<?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>
        <classId>C000096006</classId>
      </seriesClassInfo>

    </filerInfo>
  </headerData>
  <formData>
    <genInfo>
      <regName>AMERICAN GROWTH FUND INC</regName>
      <regFileNumber>811-00825</regFileNumber>
      <regCik>0000005138</regCik>
      <regLei>00000000000000000000</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>2023-07-31</repPdEnd>
      <repPdDate>2022-10-31</repPdDate>
      <isFinalFiling>N</isFinalFiling>
    </genInfo>
    <fundInfo>
      <totAssets>171909.74</totAssets>
      <totLiabs>882.45</totLiabs>
      <netAssets>171027.29</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="9.09" rtn2="-13.16" rtn3="5.56"/>
          <monthlyTotReturn classId="C000096006" rtn1="0.00" rtn2="0.00" rtn3="0.00"/>
        </monthlyTotReturns>
        <othMon1 netRealizedGain="0.00" netUnrealizedAppr="17535.68"/>
        <othMon2 netRealizedGain="0.00" netUnrealizedAppr="-20451.08"/>
        <othMon3 netRealizedGain="0.00" netUnrealizedAppr="-11726.49"/>
      </returnInfo>
      <mon1Flow redemption="-31777.90" reinvestment="0.00" sales="200.00"/>
      <mon2Flow redemption="273.08" reinvestment="0.00" sales="200.00"/>
      <mon3Flow redemption="-4650.27" reinvestment="0.00" sales="100.24"/>

    </fundInfo>
    <invstOrSecs>
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        <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>8761.73</valUSD>
        <pctVal>0.0512</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>5449.73</valUSD>
        <pctVal>0.0319</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>4897.49</valUSD>
        <pctVal>0.0286</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>3183.84</valUSD>
        <pctVal>0.0186</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>2748.90</valUSD>
        <pctVal>0.0161</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>1167.36</valUSD>
        <pctVal>0.0068</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>17296.00</valUSD>
        <pctVal>0.1011</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>22753.85</valUSD>
        <pctVal>0.1330</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>1134.08</valUSD>
        <pctVal>0.0066</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>12274.68</valUSD>
        <pctVal>0.0718</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>4550.00</valUSD>
        <pctVal>0.0266</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>8165.48</valUSD>
        <pctVal>0.0477</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>10710.18</valUSD>
        <pctVal>0.0626</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>8388.27</valUSD>
        <pctVal>0.0490</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>691.20</valUSD>
        <pctVal>0.0040</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>2022-12-29</ncom:dateSigned>
      <ncom:nameOfApplicant>American Growth Fund, Inc.</ncom:nameOfApplicant>
      <ncom:signature>Timothy E. Taggart</ncom:signature>
      <ncom:signerName>/s/ Timothy E. Taggart</ncom:signerName>
      <ncom:title>President</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
