ICA
THE INVESTMENT COMPANY OF AMERICA
Quarterly Report
For the nine months ended September 30, 1996
[The American Funds Group (R)]
FELLOW SHAREHOLDERS:
We are pleased to provide this summary of The Investment Company of America's
portfolio as of September 30, 1996. Along with this report, we have enclosed
information about the fund's dividend and year-end capital gain distribution.
PORTFOLIO SUMMARY - September 30, 1996
PERCENT OF
INVESTMENT MIX NET ASSETS
Equities 88.32%
U.S. Treasury Bonds and Notes 3.39
Cash and Equivalents 8.29
Total 100.00%
NUMBER OF PERCENT OF
FIVE LARGEST INDUSTRY HOLDINGS COMPANIES NET ASSETS
IN EQUITIES
Banking 23 9.93%
Energy Sources 14 7.34
Health & Personal Care 15 7.28
Telecommunications 10 5.69
Beverages & Tobacco 5 5.34
PERCENT OF
TEN LARGEST STOCKS NET ASSETS
Philip Morris 3.23%
Federal National Mortgage Assn. 2.88
Royal Dutch Petroleum 2.03
AT&T 1.87
Wal-Mart Stores 1.87
Caterpillar 1.68
DuPont 1.65
Pfizer 1.31
Time Warner 1.21
Walt Disney 1.21
ICA's complete portfolio will appear in the fund's annual report scheduled to
be mailed to you in late February 1997. We look forward to reporting to you
again at that time.
Cordially,
[/s/ William C. Newton]
William C. Newton
President
December 16, 1996
ICA(sm)
THE INVESTMENT COMPANY OF AMERICA(R) SEEKS LONG-TERM GROWTH OF CAPITAL AND
INCOME, PLACING GREATER EMPHASIS ON FUTURE DIVIDENDS THAN ON CURRENT INCOME.
SHARE PRICE AND RETURN WILL VARY, SO YOU MAY LOSE MONEY BY INVESTING IN THE
FUND. THE SHORTER THE TIME PERIOD OF YOUR INVESTMENT, THE GREATER THE
POSSIBILITY OF LOSS. FUND SHARES ARE NOT DEPOSITS OR OBLIGATIONS OF, OR INSURED
OR GUARANTEED BY, THE U.S. GOVERNMENT, ANY FINANCIAL INSTITUTION, THE FEDERAL
DEPOSIT INSURANCE CORPORATION, OR ANY OTHER AGENCY, ENTITY OR PERSON.
FOR INFORMATION ABOUT YOUR ACCOUNT OR ANY OF THE FUND'S SERVICES, PLEASE
CONTACT YOUR FINANCIAL ADVISER OR CALL AMERICAN FUNDS SERVICE COMPANY,
TOLL-FREE, AT 800/421-0180.
This report is for the information of shareholders of The Investment Company of
America, but it may also be used as sales literature when preceded or
accompanied by the current prospectus, which gives details about charges,
expenses, investment objectives and operating policies of the fund.
Litho in USA CMG/ALI/3150
(C)1996 American Funds Distributors, Inc.
Lit. No. ICA-012-1296
Printed on recycled paper
