<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/nport" xmlns:com="http://www.sec.gov/edgar/common" xmlns:iso="http://www.sec.gov/edgar/iso_statecodes" xmlns:ncom="http://www.sec.gov/edgar/nportcommon" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
  <headerData>
    <submissionType>NPORT-P</submissionType>
    <isConfidential>false</isConfidential>
    <filerInfo>

      <filer>
        <issuerCredentials>
          <cik>0000005138</cik>
          <ccc>XXXXXXXX</ccc>
        </issuerCredentials>
      </filer>


      <seriesClassInfo>
        <seriesId>S000030968</seriesId>
        <classId>C000096005</classId>
      </seriesClassInfo>

    </filerInfo>
  </headerData>
  <formData>
    <genInfo>
      <regName>AMERICAN GROWTH FUND INC</regName>
      <regFileNumber>811-00825</regFileNumber>
      <regCik>0000005138</regCik>
      <regLei>2549000VCV26WP3TLK04</regLei>
      <regStreet1>1636 Logan Street</regStreet1>
      <regCity>Denver</regCity>
      <regStateConditional regCountry="US" regState="US-CO"/>
      <regZipOrPostalCode>80203</regZipOrPostalCode>
      <regPhone>303-626-0600</regPhone>
      <seriesName>AMERICAN GROWTH FUND American Growth Cannabis Fund</seriesName>
      <seriesId>S000030968</seriesId>
      <seriesLei>00000000000000000000</seriesLei>
      <repPdEnd>2022-07-31</repPdEnd>
      <repPdDate>2022-07-31</repPdDate>
      <isFinalFiling>N</isFinalFiling>
    </genInfo>
    <fundInfo>
      <totAssets>211418.00</totAssets>
      <totLiabs>104.00</totLiabs>
      <netAssets>211314.00</netAssets>
      <assetsAttrMiscSec>0</assetsAttrMiscSec>
      <assetsInvested>0</assetsInvested>
      <amtPayOneYrBanksBorr>0</amtPayOneYrBanksBorr>
      <amtPayOneYrCtrldComp>0</amtPayOneYrCtrldComp>
      <amtPayOneYrOthAffil>0</amtPayOneYrOthAffil>
      <amtPayOneYrOther>0</amtPayOneYrOther>
      <amtPayAftOneYrBanksBorr>0</amtPayAftOneYrBanksBorr>
      <amtPayAftOneYrCtrldComp>0</amtPayAftOneYrCtrldComp>
      <amtPayAftOneYrOthAffil>0</amtPayAftOneYrOthAffil>
      <amtPayAftOneYrOther>0</amtPayAftOneYrOther>
      <delayDeliv>0</delayDeliv>
      <standByCommit>0</standByCommit>
      <liquidPref>0</liquidPref>
      <cshNotRptdInCorD>0</cshNotRptdInCorD>
      <isNonCashCollateral>N</isNonCashCollateral>
      <returnInfo>
        <monthlyTotReturns>
          <monthlyTotReturn classId="C000096005" rtn1="0.00" rtn2="-0.1628" rtn3="-0.0851"/>
        </monthlyTotReturns>
        <othMon1 netRealizedGain="0.02" netUnrealizedAppr="3069.11"/>
        <othMon2 netRealizedGain="0" netUnrealizedAppr="-37744.39"/>
        <othMon3 netRealizedGain="0" netUnrealizedAppr="-23976.43"/>
      </returnInfo>
      <mon1Flow redemption="-111.69" reinvestment="0" sales="0"/>
      <mon2Flow redemption="-5.05" reinvestment="0" sales="794.71"/>
      <mon3Flow redemption="-21401.22" reinvestment="0" sales="225"/>

    </fundInfo>
    <invstOrSecs>
      <invstOrSec>
        <name>Amplify Seymour Cannabis ETF</name>
        <lei>549300YQGFP4GV6EUN53</lei>
        <title>Amplify Seymour Cannabis ETF</title>
        <cusip>032108854</cusip>
        <identifiers>
          <isin value="US0321088546"/>
          <ticker value="CNBS"/>
        </identifiers>
        <balance>1270</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9029.70</valUSD>
        <pctVal>0.0425</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AURORA CANNABIS INC</name>
        <lei>549300F6VHCLKCUWDT34</lei>
        <title>AURORA CANNABIS INC</title>
        <cusip>05156X884</cusip>
        <identifiers>
          <isin value="CA05156X8843"/>
          <ticker value="ACB"/>
        </identifiers>
        <balance>3811</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5373.51</valUSD>
        <pctVal>0.0253</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CANOPY GROWTH CORP</name>
        <lei>529900CSD7NH1UBC9X07</lei>
        <title>CANOPY GROWTH CORP</title>
        <cusip>138035100</cusip>
        <identifiers>
          <isin value="CA1380351009"/>
          <ticker value="CGC"/>
        </identifiers>
        <balance>1313</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3453.19</valUSD>
        <pctVal>0.0163</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>cbdMD, Inc.</name>
        <lei>N/A</lei>
        <title>cbdMD, Inc.</title>
        <cusip>12482W101</cusip>
        <identifiers>
          <isin value="US12482W1018"/>
          <ticker value="YCBD"/>
        </identifiers>
        <balance>9648</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4632.00</valUSD>
        <pctVal>0.0218</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GrowGeneration Corp.</name>
        <lei>N/A</lei>
        <title>GrowGeneration Corp.</title>
        <cusip>39986L109</cusip>
        <identifiers>
          <isin value="US39986L1098"/>
          <ticker value="GRWG"/>
        </identifiers>
        <balance>770</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3734.50</valUSD>
        <pctVal>0.0176</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HEXO CORP COM</name>
        <lei>529900NCXLID5EDY2E78</lei>
        <title>HEXO CORP COM</title>
        <cusip>428304307</cusip>
        <identifiers>
          <isin value="CA4283041097"/>
          <ticker value="HEXO"/>
        </identifiers>
        <balance>6080</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1134.53</valUSD>
        <pctVal>0.0053</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Innovative Industrial Properties Inc.</name>
        <lei>5493008BQ0545EZXRR30</lei>
        <title>Innovative Industrial Properties Inc.</title>
        <cusip>45781V101</cusip>
        <identifiers>
          <isin value="US45781V1017"/>
          <ticker value="IIPR"/>
        </identifiers>
        <balance>160</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>15425.60</valUSD>
        <pctVal>0.0726</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Lifeist Wellness Inc</name>
        <lei>52990075EOPRFYZVVK62</lei>
        <title>Lifeist Wellness Inc</title>
        <cusip>53228D106</cusip>
        <identifiers>
          <isin value="US53228D1063"/>
          <ticker value="NXTTF"/>
        </identifiers>
        <balance>325055</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12027.04</valUSD>
        <pctVal>0.0566</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Neptune Wellness Solutions Inc.</name>
        <lei>N/A</lei>
        <title>Neptune Wellness Solutions Inc.</title>
        <cusip>64079L105</cusip>
        <identifiers>
          <isin value="US64079L1052"/>
          <ticker value="NEPT"/>
        </identifiers>
        <balance>886</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1010.04</valUSD>
        <pctVal>0.0048</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ORGANIGRAM HOLDINGS INC</name>
        <lei>N/A</lei>
        <title>ORGANIGRAM HOLDINGS INC</title>
        <cusip>68620P101</cusip>
        <identifiers>
          <isin value="CAS68620P101"/>
          <ticker value="OGI"/>
        </identifiers>
        <balance>12034</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12876.38</valUSD>
        <pctVal>0.0606</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Power REIT</name>
        <lei>549300GLI9IPZRYGFI71</lei>
        <title>Power REIT</title>
        <cusip>73933H101</cusip>
        <identifiers>
          <isin value="US73933H1014"/>
          <ticker value="PW"/>
        </identifiers>
        <balance>520</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8028.80</valUSD>
        <pctVal>0.0378</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SNDL Inc.</name>
        <lei>549300O3OT13PHMLHI97</lei>
        <title>SNDL Inc.</title>
        <cusip>83307B101</cusip>
        <identifiers>
          <isin value="US83307B1017"/>
          <ticker value="SNDL"/>
        </identifiers>
        <balance>3319.3</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7468.42</valUSD>
        <pctVal>0.0352</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>The Valens Company Inc.</name>
        <lei>N/A</lei>
        <title>The Valens Company Inc.</title>
        <cusip>91914P603</cusip>
        <identifiers>
          <isin value="CA91914P6030"/>
          <ticker value="VLNS"/>
        </identifiers>
        <balance>13800</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10685.34</valUSD>
        <pctVal>0.0503</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TILRAY BRANDS INC COM</name>
        <lei>549300Y4V60733TO1478</lei>
        <title>TILRAY BRANDS INC COM</title>
        <cusip>88688T100</cusip>
        <identifiers>
          <isin value="US88688T1007"/>
          <ticker value="TLRY"/>
        </identifiers>
        <balance>2061</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7522.65</valUSD>
        <pctVal>0.0354</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Village Farms Intl Inc Com</name>
        <lei>529900TR69X5FFZ6K955</lei>
        <title>Village Farms Intl Inc Com</title>
        <cusip>92707Y108</cusip>
        <identifiers>
          <isin value="US92707Y1082"/>
          <ticker value="VFF"/>
        </identifiers>
        <balance>320</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>960.00</valUSD>
        <pctVal>0.0045</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2022-09-29</ncom:dateSigned>
      <ncom:nameOfApplicant>AMERICAN GROWTH FUND INC</ncom:nameOfApplicant>
      <ncom:signature>/s/ Timothy E. Taggart</ncom:signature>
      <ncom:signerName>Timothy E. Taggart</ncom:signerName>
      <ncom:title>President</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
