GROWTH TRUST
NSAR-B, 1999-09-29
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<PAGE>      PAGE  1
000 B000000 07/31/99
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001 A000000 GROWTH TRUST
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002 A000000 IDS TOWER 10
002 B000000 MINNEAPOLIS
002 C000000 MN
002 D010000 55440
002 D020000 0010
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000  3
007 C010100  1
007 C020100 GROWTH PORTFOLIO
007 C030100 N
007 C010200  2
007 C020200 GROWTH TRENDS PORTFOLIO
007 C030200 N
007 C010300  3
007 C020300 AGGRESSIVE GROWTH PORTFOLIO
007 C030300 N
007 C010400  4
007 C010500  5
007 C010600  6
007 C010700  7
007 C010800  8
007 C010900  9
007 C011000 10
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008 B00AA01 A
008 C00AA01 801-14721
008 D01AA01 MINNEAPOLIS
008 D02AA01 MN
008 D03AA01 55440
008 D04AA01 0010
010 A00AA01 AMERICAN EXPRESS FINANCIAL ADVISORS INC.
010 B00AA01 8-16791
010 C01AA01 MINNEAPOLIS
010 C02AA01 MN
010 C03AA01 55440
<PAGE>      PAGE  2
010 C04AA01 0010
013 A00AA01 KPMG LLP
013 B01AA01 MINNEAPOLIS
013 B02AA01 MN
013 B03AA01 55402
013 B04AA01 3900
014 A00AA01 AMERICAN EXPRESS FINANCIAL CORPORATION
014 B00AA01 8-31250
014 A00AA02 AMERICAN EXPRESS FINANCIAL ADVISORS INC.
014 B00AA02 8-16791
014 A00AA03 IDS LIFE INSURANCE COMPANY
014 B00AA03 8-14124
014 A00AA04 IDS SECURITIES CORPORATION
014 B00AA04 8-12550
014 A00AA05 AMERICAN EXPRESS SERVICE CORPORATION
014 B00AA05 8-27456
014 A00AA06 AMERICAN ENTERPRISE INVESTMENT SERVICES INC.
014 B00AA06 8-42582
015 A00AA01 AMERICAN EXPRESS TRUST COMPANY
015 B00AA01 C
015 C01AA01 MINNEAPOLIS
015 C02AA01 MN
015 C03AA01 55402
015 C04AA01 2307
015 E01AA01 X
015 A00AA02 BANK OF NEW YORK
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020 C000001   2703
020 A000002 MORGAN STANLEY & CO., INC.
020 B000002 13-2655998
020 C000002   1260
020 A000003 SALOMON SMITH BARNEY INC.
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020 A000004 GOLDMAN, SACHS & CO.
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020 C000004    916
020 A000005 SANFORD C BERNSTEIN & CO., INC.
020 B000005 13-2625874
020 C000005    844
<PAGE>      PAGE  3
020 A000006 CAPITAL INSTITUTIONAL SERVICES INC.
020 B000006 75-1565705
020 C000006    796
020 A000007 MERRILL LYNCH & CO., INC.
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020 C000007    524
020 A000008 DONALDSON, LUFKIN JENRETTE SEC CORP.
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020 C000008    419
020 A000009 LYNCH, JONES & RYAN RESEARCH
020 B000009 13-3356934
020 C000009    364
020 A000010 BEAR STEARNS & CO., INC.
020 B000010 13-3299429
020 C000010    191
021  000000    11977
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022 B000001 13-2501865
022 C000001    791056
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022 B000002 13-2655998
022 C000002    451497
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022 B000003 13-5674085
022 C000003    451245
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022 B000004 13-2518466
022 C000004    194988
022 D000004    155703
022 A000005 SALOMON SMITH BARNEY INC.
022 B000005 13-1912900
022 C000005    153643
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022 B000006 13-5108880
022 C000006    317601
022 D000006         0
022 A000007 CREDIT SUISSE FIRST BOSTON CORP.
022 B000007 13-5659485
022 C000007    211171
022 D000007     94169
022 A000008 MORGAN GUARANTY
022 B000008 13-3224016
022 C000008    227445
022 D000008     22104
022 A000009 MORGAN (J.P.) SECURITIES INC.
022 B000009 13-3224016
022 C000009     71860
<PAGE>      PAGE  4
022 D000009    104233
022 A000010 NATWEST SECURITIES CORP.
022 B000010 13-3312778
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SIGNATURE   LESLIE L OGG
TITLE       VICE PRESIDENT


<TABLE> <S> <C>


<ARTICLE> 6
<SERIES>
   <NUMBER>  1
   <NAME>  GROWTH PORTFOLIO

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<OVERDIST-NET-GAINS-PRIOR>                0
<GROSS-ADVISORY-FEES>              31067869
<INTEREST-EXPENSE>                        0
<GROSS-EXPENSE>                    31529838
<AVERAGE-NET-ASSETS>             5925034936
<PER-SHARE-NAV-BEGIN>                     0
<PER-SHARE-NII>                           0
<PER-SHARE-GAIN-APPREC>                   0
<PER-SHARE-DIVIDEND>                      0
<PER-SHARE-DISTRIBUTIONS>                 0
<RETURNS-OF-CAPITAL>                      0
<PER-SHARE-NAV-END>                       0
<EXPENSE-RATIO>                           0


</TABLE>

<TABLE> <S> <C>


<ARTICLE> 6
<SERIES>
   <NUMBER>  2
   <NAME>  GROWTH TRENDS PORTFOLIO

<S>                              <C>
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<FISCAL-YEAR-END>                JUL-31-1999
<PERIOD-END>                     JUL-31-1999
<INVESTMENTS-AT-COST>            14486709066
<INVESTMENTS-AT-VALUE>           23268424796
<RECEIVABLES>                       81217773
<ASSETS-OTHER>                      29716315
<OTHER-ITEMS-ASSETS>                       0
<TOTAL-ASSETS>                   23379358884
<PAYABLE-FOR-SECURITIES>            55220462
<SENIOR-LONG-TERM-DEBT>                    0
<OTHER-ITEMS-LIABILITIES>          146353255
<TOTAL-LIABILITIES>                201573717
<SENIOR-EQUITY>                            0
<PAID-IN-CAPITAL-COMMON>                   0
<SHARES-COMMON-STOCK>                      0
<SHARES-COMMON-PRIOR>                      0
<ACCUMULATED-NII-CURRENT>                  0
<OVERDISTRIBUTION-NII>                     0
<ACCUMULATED-NET-GAINS>                    0
<OVERDISTRIBUTION-GAINS>                   0
<ACCUM-APPREC-OR-DEPREC>                   0
<NET-ASSETS>                     23177785167
<DIVIDEND-INCOME>                  139742505
<INTEREST-INCOME>                   78388870
<OTHER-INCOME>                             0
<EXPENSES-NET>                     104437989
<NET-INVESTMENT-INCOME>            113693386
<REALIZED-GAINS-CURRENT>          1170021836
<APPREC-INCREASE-CURRENT>         2460250976
<NET-CHANGE-FROM-OPS>             3743966198
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<DISTRIBUTIONS-OF-GAINS>                   0
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<NUMBER-OF-SHARES-SOLD>                    0
<NUMBER-OF-SHARES-REDEEMED>                0
<SHARES-REINVESTED>                        0
<NET-CHANGE-IN-ASSETS>            5506785728
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<EXPENSE-RATIO>                            0


</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER>  3
   <NAME>  AGGRESSIVE GROWTH PORTFOLIO

<S>                                 <C>
<PERIOD-TYPE>                                YEAR
<FISCAL-YEAR-END>                     JUL-31-1999
<PERIOD-END>                          JUL-31-1999
<INVESTMENTS-AT-COST>                   694722016
<INVESTMENTS-AT-VALUE>                  756473502
<RECEIVABLES>                             4367811
<ASSETS-OTHER>                            2302425
<OTHER-ITEMS-ASSETS>                            0
<TOTAL-ASSETS>                          763143738
<PAYABLE-FOR-SECURITIES>                  4011972
<SENIOR-LONG-TERM-DEBT>                         0
<OTHER-ITEMS-LIABILITIES>                   33196
<TOTAL-LIABILITIES>                       4045168
<SENIOR-EQUITY>                                 0
<PAID-IN-CAPITAL-COMMON>                        0
<SHARES-COMMON-STOCK>                           0
<SHARES-COMMON-PRIOR>                           0
<ACCUMULATED-NII-CURRENT>                       0
<OVERDISTRIBUTION-NII>                          0
<ACCUMULATED-NET-GAINS>                         0
<OVERDISTRIBUTION-GAINS>                        0
<ACCUM-APPREC-OR-DEPREC>                        0
<NET-ASSETS>                            759098570
<DIVIDEND-INCOME>                         6334727
<INTEREST-INCOME>                          754377
<OTHER-INCOME>                                  0
<EXPENSES-NET>                            3946842
<NET-INVESTMENT-INCOME>                   3142262
<REALIZED-GAINS-CURRENT>                 86175979
<APPREC-INCREASE-CURRENT>                18690185
<NET-CHANGE-FROM-OPS>                   108008426
<EQUALIZATION>                                  0
<DISTRIBUTIONS-OF-INCOME>                       0
<DISTRIBUTIONS-OF-GAINS>                        0
<DISTRIBUTIONS-OTHER>                           0
<NUMBER-OF-SHARES-SOLD>                         0
<NUMBER-OF-SHARES-REDEEMED>                     0
<SHARES-REINVESTED>                             0
<NET-CHANGE-IN-ASSETS>                  235984713
<ACCUMULATED-NII-PRIOR>                         0
<ACCUMULATED-GAINS-PRIOR>                       0
<OVERDISTRIB-NII-PRIOR>                         0
<OVERDIST-NET-GAINS-PRIOR>                      0
<GROSS-ADVISORY-FEES>                     3864984
<INTEREST-EXPENSE>                              0
<GROSS-EXPENSE>                           3955755
<AVERAGE-NET-ASSETS>                    614851180
<PER-SHARE-NAV-BEGIN>                           0
<PER-SHARE-NII>                                 0
<PER-SHARE-GAIN-APPREC>                         0
<PER-SHARE-DIVIDEND>                            0
<PER-SHARE-DISTRIBUTIONS>                       0
<RETURNS-OF-CAPITAL>                            0
<PER-SHARE-NAV-END>                             0
<EXPENSE-RATIO>                                 0


</TABLE>


                         Independent Auditors' Report
                        on Internal Accounting Control



The Board of Directors and Shareholders
Growth Trust:


In planning and performing our audit of the financial statements of
Aggressive Growth Portfolio, Growth Portfolio, and Growth
Trends Portfolio (portfolios within Growth Trust) for the year ended
July 31, 1999, we considered its internal control, including control
activities for safeguarding securities, in order to determine our auditing
procedures for the purpose of expressing our opinion on the
financial statements and to comply with the requirements
of Form N-SAR, not to provide assurance on the internal control.

The management of Growth Trust is responsible for
establishing and maintaining internal control. In fulfilling
this responsibility, estimates and judgments by management
are required to assess the expected benefits and related costs
of controls. Generally, controls that are relevant to an audit
pertain to the entity's objective of preparing financial
statements for external purposes that are fairly presented
in conformity with generally accepted accounting
principles. Those controls include the safeguarding of
assets against unauthorized acquisition, use or disposition.

Because of inherent limitations in internal control, errors or
irregularities may occur and not be detected. Also,
projection of any evaluation of internal control to future
periods is subject to the risk that it may become inadequate
because of changes in conditions or that the effectiveness
of the design and operation may deteriorate.

Our consideration of the internal control would not necessarily
disclose all matters in the internal control that might be
material weaknesses under standards established by the
American Institute of Certified Public Accountants.
A material weakness is a condition in which the
design or operation of one or more of the internal
control components does not reduce to a relatively low
level the risk that errors or irregularities in amounts
that would be material in relation to the financial
statements being audited may occur and not be detected
within a timely period by employees in the normal course
of performing their assigned functions. However, we
noted no matters involving the internal control and
its operation, including controls for safeguarding securities,
that we consider to be a material weakness as defined above.



This report is intended solely for the information and use
of management, the Board of Directors of Growth Trust,
and the Securities and Exchange Commission and is not intended
to be and should not be used by anyone other than these specified
parties.




KPMG LLP




Minneapolis, Minnesota
September 3, 1999




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