0000005138 2017-11-30 2017-11-30 0000005138 agfi:S000012125Member 2017-11-30 2017-11-30 0000005138 agfi:S000012125Member agfi:C000033068Member 2017-11-30 2017-11-30 0000005138 agfi:S000012125Member agfi:C000033069Member 2017-11-30 2017-11-30 0000005138 agfi:S000012125Member agfi:C000033070Member 2017-11-30 2017-11-30 0000005138 agfi:S000012125Member agfi:C000033067Member 2017-11-30 2017-11-30 0000005138 agfi:S000012125Member agfi:C000033067Member rr:AfterTaxesOnDistributionsMember 2017-11-30 2017-11-30 0000005138 agfi:S000012125Member agfi:C000033067Member rr:AfterTaxesOnDistributionsAndSalesMember 2017-11-30 2017-11-30 0000005138 agfi:S000012125Member agfi:StandardMember 2017-11-30 2017-11-30 pure 2017-11-30 497 2017-07-31 AMERICAN GROWTH FUND INC 0000005138 false 2018-06-04 2018-06-04 <p align="center" style="margin: 0in 0in 0pt; text-align: center;"><b>American Grown Fund, Inc.</b></p><p align="center" style="margin: 0in 0in 0pt; text-align: center;"><b>American Growth Fund Series One</b></p><p align="center" style="margin: 0in 0in 0pt; text-align: center;"><b></b>&nbsp;</p><p align="center" style="margin: 0in 0in 0pt; text-align: center;"><b>Supplement dated May 21, 2018, to the Prospectus dated November 30, 2017</b></p><p style="margin: 0in 0in 0pt;">&nbsp;</p><p style="margin: 0in 0in 0pt;">This Supplement replaces certain information contained in the Prospectus of American Growth Fund Series One dated November 30, 2017.</p><p style="margin: 0in 0in 0pt;">&nbsp;</p><p style="margin: 0in 0in 0pt;">Effective immediately, the table that follows the bar chart in the section titled &#147;Risk/Return Bar Chart and Table&#148; is deleted and replaced with the following:</p><p style="margin: 0in 0in 0pt;"></p><p style="margin: 0.45pt 0in 0pt;">&nbsp;</p><div align="left"><table style="width: 100.02%;" border="0" cellpadding="0"><tr><td width="25%" style="padding: 0.75pt;"><p style="margin: 0in 0in 0pt;">Average annual total returns for the periods ended December 31, 2016</p></td><td width="25%" style="padding: 0.75pt;"><p style="margin: 0in 0in 0pt;">One Year</p></td><td width="25%" style="padding: 0.75pt;"><p style="margin: 0in 0in 0pt;">Five Years</p></td><td width="25%" style="padding: 0.75pt;"><p style="margin: 0in 0in 0pt;">Ten Years</p></td></tr><tr><td width="25%" style="padding: 0.75pt;">&nbsp;</td><td width="25%" style="padding: 0.75pt;">&nbsp;</td><td width="25%" style="padding: 0.75pt;">&nbsp;</td><td width="25%" style="padding: 0.75pt;">&nbsp;</td></tr><tr><td width="25%" style="padding: 0.75pt;"><p style="margin: 0in 0in 0pt;">Class A Return before taxes*</p></td><td width="25%" style="padding: 0.75pt;"><p style="margin: 0in 0in 0pt;">4.31%</p></td><td width="25%" style="padding: 0.75pt;"><p style="margin: 0in 0in 0pt;">11.75%</p></td><td width="25%" style="padding: 0.75pt;"><p style="margin: 0in 0in 0pt;">2.40%</p></td></tr><tr><td width="25%" style="padding: 0.75pt;"><p style="margin: 0in 0in 0pt;">Class B Return before taxes*</p></td><td width="25%" style="padding: 0.75pt;"><p style="margin: 0in 0in 0pt;">4.94%</p></td><td width="25%" style="padding: 0.75pt;"><p style="margin: 0in 0in 0pt;">12.03%</p></td><td width="25%" style="padding: 0.75pt;"><p style="margin: 0in 0in 0pt;">2.85%**</p></td></tr><tr><td width="25%" style="padding: 0.75pt;"><p style="margin: 0in 0in 0pt;">Class C Return before taxes*</p></td><td width="25%" style="padding: 0.75pt;"><p style="margin: 0in 0in 0pt;">8.76%</p></td><td width="25%" style="padding: 0.75pt;"><p style="margin: 0in 0in 0pt;">12.26%</p></td><td width="25%" style="padding: 0.75pt;"><p style="margin: 0in 0in 0pt;">2.26%</p></td></tr><tr><td width="25%" style="padding: 0.75pt;"><p style="margin: 0in 0in 0pt;">Class D Return before taxes* </p></td><td width="25%" style="padding: 0.75pt;"><p style="margin: 0in 0in 0pt;">4.29%</p></td><td width="25%" style="padding: 0.75pt;"><p style="margin: 0in 0in 0pt;">11.99%</p></td><td width="25%" style="padding: 0.75pt;"><p style="margin: 0in 0in 0pt;">2.71%</p></td></tr><tr><td width="25%" style="padding: 0.75pt;"><p style="margin: 0in 0in 0pt;">Class D Return after taxes on Distributions</p></td><td width="25%" style="padding: 0.75pt;"><p style="margin: 0in 0in 0pt;">4.29%</p></td><td width="25%" style="padding: 0.75pt;"><p style="margin: 0in 0in 0pt;">11.99%</p></td><td width="25%" style="padding: 0.75pt;"><p style="margin: 0in 0in 0pt;">2.71%</p></td></tr><tr><td width="25%" style="padding: 0.75pt;"><p style="margin: 0in 0in 0pt;">Class D Return after taxes on Distributions and Sale of Fund Shares</p></td><td width="25%" style="padding: 0.75pt;"><p style="margin: 0in 0in 0pt;">2.28%</p></td><td width="25%" style="padding: 0.75pt;"><p style="margin: 0in 0in 0pt;">9.82%</p></td><td width="25%" style="padding: 0.75pt;"><p style="margin: 0in 0in 0pt;">2.12%</p></td></tr><tr><td width="25%" style="padding: 0.75pt;"><p style="margin: 0in 0in 0pt;">Standard and Poor&#146;s 500 Index (reflects no deduction for fees expenses, or taxes)</p></td><td width="25%" style="padding: 0.75pt;"><p style="margin: 0in 0in 0pt;">11.96%</p></td><td width="25%" style="padding: 0.75pt;"><p style="margin: 0in 0in 0pt;">14.66%</p></td><td width="25%" style="padding: 0.75pt;"><p style="margin: 0in 0in 0pt;">6.95%</p></td></tr></table></div><p style="margin: 0.2pt 0in 0pt;">&nbsp;</p><p style="margin: 0in 0in 10pt;">* Assumes redemption at end of time period.<br/>** After seven years Class B Shares convert to Class A Shares. The ten year return for Class B reflects the first seven year returns for Class B and the remaining 3 years as Class A.</p>After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes;<br/>Actual after-tax returns depend on an investor&#180;s tax situation and may differ from those shown, and after-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts;<br/>After-tax returns are shown for only Class D and after-tax returns for other Classes will vary. <p align="center" style="margin: 0in 0in 0pt; text-align: center;"><b>American Grown Fund, Inc.</b></p><p align="center" style="margin: 0in 0in 0pt; text-align: center;"><b>American Growth Fund Series One</b></p><p align="center" style="margin: 0in 0in 0pt; text-align: center;"><b></b>&nbsp;</p><p align="center" style="margin: 0in 0in 0pt; text-align: center;"><b>Supplement dated May 21, 2018, to the Prospectus dated November 30, 2017</b></p><p style="margin: 0in 0in 0pt;">&nbsp;</p><p style="margin: 0in 0in 0pt;">This Supplement replaces certain information contained in the Prospectus of American Growth Fund Series One dated November 30, 2017.</p><p style="margin: 0in 0in 0pt;">&nbsp;</p><p style="margin: 0in 0in 0pt;">Effective immediately, the table that follows the bar chart in the section titled &#147;Risk/Return Bar Chart and Table&#148; is deleted and replaced with the following:</p><p style="margin: 0in 0in 0pt;"></p><p style="margin: 0.45pt 0in 0pt;">&nbsp;</p><div align="left"><table style="width: 100.02%;" border="0" cellpadding="0"><tr><td width="25%" style="padding: 0.75pt;"><p style="margin: 0in 0in 0pt;">Average annual total returns for the periods ended December 31, 2016</p></td><td width="25%" style="padding: 0.75pt;"><p style="margin: 0in 0in 0pt;">One Year</p></td><td width="25%" style="padding: 0.75pt;"><p style="margin: 0in 0in 0pt;">Five Years</p></td><td width="25%" style="padding: 0.75pt;"><p style="margin: 0in 0in 0pt;">Ten Years</p></td></tr><tr><td width="25%" style="padding: 0.75pt;">&nbsp;</td><td width="25%" style="padding: 0.75pt;">&nbsp;</td><td width="25%" style="padding: 0.75pt;">&nbsp;</td><td width="25%" style="padding: 0.75pt;">&nbsp;</td></tr><tr><td width="25%" style="padding: 0.75pt;"><p style="margin: 0in 0in 0pt;">Class A Return before taxes*</p></td><td width="25%" style="padding: 0.75pt;"><p style="margin: 0in 0in 0pt;">4.31%</p></td><td width="25%" style="padding: 0.75pt;"><p style="margin: 0in 0in 0pt;">11.75%</p></td><td width="25%" style="padding: 0.75pt;"><p style="margin: 0in 0in 0pt;">2.40%</p></td></tr><tr><td width="25%" style="padding: 0.75pt;"><p style="margin: 0in 0in 0pt;">Class B Return before taxes*</p></td><td width="25%" style="padding: 0.75pt;"><p style="margin: 0in 0in 0pt;">4.94%</p></td><td width="25%" style="padding: 0.75pt;"><p style="margin: 0in 0in 0pt;">12.03%</p></td><td width="25%" style="padding: 0.75pt;"><p style="margin: 0in 0in 0pt;">2.85%**</p></td></tr><tr><td width="25%" style="padding: 0.75pt;"><p style="margin: 0in 0in 0pt;">Class C Return before taxes*</p></td><td width="25%" style="padding: 0.75pt;"><p style="margin: 0in 0in 0pt;">8.76%</p></td><td width="25%" style="padding: 0.75pt;"><p style="margin: 0in 0in 0pt;">12.26%</p></td><td width="25%" style="padding: 0.75pt;"><p style="margin: 0in 0in 0pt;">2.26%</p></td></tr><tr><td width="25%" style="padding: 0.75pt;"><p style="margin: 0in 0in 0pt;">Class D Return before taxes* </p></td><td width="25%" style="padding: 0.75pt;"><p style="margin: 0in 0in 0pt;">4.29%</p></td><td width="25%" style="padding: 0.75pt;"><p style="margin: 0in 0in 0pt;">11.99%</p></td><td width="25%" style="padding: 0.75pt;"><p style="margin: 0in 0in 0pt;">2.71%</p></td></tr><tr><td width="25%" style="padding: 0.75pt;"><p style="margin: 0in 0in 0pt;">Class D Return after taxes on Distributions</p></td><td width="25%" style="padding: 0.75pt;"><p style="margin: 0in 0in 0pt;">4.29%</p></td><td width="25%" style="padding: 0.75pt;"><p style="margin: 0in 0in 0pt;">11.99%</p></td><td width="25%" style="padding: 0.75pt;"><p style="margin: 0in 0in 0pt;">2.71%</p></td></tr><tr><td width="25%" style="padding: 0.75pt;"><p style="margin: 0in 0in 0pt;">Class D Return after taxes on Distributions and Sale of Fund Shares</p></td><td width="25%" style="padding: 0.75pt;"><p style="margin: 0in 0in 0pt;">2.28%</p></td><td width="25%" style="padding: 0.75pt;"><p style="margin: 0in 0in 0pt;">9.82%</p></td><td width="25%" style="padding: 0.75pt;"><p style="margin: 0in 0in 0pt;">2.12%</p></td></tr><tr><td width="25%" style="padding: 0.75pt;"><p style="margin: 0in 0in 0pt;">Standard and Poor&#146;s 500 Index (reflects no deduction for fees expenses, or taxes)</p></td><td width="25%" style="padding: 0.75pt;"><p style="margin: 0in 0in 0pt;">11.96%</p></td><td width="25%" style="padding: 0.75pt;"><p style="margin: 0in 0in 0pt;">14.66%</p></td><td width="25%" style="padding: 0.75pt;"><p style="margin: 0in 0in 0pt;">6.95%</p></td></tr></table></div><p style="margin: 0.2pt 0in 0pt;">&nbsp;</p><p style="margin: 0in 0in 10pt;">* Assumes redemption at end of time period.<br/>** After seven years Class B Shares convert to Class A Shares. The ten year return for Class B reflects the first seven year returns for Class B and the remaining 3 years as Class A.</p>After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes;<br/>Actual after-tax returns depend on an investor&#180;s tax situation and may differ from those shown, and after-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts;<br/>After-tax returns are shown for only Class D and after-tax returns for other Classes will vary. Average annual total returns for the periods ended December 31, 2016 After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes; <br/>Actual after-tax returns depend on an investor&#180;s tax situation and may differ from those shown, and after-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts; <br/>After-tax returns are shown for only Class D and after-tax returns for other Classes will vary. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes; Actual after-tax returns depend on an investor&#180;s tax situation and may differ from those shown, and after-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts; After-tax returns are shown for only Class D and after-tax returns for other Classes will vary. 0.0431 0.1175 0.024 0.0494 0.1203 0.0285 0.0876 0.1226 0.0226 0.0429 0.1199 0.0271 0.0429 0.1199 0.0271 0.0228 0.0982 0.0212 0.1196 0.1466 0.0695 Assumes redemption at end of time period. After seven years Class B Shares convert to Class A Shares. The ten year return for Class B reflects the first seven year returns for Class B and the remaining 3 years as Class A.