N-Q 1 nq043010.txt FORM NQ UNITED STATES SECURITY 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: 811-825 American Growth Fund, Inc. (exact name of registrant as specified in charter) 110 16th Street, Suite 1400 Denver, Colorado 80202 (address of principal executive offices) (zip code) Registrants telephone number, including area code (303) 626-0600 Date of Fiscal Year End: July 31 Date of reporting period: April 30, 2010 Robert Brody 110 16th Street, Suite 1400 Denver, CO 80202 (Name and Address of Agent for Service) --------------------------------------------------------------------------- ITEM 1 - Schedule of Investments American Growth Fund April 30, 2010 (unaudited) Market Common Stocks 99.51% Shares Value Computer & Peripherals 41.47% Hewlett 87,760 4,560,887 Cisco * 68,200 1,835,944 EMC corp. * 68,000 1,292,680 ------------------------- 7,689,511 Biotechnology 12.69% Amgen Inc.* 41,020 2,352,907 ------------------------- 2,352,907 Drug 9.30% Cephalon Inc.* 26,850 1,723,770 ------------------------- 1,723,770 Semiconductor 6.75% Intel Corp. 54,800 1,251,084 ------------------------- 1,251,084 Phamacy Services 4.79% Walgreen Co. 25,250 887,537 ------------------------- 887,537 Diversified Co. 4.64% General Electric Co 38,600 727,996 Chemed Corp. 2,400 132,024 ------------------------- 860,020 Wireless Networking Industry 3.61% Network Appliance * 19,250 667,398 ------------------------- 667,398 Insurance Industry 3.27% AXA ADS. 31,624 605,916 ------------------------- 605,916 Beverage 2.76% Central European * 14,800 512,820 ------------------------- 512,820 ENTERTAINMENT 2.24% Time Warner, Inc. 12,533 414,592 ------------------------- 414,592 Railroad 2.03% Kansas City Southern * 9,300 377,115 ------------------------- 377,115 Machinery 1.50% Flowserve Corp. 1,370 156,975 Middleby Corp * 2,000 122,240 ------------------------- 279,215 Semiconductor Cap. Equip. 1.43% Teradyne Inc. * 21,700 265,391 ------------------------- 265,391 Computer Software & Svcs 1.19% Fair, Isaac Corp. 10,500 221,130 ------------------------- 221,130 Cable TV 0.86% Time Warner Cable 2,846 160,088 ------------------------- 160,088 Hotel/Gaming 0.53% Scientific Games Corp. * 6,700 98,557 ------------------------- 98,557 Air Transport 0.30% Jetblue Airway * 10,000 55,900 ------------------------- 55,900 Internet Information Prociders 0.15% AOL, Inc. * 1,212 28,312 ------------------------- 28,312 Total Value Common Stocks (cost $23,381,176) 99.51% 18,451,263 Cash and Receivable, Less Liabilities 0.49% 91,314 ------------------------- Net Assets 100.00% 18,542,577 ========================= * Non-income producing security during last 12 months Gross Unrealized appreciation on Investment securities 4,006,734 Gross Unrealized depreciation on Investment securities (8,936,647) ------------ Net Unrealized depreciation on Investment securities (4,929,913) Cost of invesment securities for federal income tax purposes 23,381,176 --------------------------------------------------------------------------- ITEM 2 - Controls and Procedures The Registrants Principal Executive Officer and Principal Financial Officer have concluded, based on their evaluation of the Registrants 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 Registrants internal controls over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) that occurred during the Registrants last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the Registrants internal controls 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. American Growth Fund By /s/ Robert Brody President May 12, 2010 By /s/ Timothy E. Taggart Treasurer and CCO May 12, 2010