical, Inc.1
1,500,000
440,385
Schering-Plough Corp.
20,987,500
428,145
Novo Nordisk A/S, Class B
6,527,400
424,883
Abbott Laboratories
7,250,000
408,537
Amgen Inc.1
8,457,800
372,397
C. R. Bard, Inc.
3,749,500
341,954
McKesson Corp.
5,900,000
340,135
Hospira, Inc.1
7,750,000
325,035
Teva Pharmaceutical Industries Ltd. (ADR)
6,599,307
301,786
Biogen Idec Inc.1
4,000,000
251,000
AstraZeneca PLC (Sweden)
4,778,000
209,981
St. Jude Medical, Inc.1
5,100,000
207,825
Johnson & Johnson
3,050,000
203,557
Allergan, Inc.
2,570,000
148,083
Wyeth
3,000,000
133,410
Endo Pharmaceuticals Holdings Inc.1
5,300,000
130,592
CIGNA Corp.
3,000,000
121,800
Cephalon, Inc.1
1,400,000
94,794
Covidien Ltd.
1,565,475
78,415
Forest Laboratories, Inc.1
1,500,000
53,865
WellPoint, Inc.1
750,000
41,865
APP Pharmaceuticals, Inc.1
2,200,000
29,172
Affymetrix, Inc.1
2,000,000
24,120
Applera Corp., Celera group1
528,800
6,811
   
16,989,204
     
INDUSTRIALS — 6.72%
    
General Electric Co.
63,830,000
1,960,858
Caterpillar Inc.
16,166,000
1,335,958
United Parcel Service, Inc., Class B
18,383,500
1,305,596
General Dynamics Corp.
11,641,400
1,072,755
Boeing Co.
12,400,000
1,026,348
FedEx Corp.
9,730,000
892,338
Deutsche Post AG
15,460,000
491,846
Southwest Airlines Co.
31,389,000
409,940
Fluor Corp.
2,000,000
373,100
Lockheed Martin Corp.
3,330,000
364,435
Precision Castparts Corp.
2,957,000
357,206
Burlington Northern Santa Fe Corp.
3,046,600
344,418
Union Pacific Corp.
4,000,000
329,240
Tyco International Ltd.
6,863,000
310,139
United Technologies Corp.
4,340,000
308,314
Raytheon Co.
4,700,000
300,142
Norfolk Southern Corp.
4,432,800
298,682
Mitsubishi Heavy Industries, Ltd.
55,491,400
280,116
Mitsubishi Corp.
7,400,000
255,584
Northrop Grumman Corp.
3,182,000
240,114
KBR, Inc.
6,575,289
     228,228
Allied Waste Industries, Inc.1
15,000,000
202,050
Bombardier Inc., Class B1
19,133,250
152,142
Illinois Tool Works Inc.
1,799,800
96,649
Monster Worldwide, Inc.1
3,544,084
87,503
Avery Dennison Corp.
1,598,000
82,425
Continental Airlines, Inc., Class B1
3,400,000
48,994
UAL Corp.
5,000,000
42,700
Robert Half International Inc.
1,610,000
39,574
   
13,237,394
     
MATERIALS — 6.67%
    
Syngenta AG2
5,200,000
1,584,149
USX Corp.2
7,656,935
1,322,429
Potash Corp. of Saskatchewan Inc.
6,506,500
1,295,249
Freeport-McMoRan Copper & Gold Inc.
11,133,000
1,288,199
Barrick Gold Corp.
30,000,000
1,208,700
Newmont Mining Corp.
16,898,000
803,162
BHP Billiton PLC
17,686,093
670,592
Billiton PLC (ADR)
1,460,608
111,532
Monsanto Co.
5,905,900
752,412
Rio Tinto PLC
6,172,960
740,444
CRH PLC
15,502,995
571,597
Teck Cominco Ltd., Class B
9,950,000
492,442
BHP Billiton Ltd.
10,215,000
424,534
ArcelorMittal
3,595,085
356,937
ArcelorMittal, Class A, New York registered shares
650,000
64,565
Sigma-Aldrich Corp.
5,455,000
320,536
Israel Chemicals Ltd.3
12,700,000
291,976
POSCO
530,000
288,200
Vulcan Materials Co.
2,750,000
211,557
Norsk Hydro ASA (ADR)3
7,839,000
124,636
Newcrest Mining Ltd.
3,463,926
105,373
Sealed Air Corp.
3,500,000
85,260
Kuraray Co., Ltd.
2,290,000
28,921
   
13,143,402
     
FINANCIALS — 6.20%
    
Berkshire Hathaway Inc., Class A1
12,150
1,635,998
Citigroup Inc.
62,532,000
1,368,825
Fannie Mae2
49,853,470
1,347,041
American International Group, Inc.
28,362,200
1,021,039
Banco Bradesco SA, preferred nominative (ADR)
34,944,900
839,027
Freddie Mac
25,552,183
649,537
Bank of New York Mellon Corp.
12,017,838
535,154
American Express Co.
10,995,081
509,622
PNC Financial Services Group, Inc.
7,026,000
451,421
Marsh & McLennan Companies, Inc.
12,175,000
331,525
Wells Fargo & Co.
10,992,800
303,072
Mitsubishi Estate Co., Ltd.
10,877,000
293,108
JPMorgan Chase & Co.
6,485,000
278,855
ICICI Bank Ltd.
14,000,000
261,931
AFLAC Inc.
3,545,000
237,976
T. Rowe Price Group, Inc.
4,000,000
231,680
XL Capital Ltd., Class A
6,479,000
226,182
HDFC Bank Ltd.
6,633,200
    215,394
Marshall & Ilsley Corp.
7,399,998
171,976
State Street Corp.
2,370,000
170,687
SunTrust Banks, Inc.
3,223,500
168,299
Banco Bilbao Vizcaya Argentaria, SA
7,000,000
156,052
AMP Ltd.
21,000,000
147,265
Capital One Financial Corp.
2,200,000
105,864
BOC Hong Kong (Holdings) Ltd.
37,386,000
95,526
Zions Bancorporation
2,145,000
92,428
AXIS Capital Holdings Ltd.
2,000,000
70,100
Old Republic International Corp.
4,640,000
69,832
Protective Life Corp.
1,500,000
62,970
National City Corp.4
8,285,000
48,384
Popular, Inc.
4,000,000
43,600
Willis Group Holdings Ltd.
900,000
32,247
Umpqua Holdings Corp.
2,175,000
30,320
Washington Mutual, Inc.4
1,714,286
15,463
   
12,218,400
     
CONSUMER STAPLES — 4.69%
    
PepsiCo, Inc.
24,300,000
1,659,690
Archer Daniels Midland Co.2
32,703,767
1,298,340
Coca-Cola Co.
19,255,000
1,102,541
Walgreen Co.
28,341,100
1,020,846
Avon Products, Inc.
18,575,000
725,539
Altria Group, Inc.
28,536,700
635,227
Groupe Danone SA
6,335,000
554,561
Bunge Ltd.
4,127,200
492,664
Wm. Wrigley Jr. Co.
3,762,500
290,202
Kerry Group PLC, Class A2
8,965,824
270,594
Wal-Mart Stores, Inc.
4,050,000
233,847
Whole Foods Market, Inc.
6,399,600
185,588
L’Oréal SA
1,300,000
158,193
IAWS Group PLC
6,175,000
150,149
SYSCO Corp.
4,404,100
135,911
Constellation Brands, Inc., Class A1
6,200,000
132,184
General Mills, Inc.
1,235,000
78,052
Diageo PLC
4,000,000
78,051
C&C Group PLC
6,000,000
48,164
   
9,250,343
     
TELECOMMUNICATION SERVICES — 1.34%
    
Sprint Nextel Corp., Series 12
165,075,350
1,545,105
Qwest Communications International Inc.2
121,418,000
588,878
KDDI Corp.
43,000
298,254
Telephone and Data Systems, Inc., Special Common Shares
2,303,100
101,106
Verizon Communications Inc.
2,584,350
99,420
Embarq Corp.
85,000
4,022
Broadview Networks Holdings, Inc., Class A1,3,4
31,812
                    —
   
2,636,785
     
UTILITIES — 0.81%
    
Mirant Corp.1
9,750,000
396,045
Questar Corp.
4,950,000
317,889
NRG Energy, Inc.1
6,500,000
270,335
Reliant Energy, Inc.1
9,473,900
      242,153
Veolia Environnement
2,650,000
188,857
Dynegy Inc., Class A1
19,920,000
187,646
   
1,602,925
     
MISCELLANEOUS — 4.83%
    
Other common stocks in initial period of acquisition
  
9,518,182
     
     
Total common stocks (cost: $134,528,343,000)
  
174,498,982




Preferred stocks — 0.00%
    
     
TELECOMMUNICATION SERVICES — 0.00%
    
Broadview Networks Holdings, Inc., Series B1,3,4
1,272
583
     
     
Total preferred stocks (cost: $21,000,000)
  
583
     
     
     
     
Warrants — 0.00%
    
     
FINANCIALS — 0.00%
    
Washington Mutual, Inc., warrants, expire 20131,3,4
2,857,142
6,152
     
     
Total warrants (cost: $10,949,000)
  
6,152
     
     
     
     
     
Convertible securities — 0.53%
    
     
FINANCIALS — 0.50%
    
Citigroup Inc., Series J, 7.00% noncumulative convertible preferred depositary shares3,4
5,140,000
249,547
Citigroup Inc., Series D, 7.00% noncumulative convertible preferred3,4
3,750,000
182,063
National City Corp., Series G, 0% noncumulative convertible preferred3,4
3,543
393,131
Washington Mutual, Inc., Series S, 0% noncumulative non-voting convertible preferred3,4
2,000
172,152
   
996,893
     
MISCELLANEOUS — 0.03%
    
Other convertible securities in initial period of acquisition
  
50,850
     
     
Total convertible securities (cost: $1,037,851,000)
  
1,047,743
     
   
unaudited
     
 
Principal amount
Market value
Bonds & notes — 0.11%
(000)
(000)
     
CONSUMER DISCRETIONARY — 0.06%
    
Delphi Automotive Systems Corp. 6.55% 20065
 $     58,190
$     23,858
Delphi Automotive Systems Corp. 6.50% 20095
20,000
8,200
Delphi Corp. 6.50% 20135
53,500
21,400
Delphi Automotive Systems Corp. 7.125% 20295
22,000
9,130
Harrah’s Operating Co., Inc. 10.75% 20166
60,000
52,350
   
114,938
     
TELECOMMUNICATION SERVICES — 0.05%
    
Sprint Nextel Corp. 6.00% 20162
14,915
12,324
Sprint Capital Corp. 6.90% 20192
31,100
26,483
Sprint Capital Corp. 8.75% 20322
72,146
65,263
Level 3 Financing, Inc. 12.25% 2013
4,150
4,337
   
108,407
     
Total bonds & notes (cost: $284,012,000)
  
223,345




Short-term securities — 10.83%
    
     
U.S. Treasury Bills 0.93%–3.43% due 6/5–11/28/2008
4,501,350
4,481,951
Federal Home Loan Bank 1.70%–4.16% due 6/4–12/29/2008
4,148,674
4,127,439
Freddie Mac 1.72%–4.19% due 6/13/2008–1/9/2009
4,123,433
4,097,065
Fannie Mae 1.72%–3.45% due 6/11–12/5/20082
2,387,266
2,371,037
General Electric Capital Services, Inc. 2.53%–2.87% due 6/17–7/22/2008
216,700
216,221
General Electric Capital Corp. 2.45%–2.62% due 7/9–8/12/2008
165,000
164,417
General Electric Co. 2.42% due 6/24/2008
71,100
70,961
Edison Asset Securitization LLC 2.93% due 6/9/20086
50,452
50,414
Federal Farm Credit Banks 2.04%–2.50% due 6/4/2008–2/13/2009
486,000
481,587
Procter & Gamble International Funding S.C.A. 2.08%–2.12% due 6/10–8/12/20086
325,100
324,145
Procter & Gamble 2.03% due 6/23/20086
145,100
144,912
Coca-Cola Co. 2.03%–2.58% due 6/4–8/26/20086
443,700
442,264
AT&T Inc. 2.06%–2.22% due 6/2–7/21/20086
419,056
418,170
Wal-Mart Stores Inc. 1.97%–2.13% due 7/29–12/16/20086
368,800
365,714
JPMorgan Chase & Co. 2.20%–2.82% due 7/14–9/2/2008
290,100
288,788
Park Avenue Receivables Co., LLC 2.68% due 6/5/20086
20,000
19,993
Bank of America Corp. 2.52%–2.67% due 6/3–8/20/2008
286,800
286,055
Ciesco LLC 2.59%–2.68% due 7/18–7/30/20086
130,700
130,186
CAFCO, LLC  2.75%–2.88% due 6/12–7/2/20086
95,500
95,319
Honeywell International Inc. 2.05%–2.08% due 6/27–8/11/20086
209,200
208,386
Wells Fargo Bank, N.A. 2.14% due 7/23–7/25/2008
200,000
199,304
United Parcel Service Inc. 1.99%–2.09% due 8/13–9/24/20086
200,000
198,615
Abbott Laboratories 1.98%–2.15% due 6/26–7/29/20086
192,000
191,423
Pfizer Inc 2.54%–4.33% due 6/12–6/13/20086
150,000
149,854
Johnson & Johnson 1.95%–2.00% due 7/22–7/30/20086
140,000
139,443
Union Bank of California, N.A. due 2.48%–2.71% due 7/8–7/23/2008
136,500
136,492
Private Export Funding Corp. 2.00%–2.70% due 6/2–10/21/20086
124,400
123,992
Paccar Financial Corp. 1.97%–2.07% due 7/17–8/14/2008
109,300
108,764
IBM International Group Capital LLC 2.00%–2.24% due 6/16–6/18/20086
102,300
102,180
E.I. duPont de Nemours and Co. 2.00%–2.03% due 6/11–6/23/20086
100,000
99,922
Variable Funding Capital Corp. 2.70%–2.73% due 6/2–6/6/20086
95,000
94,969
Eaton Corp. 2.15%–2.60% due 6/6–7/24/20086
85,000
84,794
John Deere Capital Corp. 2.02%–2.06% due 7/8–7/28/20086
76,208
75,934
FCAR Owner Trust I 2.55% due 6/2/2008
75,000
74,984
American Express Credit Corp. 2.68%-2.89% due 6/12–7/29/2008
75,000
74,802
State Street Corp. 2.22%–2.25% due 7/7–7/29/2008
75,000
74,781
NETJETS Inc. 1.97%–2.00% due 7/8–7/14/20086
75,000
74,771
PepsiCo Inc. 2.05%–2.10% due 6/5–6/12/20086
73,254
        73,220
Walt Disney Co. 1.95%–2.10% due 7/7–7/21/2008
65,000
64,780
Harley-Davidson Funding Corp. 2.05%–2.09% due 6/24–8/11/20086
62,000
61,777
Illinois Tool Works Inc. 2.02%–2.13% due 6/5–6/20/2008
50,000
49,965
Brown-Forman Corp. 2.10%–2.15% due 6/16–6/25/20086
50,000
49,933
3M Co. 1.98% due 6/25/2008
50,000
49,931
Anheuser-Busch Cos. Inc. 2.08% due 6/30/20086
50,000
49,879
Prudential Funding, LLC 2.25% due 7/24/2008
50,000
49,813
Harvard University 2.00% due 7/3/2008
40,000
39,889
Wm. Wrigley Jr. Co. 2.10% due 8/1/20086
25,000
24,888
Becton, Dickinson and Co. 2.02% due 6/2/2008
20,000
19,998
Genentech, Inc. 2.00% due 6/26/20086
9,200
9,187
     
     
Total short-term securities (cost: $21,341,142,000)
  
21,333,308
     
     
Total investment securities (cost: $157,223,297,000)
  
197,110,113
Other assets less liabilities
  
(6,025)
     
Net assets
  
$197,104,088

“Miscellaneous” securities include holdings in their initial period of acquisition that have not previously been publicly disclosed.

1Security did not produce income during the last 12 months.
2The fund owns 5% or more of the outstanding voting shares of this company. See table on the next page for additional information.
3Valued under fair value procedures adopted by authority of the board of directors. The total value of all such securities, including those in "Miscellaneous," was $1,445,688,000, which represented .73% of the net assets of the fund.
4Purchased in a transaction exempt from registration under the Securities Act of 1933. May be subject to legal or contractual restrictions on resale. Further details on these holdings appear below.

 
Acquisition
Cost
Market value
Percent of
 
date(s)
(000)
 (000)
net assets
         
CONSOL Energy Inc.
10/2/2003
             $     67,784
              $   721,944
                     .37%
National City Corp., Series G, 0% noncumulative convertible preferred
4/21/2008
                354,300
       393,131
.20
Citigroup Inc., Series J, 7.00%, noncumulative
        
     convertible preferred depositary shares
1/15/2008
                257,000
       249,547
.13
Citigroup Inc., Series D, 7.00%, noncumulative
        
     convertible preferred
1/15/2008
               187,500
182,063
.09
Washington Mutual, Inc., Series S, 0% noncumulative
        
     non-voting convertible preferred
4/8/2008
                189,051
       172,152
.09
National City Corp.
4/21/2008
                41,425
       48,384
.02
Washington Mutual, Inc.
4/8/2008
                15,000
       15,463
.01
Washington Mutual, Inc., warrants, expire 2013
4/8/2008
                10,949
       6,152
—
Broadview Networks Holdings, Inc., Series B
7/7/2000–3/6/2002
                21,000
            583
—
Broadview Networks Holdings, Inc., Class A
7/7/2000–3/6/2002
                —
            —
—
ProAct Holdings, LLC
1/4/2005
              162
           —
—
         
Total restricted securities
  
$1,144,171
$1,789,419
.91%


5Scheduled interest and/or principal payment was not received.
6Purchased in a transaction exempt from registration under the Securities Act of 1933. May be resold in the United States in transactions exempt from  registration, normally to qualified institutional buyers. The total value of all such securities was $3,856,634,000, which represented 1.96% of the net assets of the fund.

ADR = American Depositary Receipts
GDR = Global Depositary Receipts
 
unaudited


Investments in affiliates

A company is considered to be an affiliate of the fund under the Investment Company Act of 1940 if the fund’s holdings in that company represent 5% or more of the outstanding voting shares of that company. Further details on these holdings and related transactions during the nine months ended May 31, 2008, appear below.
           
Market value
         
Dividend and
of affiliates
 
Beginning shares or
    
Ending shares or
interest income
at 5/31/08
 
principal amount
Additions
Reductions
principal amount
 (000)
(000)
             
Fannie Mae, short-term securities
$709,727,000
$6,627,236,000
$4,949,697,000
$2,387,266,000
$  62,790
$  2,371,037
Fannie Mae
50,524,700
7,409,170
8,080,400
49,853,470
63,423
 1,347,041
Suncor Energy Inc.
18,424,414
32,586,556
—
51,010,970
3,203
3,481,685
Yahoo! Inc.
64,738,000
28,956,100
3,000,000
90,694,100
—
 2,426,974
Lowe’s Companies, Inc.
96,114,400
—
1,000,000
95,114,400
22,987
2,282,746
Lowe’s Companies, Inc.,
            
short-term securities
$  20,000,000
$     22,600,000
$     42,600,000
$                    —
109
 —
Target Corp.
45,484,502
2,000,000
7,050,000
40,434,502
18,298
 2,157,585
EOG Resources, Inc.
15,885,000
49,900
1,026,378
14,908,522
4,695
 1,917,683
Baker Hughes Inc.
17,606,800
2,961,300
264,000
20,304,100
7,534
 1,799,349
Sprint Nextel Corp., Series 1
130,289,950
49,712,500
14,927,100
165,075,350
7,263
 1,545,105
Sprint Capital Corp. 8.75% 2032
—
$     72,146,000
—
$     72,146,000
1,095
 65,263
Sprint Capital Corp. 6.90% 2019
—
$     31,100,000
—
$     31,100,000
356
 26,483
Sprint Nextel Corp. 6.00% 2016
—
$     14,915,000
—
$     14,915,000
113
 12,324
Syngenta AG
5,200,000
—
—
5,200,000
20,471
 1,584,149
USX Corp.
7,230,709
3,076,935
2,650,709
7,656,935
4,482
 1,322,429
Archer Daniels Midland Co.
13,000,000
23,118,767
3,415,000
32,703,767
11,380
 1,298,340
CONSOL Energy Inc.
7,400,000
—
—
7,400,000
2,220
 721,944
CONSOL Energy Inc.
3,456,400
—
—
3,456,400
1,037
 337,206
Smith International, Inc.
9,873,000
4,914,098
1,850,000
12,937,098
2,922
 1,020,996
Best Buy Co., Inc.
22,663,400
—
1,500,000
21,163,400
8,774
 988,119
Linear Technology Corp.
19,850,000
—
—
19,850,000
11,910
 729,885
KLA-Tencor Corp.
12,940,000
—
—
12,940,000
5,823
 596,793
Qwest Communications International Inc.
114,418,000
7,000,000
—
121,418,000
9,713
 588,878
Garmin Ltd.
4,740,000
6,170,000
100,000
10,810,000
—
 525,907
Liberty Media Corp.,
            
Liberty Interactive, Series A
23,792,500
15,421,100
8,846,100
30,367,500
—
 515,944
Newfield Exploration Co.
8,264,800
—
125,000
8,139,800
—
 514,761
Intuit Inc.
16,825,000
—
—
16,825,000
—
 487,252
Maxim Integrated Products, Inc.
15,140,000
1,885,000
—
17,025,000
9,577
 376,252
Kerry Group PLC, Class A
8,965,824
—
—
8,965,824
2,739
 270,594
Harman International Industries, Inc.
1,481,900
2,597,000
—
4,078,900
153
 182,408
Patriot Coal Corp.
—
1,658,000
—
1,658,000
—
 179,280
Williams-Sonoma, Inc.
4,605,000
1,315,000
—
5,920,000
1,867
 150,486
Advanced Micro Devices, Inc.*
32,240,000
—
28,440,000
3,800,000
—
 —
Altera Corp.*
23,950,000
—
23,950,000
—
1,446
 —
Analog Devices, Inc.*
18,146,666
—
13,146,666
5,000,000
4,987
 —
BJ Services Co.*
17,475,000
545,200
9,420,200
8,600,000
2,465
 —
Bunge Ltd.*
7,250,000
1,700,000
4,822,800
4,127,200
2,652
 —
CarMax, Inc.*
12,600,000
1,000,000
4,400,000
9,200,000
—
 —
Carnival Corp., units*
31,600,000
—
5,850,820
25,749,180
32,290
 —
International Game Technology*
16,800,000
2,000,000
3,593,000
15,207,000
6,597
 —
Kohl’s Corp.*
12,900,000
4,550,000
3,250,000
14,200,000
—
 —
Robert Half International Inc.*
8,310,000
—
6,700,000
1,610,000
1,922
 —
Sealed Air Corp.*
9,271,200
83,100
5,854,300
3,500,000
2,328
 —
Southwest Airlines Co.*
43,578,877
—
12,189,877
31,389,000
337
 —
Xilinx, Inc.*
22,700,000
—
8,800,000
13,900,000
6,237
 —
         
$346,195
$31,824,898
*Unaffiliated issuer at 5/31/2008
            


   
unaudited
     
     
Federal income tax information
  
(dollars in thousands)
     
Gross unrealized appreciation on investment securities
  
$  49,182,533
Gross unrealized depreciation on investment securities
  
(9,462,289)
Net unrealized appreciation on investment securities
  
39,720,244
Cost of investment securities for federal income tax purposes
  
157,389,869





Investments are not FDIC-insured, nor are they deposits of or guaranteed by a bank or any other entity, so you may lose money.

Investors should carefully consider the investment objectives, risks, charges and expenses of the American Funds. This and other important information is contained in each fund’s prospectus, which can be obtained from your financial professional and should be read carefully before investing.
 
 
MFGEFP-905-0708O-S15799
 
 
ITEM 2 – Controls and Procedures

The Registrant’s Principal Executive Officer and Principal Financial Officer have concluded, based on their evaluation of the Registrant’s disclosure controls and procedures (as such term is defined in Rule 30a-3 under the Investment Company Act of 1940), that such controls and procedures are adequate and reasonably designed to achieve the purposes described in paragraph (c) of such rule.

There were no changes in the Registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) 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

The certifications required by Rule 30a-2 of the Investment Company Act of 1940, as amended, and Section 302 of the Sarbanes-Oxley Act of 2002 are attached as exhibits hereto.


 
 
 

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.

 
THE GROWTH FUND OF AMERICA, INC.
   
 
By /s/ Paul G. Haaga, Jr.
 
Paul G. Haaga, Jr., Executive Vice President and
Principal Executive Officer
 
   
 
Date: July 29, 2008



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/ Paul G. Haaga, Jr.
Paul G. Haaga, Jr., Executive Vice President and
Principal Executive Officer
 
Date: July 29, 2008



By /s/ Jeffrey P. Regal
Jeffrey P. Regal, Treasurer and
Principal Financial Officer
 
Date: July 29, 2008