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    <filerInfo>
      <liveTestFlag>LIVE</liveTestFlag>
      <filer>
        <issuerCredentials>
          <cik>0000005138</cik>
          <ccc>XXXXXXXX</ccc>
        </issuerCredentials>
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      <investmentCompanyType>N-1A</investmentCompanyType>
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    <seriesClass>
      <reportSeriesClass>
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          <!--Field: Pseudo-Tag; ID: Series Name; Data: AMERICAN GROWTH FUND Series One-->
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            <classId>C000033067</classId>
            <!--Field: Pseudo-Tag; ID: Class Name; Data: SERIES ONE CLASS D-->
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      </reportSeriesClass>
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    <generalInfo reportEndingPeriod="2023-07-31" isReportPeriodLt12="N"/>
    <registrantInfo>
      <registrantFullName>AMERICAN GROWTH FUND INC</registrantFullName>
      <investmentCompFileNo>811-00825</investmentCompFileNo>
      <registrantCik>0000005138</registrantCik>
      <registrantLei>2549000VCV26WP3TLK04</registrantLei>
      <registrantstreet1>1636 Logan St.</registrantstreet1>
      <registrantcity>Denver</registrantcity>
      <registrantzipCode>80203</registrantzipCode>
      <registrantstate>US-CO</registrantstate>
      <registrantcountry>US</registrantcountry>
      <registrantphoneNumber>303-626-0600</registrantphoneNumber>
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        <website webpage="www.americangrowthfund.com"/>
      </websites>
      <locationBooksRecords>
        <locationBooksRecord>
          <officeName>Commonwealth Fund Services, Inc.</officeName>
          <officeAddress1>8730 Stony Point Parkway</officeAddress1>
          <officeAddress2>Stony Point Bldg III Suite 205</officeAddress2>
          <officeCity>Richmond</officeCity>
          <officeStateCountry officeState="US-VA" officeCountry="US"/>
          <officeRecordsZipCode>23235</officeRecordsZipCode>
          <officePhone>804-267-7400</officePhone>
          <booksRecordsDesc>Records relating to the Transfer Agent.</booksRecordsDesc>
        </locationBooksRecord>
        <locationBooksRecord>
          <officeName>World Capital Brokerage, Inc.</officeName>
          <officeAddress1>1636 Logan Street</officeAddress1>
          <officeCity>Denver</officeCity>
          <officeStateCountry officeState="US-CO" officeCountry="US"/>
          <officeRecordsZipCode>80203</officeRecordsZipCode>
          <officePhone>303-626-0631</officePhone>
          <booksRecordsDesc>records relating to the underwriter</booksRecordsDesc>
        </locationBooksRecord>
        <locationBooksRecord>
          <officeName>Investment Research Corporation</officeName>
          <officeAddress1>1636 Logan Street</officeAddress1>
          <officeCity>Denver</officeCity>
          <officeStateCountry officeState="US-CO" officeCountry="US"/>
          <officeRecordsZipCode>80203</officeRecordsZipCode>
          <officePhone>303-626-0634</officePhone>
          <booksRecordsDesc>Records relating to the Investment Advisor.</booksRecordsDesc>
        </locationBooksRecord>
        <locationBooksRecord>
          <officeName>American Growth Fund, Inc.</officeName>
          <officeAddress1>1636 Logan Street</officeAddress1>
          <officeCity>Denver</officeCity>
          <officeStateCountry officeState="US-CO" officeCountry="US"/>
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          <officePhone>303-626-0600</officePhone>
          <booksRecordsDesc>General records including corporate records</booksRecordsDesc>
        </locationBooksRecord>
        <locationBooksRecord>
          <officeName>UMB Bank NA</officeName>
          <officeAddress1>928 Grand Blvd</officeAddress1>
          <officeAddress2>Fifth Floor</officeAddress2>
          <officeCity>Kansas City</officeCity>
          <officeStateCountry officeState="US-MO" officeCountry="US"/>
          <officeRecordsZipCode>64106</officeRecordsZipCode>
          <officePhone>888-844-3350</officePhone>
          <booksRecordsDesc>records relating to the custodian</booksRecordsDesc>
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      <isRegistrantLastFiling>N</isRegistrantLastFiling>
      <isRegistrantFamilyInvComp>N</isRegistrantFamilyInvComp>
      <registrantClassificationType>N-1A</registrantClassificationType>
      <totalSeries>1</totalSeries>
      <terminatedSeries>
        <terminatedSeriesInfo seriesName="American Growth Cannabis Fund" seriesId="S000030968" terminationDate="11/2022"/>
      </terminatedSeries>
      <isSecuritiesActRegistration>Y</isSecuritiesActRegistration>
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          <directorName>Timothy E. Taggart</directorName>
          <crdNumber>001075525</crdNumber>
          <isDirectorInterestedPerson>Y</isDirectorInterestedPerson>
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            <fileNumberInfo fileNumber="811-000825"/>
          </fileNumbers>
        </director>
        <director>
          <directorName>Eddie R. Bush</directorName>
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        <director>
          <directorName>Darrell Bush</directorName>
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            <fileNumberInfo fileNumber="811-00825"/>
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      </directors>
      <chiefComplianceOfficers>
        <chiefComplianceOfficer>
          <ccoName>Michael L. Gaughan</ccoName>
          <crdNumber>002915597</crdNumber>
          <ccoStreet1>315 West 20th Street</ccoStreet1>
          <ccoCity>Scottsbluff</ccoCity>
          <ccoStateCountry ccoState="US-NE" ccoCountry="US"/>
          <ccoZipCode>69361</ccoZipCode>
          <ccoPhone>XXXXXX</ccoPhone>
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          <ccoEmployers>
            <ccoEmployer ccoEmployerName="N/A" ccoEmployerId="N/A"/>
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        </chiefComplianceOfficer>
      </chiefComplianceOfficers>
      <isRegistrantSubmittedMatter>N</isRegistrantSubmittedMatter>
      <isPreviousLegalProceeding>N</isPreviousLegalProceeding>
      <isPreviousProceedingTerminated>N</isPreviousProceedingTerminated>
      <isClaimFiled>N</isClaimFiled>
      <coveredByInsurancePolicy isCoveredByInsurancePolicy="Y" isClaimFiledDuringPeriod="N"/>
      <isFinancialSupportDuringPeriod>N</isFinancialSupportDuringPeriod>
      <isExemptionFromAct>N</isExemptionFromAct>
      <principalUnderwriters>
        <principalUnderwriter>
          <principalUnderwriterName>World Capital Brokerage, Inc.</principalUnderwriterName>
          <principalUnderwriterFileNumber>008-06805</principalUnderwriterFileNumber>
          <principalUnderwriterCrdNumber>000000037</principalUnderwriterCrdNumber>
          <principalUnderwriterLei>N/A</principalUnderwriterLei>
          <principalUnderWriterStateCountry principalUnderWriterState="US-CO" principalUnderWriterCountry="US"/>
          <isPrincipalUnderwriterAffiliatedWithRegistrant>Y</isPrincipalUnderwriterAffiliatedWithRegistrant>
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      <isUnderwriterHiredOrTerminated>N</isUnderwriterHiredOrTerminated>
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        <publicAccountant>
          <publicAccountantName>Sanville &amp; Company</publicAccountantName>
          <pcaobNumber>169</pcaobNumber>
          <publicAccountantLei>N/A</publicAccountantLei>
          <publicAccountantStateCountry publicAccountantState="US-TX" publicAccountantCountry="US"/>
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      </publicAccountants>
      <isPublicAccountantChanged>Y</isPublicAccountantChanged>
      <isMaterialWeakness>N</isMaterialWeakness>
      <isOpinionOffered>N</isOpinionOffered>
      <isMaterialChange>N</isMaterialChange>
      <isAccountingPrincipleChange>N</isAccountingPrincipleChange>
      <isPaymentErrorInNetAssetValue>N</isPaymentErrorInNetAssetValue>
      <isPaymentDividend>N</isPaymentDividend>
    </registrantInfo>
    <managementInvestmentQuestionSeriesInfo>
      <managementInvestmentQuestion>
        <mgmtInvFundName>Series One</mgmtInvFundName>
        <mgmtInvSeriesId>S000012125</mgmtInvSeriesId>
        <mgmtInvLei>2549000VCV26WP3TLK04</mgmtInvLei>
        <isFirstFilingByFund>N</isFirstFilingByFund>
        <numAuthorizedClass>4</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="Class D" sharesOutstandingClassId="C000033067" sharesOutstandingTickerSymbol="AMRGX"/>
          <sharesOutstanding sharesOutstandingClassName="Class A" sharesOutstandingClassId="C000033068" sharesOutstandingTickerSymbol="AMRAX"/>
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          <sharesOutstanding sharesOutstandingClassName="Class C" sharesOutstandingClassId="C000033070" sharesOutstandingTickerSymbol="AMRCX"/>
        </sharesOutstandings>
        <fundType>N/A</fundType>
        <isNonDiversifiedCompany>N</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <didFundLendSecurities>N</didFundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>N/A</securitiesAgentName>
            <securitiesAgentLei>N/A</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>N</isSecuritiesAgentAffiliated>
            <isSecurityAgentIdemnity>N</isSecurityAgentIdemnity>
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        </securityLendings>
        <collateralManagers>
          <collateralManager collateralManagerName="N/A" collateralManagerLei="N/A" isCollateralManagerAffliliated="N" isCollateralManagerAffliliatedWithFund="N"/>
        </collateralManagers>
        <paymentToAgentManagerType>N/A</paymentToAgentManagerType>
        <avgPortfolioSecuritiesValue>N/A</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>N/A</netIncomeSecuritiesLending>
        <relyOnRuleType>N/A</relyOnRuleType>
        <isExpenseLimitationInPlace>N</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>N</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>Investment Research Corporation</investmentAdviserName>
            <investmentAdviserFileNo>801-08599</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000108208</investmentAdviserCrdNo>
            <investmentAdviserLei>N/A</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-CO" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>COMMONWEALTH FUND SERVICES INC /TA</transferAgentName>
            <transferAgentFileNo>084-01553</transferAgentFileNo>
            <transferAgentLei>N/A</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-VA" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>Investment Research Corporation</pricingServiceName>
            <pricingServiceLei>N/A</pricingServiceLei>
            <pricingServiceIdNumberDesc>084-01553</pricingServiceIdNumberDesc>
            <pricingServiceStateCountry pricingServiceState="US-CO" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>Y</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>UMB Bank NA Investment Services Group</custodianName>
            <custodianLei>N/A</custodianLei>
            <custodianStateCountry custodianState="US-CO" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <shareholderServicingAgents>
          <shareholderServicingAgent>
            <shareholderServiceAgentName>COMMONWEALTH FUND SERVICES INC /TA</shareholderServiceAgentName>
            <shareholderServiceAgentLei>084-01553</shareholderServiceAgentLei>
            <shareholderServiceIdNumberDesc>SEC File No.</shareholderServiceIdNumberDesc>
            <shareholderServiceAgentStateCountry shareholderServiceAgentState="US-VA" shareholderServiceAgentCountry="US"/>
            <isShareholderServiceAgentAffiliated>N</isShareholderServiceAgentAffiliated>
            <isShareholderServiceAgentSubshare>N</isShareholderServiceAgentSubshare>
          </shareholderServicingAgent>
        </shareholderServicingAgents>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>World Capital Brokerage, Inc.</brokerDealerName>
            <brokerDealerFileNo>008-06805</brokerDealerFileNo>
            <brokerDealerCrdNo>000000037</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-CO" brokerDealerCountry="US"/>
            <brokerDealerCommission>114</brokerDealerCommission>
          </brokerDealer>
        </brokerDealers>
        <brokers>
          <broker>
            <brokerName>World Capital Brokerage, Inc.</brokerName>
            <brokerFileNo>008-06805</brokerFileNo>
            <brokerCrdNo>000000037</brokerCrdNo>
            <brokerLei>N/A</brokerLei>
            <brokerStateCountry brokerState="US-CO" brokerCountry="US"/>
            <grossCommission>0</grossCommission>
          </broker>
        </brokers>
        <aggregateCommission>114</aggregateCommission>
        <principalAggregatePurchase>0.00</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>16824820.70</mnthlyAvgNetAssets>
        <hasLineOfCredit>N</hasLineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
        <isSwingPricing>N</isSwingPricing>
      </managementInvestmentQuestion>
    </managementInvestmentQuestionSeriesInfo>
    <attachmentsTab>
      <isLegalProceedings>false</isLegalProceedings>
      <isProvisionFinancialSupport>false</isProvisionFinancialSupport>
      <isIPAReportInternalControl>true</isIPAReportInternalControl>
      <isChangeAccPrinciples>false</isChangeAccPrinciples>
      <isInfoRequiredEO>false</isInfoRequiredEO>
      <isOtherInfoRequired>false</isOtherInfoRequired>
    </attachmentsTab>
    <signature registrantSignedName="AMERICAN GROWTH FUND INC" signedDate="2023-10-05" signature="Michael L. Gaughan" title="CCO"/>
  </formData>
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