ITEM 1 - Schedule of Investments
American Growth Fund Series 2
October 31, 2012
(unaudited)
Market
Common Stocks 99.20% Shares Value
Intergrated Petroleum 7.51%
Chevron Corp 900 99,189
Petrole Brasileiro 3,000 63,630
----------------------
162,819
Chemical (specialty) 6.25%
New Market Corp. 500 135,655
----------------------
135,655
Retail/Wholesale Food 5.24%
Whole Foods Mkt Inc. 1,200 113,676
----------------------
113,676
Drug 5.17%
Novo Nordisk 700 112,203
----------------------
112,203
Bank 4.80%
M & T Bank Corp. 1,000 104,100
----------------------
104,100
Internet Information 4.70%
Google Inc * 150 101,966
----------------------
101,966
Biotechnology 4.64%
Gilead Sciences Inc. * 1,500 100,740
----------------------
100,740
Phamacy Services 4.25%
Express Scripts Inc. * 1,500 92,310
----------------------
92,310
Beverage 4.21%
Diageo Plc ADR 800 91,392
----------------------
91,392
Farm & Construction Machinery 3.94%
Deere & Co. 1,000 85,440
----------------------
85,440
Restaurant 3.88%
YUM! Brands Inc. 1,200 84,132
----------------------
84,132
Credit Services 3.76%
Credit Acceptance Corp. * 1,000 81,650
----------------------
81,650
Bank (Canadian) 3.75%
Toronto Dominion Bank 1,000 81,340
----------------------
81,340
Hotel/Gaming 3.73%
Penn Natl Gaming * 2,000 80,860
----------------------
80,860
Chemical (Basic) 3.72%
Potash Corp. 2,000 80,740
----------------------
80,740
Agricultural Chemicals 3.62%
Mosaic Co 1,500 78,510
----------------------
78,510
Auto 3.60%
Ford Motor 7,000 78,120
----------------------
78,120
Houshold Product 3.51%
Church & Dwight Co. Inc. 1,500 76,140
----------------------
76,140
Telecom Equipment 3.24%
Qualcomm Inc. 1,200 70,290
----------------------
70,290
Jewelry Stores 2.91%
Tiffany & Co. 1,000 63,220
----------------------
63,220
Diversified Machniery 2.83%
3M Com 700 61,320
----------------------
61,320
Independent Oil & Gas 2.78%
Canadian Natural Resources 2,000 60,400
----------------------
60,400
Personal Computer 2.74%
Apple Inc Com 100 59,510
----------------------
59,510
Steel 2.51%
Cliffs Natural Resources 1,500 54,405
----------------------
54,405
Petroleum (Producing) 1.91%
Apache Corp. 500 41,375
----------------------
41,375
Total Value Common Stocks 99.20% 2,152,313
Cash and Receivable, less liabilities 0.80% 17,272
----------------------
Total Net Assets 100.00% 2,169,585
======================
* Non-income producing security during last 12 months
Gross Unrealized appreciation on investment securities 303,409
Gross Unrealized deppreicaition on investment securities (238,857)
Net Unrealized deppreciation on investment securities 64,552
Cost of investment securities for federal income tax
purposes 2,087,761
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