PAGE
IDS
Stock
Fund
1995 semiannual report
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
American Express
Financial Advisors Inc.
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 overseas, 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
To our shareholders
William R. Pearce
President of the fund
Richard H. Warden
Portfolio manager
From the president
As I indicated in the fund's annual report, new agreements between the
fund and American Express Financial Corporation were approved by share-
holders in November 1994. The new agreements became effective when the
fund began offering multiple classes of shares on March 20, 1995.
The advantage of offering more than a single class of shares is that
investors may choose how they wish to pay sales charges. These charges
compensate your American Express financial advisor (formerly called your
IDS planner), who is committed to providing you with outstanding services.
<PAGE>
Adding new classes of mutual fund shares does make the presentation of
financial information in this report more complex. However, we will
continue our effort to make the reports easier to read and understand.
Meanwhile, your advisor is available to answer your questions.
I also want to introduce the new manager of this fund, Dick Warden, who
assumed his duties in January 1995. His review of the past period follows
this letter.
William R. Pearce
From the portfolio manager
The volatility that has characterized the stock market for the past
couple of years continued during the past six months. This time, though,
the upturns far exceeded the downturns. IDS Stock Fund took advantage of
the more positive trend to post a healthy gain during the first half of
the fiscal year - November 1994 through April 1995. (Please note that the
decline in net asset value reflected a substantial capital gain paid to
shareholders last December. The distribution reduced the net asset value
by the same amount.)
The rising-interest-rate trend that had kept the stock market off balance
almost all of 1994 was still in force when the period began last November.
Although long-term rates had actually begun to level off by then, concern
about a potential run-up spawned a round of stock-selling that pushed the
market down some 3.5% for the month. The fund's performance was similarly
affected.
Rally begins
But investors' perceptions can change quickly, and by mid-December concern
about high interest rates began to dissipate as the focus shifted more
toward the generally strong profits companies were reporting. Investors
reacted positively to the profit trend which, when subsequently combined
with declining long-term interest rates, lent some much-awaited support
to stocks. From that point, it didn't take long for the stock market to
turn a moderate advance into a robust rally that continued through the
end of the period. To provide some perspective on the strength of the
run-up, this portfolio gained more than 8% from February through April.
Helping our performance during those months was our decision to reduce
the level of cash reserves (to about 5% of portfolio assets) and put more
money to work in stocks. We also shifted the focus of the portfolio more
toward stocks of large, well-established domestic companies ("blue
chips"), especially those in the technology area. Thies strategy also
proved to be productive as those companies were often at the forefront of
the market's advance.<PAGE>
Outlook generally positive
As for the rest of the fiscal year, stocks continue to have some key
factors in their favor: the economy appears able to maintain a positive,
though slower, growth rate; because of well-behaved inflation, interest
rates are unlikely to rise substantially; and the strength of corporate
profits remains encouraging. On the other hand, as of this writing (May)
the stock market has experienced an exhilarating run this year, and
history shows that such surges are often followed by the market taking a
breather or making a temporary retreat. Should that happen, we would
consider it a healthy event that would allow the market to gather itself
for the possibility of additional gain later this year.
Richard H. Warden
Class A
6-month performance
(All figures per share)
Net asset value (NAV)
April 30, 1995 $ 18.43
Oct. 31, 1994 $ 19.48
Decrease $(1.05)
Distributions
Nov. 1, 1994 - April 30, 1995
From income $ 0.49
From capital gains $ 1.29
Total distributions $ 1.78
Total return** 4.5%
Class B
March 20, 1995 - April 30, 1995
(All figures per share)
Net asset value (NAV)
April 30, 1995 $18.42
March 20, 1995* $18.02
Increase $ 0.40
Distributions
March 20, 1995* - April 30, 1995
From income $ 0.12
From capital gains $ --
Total distributions $ 0.12
Total return** 2.9%<PAGE>
Class Y
March 20, 1995 - April 30, 1995
(All figures per share)
Net asset value (NAV)
April 30, 1995 $18.43
March 20, 1995* $18.02
Increase $ 0.41
Distributions
March 20, 1995* - April 30, 1995
From income $ 0.12
From capital gains $ --
Total distributions $ 0.12
Total return** 2.9%
*Commencement of operations.
**The prospectus discusses the effect of the sales
charge on the various classes.<PAGE>
PAGE
<TABLE>
<CAPTION>
IDS Stock Fund, Inc.
Your fund's ten largest holdings
(Pie chart)
The ten holdings listed here make up 12.65% of the fund's
net assets
_____________________________________________________________________________________
Percent Value
fund's net assets)(as of April 30, 1995)
_____________________________________________________________________________________
<S> <C> <C>
First Chicago 1.55% $ 38,675,000
A bank holding company whose main business is
commercial banking, but with retail banking and credit
card operation as well.
BankAmerica 1.43 35,575,650
A holding company that owns Bank of America (one of the
world's largest banks) and Seattle-First National Bank.
U S WEST 1.25 31,031,250
U S WEST provides telecommunications services to more
than 40% of the United States in 14 western states.
Royal Dutch Petroleum 1.25 31,000,000
Royal Dutch Petroleum Co., which includes Royal
Dutch (the Dutch version) and Shell Transport (the
English version) is a major oil company.
Goodyear Tire & Rubber 1.22 30,400,000
One of the largest manufacturers of tires in the world.
Illinois Tool Works 1.21 30,075,000
Illinois Tool Works is a highly-regarded industrial
manufacturer, with a broad, leading-edge base of capital
goods and consumer component products.
Minnesota Mining & Manufacturing 1.20 29,812,500
Minnesota Mining & Manufacturing (3M) is a diversified
Manufacturer of industrial, commercial and consumer
products, including tapes, adhesives, coatings and
sealants.
<PAGE>
Pitney Bowes 1.19 29,700,000
Pitney Bowes holds strong positions in several segments
of the office equipment market including mailing equipment
and services, facsimile and copier products, and dictation
equipment.
General Electric 1.18 29,400,000
General Electric is a diversified company with interest
in manufacturing, broadcasting (NBC), financial services
and technology.
United Technologies 1.17 29,250,000
United Technologies is a leading worldwide manufacturer
of jet engines, helicopters, heating/air conditioning
equipment, and elevators and escalators.
</TABLE>
<PAGE>
PAGE
Financial statements
Statement of assets and liabilities
IDS Stock Fund, Inc.
April 30, 1995
<TABLE>
<CAPTION>
_____________________________________________________________________________________________________________
Assets
_____________________________________________________________________________________________________________
(Unaudited)
<S> <C>
Investments in securities, at value (Note 1):
Investments in securities of unaffiliated issuers (identified cost $2,407,883,553) $2,587,315,973
Investments in securities of affiliated issuers (identified cost $35,481,140) 33,400,000
Dividends and accrued interest receivable 5,476,615
Receivable for investment securities sold 33,079,249
_____________________________________________________________________________________________________________
Total assets 2,659,271,837
_____________________________________________________________________________________________________________
Liabilities
_____________________________________________________________________________________________________________
Disbursements in excess of cash on demand deposit 30,820,618
Payable for investment securities purchased 66,782,957
Payable upon return of securities loaned (Note 5) 71,130,900
Accrued investment management services fee 10,611
Accrued distribution and service fees 12,281
Accrued transfer agency fee 16,247
Accrued administrative services fee 4,358
Other accrued expenses 323,084
_____________________________________________________________________________________________________________
Total liabilities 169,101,056
_____________________________________________________________________________________________________________
Net assets applicable to outstanding capital stock $2,490,170,781
_____________________________________________________________________________________________________________
Represented by
_____________________________________________________________________________________________________________
Capital stock -- authorized 10,000,000,000 shares of $.01 par value; $ 1,350,996
Additional paid-in capital 2,262,641,105
Undistributed net investment income 3,871,424
Accumulated net realized gain (Note 1) 44,955,976
Unrealized appreciation 177,351,280
_____________________________________________________________________________________________________________
Total -- representing net assets applicable to outstanding capital stock $2,490,170,781
_____________________________________________________________________________________________________________
Net assets applicable to outstanding shares: Class A $1,840,322,512
Class B $ 4,355,288
Class Y $ 645,492,981
Net asset value per share of outstanding capital stock: Class A shares 99,845,884 $ 18.43
Class B shares 236,461 $ 18.42
Class Y shares 35,017,279 $ 18.43
_____________________________________________________________________________________________________________
See accompanying notes to financial statements. <PAGE>
PAGE
Financial statements
Statement of operations
IDS Stock Fund, Inc.
Six months ended April 30, 1995
_____________________________________________________________________________________________________________
Investment income
_____________________________________________________________________________________________________________
(Unaudited)
Income:
Dividends (net of foreign taxes withheld of $61,165) $ 29,957,196
Dividends earned on affiliated issuers 387,500
Interest 11,069,453
_____________________________________________________________________________________________________________
Total income 41,414,149
_____________________________________________________________________________________________________________
Expenses (Note 2):
Investment management service fee 5,795,647
Distribution fee - Class A 442,174
Transfer agency fee 1,420,723
Service fee 282,678
Administrative services fee 86,164
Compensation of directors 14,358
Compensation of officers 8,270
Custodian fees 168,797
Postage 129,104
Registration fees 106,652
Reports to shareholders 142,950
Audit fees 15,000
Administrative 11,742
Other 26,746
_____________________________________________________________________________________________________________
Total expenses 8,651,005
_____________________________________________________________________________________________________________
Investment income -- net 32,763,144
_____________________________________________________________________________________________________________
Realized and unrealized gain -- net
_____________________________________________________________________________________________________________
Net realized gain on security and foreign currency transactions
(including loss of $24,195 from foreign currency transactions) (Note 3) 41,421,089
Net realized gain on sale of affiliated security 899,240
Net realized gain on closed or expired option contracts written (Note 6) 2,538,054
_____________________________________________________________________________________________________________
Net realized gain on investments and foreign currency 44,858,383
Net change in unrealized appreciation or depreciation 29,136,898
_____________________________________________________________________________________________________________
Net gain on investments and foreign currency 73,995,281
_____________________________________________________________________________________________________________
Net increase in net assets resulting from operations $106,758,425
_____________________________________________________________________________________________________________
See accompanying notes to financial statements.
/TABLE
<PAGE>
PAGE
<TABLE>
<CAPTION>
Financial statements
Statements of changes in net assets
IDS Stock Fund, Inc.
_____________________________________________________________________________________________________________
Operations and distributions April 30, 1995 Oct. 31, 1994
_____________________________________________________________________________________________________________
Six months ended Year ended
(Unaudited)
<S> <C> <C>
Investment income -- net $ 32,763,144 $ 65,435,636
Net realized gain on investments and foreign currency 44,858,383 184,211,972
Net change in unrealized appreciation or depreciation 29,136,898 (163,987,803)
_____________________________________________________________________________________________________________
Net increase in net assets resulting from operations 106,758,425 85,659,805
_____________________________________________________________________________________________________________
Distributions to shareholders from:
Net investment income
Class A (29,172,925) (66,287,242)
Class B (8,041) --
Class Y (4,237,706) --
Net realized gain
Class A (184,130,266) (189,047,838)
_____________________________________________________________________________________________________________
Total distributions (217,548,938) (255,335,080)
_____________________________________________________________________________________________________________
Capital share transactions (Note 4)
_____________________________________________________________________________________________________________
Proceeds from sales
Class A shares (Note 2) 210,895,300 517,092,765
Class B shares 4,327,127 --
Class Y shares 643,903,532 --
Reinvestment of distributions at net asset value
Class A shares 193,648,844 226,574,033
Class B shares 7,726 --
Class Y shares 3,768,090 --
Payments for redemptions
Class A shares (806,584,687) (265,338,433)
Class B shares (Note 2) (36,648) --
Class Y shares (16,718,383) --
_____________________________________________________________________________________________________________
Increase in net assets from capital share transactions 233,210,901 478,328,365
_____________________________________________________________________________________________________________
Total increase in net assets 122,420,388 308,653,090
Net assets at beginning of period 2,367,750,393 2,059,097,303
_____________________________________________________________________________________________________________
Net assets at end of period
(including undistributed net investment income of
$3,871,424 and $4,526,952) $2,490,170,781 $2,367,750,393
_____________________________________________________________________________________________________________
See accompanying notes to financial statements.
</TABLE>
<PAGE>
PAGE
Notes to financial statements
IDS Stock Fund, Inc.
(Unaudited as to April 30, 1995)
______________________________________________________________________________
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. The fund offers
Class A, Class B and Class Y shares. Class A shares are sold with a front-end
sales charge. Class B shares, which the fund began offering on March 20, 1995,
may be subject to a contingent deferred sales charge and such shares
automatically convert to Class A after eight years. Class Y shares, which the
fund also began offering on March 20, 1995, have no sales charge and are
offered only to qualifying institutional investors.
All classes of shares have identical voting, dividend, liquidation and other
rights, and the same terms and conditions, except that the level of
distribution fee, transfer agency fee and service fee (class specific
expenses) differ among classes. Income, expenses (other than class specific
expenses) and realized and unrealized gains or losses on investments are
allocated to each class of shares based upon its relative net assets.
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.
<PAGE>
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 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. The effect of changes in foreign exchange rates on realized and
unrealized security gains and losses is reflected as a component of such gains
or losses. In the statement of operations, net realized gains or losses from
foreign currency transactions may arise from sales of foreign currency, closed
forward contracts, exchange gains or losses realized between the trade date
and settlement dates on securities transactions, and other translation gains
or losses on dividends, interest income and foreign withholding taxes.
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.<PAGE>
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. 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.
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 a prior agreement that ended March 19, 1995, the fund paid
American Express Financial Corporation a fee for managing its investments,
recordkeeping and other specified services. The fee was 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 was 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 was 0.08%
of the fund's average daily net assets after deducting 1% from the performance
difference. If the performance difference was less than 1%, the adjustment
would have been zero. The adjustment decreased the fee by $215,017 for the six
months ended April 30, 1995.
Also under terms of the prior agreement, the fund paid American Express
Financial Corporation 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 was reduced by earnings on monies
pending shareholder redemptions.
<PAGE>
Effective March 20, 1995, when the fund began offering multiple classes of
shares, the fund entered into agreements with American Express Financial
Corporation for managing it's portfolio, providing administrative services and
serving as transfer agent as follows: Under its Investment Management
Services Agreement, American Express Financial Corporation determines which
securities will be purchased, held or sold. The management fee is a percentage
of the fund's average daily net assets in reducing percentages from 0.53% to
0.4% annually. The performance incentive adjustment remains unchanged from the
prior agreement. Under an Administrative Services Agreement, the fund pays
American Express Financial Corporation for administration and accounting
services at a percentage of the fund's average daily net assets in reducing
percentages from 0.04% to 0.02% annually.
Under a separate Transfer Agency Agreement, American Express Financial
Corporation maintains shareholder accounts and records. The fund pays American
Express Financial Corporation an annual fee per shareholder account for this
service as follows:
o Class A $15
o Class B $16
o Class Y $15
Also effective March 20, 1995, the fund entered into agreements with American
Express Financial Advisors Inc. for distribution and shareholder servicing-
related services as follows: Under the Distribution Agreement, the fund pays
a distribution fee at an annual rate of 0.75% of the fund's average daily net
assets attributable to Class B shares for distribution-related services.
Under a Shareholder Service Agreement, the fund pays a fee for service
provided to shareholders by financial advisors and other servicing agents. The
fee is calculated at a rate of 0.175% of the fund's average daily net assets
attributable to Class A and Class B shares.
American Express Financial Corporation will assume and pay any expenses
(except taxes and brokerage commissions) that exceed the most restrictive
applicable state expense limitation.
Sales charges by American Express Financial Advisors Inc. for distributing
fund shares were $1,539,293 for Class A and $20 for Class B for the six months
ended April 30, 1995. The fund also pays custodian fees to American Express
Trust Company, an affiliate of American Express Financial Corporation.
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 $5,408 for the six months ended April 30, 1995.
______________________________________________________________________________
3. Securities transactions
Cost of purchases and proceeds from sales of securities (other than short-term
obligations) aggregated $1,034,734,746 and $754,353,021, respectively, for the
six months ended April 30, 1995. Realized gains and losses are determined on
an identified cost basis.
Brokerage commissions paid to brokers affiliated with American Express
Financial Corporation were $302,267 for the six months ended April 30, 1995.<PAGE>
4. Capital share transactions
Transactions in shares of capital stock for the periods indicated were as
follows:
<TABLE>
<CAPTION>
_______________________________________________________________________________________
Six months ended April 30, 1995 Year ended
10/31/94
Class A Class B* Class Y* Class A
_______________________________________________________________________________________
<S> <C> <C> <C> <C>
Sold 11,749,273 238,046 35,730,041 26,559,784
Issued for reinvested
distributions 11,323,775 426 207,597 11,576,290
Redeemed (44,776,825) (2,011) (920,359) (13,522,239)
_______________________________________________________________________________________
Net increase (decrease) (21,703,777) 236,461 35,017,279 24,613,835
_______________________________________________________________________________________
*Commencement of operations was March 20, 1995.
</TABLE>
______________________________________________________________________________
5. Lending of portfolio securities
At April 30, 1995, securities valued at $68,957,694 were on loan to
brokers. For collateral, the fund received $71,130,900 in cash.
Income from securities lending amounted to $412,322 for the six
months ended April 30, 1995. The risk to the fund of securities
lending are that the borrow may not provide additional collateral
when required or return the securities when due.
______________________________________________________________________________
6. Option contracts written
The number of contracts and premium amounts associated with option contracts
written is as follows:
<TABLE>
<CAPTION>
Six months ended April 30, 1995
______________________________________________________
Puts Calls
Contracts Premium Contracts Premium
______________________________________________________________________________
<S> <C> <C> <C> <C>
Balance Oct. 31, 1994 16,075 $941,712 13,750 $ 848,471
Opened 8,590 442,321 24,616 1,296,712
Closed (4,000) (191,993) (12,750) (733,600)
Expired (15,840) (836,055) (23,891) (1,231,467)
Exercised (4,825) (355,985) (1,725) (180,116)
______________________________________________________________________________
Balance April 30, 1995 -- $ -- -- $ --
______________________________________________________________________________
/TABLE
<PAGE>
PAGE
<TABLE>
<CAPTION>
7. Financial highlights
The table below shows certain important financial
information for evaluating the fund's results.
Fiscal period ended Oct. 31,
Per share income and capital changes*
1995** 1994 1993 1992 1991 1990
Classes
A B Y
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Net asset value, $19.48 $18.02 $18.02 $21.24 $20.05 $20.02 $17.26 $20.76
beginning of period
Income from investment operations:
Net investment income .29 .01 .04 .58 .55 .64 .68 .83
Net gains (losses) .44 .51 .49 .21 2.93 1.11 4.02 (.87)
(both realized and
unrealized)
Total from investment .73 .52 .53 .79 3.48 1.75 4.70 (.04)
operations
Less distributions:
Dividends from net (.26) (.12) (.12) (.60) (.53) (.63) (.74) (.85)
investment income
Distributions from (1.52) -- -- (1.95) (1.76) (1.09) (1.20) (2.61)
realized gains
Total distributions (1.78) (.12) (.12) (2.55) (2.29) (1.72) (1.94) (3.46)
Net asset value, $18.43 $18.42 $18.43 $19.48 $21.24 $20.05 $20.02 $17.26
end of period
Ratios/supplemental data
1995** 1994 1993 1992 1991 1990
Classes
A B Y
Net assets, end of period $1,840 $4 $645 $2,368 $2,059 $1,658 $1,513 $1,213
(in millions)
Ratio of expenses to .76%*** 1.62%*** .65%*** .76% .73% .72% .65% .63%
average daily net assets
Ratio of net income to 2.90%*** 1.33%*** 2.11%*** 2.99% 2.75% 3.21% 3.59% 4.32%
average daily net assets
Portfolio turnover rate 35% 35% 35% 75% 76% 77% 58% 26%
(excluding short-term
securities)
Total return+ 4.5%++ 2.9% 2.9% 3.9% 18.8% 9.4% 29.0% (0.9%)
*For a share outstanding throughout the period. Rounded to the nearest cent.
**Six months ended April 30, 1995 for Class A and commencement of operations
March 20, 1995 for Class B and Y (Unaudited).
***Adjusted to an annual basis.
+Total return does not reflect payment of a sales charge.
++For the fiscal period ended April 30, 1995, the annualized total return is 9.2%.
/TABLE
<PAGE>
PAGE
<TABLE>
<CAPTION>
Investments in securities
IDS Stock Fund, Inc. (Percentages represent value of
April 30, 1995 (Unaudited) investments compared to net assets)
Investments in securities of unaffiliated issuers
_____________________________________________________________________________________________________________________________
Common stocks (84.5%)
_____________________________________________________________________________________________________________________________
Issuer Shares Value(a)
_____________________________________________________________________________________________________________________________
<S> <C> <C>
Aerospace & defense (2.4%)
General Motors Cl H 312,500 $ 12,226,563
Raytheon 250,000 18,187,500
United Technologies 400,000 29,250,000
______________
Total 59,664,063
_____________________________________________________________________________________________________________________________
Automotive & related (3.1%)
Dana 1,050,000 27,037,500
Genuine Parts 500,000 19,375,000
Goodyear Tire & Rubber 800,000 30,400,000
______________
Total 76,812,500
_____________________________________________________________________________________________________________________________
Banks and savings & loans (6.8%)
Ahmanson (HF) 1,000,000 21,000,000
Bank of Boston 500,000 16,750,000
BankAmerica 718,700 35,575,650
First Chicago 700,000 38,675,000
Morgan (JP) 400,000 26,250,000
NationsBank 400,000 20,000,000
Signet Banking 500,000 10,625,000
______________
Total 168,875,650
_____________________________________________________________________________________________________________________________
Beverages & tobacco (2.0%)
Philip Morris 400,000 27,100,000
UST 800,000 22,500,000
______________
Total 49,600,000
_____________________________________________________________________________________________________________________________
Chemicals (1.4%)
Dow Chemical 300,000 20,850,000
Nalco Chemical 400,000 14,000,000
______________
Total 34,850,000
_____________________________________________________________________________________________________________________________
See accompanying notes to investments in securities.<PAGE>
Communications equipment (1.6%)
Ericsson (LM) ADR 9,000,000 (b) 19,687,500
General Instrument 600,000 (c) 20,475,000
______________
Total 40,162,500
_____________________________________________________________________________________________________________________________
Computers & office equipment (3.6%)
Amer Power Conversion 600,000 (c,d) 10,200,000
Cisco Systems 300,000 11,962,500
COMPAQ Computer 450,000 17,100,000
Pitney Bowes 800,000 29,700,000
Solectron 300,000 (c,d) 8,812,500
Sterling Software 200,000 (c) 6,800,000
Wall Data 300,000 (c,d) 5,775,000
______________
Total 90,350,000
_____________________________________________________________________________________________________________________________
Electronics (1.8%)
Applied Materials 200,000 (c) 12,325,000
Arrow Electronics 300,000 (c) 13,950,000
Intel 175,000 17,915,625
______________
Total 44,190,625
_____________________________________________________________________________________________________________________________
Energy (6.9%)
Amoco 400,000 26,250,000
British Petro ADR 200,000 (b) 17,225,000
Exxon 400,000 27,850,000
Repsol ADR 800,000 (b) 25,600,000
Royal Dutch Petroleum 250,000 (b) 31,000,000
TOTAL Cl B 500,000 (c) 15,687,500
YPF Sociedad Anonima ADR 1,340,000 (b) 27,135,000
______________
Total 170,747,500
_____________________________________________________________________________________________________________________________
Energy equipment & services (1.0%)
Schlumberger 400,000 (b) 25,150,000
_____________________________________________________________________________________________________________________________
Financial services (5.5%)
Block (H&R) 400,000 16,850,000
Crown Amer 400,000 5,000,000
Equity Residential 200,000 5,350,000
Mutual Risk Management 500,000 15,375,000
Simon Property Group 500,000 11,875,000
State Street Boston 800,000 25,400,000
Student Loan Mtge Assn 700,000 28,350,000
Travelers 700,000 28,962,500
______________
Total 137,162,500
_____________________________________________________________________________________________________________________________
Food (0.2%)
ConAgra 130,600 4,342,450
_____________________________________________________________________________________________________________________________
Health care (6.2%)
Abbott Laboratories 300,000 11,812,500
Amer Home Products 200,000 15,425,000
Glaxo ADR 1,000,000 (b,d) 23,625,000
Johnson & Johnson 400,000 26,000,000
Merck 600,000 25,725,000
Pfizer 300,000 25,987,500
Schering-Plough 325,000 24,496,875
______________
Total 153,071,875
_____________________________________________________________________________________________________________________________
Health care services (1.6%)
Columbia Healthcare 372,500 15,645,000
Omega Healthcare Investors 200,000 4,775,000
Physician Corp of Amer 500,000 8,937,500
Service Corp Intl 400,000 11,300,000
______________
Total 40,657,500
_____________________________________________________________________________________________________________________________
Industrial equipment & services (5.5%)
Caterpillar 225,000 13,162,500
Deere 175,000 14,350,000
General Signal 700,000 25,987,500
Giddings & Lewis 1,490,000 27,006,250
Illinois Tool Works 600,000 30,075,000
Stewart & Stevenson 700,000 26,250,000
______________
Total 136,831,250
_____________________________________________________________________________________________________________________________
Industrial transportation (2.3%)
Norfolk Southern 425,000 28,634,375
Union Pacific 500,000 27,437,500
______________
Total 56,071,875
_____________________________________________________________________________________________________________________________
Insurance (2.5%)
Amer Intl Group 200,000 21,350,000
Lincoln Natl 500,000 20,375,000
Unum 500,000 21,437,500
______________
Total 63,162,500
_____________________________________________________________________________________________________________________________
Media (4.7%)
Amer Greetings Cl A 902,100 24,582,225
Bell Cablemedia 200,000 (c) 3,325,000
McGraw-Hill 270,000 20,148,750
Reader's Digest Assn 470,000 18,506,250
Tele-Communications Cl A 500,000 (c) 9,562,500
Time Warner 525,000 19,228,125
Viacom Cl B 300,000 (c) 13,762,500
Videotron Holdings ADR 570,000 (b,c) 8,906,250
______________
Total 118,021,600
_____________________________________________________________________________________________________________________________
<PAGE>
Metals (2.9%)
Aluminum Co Amer 312,800 14,036,900
Cyprus Amax Minerals 600,000 16,725,000
Freeport-McMoRan Cooper & Gold Cl A 411,250 8,584,844
Santa Fe Pacific Gold 1,800,000 (c) 22,725,000
SGL Carbon 250,000 (b,c,e) 9,970,250
______________
Total 72,041,994
_____________________________________________________________________________________________________________________________
Multi-industry conglomerates (3.7%)
General Electric 525,000 29,400,000
Grupo Carso ADR 275,000 (b,c,d) 2,940,685
Hanson ADR 1,350,000 (b) 25,650,000
Madeco ADR 175,000 (b,d) 5,096,875
Minnesota Mining & Mfg 500,000 29,812,500
______________
Total 92,900,060
_____________________________________________________________________________________________________________________________
Paper & packaging (3.2%)
Crown Cork & Seal 600,000 (c) 25,650,000
Kimberly-Clark 500,000 28,312,500
Union Camp 500,000 25,062,500
______________
Total 79,025,000
_____________________________________________________________________________________________________________________________
Retail (3.7%)
Gap 750,000 23,906,250
Home Depot 493,700 20,611,975
OfficeMax 650,000 (c) 16,656,250
Penney (JC) 550,000 24,062,500
Pep Boy Manny Moe & Jack 300,000 7,725,000
______________
Total 92,961,975
_____________________________________________________________________________________________________________________________
Soaps & cosmetics (2.5%)
Colgate-Palmolive 64,000 4,496,000
Duracell 500,000 22,000,000
Gillette 300,000 24,600,000
Procter & Gamble 145,600 10,173,800
______________
Total 61,269,800
_____________________________________________________________________________________________________________________________
Utilities - electric (2.0%)
Central Puerto ADR 500,000 (b,c) 9,937,500
National Power 850,000 (b,c,d) 9,668,750
Powergen 775,000 (c,d) 9,881,250
Veba 57,000 (b) 21,211,581
______________
Total 50,699,081
_____________________________________________________________________________________________________________________________
Utilities - natural gas (1.1%)
Enron 157,500 5,355,000
Tenneco 500,000 22,937,500
______________
Total 28,292,500
_____________________________________________________________________________________________________________________________
Utilities - telephone (6.3%)
AirTouch Communications 900,000 (c) 24,187,500
BellSouth 330,400 20,237,000
General Cable 935,000 (b,c,d) 13,148,437
MFS Communications 365,000 (c) 13,048,750
Millicom Intl Cellular 500,000 (b,c) 12,437,500
Pacific Telesis Group 850,000 26,243,750
Southwestern Bell 393,000 17,341,125
U S WEST 750,000 31,031,250
______________
Total 157,675,312
_____________________________________________________________________________________________________________________________
Total common stocks of unaffiliated issuers
(Cost: $1,912,631,576) $2,104,590,110
_____________________________________________________________________________________________________________________________
</TABLE>
<TABLE>
<CAPTION>
Preferred stocks (3.6%)
_____________________________________________________________________________________________________________________________
Issuer Shares Value(a)
_____________________________________________________________________________________________________________________________
<S> <C> <C>
Allstate
$2.30 Cm Cv 280,000 $ 10,115,000
Ceridan
$2.75 Cm Cv 275,000 21,312,500
COINTEL
5.04% Cv 225,000 (f) 11,306,250
First Chicago Nextell
5.50% Cm Cv 900,000 17,437,500
General Motors
3.25% Cm Cv 300,000 18,787,500
Kenetech
$1.67 Cm Cv 783,000 (f) 11,157,750
_____________________________________________________________________________________________________________________________
Total preferred stocks
(Cost: $90,995,376) $ 90,116,500
_____________________________________________________________________________________________________________________________
</TABLE>
<TABLE>
<CAPTION>
Bonds (4.7%)
_____________________________________________________________________________________________________________________________
Principal
Issuer and coupon rate amount Value(a)
_____________________________________________________________________________________________________________________________
<S> <C> <C>
Banco Nacional de Mexico
7% Cv 1999 $ 7,500,000 (b,e) $ 5,025,000
Conner Peripherals
6.75% Cv 2001 15,000,000 11,737,500
Danka Business Systems
6.75% Cv 2002 7,000,000 (e) 7,708,750
Equitable Companies
6.125% Cv 2024 20,000,000 21,875,000
Intl Cable Telephone
7.25% Cv 2005 12,500,000 (d) 12,453,125
NAC Re
5.25% Cv 2002 15,000,000 (e) 13,050,000
Roche Holdings
Zero Coupon
7% Cv 2010 30,000,000 (e,g) 11,025,000
Rogers Communications
Zero Coupon
4.74% Cv 2013 50,000,000 (g) 16,500,000
SynOptics Communications
5.25% 2003 20,000,000 (e) 17,325,000
_____________________________________________________________________________________________________________________________
Total bonds
(Cost: $122,716,896) $ 116,699,375
_____________________________________________________________________________________________________________________________
</TABLE>
<TABLE>
<CAPTION>
Options purchased (0.3%)
_____________________________________________________________________________________________________________________________
Issuer Number of Exercise Expiration Value(a)
of contracts price date
_____________________________________________________________________________________________________________________________
<S> <C> <C> <C> <C>
Put
S&P 500 4,000 $475 June 1995 $ 375,000
3,000 480 June 1995 450,000
2,000 480 Sept. 1995 1,050,000
2,000 485 June 1995 325,000
2,000 490 Sept. 1995 1,100,000
4,000 505 Sept. 1995 3,600,000
_____________________________________________________________________________________________________________________________
Total options purchased
(Cost: $12,513,660) $ 6,900,000
_____________________________________________________________________________________________________________________________
</TABLE>
<TABLE>
<CAPTION>
Short-term securities (10.8%)
_____________________________________________________________________________________________________________________________
Issuer Annualized Amount Value(a)
yield on payable at
date of maturity
purchase
_____________________________________________________________________________________________________________________________
<S> <C> <C> <C>
U.S. government agency (--%)
Federal Home Loan Bank Fidelity Federal
05-05-95 6.25% $ 200,000 $ 199,749
_____________________________________________________________________________________________________________________________
Certificate of Deposit (0.2%)
Natl Bank Detroit
05-11-95 6.01 3,900,000 3,900,013
_____________________________________________________________________________________________________________________________
Commercial paper (10.4%)
AIG Funding
05-31-95 6.03 4,500,000 4,476,080
Amer General
05-08-95 6.03 5,500,000 (h) 5,491,750
Aon
05-10-95 6.00 3,393,000 3,386,811
05-10-95 6.05 3,700,000 3,693,205
AT&T
05-03-95 6.03 4,300,000 4,297,133
Avco Financial Services
06-14-95 6.06 4,000,000 3,969,333
BBV Finance (Delaware)
05-05-95 6.01 800,000 799,203
Becton Dickinson Real Estate
05-18-95 6.02 700,000 (h) 697,791
BellSouth Telecommunications
05-04-95 6.04 3,400,000 3,397,167
05-16-95 5.98 1,200,000 1,196,628
Beneficial
05-03-95 6.08 8,000,000 7,994,126
Cafco
05-09-95 6.01 6,100,000 (h) 6,089,867
Chevron Transport
05-26-95 6.00 3,400,000 (h) 3,384,802
Colgate Palmolive
05-17-95 6.01 8,300,000 (h) 8,275,225
05-18-95 6.00 5,700,000 (h) 5,682,040
Commerzbank U.S. Finance
05-01-95 6.03 2,800,000 2,799,067
Consolidated Rail
05-05-95 6.10 3,000,000 (h) 2,996,980
CPC Intl
07-20-95 6.09 9,300,000 (h) 9,166,633
Deutsche Bank Financial
05-22-95 5.98 8,500,000 8,467,688
Dresdner U.S. Finance
07-07-95 6.36 7,800,000 7,705,663
Dun & Bradstreet
06-01-95 6.15 4,900,000 4,865,221
Fleet Funding
05-04-95 6.11 6,500,000 (h) 6,494,538
05-15-95 6.06 3,900,000 (h) 3,889,565
Ford Motor Credit
05-02-95 6.07 5,600,000 5,596,159
General Electric Capital
06-13-95 6.07 7,400,000 7,339,149
Goldman Sachs Group
05-11-95 6.04 4,200,000 4,191,600
05-24-95 6.06 1,700,000 1,692,905
Household Finance
06-23-95 6.08 9,700,000 9,605,619
Kredietbank North Amer Finance
05-22-95 6.00 6,000,000 5,977,115
Metlife Funding
05-12-95 6.07 12,000,000 11,971,189
Mobile Australia Finance (Delaware)
05-04-95 5.99 5,000,000 (h) 4,995,854
05-23-95 6.00 6,000,000 (h) 5,976,120
Motorola
05-26-95 6.00 4,700,000 4,678,991
PACCAR Financial
05-22-95 6.00 2,400,000 2,390,099
06-01-95 6.13 900,000 894,522
Penney (JC) Funding
05-08-95 6.04 7,000,000 6,989,500
05-16-95 6.01 6,000,000 5,983,085
PepsiCo
05-05-95 6.00 2,700,000 (h) 2,697,314
Pitney Bowes Credit
05-09-95 6.14 7,100,000 7,086,182
SAFECO Credit
06-05-95 6.08 4,000,000 3,999,486
07-17-95 6.10 9,000,000 8,875,600
St. Paul Companies
05-19-95 5.99 5,800,000 (h) 5,780,796
05-25-95 5.99 3,200,000 (h) 3,186,226
Sara Lee
05-10-95 5.99 4,500,000 4,491,805
Societe Generale North Amer
05-04-95 6.03 2,400,000 2,398,000
Southern California Gas
08-16-95 6.45 5,500,000 (h) 5,395,301
Southwestern Bell Telephone
05-15-95 6.00 5,000,000 4,986,733
Toyota Motor Credit
05-25-95 6.00 6,900,000 6,870,299
Unilever Capital
06-12-95 6.01 6,800,000 (h) 6,750,466
United Parcel
05-01-95 6.04 3,200,000 3,198,932
Wachovia Bank Notes
05-22-95 5.99 6,700,000 6,700,085
______________
Total 259,915,648
_____________________________________________________________________________________________________________________________
Letter of credit (0.2%)
Bank of Amer-
AES Barbers Point
05-05-95 6.12 5,000,000 4,994,578
_____________________________________________________________________________________________________________________________
Total short-term securities
(Cost: $269,026,045) $ 269,009,988
_____________________________________________________________________________________________________________________________
Total investments in securities of unaffiliated issuers
(Cost: $2,407,883,553) $2,587,315,973
_____________________________________________________________________________________________________________________________
/TABLE
<PAGE>
<TABLE>
<CAPTION>
Investments in securities of affiliated issuers (i)
_____________________________________________________________________________________________________________________________
Common stocks (1.3%)
_____________________________________________________________________________________________________________________________
Issuer Shares Value(a)
_____________________________________________________________________________________________________________________________
<S> <C> <C>
Lukens 800,000 $ 25,900,000
VMARK Software 500,000 (c) 7,500,000
_____________________________________________________________________________________________________________________________
Total investments in securities of affiliated issuers
(Cost: $35,481,140) $ 33,400,000
_____________________________________________________________________________________________________________________________
Total investments in securities
(Cost: $2,443,364,693)(j) $2,620,715,973
_____________________________________________________________________________________________________________________________
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) Presently non-income producing.
(d) Security is partially or fully on loan. See Note 5 to the financial statements.
(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) PRIDES - Preferred Redeemed Increased Dividend Equity Securities are structured as convertible preferred securities
issued by a company. Investors receive an enhanced yield but based upon a specific formula, potential appreciation is
limited. PRIDES pay dividends, have voting rights, are noncallable for three years and upon maturity, convert into shares
of common stock.
(g) For zero coupon bonds, the interest rate disclosed represents the annualized effective yield on the date of acquisition.
(h) 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.
(i) Investments representing 5% or more of the outstanding voting securities of the issuer.
(j) At April 30, 1995, the cost of securities for federal income tax purposes was approximately $2,442,843,000
and the approximate aggregate gross unrealized appreciation and depreciation based on that cost was:
Unrealized appreciation $249,559,000
Unrealized depreciation (71,686,000)
___________________________________________________________________________________________
Net unrealized appreciation $177,873,000
___________________________________________________________________________________________
/TABLE
<PAGE>
PAGE
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.
Heinz F. Hutter
Former president and chief operating officer, Cargill, Inc.
Anne P. Jones
Attorney and telecommunications consultant.
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.
C. Angus Wurtele
Chairman of the board and chief executive officer, The Valspar
Corporation.
_____________________________________________________________________
Interested directors who are officers and/or employees of American
Express Financial Corporation.
William H. Dudley
Exective vice president, American Express Financial Corporation.
David R. Hubers
President and chief executive officer, American Express Fianacial
Corporation.
<PAGE>
PAGE
John R. Thomas
Senior vice president, American Express Financial Corporation.
_____________________________________________________________________
Officers who also are officers and/or employees of American Express
Financial Corporation.
Peter J.Anderson
Vice president of all funds in the IDS MUTUAL FUND GROUP.
Melinda S. Urion
Treasurer of all funds in the IDS MUTUAL FUND GROUP.
_____________________________________________________________________
Other officer
Leslie L. Ogg
Vice president, general counsel and secretary of all funds in the IDS
MUTUAL FUND GROUP.<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
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<PAGE>
PAGE
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
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
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<PAGE>
PAGE
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 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
IDS Equity Select 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 our 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 Equity Value Fund
Invests primarily in undervalued common stocks that offer potential
for growth of capital and income.
(icon of) three growing flowers<PAGE>
PAGE
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
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 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<PAGE>
PAGE
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.
(icon of) shooting star
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 American Express Shareholder Service, P.O. Box 534,
Minneapolis, MN 55440-0534. Read it carefully before you invest or send
money.<PAGE>
PAGE
Quick telephone reference
American Express 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
American Express Shareholder Service
Fund performance, objectives and account inquiries
612-671-3733
TTY Service
For the hearing impaired
800-846-4852
American Express 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
AMERICAN EXPRESS FINANCIAL ADVISORS
IDS Stock Fund
IDS Tower 10
Minneapolis, MN 55440-0010
