N-Q 1 nq043011s2.txt SERIES TWO 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) 1917 Market Street 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 2011 Robert Brody 1917 Market Street Denver, CO 80202 (Name and Address of Agent for Service) Form N-Q is to be used by management investment companies, other than small business investment companies registered on Form N-5 (SS 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than 60 days after the close of the first and third fiscal quarters, pursuant to rule 30b1-5 under the Investment Company Act of 1940 (17 CFR 270.30b1-5). The Commission may use the information provided on Form N-Q in its regulatory, disclosure review, inspection, and policymaking roles. A registrant is required to disclose the information specified by Form N-Q, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-Q unless the Form displays a currently valid Office of Management and Budget ("OMB") control number. Pleasedirect comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. S 3507. --------------------------------------------------------------------------- ITEM 1 - Schedule of Investments American Growth Fund Series Two April 30, 2011 (unaudited) Market Common Stocks 78.35% Shares Value Intergrated Petroleum 8.63% Sasol Ltd ADR 950 $ 54,929 Chevron Corp * 500 54,720 Petrole Brasileiro 1,000 37,330 ----------------------- 146,979 Retail (Special Lines) 3.79% Tiffany & Co 930 64,579 ----------------------- 64,579 Petroleum (Producing) 3.76% Apache Corp. 480 64,018 ----------------------- 64,018 Diversified Electronics 3.69% Corning Inc * 3,000 62,820 ----------------------- 62,820 Hotel/Gaming 3.52% Penn Natl Gaming * 1,500 60,015 ----------------------- 60,015 Internet Information 3.51% Google Inc * 110 59,851 ----------------------- 59,851 Drug 3.44% Novo Nordisk * 460 58,599 ----------------------- 58,599 Houshold Product 3.39% Church & Dwight Co. Inc. * 700 57,736 ----------------------- 57,736 Telecom Equipment 3.34% Qualcomm Inc. * 1,000 56,840 ----------------------- 56,840 Retail/Wholesale Food 3.31% Whole Foods Mkt Inc. 900 56,484 ----------------------- 56,484 Chemical (Basic) 3.31% Potash Corp. 1,000 56,380 ----------------------- 56,380 Chemical (specialty) 3.25% New Market Corp. * 300 55,296 ----------------------- 55,296 Telecom Utility 3.16% Telefonica SA ADR * 2,000 53,920 ----------------------- 53,920 Restaurant 3.15% Yum! Brands Inc. 1,000 53,640 ----------------------- 53,640 Agricultural Chemicals 3.08% Mosaic Co 700 52,402 ----------------------- 52,402 Diversified Machniery 2.85% 3M Com * 500 48,605 ----------------------- 48,605 Independent Oil & Gas 2.76% Canadian Natural Resources 1,000 46,960 ----------------------- 46,960 Steel 2.75% Cliffs Natural Resources * 500 46,860 ----------------------- 46,860 Bank 2.59% M & T Bank Corp. * 500 44,185 ----------------------- 44,185 Bank (Canadian) 2.54% Toronto Dominion Bank 500 43,315 ----------------------- 43,315 Silver 2.38% Silver Whealton Corp 1,000 40,620 ----------------------- 40,620 Biotechnology 2.28% Gilead Sciences Inc. * 1,000 38,840 ----------------------- 38,840 Steel & Iron 1.96% Vale Sa ADR 1,000 33,400 ----------------------- 33,400 Beverage 1.91% Diageo Plc ADR 400 32,548 ----------------------- 32,548 ------------------------- Total Value Common Stocks (Cost $ 1,309,618) 78.35% 1,334,892 Cash and Receivable, less liabilities 21.65% 368,941 ------------------------- Total Net Assets 100.00% 1,703,833 ========================= * Non-income producing security during last 2.25 months Gross Unrealized appreciation on investment securities 42,105 Gross Unrealized depreciation on Investment securities (16,831) ------------------------- Net Unrealized appreciation on Investment securities 25,274 Cost of investment securities for federal income tax purposes 1,309,618 --------------------------------------------------------------------------- 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 20, 2011 By /s/ Timothy E. Taggart Treasurer and CCO May 20, 2011