IDS Stock Fund
1994 semiannual report
(icon of) building with columns
The goals of IDS Stock Fund, Inc. are current income and growth of
capital. The fund invests primarily in common stocks and securities
convertible into common stock.
Distributed by IDS Financial Services Inc.
IDS
An American Express company
AMERICAN
EXPRESS<PAGE>
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(icon of) building with columns
Big names, big business
These are the names you know. They are the movers and shakers of today's
business world. Whether representing established U.S. firms or companies
that have made their mark over-seas, the securities found in IDS Stock
Fund make up a veritable who's who in the financial market place. These
stocks offer a dual benefit of ongoing growth potential along with a
steady stream of dividend income. And as we move toward a more global
economy, these blue chip, multi-national companies are well-positioned
to prosper in the 21st century.
Contents
From the president 3
From the portfolio manager 3
Ten largest holdings 5
Financial statements 6
Notes to financial statements 9
Investments in securities 19
Directors and officers 24
IDS mutual funds 25
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To our shareholders
(Picture of William Pearce)
William R. Pearce
President of the fund
From the president
As you read this semiannual report, you'll find that it complements the
newly designed annual report you received six months ago. We hope the
substantial changes we've made to the design and organization will help
make information easier to find and understand.
A good place to begin is with the portfolio manager's letter, which
describes the events and investment strategies that most influenced the
fund's performance during the past period.
For a broader financial perspective, please consult your IDS planner, who
can help you make sure your investment and protection strategies continue
to meet the objectives in your financial plan.
Sincerely,
William R. Pearce<PAGE>
PAGE
(picture of Joe Barsky)
Portfolio manager
From the portfolio manager
Solid stock-picking and well-timed portfolio shifts allowed IDS Stock
Fund to weather a volatile investment environment and show a positive
return for the six-month period ended April 30, 1994. In the process,
the fund outperformed the market as a whole, based on the Standard &
Poor's 500 Stock Index (an unmanaged list of larger stocks commonly
used to measure market performance.)
The period proved to be a difficult one because many stock groups that
did well in the first few months quickly fell out of favor, while
others that started poorly rebounded well later on. These rapid
shifts in the market required considerable nimbleness on our part in
managing the portfolio.
Foreign stocks provide boost
A good example was provided by the Hong Kong and the Mexican markets,
which experienced huge gains during 1993, only to fall off sharply in
the first few months of this year. Fortunately, we decided to begin
shedding our holdings in Hong Kong while this market was near its top.
We applied the same strategy to Mexico, with similar success. In the
latter case, however, we have been selectively adding to our holdings.
The same is true for Chile and Argentina. Foreign holdings have recently
accounted for approximately 20% of the portfolio, and we plan to retain
this position in the months ahead.
Back home, we focused early in the period on so called "cyclical" stocks
- -- those that benefit from an improving economy. Those stocks did quite
well for a time, but, along with the overall market, stumbled later in
the period when interest rates began rising. In fact, the stock market
fell more that 7% during February and March.
Few sectors performed well throughout the entire period, but two
exceptions were health-care services (primarily health-management
organizations) and aerospace. The portfolio had exposure to both
groups. We also managed to select productive stocks in the following
sectors: banks, chemicals, industrial machinery, building materials
and retailing. We remained nearly fully invested throughout the six
months, with cash levels around 11%.
The fund also continues to hold both convertible preferred stocks and
bonds and real estate investment trusts (known as REITS), which provide
substantial yields that help offset possible price volatility.
Steady economy should help stocks
Although we expect the economy to grow at a steady pace, we don't foresee
inflation becoming a problem. In this type of environment, we expect
stocks, particularly cyclicals, to do well. Thus, we plan to selectively
add to our cyclical holdings.
We are also considering adding to our retailing and consumer-oriented
stocks, such as those of food companies. Our strategy for the near term
probably will include holding a blend of growth and value stocks in the
portfolio.
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From the portfolio manager (continued)
As we have noted before, we feel it is unwise to make substantial changes
in long-term strategies based on short-term events. Rather, we plan to
continue to focus on the long-term objectives of the fund: price
appreciation combined with a reasonable level of income.
Joe Barsky
6-month performance
(All figures per share)
Net asset value (NAV)
___________________________
April 30, 1994 $19.10
___________________________
Oct. 31, 1993 $21.24
___________________________
Decrease $ 2.14
___________________________
Distributions
Nov. 1, 1993-April 30, 1994
___________________________
From income $ .60
___________________________
From capital gains $ 1.64
___________________________
Total distributions $ 2.24
___________________________
Total return* + .20%
___________________________
*If you purchased shares in the fund during this period, your return
also would have been affected by the sales charge, as described in
the prospectus.<PAGE>
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IDS Stock Fund, Inc.
Your fund's ten largest holdings
(pie chart)
The ten holdings listed here make up 13.50% of the fund's net assets
<CAPTION>
_____________________________________________________________________________________________________________
Percent Value
(of fund's net assets)(as of April 30, 1994)
____________________________________________________________________________________
<S> <C> <C>
NationsBank 1.58% $ 33,962,500
NationsBank is one of the largest regional banks
in the country and has a strong franchise that
includes North Carolina, South Carolina, Texas,
Virginia, Florida and Georgia.
Minnesota Mining & Manufacturing 1.43 30,546,875
Minnesota Mining & Manufacturing (3M) is a
diversified manufacturer of industrial,
commercial and consumer products, including
tapes, adhesives, coatings and sealants.
Kimberly-Clark 1.41 30,181,250
A large, Dallas-based, producer of paper and
packaging materials.
Royal Dutch Petroleum 1.40 29,975,000
Royal Dutch Petroleum Co, which includes Royal Dutch
(the Dutch version) and Shell Transport (the English
version) is a major oil company.
Xerox 1.38 29,662,500
Xerox Corp. is a large, multinational company focused
on the document-processing business. The company
also operates several financial services businesses.
Sears, Roebuck & Co. 1.37 29,375,000
Sears, Roebuck & Co., through its Sears stores, is
the third largest retailer in the world.
Dana 1.26 27,062,500
A producer of truck and car components and parts for use
in the original equipment manufacturing automotive
aftermarket.
Occidental Petroleum 1.24 26,625,000
Occidental Petroleum is a worldwide producer of oil and
natural gas, with additional interests in chemical
operations, gas transmission and coal mining.
LIN Broadcasting 1.23 26,437,500
LIN Broadcasting Corp. engages in cellular telephone
operations, television broadcasting, and specialty
publishing.
RTZ 1.20 25,640,000
A large United Kingdom company specializing in
mining, including aluminum, copper and gold.
/TABLE
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<TABLE>
Financial statements
Statement of assets and liabilities
IDS Stock Fund, Inc.
April 30, 1994
<CAPTION>
_____________________________________________________________________________________________________________
Assets
_____________________________________________________________________________________________________________
(Unaudited)
<S> <C>
Investments in securities, at value (Note 1):
Investments in securities of unaffiliated issuers (identified cost $2,050,251,703) $2,170,263,061
Investments in securities of affiliated issuer (identified cost $19,280,400) 17,500,000
_____________________________________________________________________________________________________________
Total investments in securities (identified cost $2,069,532,103) 2,187,763,061
Dividends and accrued interest receivable 6,734,223
Receivable for investment securities sold 8,943,304
_____________________________________________________________________________________________________________
Total assets 2,203,440,588
_____________________________________________________________________________________________________________
Liabilities
_____________________________________________________________________________________________________________
Disbursements in excess of cash on demand deposit 1,745,318
Payable for investment securities purchased 27,749,872
Payable upon return of securities loaned (Note 4) 28,551,000
Accrued investment management and services fee 890,144
Accrued distribution fee 75,967
Accrued transfer agency fee 189,465
Other accrued expenses 579,734
_____________________________________________________________________________________________________________
Total liabilities 59,781,500
_____________________________________________________________________________________________________________
Net assets applicable to outstanding capital stock $2,143,659,088
_____________________________________________________________________________________________________________
Represented by
_____________________________________________________________________________________________________________
Capital stock -- authorized 10,000,000,000 shares of $.01 par value;
outstanding 112,247,884 shares $ 1,122,479
Additional paid-in capital 1,851,680,283
Undistributed net investment income 4,658,643
Accumulated net realized gain (Note 1) 167,966,725
Unrealized appreciation 118,230,958
_____________________________________________________________________________________________________________
Total -- representing net assets applicable to outstanding capital stock $2,143,659,088
_____________________________________________________________________________________________________________
Net asset value per share of outstanding capital stock $ 19.10
_____________________________________________________________________________________________________________
See accompanying notes to financial statements.
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Financial statements
Statement of operations
IDS Stock Fund, Inc.
Six months ended April 30, 1994
_____________________________________________________________________________________________________________
Investment income
_____________________________________________________________________________________________________________
(Unaudited)
<S> <C>
Income:
Dividends (net of foreign taxes withheld of $540,461) $ 27,580,245
Interest 9,444,329
_____________________________________________________________________________________________________________
Total income 37,024,574
_____________________________________________________________________________________________________________
Expenses (Note 2):
Investment management and services fee 5,779,860
Distribution fee 455,426
Transfer agency fee 1,129,895
Compensation of directors 93,166
Compensation of officers 13,905
Custodian fees 277,423
Postage 104,141
Registration fees 84,582
Reports to shareholders 35,903
Audit fees 14,750
Administrative 25,334
Other 28,674
_____________________________________________________________________________________________________________
Total expenses 8,043,059
_____________________________________________________________________________________________________________
Investment income -- net 28,981,515
_____________________________________________________________________________________________________________
Realized and unrealized gain (loss) -- net
_____________________________________________________________________________________________________________
Net realized gain on security and foreign currency transactions
(including loss of $27,974 from foreign currency transactions) (Note 3) 168,018,826
Net change in unrealized appreciation or depreciation (193,971,227)
_____________________________________________________________________________________________________________
Net loss on investments and foreign currency (25,952,401)
_____________________________________________________________________________________________________________
Net increase in net assets resulting from operations $ 3,029,114
_____________________________________________________________________________________________________________
See accompanying notes to financial statements.
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Financial statements
Statements of changes in net assets
IDS Stock Fund, Inc.
<CAPTION>
_____________________________________________________________________________________________________________
Operations and distributions April 30, 1994 Oct. 31, 1993
_____________________________________________________________________________________________________________
Six months ended Year ended
(Unaudited)
<S> <C> <C>
Investment income -- net $ 28,981,515 $ 50,064,349
Net realized gain on investments and foreign currency 168,018,826 189,191,483
Net change in unrealized appreciation or depreciation (193,971,227) 75,180,622
_____________________________________________________________________________________________________________
Net increase in net assets resulting from operations 3,029,114 314,436,454
_____________________________________________________________________________________________________________
Distributions to shareholders from:
Net investment income (29,760,325) (47,684,415)
Net realized gain on investments (189,047,837) (145,269,306)
Excess distribution of realized gain (Note 1) -- (28,968)
_____________________________________________________________________________________________________________
Total distributions (218,808,162) (192,982,689)
_____________________________________________________________________________________________________________
Capital share transactions
_____________________________________________________________________________________________________________
Proceeds from sales of
12,079,464 and 13,265,220 shares (Note 2) 238,381,074 267,880,638
Net asset value of 9,876,449 and 9,177,264 shares
issued in reinvestment of distributions 194,122,323 176,369,824
Payments for redemptions of
6,643,855 and 8,219,963 shares (132,162,564) (165,004,017)
_____________________________________________________________________________________________________________
Increase in net assets from capital share transactions
representing net addition of
15,312,058 and 14,222,521 shares 300,340,833 279,246,445
_____________________________________________________________________________________________________________
Total increase in net assets 84,561,785 400,700,210
_____________________________________________________________________________________________________________
Net assets at beginning of period 2,059,097,303 1,658,397,093
_____________________________________________________________________________________________________________
Net assets at end of period
(including undistributed net investment income of
$4,658,643 and $5,437,453) $2,143,659,088 $2,059,097,303
_____________________________________________________________________________________________________________
See accompanying notes to financial statements
</TABLE>
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Notes to financial statements
IDS Stock Fund, Inc.
(Unaudited as to April 30, 1994)
______________________________________________________________________________
1. Summary of significant accounting policies
The fund is registered under the Investment Company
Act of 1940 (as amended) as a diversified, open-end
management investment company. Significant accounting
policies followed by the fund are summarized below:
Valuation of securities
All securities are valued at the close of each
business day. Securities traded on national
securities exchanges or included in national market
systems are valued at the last quoted sales price;
securities for which market quotations are not
readily available are valued at fair value according
to methods selected in good faith by the board of
directors. Determination of fair value involves,
among other things, reference to market indexes,
matrixes and data from independent brokers.
Short-term securities maturing in more than 60 days
from the valuation date are valued at the market
price or approximate market value based on current
interest rates; those maturing in 60 days or less are
valued at amortized cost.
Options transactions
In order to produce incremental earnings, protect
gains, and facilitate buying and selling of
securities for investment purposes, the fund may buy
or write options traded on any U.S. or foreign
exchange or in the over-the-counter market where the
completion of the obligation is dependent upon the
credit standing of the other party. The fund also may
buy and sell put and call options and write covered
call options on portfolio securities and may write
cash-secured put options. The risk in writing a call
option is that the fund gives up the opportunity of
profit if the market price of the security increases.
The risk in writing a put option is that the fund may
incur a loss if the market price of the security
decreases and the option is exercised. The risk in
buying an option is that the fund pays a premium
whether or not the option is exercised. The fund also
has the additional risk of not being able to enter
into a closing transaction if a liquid secondary
market does not exist.
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Notes to financial statements
IDS Stock Fund, Inc.
______________________________________________________________________________
1. Summary of significant accounting policies
Option contracts are valued daily at the closing
prices on their primary exchanges and unrealized
appreciation or depreciation is recorded. The fund
will realize a gain or loss upon expiration or
closing of the option transaction. When an option is
exercised, the proceeds on sales for a written call
option, the purchase cost for a written put option or
the cost of a security for a purchased put or call
option is adjusted by the amount of premium received
or paid.
Futures transactions
In order to gain exposure to or protect itself from
changes in the market, the fund may buy and sell
stock index futures contracts traded on any U.S. or
foreign exchange. The fund also may buy or write put
and call options on these futures contracts. Risks of
entering into futures contracts and related options
include the possibility that there may be an illiquid
market and that a change in the value of the contract
or option may not correlate with changes in the value
of the underlying securities.
Upon entering into a futures contract, the fund is
required to deposit either cash or securities in an
amount (initial margin) equal to a certain percentage
of the contract value. Subsequent payments (variation
margin) are made or received by the fund each day.
The variation margin payments are equal to the daily
changes in the contract value and are recorded as
unrealized gains and losses. The fund recognizes a
realized gain or loss when the contract is closed or
expires.
Foreign currency translations and
forward foreign currency contracts
Securities and other assets and liabilities
denominated in foreign currencies are translated
daily into U.S. dollars at the closing rate of
exchange. Foreign currency amounts related to the
purchase or sale of securities and income and
expenses are translated at the exchange rate on the
transaction date. It is not practicable to identify
that portion of realized and unrealized gain (loss)
arising from changes in the exchange rates from the
portion arising from changes in the market value of
investments.
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Notes to financial statements
IDS Stock Fund, Inc.
______________________________________________________________________________
1. Summary of significant accounting policies
The fund may enter into forward foreign currency
exchange contracts for operational purposes and to
protect against adverse exchange rate fluctuation.
The net U.S. dollar value of foreign currency
underlying all contractual commitments held by the
fund and the resulting unrealized appreciation or
depreciation are determined using foreign currency
exchange rates from an independent pricing service.
The fund is subject to the credit risk that the other
party will not complete the obligations of the
contract.
Federal taxes
Since the fund's policy is to comply with all
sections of the Internal Revenue Code applicable to
regulated investment companies and to distribute all
of its taxable income to shareholders, no provision
for income or excise taxes is required.
Net investment income (loss) and net realized gains
(losses) may differ for financial statement and tax
purposes primarily because of the deferral of losses
on certain futures contracts, the recognition of
certain foreign currency gains (losses) as ordinary
income (loss) for tax purposes, and losses deferred
due to "wash sale" transactions. The character of
distributions made during the year from net
investment income or net realized gains may differ
from their ultimate characterization for federal
income tax purposes. The effect on dividend
distributions of certain book-to-tax differences is
presented as "excess distributions" in the statement
of changes in net assets. Also, due to the timing of
dividend distributions, the fiscal year in which
amounts are distributed may differ from the year that
the income or realized gains (losses) were recorded
by the fund.
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Notes to financial statements
IDS Stock Fund, Inc.
______________________________________________________________________________
1. Summary of significant accounting policies
Dividends to shareholders
Dividends from net investment income, declared and
paid each calendar quarter, are reinvested in
additional shares of the fund at net asset value or
payable in cash. Capital gains, when available, are
distributed along with the last income dividend of
the calendar year.
Other
Security transactions are accounted for on the date
securities are purchased or sold. Dividend income is
recognized on the ex-dividend date and interest
income, including level-yield amortization of premium
and discount, is accrued daily.
______________________________________________________________________________
2. Expenses and sales charges
Under terms of an agreement dated Nov. 14, 1991, the
fund pays IDS Financial Corporation (IDS) a fee for
managing its investments, recordkeeping and other
specified services. The fee is a percentage of the
fund's average daily net assets consisting of a group
asset charge in reducing percentages from 0.46% to
0.32% annually on the combined net assets of all
non-money market funds in the IDS MUTUAL FUND GROUP
and an individual annual asset charge of 0.14% of
average daily net assets. The fee is adjusted upward
or downward by a performance incentive adjustment
based on the fund's average daily net assets over a
rolling 12-month period as measured against the
change in the Lipper Growth and Income Fund Index.
The maximum adjustment is 0.08% of the fund's average
daily net assets after deducting 1% from the
performance difference. If the performance difference
is less than 1%, the adjustment will be zero. The
adjustment increased the fee by $135,147 for the six
months ended April 30, 1994.
The fund also pays IDS a distribution fee at an
annual rate of $6 per shareholder account and a
transfer agency fee at an annual rate of $15 per
shareholder account. The transfer agency fee is
reduced by earnings on monies pending shareholder
redemptions.
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Notes to financial statements
IDS Stock Fund, Inc.
______________________________________________________________________________
2. Expenses and sales charges
IDS will assume and pay any expenses (except taxes
and brokerage commissions) that exceed the most
restrictive applicable state expense limitation.
Sales charges by IDS Financial Services Inc. for
distributing fund shares were $2,287,448 for the six
months ended April 30, 1994. The fund also pays
custodian fees to IDS Trust Company, an affiliate of
IDS.
The fund has a retirement plan for its independent
directors. Upon retirement, directors receive monthly
payments equal to one-half of the retainer fee for as
many months as they served as directors up to 120
months. There are no death benefits. The plan is not
funded but the fund recognizes the cost of payments
during the time the directors serve on the board. The
retirement plan expense amounted to $8,317 for the
six months ended April 30, 1994.
______________________________________________________________________________
3. Securities transactions
Cost of purchases and proceeds from sales of
securities (other than short-term obligations)
aggregated $859,986,665 and $804,535,679,
respectively, for the six months ended April 30,
1994. Realized gains and losses are determined on an
identified cost basis.
Brokerage commissions paid to brokers affiliated with
IDS were $396,294 for the six months ended April 30,
1994.
______________________________________________________________________________
4. Lending of portfolio securities
At April 30, 1994, securities valued at $27,568,800
were on loan to brokers. For collateral, the fund
received $28,551,000 in cash. Income from securities
lending amounted to $92,015 for the six months ended
April 30, 1994. The risks to the fund of securities
lending are that the borrower may not provide
additional collateral when required or return the
securities when due.
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<TABLE>
Notes to financial statements
IDS Stock Fund, Inc.
______________________________________________________________________________
5. Financial highlights
The table below shows certain important financial
information for evaluating the funds's results.
Fiscal period ended Oct. 31,
Per share income and capital changes*
<CAPTION>
1994** 1993 1992 1991 1990 1989
<S> <C> <C> <C> <C> <C> <C>
Net asset value, $21.24 $20.05 $20.02 $17.26 $20.76 $17.43
beginning of period
Income from investment operations:
Net investment income .27 .55 .64 .68 .83 .77
Net gains (losses) on (.17) 2.93 1.11 4.02 (.87) 3.26
securities (both realized
and unrealized)
Total from investment .10 3.48 1.75 4.70 (.04) 4.03
operations
Less distributions:
Dividends from net (.29) (.53) (.63) (.74) (.85) (.70)
investment income
Distributions from (1.95) (1.76) (1.09) (1.20) (2.61) --
realized gains
Total distributions (2.24) (2.29) (1.72) (1.94) (3.46) (.70)
Net asset value,
end of period $19.10 $21.24 $20.05 $20.02 $17.26 $20.76
Ratios/supplemental data
Net assets, end of period 1994** 1993 1992 1991 1990 1989
(in millions) $2,144 $2,059 $1,658 $1,513 $1,213 $1,347
Ratio of expenses to .76%*** .73% .72% .65% .63% .60%
average daily net assets
Ratio of net income to 2.75%*** 2.75% 3.21% 3.59% 4.32% 3.94%
average daily net assets
Portfolio turnover rate 42% 76% 77% 58% 26% 54%
(excluding short-term
securities)
Total return+ 0.2%++ 18.8% 9.4% 29.0% (0.9%) 23.4%
*For a share outstanding throughout the period. Rounded to the nearest cent.
**Six months ended April 30, 1994 (Unaudited).
***Adjusted to an annual basis.
+Total return does not reflect payment of a sales charge.
++For the fiscal period ended April 30, 1994, the annualized total return is 0.4%
</TABLE>
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<TABLE>
Investments in securities
IDS Stock Fund, Inc. (Percentages represent value of
April 30, 1994 (Unaudited) investments compared to net assets)
<CAPTION>
Investments in securities of unaffiliated issuers
_____________________________________________________________________________________________________________________________
Common stocks (71.5%)
_____________________________________________________________________________________________________________________________
Issuer Shares Value(a)
_____________________________________________________________________________________________________________________________
<S> <C> <C>
Aerospace & defense (1.8%)
Northrop 650,000 $ 24,862,500
United Technologies 200,000 12,750,000
_____________
Total 37,612,500
_____________________________________________________________________________________________________________________________
Automotive & related (1.3%)
Dana 500,000 27,062,500
_____________________________________________________________________________________________________________________________
Banks and savings & loans (6.3%)
Banca Popolare di Bergamo 100,000 (b) 1,506,100
Banco de Santander ADR 550,000 (b,c) 23,925,000
Banco Frances Del Rio Plata 200,000 (b,d) 5,300,000
BankAmerica 550,000 23,787,500
First Chicago 425,000 22,471,875
NationsBank 650,000 33,962,500
PNC Bank 900,000 25,087,500
______________
Total 136,040,475
_____________________________________________________________________________________________________________________________
Beverages & tobacco (2.2%)
Panamerican Beverages 150,000 (b) 5,156,250
PepsiCo 550,000 20,075,000
UST 800,000 22,300,000
______________
Total 47,531,250
_____________________________________________________________________________________________________________________________
Building materials (1.3%)
Tolmex Series B 450,000 (b) 5,503,050
Weyerhaeuser 550,000 23,443,750
______________
Total 28,946,800
_____________________________________________________________________________________________________________________________
Chemicals (2.1%)
Dow Chemical 375,000 23,531,250
Nalco Chemical 300,000 10,087,500
Witco 425,000 12,431,250
______________
Total 46,050,000
_____________________________________________________________________________________________________________________________
See accompanying notes to investments in securities.
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Investments in securities
IDS Stock Fund, Inc. (Percentages represent value of
April 30, 1994 (Unaudited) investments compared to net assets)
Investments in securities of unaffiliated issuers
_____________________________________________________________________________________________________________________________
Common stocks (continued)
_____________________________________________________________________________________________________________________________
Issuer Shares Value(a)
_____________________________________________________________________________________________________________________________
Communications equipment (4.0%)
AirTouch Communications 925,000 (d) $ 22,778,125
Cisco Systems 275,000 8,335,938
Ericsson (LM) ADR 12,500,000 (b) 19,921,875
LIN Broadcasting 250,000 (d) 26,437,500
Northern Telecom 250,000 (b) 7,437,500
______________
Total 84,910,938
_____________________________________________________________________________________________________________________________
Computers & office equipment (4.1%)
Banyan 500,000 (d) 8,875,000
COMPAQ Computer 50,000 5,550,000
Computer Assn Intl 275,000 8,903,125
Informix 400,000 6,550,000
Pitney Bowes 550,000 21,037,500
Wall Data 175,000 (c,d) 6,518,750
Xerox 300,000 29,662,500
______________
Total 87,096,875
_____________________________________________________________________________________________________________________________
Electronics (0.4%)
Intel 150,000 9,150,000
_____________________________________________________________________________________________________________________________
Energy (8.0%)
Amoco 450,000 25,256,250
Enterprise Oil 3,750,000 (b) 23,583,750
Occidental Petroleum 1,500,000 26,625,000
Repsol ADR 700,000 (b) 23,100,000
Royal Dutch Petroleum 275,000 (b) 29,975,000
Texaco 350,000 22,531,250
YPF Sociedad Anonima ADR 800,000 (b) 19,800,000
______________
Total 170,871,250
_____________________________________________________________________________________________________________________________
Energy equipment & services (1.1%)
Schlumberger 425,000 (b) 23,375,000
_____________________________________________________________________________________________________________________________
See accompanying notes to investments in securities.
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Investments in securities
IDS Stock Fund, Inc. (Percentages represent value of
April 30, 1994 (Unaudited) investments compared to net assets)
Investments in securities of unaffiliated issuers
_____________________________________________________________________________________________________________________________
Common stocks (continued)
_____________________________________________________________________________________________________________________________
Issuer Shares Value(a)
_____________________________________________________________________________________________________________________________
Financial services (4.0%)
Beneficial 600,000 $ 22,800,000
Bradley Real Estate Trust 400,000 3,600,000
Developers Diversified Realty 125,000 3,984,375
Federal Natl Mtge 250,000 20,812,500
General Property Trust 2,450,000 (b) 4,312,000
Holly Residential Property 225,000 3,712,500
Kimco Realty 125,000 4,484,375
Kranzco Realty Trust 175,000 3,806,250
Mutual Risk Management 400,000 9,350,000
Sizeler Property 350,000 4,593,750
Southwestern Property Trust 275,000 3,643,750
______________
Total 85,099,500
_____________________________________________________________________________________________________________________________
Furniture & appliances (1.1%)
Maytag 1,275,000 24,065,625
_____________________________________________________________________________________________________________________________
Health care (3.1%)
Bristol-Myers Squibb 400,000 21,550,000
Pfizer 375,000 22,125,000
Schering-Plough 375,000 22,875,000
______________
Total 66,550,000
_____________________________________________________________________________________________________________________________
Health care services (1.5%)
Columbia Healthcare 250,000 10,593,750
Foundation Health 200,000 (d) 7,850,000
Humana 375,000 (d) 6,937,500
Physician Corp of Amer 275,000 6,617,187
______________
Total 31,998,437
_____________________________________________________________________________________________________________________________
Industrial equipment & services (2.2%)
General Signal 725,000 23,743,750
Giddings & Lewis 900,000 22,725,000
______________
Total 46,468,750
_____________________________________________________________________________________________________________________________
See accompanying notes to investments in securities.
<PAGE>
PAGE
Investments in securities
IDS Stock Fund, Inc. (Percentages represent value of
April 30, 1994 (Unaudited) investments compared to net assets)
Investments in securities of unaffiliated issuers
_____________________________________________________________________________________________________________________________
Common stocks (continued)
_____________________________________________________________________________________________________________________________
Issuer Shares Value(a)
_____________________________________________________________________________________________________________________________
Industrial transportation (2.1%)
CSX 284,600 $ 22,163,225
Union Pacific 400,000 23,600,000
______________
Total 45,763,225
_____________________________________________________________________________________________________________________________
Insurance (1.6%)
CIGNA 425,000 24,862,500
Travelers 275,000 9,556,250
______________
Total 34,418,750
_____________________________________________________________________________________________________________________________
Media (3.0%)
Grupo Televisa ADR 300,000 (b,e) 15,900,000
McGraw-Hill 350,000 22,793,750
Reader's Digest Assn 600,000 24,900,000
______________
Total 63,593,750
_____________________________________________________________________________________________________________________________
Metals (3.4%)
Cyprus Minerals 900,000 25,312,500
Lukens 700,000 21,700,000
RTZ 2,000,000 (b) 25,640,000
______________
Total 72,652,500
_____________________________________________________________________________________________________________________________
Multi-industry conglomerates (7.4%)
General Electric 250,000 23,781,250
Grupo Carso ADR 300,000 (b,d) 5,954,190
Hanson ADR 1,150,000 (b) 23,718,750
Hutchison Whampoa 5,000,000 (b) 20,550,000
ITT 275,000 24,681,250
Madeco ADR 200,000 (b) 5,800,000
Minnesota Mining & Mfg 625,000 30,546,875
Tenneco 450,000 23,062,500
______________
Total 158,094,815
_____________________________________________________________________________________________________________________________
See accompanying notes to investments in securities.
<PAGE>
PAGE
Investments in securities
IDS Stock Fund, Inc. (Percentages represent value of
April 30, 1994 (Unaudited) investments compared to net assets)
Investments in securities of unaffiliated issuers
_____________________________________________________________________________________________________________________________
Common stocks (continued)
_____________________________________________________________________________________________________________________________
Issuer Shares Value(a)
_____________________________________________________________________________________________________________________________
Paper & packaging (3.6%)
Kimberly-Clark 550,000 $ 30,181,250
Kimberly-Clark de Mexico Cl A 1,350,000 (b) 25,556,850
Union Camp 500,000 22,187,500
______________
Total 77,925,600
_____________________________________________________________________________________________________________________________
Retail (1.4%)
Sears Roebuck 625,000 29,375,000
_____________________________________________________________________________________________________________________________
Utilities - electric (1.5%)
Central Puerto ADR 130,000 (b) 5,070,000
Edison 1,100,000 (b) 6,211,700
Veba 70,000 (b) 21,631,330
______________
Total 32,913,030
_____________________________________________________________________________________________________________________________
Utilities - gas (1.0%)
Enron 750,000 22,218,750
____________________________________________________________________________________________________________________________
Utilities - telephone (2.0%)
BCE 500,000 (b) 17,875,000
Pacific Telesis Group 750,000 24,000,000
______________
Total 41,875,000
_____________________________________________________________________________________________________________________________
Total common stocks
(Cost: $1,398,099,859) $1,531,660,320
_____________________________________________________________________________________________________________________________
See accompanying notes to investments in securities.
<PAGE>
PAGE
Investments in securities
IDS Stock Fund, Inc. (Percentages represent value of
April 30, 1994 (Unaudited) investments compared to net assets)
Investments in securities of unaffiliated issuers
_____________________________________________________________________________________________________________________________
<CAPTION>
Preferred stocks (10.1%)
_____________________________________________________________________________________________________________________________
Issuer Shares Value(a)
_____________________________________________________________________________________________________________________________
<S> <C> <C>
Alco Standard
$2.375 Cv 275,000 $ 17,187,500
Bethlehem Steel
$3.50 Cm Cv 300,000 (e) 16,987,500
Ceridan
$2.75 Cv 200,000 11,850,000
Compania Inversiones Telephone
$5.04 Cv 300,000 (b) 18,450,000
Equitable
6% Cm Cv 275,000 (e) 13,990,625
First Chicago
2.875% Cm Cv 250,000 13,500,000
Ford Motor
4.20% Cv 175,000 16,887,500
General Motors
3.25% Cv 300,000 16,987,500
Kenetech
8.25% Cv 645,000 13,061,250
Parker & Parsley Capital
$3.125 Cv 325,000 (e) 17,468,750
RJR Nabisco Holdings
$8.35 Cv 2,000,000 13,000,000
Sears Roebuck
3.75% Cv 300,000 16,312,500
Tenneco
$2.80% Cm Cv 325,000 13,365,625
Travelers
$5.50 Cv 300,000 (c) 17,700,000
_____________________________________________________________________________________________________________________________
Total preferred stocks
(Cost: $210,127,329) $ 216,748,750
_____________________________________________________________________________________________________________________________
See accompanying notes to investments in securities.
<PAGE>
PAGE
Investments in securities
IDS Stock Fund, Inc. (Percentages represent value of
April 30, 1994 (Unaudited) investments compared to net assets)
Investments in securities of unaffiliated issuers
_____________________________________________________________________________________________________________________________
<CAPTION>
Bonds (8.0%)
_____________________________________________________________________________________________________________________________
Principal
Issuer and coupon rate amount Value(a)
_____________________________________________________________________________________________________________________________
<S> <C> <C>
Automatic Data Processing
Zero Coupon Cv 2012
(5.24% annualized yield
on date of purchase) $45,000,000 (f) $ 17,831,250
Banco Nacional de Mexico
7% Cv 1999 15,000,000 (b,e) 16,500,000
Conner Peripherals
6.75% 2001 10,000,000 8,637,500
Container Corp Amer
13.50% Sr Sub Nt 1999 10,000,000 10,900,000
Henderson Land Group Euro
4% Cv 1996 15,000,000 (b,e) 14,306,250
MascoTech
4.50% 2003 20,000,000 17,000,000
Medical Care Intl
6.75% 2006 20,000,000 (e) 18,200,000
NAC Re
5.25% Cv 2002 20,000,000 (e) 17,300,000
Rogers Communications
Zero Coupon Cv 2013
(5.49% annualized yield
on date of purchase) 50,000,000 (b,f) 17,000,000
Stone Container
6.75% Cv 2007 25,000,000 17,187,500
SynOptics Communications
5.25% Cv 2003 20,000,000 (e) 15,800,000
_____________________________________________________________________________________________________________________________
Total bonds
(Cost: $190,818,472) $ 170,662,500
_____________________________________________________________________________________________________________________________
See accompanying notes to investments in securities.
<PAGE>
PAGE
Investments in securities
IDS Stock Fund, Inc. (Percentages represent value of
April 30, 1994 (Unaudited) investments compared to net assets)
Investments in securities of unaffiliated issuers
_____________________________________________________________________________________________________________________________
<CAPTION>
Short-term securities (11.7%)
_____________________________________________________________________________________________________________________________
Issuer Annualized Amount Value(a)
yield on payable
date of at
purchase maturity
_____________________________________________________________________________________________________________________________
<S> <C> <C> <C>
U.S. government agency (0.2%)
Federal Natl Mtge Assoc Disc Note
05-23-94 3.67% $ 3,800,000 $ 3,791,114
_____________________________________________________________________________________________________________________________
Bankers acceptance (0.2%)
Morgan Guaranty
05-12-94 3.61 5,000,000 4,994,000
_____________________________________________________________________________________________________________________________
Commercial paper (10.8%)
ABB Treasury Center (USA)
05-13-94 3.64 6,000,000 (g) 5,992,157
05-18-94 3.81 5,500,000 (g) 5,489,550
Amgen
06-24-94 3.98 3,300,000 3,280,085
Associates Corp North Amer
05-02-94 3.70 6,000,000 5,998,767
AT&T Capital
05-09-94 3.64 6,000,000 5,994,570
Chevron Transport
05-19-94 3.64 5,000,000 (g) 4,990,421
Ciesco LP
05-18-94 3.67 7,900,000 7,885,582
Columbia Fuels
05-13-94 3.66 1,175,000 1,173,451
05-25-94 3.84 7,200,000 7,180,900
Commercial Credit
06-01-94 3.67 5,000,000 4,983,778
Consolidated Rail
05-26-94 3.86 5,000,000 (g) 4,986,097
Fleet Funding
05-23-94 3.64 10,000,000 (g) 9,976,840
Gannett
06-20-94 3.95 5,000,000 4,972,162
Gillette
05-02-94 3.60 3,000,000 (g) 2,999,400
05-03-94 3.67 5,000,000 (g) 4,998,479
See accompanying notes to investments in securities.
<PAGE>
PAGE
Investments in securities
IDS Stock Fund, Inc. (Percentages represent value of
April 30, 1994 (Unaudited) investments compared to net assets)
Investments in securities of unaffiliated issuers
_____________________________________________________________________________________________________________________________
Short-term securities (continued)
_____________________________________________________________________________________________________________________________
Issuer Annualized Amount Value(a)
yield on payable
date of at
purchase maturity
_____________________________________________________________________________________________________________________________
Commercial paper (cont'd)
Heinz (HJ)
05-26-94 3.70% $10,000,000 $ 9,973,422
Household Finance
05-02-94 3.55 4,800,000 4,799,053
05-27-94 3.81 7,000,000 6,980,050
Intel
07-01-94 3.93 5,500,000 5,460,153
Kredietbank North Amer Finance
05-13-94 3.63% 5,000,000 4,993,464
Merrill Lynch
05-25-94 3.72 600,000 598,458
Metlife Funding
05-17-94 3.62 5,500,000 5,490,624
Mobile Australia Finance (Delaware)
05-05-94 3.61 3,200,000 (g) 3,198,400
Morgan Stanley Group
05-24-94 3.77 3,200,000 3,192,000
Nestle Capital
05-20-94 3.59 9,000,000 8,982,100
Norfolk Southern
07-12-94 3.91 8,000,000 (g) 7,931,920
Pacific Energy Fuels
06-07-94 3.79 14,000,000 13,944,288
Penney (JC) Funding
05-19-94 3.61 8,600,000 8,583,660
Pfizer
05-20-94 3.59 8,000,000 7,984,089
Reed Publishing (USA)
07-11-94 3.94 4,000,000 (g) 3,966,420
St. Paul Companies
05-06-94 3.63 1,900,000 (g) 1,898,854
05-16-94 3.70 10,000,000 (g) 9,983,644
Sandoz
05-11-94 3.69 7,000,000 6,992,129
05-25-94 3.81 4,700,000 4,687,597
07-26-94 4.19 3,900,000 3,860,437
Sara Lee
05-10-94 3.61 4,800,000 4,795,200
See accompanying notes to investments in securities.
<PAGE>
PAGE
Investments in securities
IDS Stock Fund, Inc. (Percentages represent value of
April 30, 1994 (Unaudited) investments compared to net assets)
Investments in securities of unaffiliated issuers
_____________________________________________________________________________________________________________________________
Short-term securities (continued)
_____________________________________________________________________________________________________________________________
Issuer Annualized Amount Value(a)
yield on payable
date of at
purchase maturity
_____________________________________________________________________________________________________________________________
Commercial paper (cont'd)
Southwestern Bell Capital
05-23-94 3.64% $ 7,000,000 (g) $ 6,983,766
06-22-94 3.78 6,000,000 (g) 5,963,359
Southwestern Bell Telephone
05-24-94 3.63 4,200,000 4,189,864
Toyota Motor Credit
05-10-94 3.68 5,100,000 5,094,801
______________
Total 231,429,991
_____________________________________________________________________________________________________________________________
Letters of credit (0.5%)
Bank of Amer-
Hyundai Motor Finance
06-13-94 3.78 3,700,000 3,682,996
First Natl Bank-
Chicago
05-12-94 3.67 4,500,000 4,494,525
NationsBank-
North Carolina
05-04-94 3.66 2,800,000 2,798,865
______________
Total 10,976,386
_____________________________________________________________________________________________________________________________
Total short-term securities
(Cost: $251,206,043) $ 251,191,491
_____________________________________________________________________________________________________________________________
Total investments in securities of unaffiliated issuers
(Cost: $2,050,251,703) $2,170,263,061
_____________________________________________________________________________________________________________________________
See accompanying notes to investments in securities.
<PAGE>
PAGE
Investments in securities
IDS Stock Fund, Inc. (Percentages represent value of
April 30, 1994 (Unaudited) investments compared to net assets)
<CAPTION>
Investments in securities of affiliated issuer (h)
_____________________________________________________________________________________________________________________________
Preferred stock (0.8%)
_____________________________________________________________________________________________________________________________
Issuer Shares Value(a)
_____________________________________________________________________________________________________________________________
<S> <C> <C>
USX
3.25% Cm Cv 350,000 $ 17,500,000
_____________________________________________________________________________________________________________________________
Total investments in securities of affiliated issuer
(Cost: $19,280,400) $ 17,500,000
_____________________________________________________________________________________________________________________________
Total investments in securities
(Cost: $2,069,532,103)(i) $2,187,763,061
_____________________________________________________________________________________________________________________________
Notes to investments in securities
_____________________________________________________________________________________________________________________________
(a) Securities are valued by procedures described in Note 1 to the financial statements.
(b) Foreign security values and principal amounts are stated in U.S. dollars.
(c) Security is partially or fully on loan. See Note 4 to the financial statements.
(d) Presently non-income producing.
(e) Represents a security sold under Rule 144A which is exempt from registration under the Securities Act of 1933, as
amended. This security has been determined to be liquid under guidelines established by the board of directors.
(f) For zero coupon bonds, the interest rate disclosed represents the annualized effective yield on the date of acquisition.
(g) Commercial paper sold within terms of a private placement memorandum, exempt from registration under Section 4(2) of the
Securities Act of 1933, as amended, and may be sold only to dealers in that program or other "accredited investors."
This security has been determined to be liquid under the guidelines established by the board of directors.
(h) Investments representing 5% or more of the outstanding voting securities of the issuer.
(i) At April 30, 1994, the cost of securities for federal income tax purposes was approximately $2,069,262,000 and the
approximate aggregate gross unrealized appreciation and depreciation based on that cost was:
<S> <C>
Unrealized appreciation $199,003,000
Unrealized depreciation (80,502,000)
___________________________________________________________________________________________
Net unrealized appreciation $118,501,000
___________________________________________________________________________________________
</TABLE>
<PAGE>
PAGE
IDS Stock Fund, Inc.
Directors and officers
Directors and officers of the fund
_____________________________________________________________________________
President and interested director
William R. Pearce
President of all funds in the IDS MUTUAL FUND GROUP.
______________________________________________________________________________
Independent directors
Lynne V. Cheney
Distinguished fellow, American Enterprise Institute for
Public Policy Research.
Robert F. Froehlke
Former president of all funds in the IDS MUTUAL FUND GROUP.
Donald M. Kendall
Former chairman and chief executive officer, PepsiCo, Inc.
Melvin R. Laird
Senior counsellor for national and international affairs,
The Reader's Digest Association, Inc.
Lewis W. Lehr
Former chairman and chief executive officer,
Minnesota Mining and Manufacturing Company (3M).
Edson W. Spencer
Former chairman and chief executive officer, Honeywell, Inc.
Wheelock Whitney
Chairman, Whitney Management Company
________________________________________________________________________
Interested director who is a partner in a law firm that has represented
an IDS subsidiary
Anne P. Jones
Partner, law firm of Sutherland, Asbill & Brennan.
________________________________________________________________________
Interested directors who are officers and/or employees of IDS
William H. Dudley
Executive vice president, IDS.
David R. Hubers
president and chief executive officer, IDS.
John R. Thomas
Senior vice president, IDS.
________________________________________________________________________
Other officer
Leslie L. Ogg
Vice president of all funds in the IDS MUTUAL FUND GROUP and general
counsel and treasurer of the publicly offered funds.<PAGE>
PAGE
IDS mutual funds
Cash equivalent investments
These money market funds have three main goals: conservation of
capital, constant liquidity and the highest possible current income
consistent with these objectives. Very limited risk.
IDS Cash Management Fund
Invests in such money market securities as high quality commercial
paper, bankers' acceptances, certificates of deposit (CDs) and
other bank securities.
(icon of) piggy bank
IDS Tax-Free Money Fund
Invests primarily in short-term bonds and notes issued by state and
local governments to seek high current income exempt from federal
income taxes.
(icon of) shield with piggy bank enclosed
Income investments
The funds in this group invest their assets primarily in corporate
bonds or government securities to seek interest income.
Secondary objective is capital growth. Risk varies by bond quality.
IDS Global Bond Fund
Invests primarily in debt securities of U.S. and foreign issuers to
seek high total return through income and growth of capital.
(icon of) globe
IDS Extra Income Fund
Invests mainly in long-term, high-yielding corporate fixed income
securities in the lower rated, higher risk bond categories to seek
high current income. Secondary objective is capital growth.
(icon of) cornucopia<PAGE>
PAGE
IDS Bond Fund
Invests mainly in corporate bonds, at least 50% in the higher rated,
lower risk bond categories, or the equivalent, and in government bonds.
(icon of) greek column
IDS Strategy, Income Fund
Invests primarily in corporate and government bonds to seek high
current income while conserving capital. Also may seek capital
appreciation when consistent with its primary goals.
(icon of) chess piece
IDS Selective Fund
Invests in high quality corporate bonds and other highly rated debt
instruments including government securities and short-term
investments. Seeks current income and preservation of capital.
(icon of) skyline
IDS Federal Income Fund
Invests primarily in securities issued or guaranteed as to the timely
payment of principal and interest by the U.S. government, its agencies
and instrumentalities. Seeks a high level of current income and
safety of principal consistent with its type of investments.
(icon of) federal building
IDS Strategy, Short-Term Income Fund
Invests primarily in short-term and intermediate-term bonds and notes
to seek a high level of current income.
(icon of) chess piece
Tax-exempt income investments
These funds provide tax-free income by investing in municipal bonds.
The income is generally free from federal income tax. Risk varies
by bond quality.
IDS High Yield Tax-Exempt Fund
Invests primarily in medium- and lower-quality municipal bonds and
notes. Lower-quality securities generally involve greater risk of
principal and income.
(icon of) shield with basket of apples enclosed<PAGE>
PAGE
IDS State Tax-Exempt Funds
(CA, MA, MI, MN, NY, OH)
Invests primarily in high- and medium-grade municipal securities
to provide income to residents of each respective state that is
exempt from federal, state and local income taxes. (New York
is the only state that is exempt at the local level.)
(icon of) shield with U.S. enclosed
IDS Tax-Exempt Bond Fund
Invests mainly in bonds and notes of state or local government
units, with at least 75% in the four highest rated, lowest risk bond
categories.
(icon of) shield with Greek column
IDS Insured Tax-Exempt Fund
Invests primarily in municipal securities that are insured as to
the timely payment of principal and interest. The insurance
feature minimizes credit risk of the fund but does not guarantee
the market value of the fund's shares.
(icon of) shield with eagle head
Growth and income investments
These funds focus on securities of medium to large, well-established
companies that offer long-term growth of capital and reasonable income
from dividends and interest. Moderate risk.
IDS International Fund
Invests primarily in common stocks of foreign companies that offer
potential for superior growth. The Fund may invest up to 20%
of its assets in the U.S. market.
(icon of) three flags
IDS Strategy, Worldwide Growth Fund
Invests primarily in commonon stocks of companies throughout the world
that offer potential for superior growth. Holdings may range from
small- to large- capitalization stocks, including those of companies
involved in areas of rapid economic growth.
(icon of) chess piece
IDS Managed Retirement Fund
Invests in a combination of common stocks, fixed-income
investments and money market securities to seek a maximum total
return through a combination of growth of capital and current income.
(icon of) bird in a nest
<PAGE>
PAGE
IDS Equity Plus Fund
Invests primarily in a combination of moderate growth stocks,
higher-yielding equities and bonds. Seeks growth of
capital and income.
(icon of) three apple trees
IDS Blue Chip Advantage Fund
Invests in selected stocks from a major market index. Securities
purchased are those recommended by IDS research analysts as the
best from each industry represented on the index. Offers potential
for long-term growth as well as dividend income.
(icon of) ribbon
IDS Stock Fund
Invests in common stocks of companies representing many
sectors of the economy. Seeks current income and growth of capital.
(icon of) building with columns
IDS Strategy, Equity Fund
Invests primarily in undervalued common stocks that offer potential
for growth of capital and income.
(icon of) chess piece
IDS Utilities Income Fund
Invests primarily in the stocks of public utility companies to seek
high current income and growth of income and capital with reduced
volatility.
(icon of) electrical cord
IDS Diversified Equity Income Fund
Invests primarily in high-yielding common stocks to seek high current
income and, secondarily, to benefit from the growth potential offered
by stock investments.
(icon of) four puzzle pieces
IDS Mutual
Invests in a balance between common stocks and senior securities
(preferred stocks and bonds). Seeks a balance of growth of capital
and current income.
(icon of) scale of justice<PAGE>
PAGE
Growth investments
Funds in this group seek capital growth, primarily from common stocks.
They are high risk mutual funds with a potential for high reward.
IDS Discovery Fund
Invests in small- and medium-size, growth-oriented companies
emphasizing technological innovation and productivity enhancement.
Buys and holds larger growth-oriented stocks.
(icon of) ship
IDS Strategy, Aggressive Equity Fund
Invests primarily in common stocks of companies that are selected
for their potential for above-average growth. Above-average means
that their growth potential is better, in the opinion of the
portfolio's investment manager, than the Standard & Poor's
Corporation (S&P) 500 Stock Index.
(icon of) chess piece
IDS Growth Fund
Invests primarily in companies that have above-average potential
for long-term growth as a result of new management, marketing
opportunities or technological superiority.
(icon of) flower
IDS Global Growth Fund
Invests in stocks of companies throughout the world that are
positioned to meet market needs in a changing world economy.
These companies offer above-average potential for long-term growth.
(icon of) world
IDS New Dimensions Fund
Invests primarily in companies with significant growth
potential due to superiority in technology, marketing or management.
The fund frequently changes its industry mix.
(icon of) dimension
IDS Progressive Fund
Invests primarily in undervalued common stocks. The fund holds
stocks for the long term with the goal of capital growth.
<PAGE>
PAGE
Specialty growth investment
This fund aggressively seeks capital growth as a hedge against inflation.
IDS Precious Metals Fund
Invests primarily in the securities of foreign or domestic companies
that explore for, mine and process or distribute gold and other
precious metals. This is the most aggressive and most speculative
IDS mutual fund.
(icon of) cart of precious gems
For more complete information about any of these funds, including
charges and expenses, you can obtain a prospectus by contacting your
financial planner or writing to IDS Shareholder Service,
P.O. Box 534, Minneapolis, MN 55440-0534. Read it carefully before
you invest or send money.
<PAGE>
PAGE
Quick telephone reference
IDS Telephone Transaction Service
Redemptions and exchanges, dividend payments or reinvestments and
automatic payment arrangements
National/Minnesota:
800-437-3133
Mpls./St. Paul area:
671-3800
IDS Shareholder Service
Fund performance, objectives and account inquiries
612-671-3733
TTY Service
For the hearing impaired
800-846-4852
IDS Infoline
Automated account information (TouchTone phones only), including current
fund prices and performance, account values and recent account
transactions
National/Minnesota:
800-272-4445
Mpls./St. Paul area:
671-1630
Your IDS financial planner
AN AMERICAN EXPRESS COMPANY
1894 IDS 1994
A CENTURY OF INVESTING IN THE FUTURE
IDS Stock Fund
IDS Tower 10
Minneapolis, MN 55440-0010
