BMC Fund N-CSRS Certified semi-annual shareholder report (management investment company)

UNITED STATES

SECURITES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM N-CSRS

CERTIFIED SHAREHOLDER REPORT OF

REGISTERED MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number: 811-3150

BMC FUND, INC.

(Exact name of registrant as specified in charter)

800 GOLFVIEW PARK (P. O. BOX 500)

LENOIR, NC 28645

(Address of principal executive offices) (Zip code)

CAROL FRYE

BMC FUND, INC.

P. O. BOX 500

LENOIR, NC 28645

(Name and address of agent for service)

Registrant's telephone number including area code: 828-758-6100

Date of fiscal year end: October 31, 2007

Date of reporting period: April 30, 2007

Item 1. Report to Stockholders.

BMC FUND, INC.

FINANCIAL STATEMENTS AND

SUPPLEMENTARY INFORMATION

Six Months Ended April 30, 2007

BMC FUND, INC.

TABLE OF CONTENTS

	Page No.
Directors and Officers	1
Letter to Shareholders	2
Graphic Presentation of Portfolio Holdings and Sector Diversification	3
Statement of Assets and Liabilities	4
Statement of Operations	5
Statements of Changes In Net Assets	6
Notes to Financial Statements	7
Financial Highlights	11
Schedules of Investments:
I. - Investments in Securities of Unaffiliated Issuers	12
II. - Investments in Affiliates	25

BMC FUND, INC.

DIRECTORS AND OFFICERS

DIRECTORS
James T. Broyhill	Winston-Salem, North Carolina
Paul H. Broyhill	Lenoir, North Carolina
William E. Cooper	Dallas, Texas
Jan E. Gordon	Palm Harbor, Florida
Allene B. Heilman	Clearwater, Florida
Gene A. Hoots	Charlotte, North Carolina
Brent B. Kincaid	Lenoir, North Carolina
Michael G. Landry	Fort Lauderdale, Florida
John S. Little	Naples, Florida
L. Glenn Orr, Jr.	Winston-Salem, North Carolina
OFFICERS
Paul H. Broyhill	Chairman and Chief Executive Officer
M. Hunt Broyhill	President
Michael G. Landry	Vice President and Chief Investment Officer
Boyd C. Wilson, Jr.	Vice President and Chief Financial Officer
Gene Hendricks	Vice President and Chief Compliance Officer
Carol Frye	Secretary and Treasurer

1

TO OUR SHAREHOLDERS:

We are happy to present to you our semi-annual report (unaudited) for the six months ended April 30, 2007, which we believe contains complete and pertinent financial information.

BMC Fund, Inc. became a Regulated Investment Company (“RIC”) on April 1, 1981. During the six months ended April 30, 2007, the Fund paid the following dividends per share:

December 10, 2006 to shareholders of record November 25, 2006	$	1.55
March 10, 2007 to shareholders of record February 25, 2007		.25
Total	$	1.80

Schedule I is a listing of the entire Fund’s diversified securities at April 30, 2007, with a total market value of $155,653,875.

Paul H. Broyhill, Chief Executive Officer

M. Hunt Broyhill, President

Michael G. Landry, Vice President

2

3

BMC FUND, INC.

STATEMENT OF ASSETS AND LIABILITIES (Unaudited)

April 30, 2007

ASSETS AT MARKET VALUE:
Investment securities (cost - $119,370,075)	$	155,653,875
Investments in affiliates - wholly owned subsidiaries (equity value $15,034,243)		13,383,164
Cash and short-term investments		31,788
Receivables, accrued interest and dividends		150,471
Receivable from broker		1,840,428
Receivable from hedge fund liquidation		9,515
Other assets		57,595
Total assets		171,126,836
LIABILITIES:
Accounts payable and accrued expenses		112,797
Total liabilities		112,797
NET ASSETS AT APRIL 30, 2007 - EQUIVALENT TO $34.67 PER
SHARE ON 4,933,281 SHARES OF COMMON STOCK OUTSTANDING	$	171,014,039
SUMMARY OF SHAREHOLDERS' EQUITY:
Common stock, par value $5.00 per share - authorized 70,000,000 shares;
outstanding, 4,933,281 shares	$	24,666,405
Retained earnings prior to becoming investment company		92,939,370
Undistributed net investment income		10,098,091
Realized gain on investments		3,482,738
Undistributed nontaxable gain		5,194,714
Unrealized appreciation of investments		34,632,721
NET ASSETS APPLICABLE TO COMMON STOCK OUTSTANDING	$	171,014,039
See accompanying notes to financial statements.

4

BMC FUND, INC.

STATEMENT OF OPERATIONS (Unaudited)

Six Months Ended April 30, 2007

INVESTMENT INCOME:
Income:
Interest - fixed income	$	116,823
Other interest and dividends		2,297,027
Equity in earnings of wholly-owned subsidiaries		279,732
Total income		2,693,582
Expenses:
Legal and professional fees		60,185
Directors' fees (Note 3)		23,000
Interest expense		46,680
Investment expense		41,203
Salaries		336,466
Property and liability insurance		32,658
Depreciation expense		1,373
Taxes and licenses		49,942
Rent		9,600
Office supplies and expense		26,412
Dues and subscriptions		24,695
Travel and entertainment		44,334
Total expenses		696,548
Investment income, net		1,997,034
REALIZED AND UNREALIZED GAIN ON INVESTMENTS:
Realized gain from investment securities sold		3,482,738
Change in unrealized appreciation of investments for the period		8,914,235
Net gain on investments		12,396,973
NET INCREASE IN NET ASSETS RESULTING
FROM OPERATIONS	$	14,394,007

See accompanying notes to financial statements.

5

BMC FUND, INC.

STATEMENTS OF CHANGES IN NET ASSETS (Unaudited)

Six Months Ended April 30, 2007 and 2006

	2007			2006
INCREASE IN NET ASSETS FROM OPERATIONS:
Net investment income	$	1,997,034		$	3,505,860
Net realized gain on investments		3,482,738			6,605,516
Change in unrealized appreciation		8,914,235			5,668,181
Net increase in net assets resulting from operations		14,394,007			15,779,557
Distributions to shareholders from:
Net realized gain on investment securities		-			(7,519,823	)
Net investment income		(8,879,906	)		(3,728,058	)
TOTAL INCREASE IN NET ASSETS		5,514,101			4,531,676
NET ASSETS AT BEGINNING OF PERIOD		165,499,938			162,027,098
NET ASSETS AT END OF PERIOD (Including
undistributed net investment income:
2007 - $10,098,091; 2006 - $13,575,052)	$	171,014,039		$	166,558,774

See accompanying notes to financial statements.

6

BMC FUND, INC.

NOTES TO FINANCIAL STATEMENTS (Unaudited)

Six Months Ended April 30, 2007

1. SIGNIFICANT ACCOUNTING POLICIES

BMC Fund, Inc. (the “Company”) is a closed-end, diversified investment company registered under the Investment Company Act of 1940, as amended. Prior to becoming a regulated investment company on April 1, 1981, BMC Fund, Inc. operated as a regular corporation. The following is a summary of significant accounting policies followed by the Company in the preparation of its financial statements. The policies are in conformity with generally accepted accounting principles for investment companies.

A. Investment Valuations - The investment securities are stated at market value as determined by closing prices on national securities exchanges. Investment securities include corporate bonds, mutual funds, and common and preferred stocks.

The investments in limited partnerships, other investments and venture capital are stated at estimated fair value as determined by the management of these investments and are approved by the Company’s Valuation Committee after giving consideration to historical and projected financial results, economic conditions, financial condition of investee and other factors and events subject to change. Because of the inherent uncertainty of those valuations, the estimated values may differ significantly from the values that would have been used had a ready market value for the securities existed, and these differences could be material.

The carrying value of the investments in wholly owned subsidiaries is based on an independent appraisal of the fair market value of the subsidiaries. Equity in earnings of the wholly owned subsidiaries in the statement of operations represents the current year earnings of the subsidiaries accounted for using the equity method.

The carrying value of the investment in real estate is based on an independent appraisal of the fair market value of the real estate.

B. Investment Transactions - Investment transactions are accounted for on the date the order to buy or sell is executed. Realized gains and losses on investments are determined on the basis of specific identification of issues sold or matured. The aggregate dollar amount of purchases and sales of investment securities, other than government securities and short-term debt securities having maturities of one year or less, for the six months ended April 30, 2007 was $58,731,470.

C. Income Taxes - No federal tax provision is required as it is the Company’s policy to comply with the provisions of Subchapter M of the Internal Revenue Code of 1954, as amended, including the distribution to its shareholders of substantially all of its income and any capital gains not offset by capital losses. Also, no state income tax provision has been provided because the states in which the Company has income recognize the tax exempt status of a regulated investment company.

7

BMC FUND, INC.

NOTES TO FINANCIAL STATEMENTS (Unaudited)

Six Months Ended April 30, 2007

1. SIGNIFICANT ACCOUNTING POLICIES (Continued)

D. Dividend Policy - It is the Company’s policy to pay dividends during the year in sufficient amounts to meet the requirements to maintain its status as a regulated investment company.

E. Cash and Short-Term Investments - For purposes of financial reporting, the Company considers all investments at financial institutions with original maturities of three months or less to be equivalent to cash. Short-term money market investments managed by third party investors are included in investment securities.

F. Use of Estimates - The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

2. LINE OF CREDIT

On September 25, 2000 (modified on October 20, 2000 and renewed July 21, 2005), the Company entered into an agreement with a bank for an unsecured line of credit in the amount of $10,000,000 to provide the Company more flexibility in its payment of dividends and management of its investments. The interest rate on any borrowings will be at the LIBOR market index rate plus 125 basis points. No commitment fee is charged on any unused balance. As of April 30, 2007, the Company had no borrowings from this line of credit, which expires on July 31, 2007.

3. ADVISORY BOARD AND REMUNERATION OF DIRECTORS

The Company does not have an advisory board. The independent directors are paid an annual fee of $3,000 plus $1,000 for each meeting attended in person or $500 cash for each meeting attended by telephone. Each such independent director is paid an additional $1,000 for each day attending a committee meeting in person or $500 by telephone other than on the date of a board meeting. In addition, all directors are reimbursed for their reasonable expenses incurred in attending meetings.

4. RELATED PARTIES

The Company owns two wholly-owned subsidiaries, P. B. Realty, Inc. and Broyhill Industries, Inc. As of April 30, 2007, the Company had borrowings of $3,500,000 from P. B. Realty, Inc. The interest rate is the LIBOR three month rate plus 125 basis points.

8

BMC FUND, INC.

NOTES TO FINANCIAL STATEMENTS (Unaudited)

Six Months Ended April 30, 2007

4. RELATED PARTIES (Continued)

The Company leases office space from Broyhill Investments, Inc. which is controlled by Paul H. Broyhill and M. Hunt Broyhill, both officers of BMC Fund, Inc. The expense associated with this related party lease amounted to $9,600 for the six months ended April 30, 2007 and $7,050 for the six months ended April 30, 2006. Broyhill Investments, Inc. also acts as a common paymaster for payroll and other shared services. This service is provided at no cost to the Company. All amounts paid by Broyhill Investments, Inc. on behalf of the Company are reimbursed by the Company. The outstanding payable related to these transactions at April 30, 2007 was $77,491.

5. SUPPLEMENTAL PROXY INFORMATION AND 2007 ANNUAL MEETING OF SHAREHOLDERS

The Annual Meeting of Shareholders of BMC Fund, Inc. was held on February 24, 2007 at The Hyatt, Sarasota, Florida. The meeting was held for the following purposes:

1. To elect the following 10 directors to serve as follows:

Director	Term	Expiring
James T. Broyhill	1 year	2008
Paul H. Broyhill	1 year	2008
William E. Cooper	1 year	2008
Jan E. Gordon	1 year	2008
Allene B. Heilman	1 year	2008
Gene A. Hoots	1 year	2008
Brent B. Kincaid	1 year	2008
Michael G. Landry	1 year	2008
John S. Little	1 year	2008
L. Glenn Orr, Jr.	1 year	2008

2. To vote upon such other business as may come before the meeting.

9

BMC FUND, INC.

NOTES TO FINANCIAL STATEMENTS (Unaudited)

Six Months Ended April 30, 2007

5. SUPPLEMENTAL PROXY INFORMATION AND 2007 ANNUAL MEETING OF SHAREHOLDERS (Continued)

The results of the proxy solicitation on the above matters were as follows:

Director	Votes For		Votes Against		Votes Withheld		Abstentions
James T. Broyhill		4,895,439		0		37,842		0
Paul H. Broyhill		4,895,439		0		37,842		0
William E. Cooper		4,895,439		0		37,842		0
Jan E. Gordon		4,726,380		169,059		37,842		0
Allene B. Heilman		4,895,439		0		37,842		0
Gene A. Hoots		4,895,439		0		37,842		0
Brent B. Kincaid		4,895,439		0		37,842		0
Michael G. Landry		4,895,439		0		37,842		0
John S. Little		4,895,439		0		37,842		0
L. Glenn Orr, Jr.		4,895,439		0		37,842		0

There was no other business voted upon at the Annual Meeting of Shareholders.

SUPPLEMENTAL INFORMATION

Paul H. Broyhill, Chairman and Chief Executive Officer, Michael G. Landry, Vice President and Chief Investment Officer, M. Hunt Broyhill, President, Christopher R. Pavese, CFA, Managing Director, and Dan J. Wakin, Managing Director - Alternative Investments, are primarily responsible for the day-to-day management of the Company’s portfolio. Mr. Paul Broyhill has had such responsibility since the inception of the Fund. Messrs. Landry and Hunt Broyhill have had such responsibility since 2001. Messrs. Landry and Hunt Broyhill have been engaged in asset management for various institutions and high net worth individuals for more than five years. Prior to joining the Company on March 1, 2005, Mr. Pavese was a Vice President and Portfolio Manager at JP Morgan Private Bank from January 1999 until February 2005. At JP Morgan, Mr. Pavese was engaged in asset management, portfolio strategy, and asset allocation for high net worth individuals, personal trusts, endowments and foundations. Mr. Wakin has had such responsibility since February 2006, and has served the Fund in other capacities since 1995.

10

BMC FUND, INC.

FINANCIAL HIGHLIGHTS

Six Months April 30, 2007 (Unaudited), Years Ended October 31, 2006, 2005, 2004, and 2003, Seven Month Period Ended October 31, 2002, and Each of the Five Years in the Period Ended March 31, 2002

The following table presents financial information divided into three parts: per share operating performance, total investment return and ratios and supplemental data for the six months ended April 30, 2007 (Unaudited), the years ended October 31, 2006, 2005, 2004, and 2003, the seven month period ended October 31, 2002, and each of the five years in the period ended March 31, 2002. The first part, per share operating performance, details the changes on a per share basis of the Company's beginning net asset value to its ending net asset value. The second part, total investment return, is based on the market price of the Company's shares of stock. Part three, ratios and supplemental data, provides additional financial information related to the Company's performance.

PER SHARE OPERATING     PERFORMANCE	Six Months Ended April 30, 2007 (Unaudited)			2006			2005			2004			2003			Seven Months Ended October 31, 2002			2002			2001			2000			1999			1998
Net asset value, beginning of period	$	33.55		$	32.84		$	30.94		$	29.17		$	25.46		$	28.95		$	29.44		$	31.84		$	29.01		$	30.55		$	29.33
Net investment income		0.41			1.06			0.88			0.82			0.95			0.59			1.13			1.31			2.11			1.04			1.26
Net gains (losses) on investments		2.51			2.43			2.48			2.08			3.76			(3.45	)		(0.30	)		(2.13	)		2.11			(0.16	)		1.95
Total from investment operations		2.92			3.49			3.36			2.90			4.71			(2.86	)		0.83			(0.82	)		4.22			0.88			3.21
Less distributions:
Dividends from net investment income		0.10			2.37			-			0.65			0.45			0.56			0.84			1.58			1.10			1.49			1.14
Distributions from capital gains		1.70			0.41			1.46			0.48			0.55			0.07			0.48			-			0.29			0.93			0.85
Total distributions		1.80			2.78			1.46			1.13			1.00			0.63			1.32			1.58			1.39			2.42			1.99
Net asset value, end of period	$	34.67		$	33.55		$	32.84		$	30.94		$	29.17		$	25.46		$	28.95		$	29.44		$	31.84		$	29.01		$	30.55
Per share market value, end of period1	$	26.00		$	26.00		$	26.00		$	26.00		$	26.00		$	26.00		$	26.00		$	26.00		$	26.00		$	26.00		$	26.00
TOTAL INVESTMENT RETURN2		22.44	%		13.40	%		12.95	%		11.14	%		18.12	%		(18.85	)%		*3.20	%		(3.15	)%		16.23	%		3.38	%		12.33	%
RATIOS/SUPPLEMENTAL DATA
Net assets, end of period (in thousands)	$	171,014		$	165,500		$	162,027		$	152,623		$	143,910		$	125,596		$	142,811		$	145,221		$	157,057		$	143,092		$	150,705
Ratio of expenses to average net assets3		0.83	%		0.73	%		0.60	%		0.73	%		0.73	%		0.71	%		*0.62	%		0.49	%		0.40	%		0.32	%		0.27	%
Ratio of net investment income to
average net assets3		6.56	%		3.20	%		2.77	%		2.70	%		3.52	%		3.78	%		*3.91	%		4.23	%		6.99	%		3.50	%		4.18	%
Portfolio turnover rate		18.93	%		48.22	%		57.54	%		40.10	%		52.51	%		31.95	%		67.18	%		33.65	%		94.21	%		80.17	%		26.98	%

¹Unaudited - Based on stock trades, which are very limited, during that year.

²Unaudited - Computed as follows: income from investment operations divided by per share market value.

³Average is computed on a quarterly basis.

*Annualized

11

BMC FUND, INC.	SCHEDULE I
INVESTMENTS IN SECURITIES OF UNAFFILIATED ISSUERS (Unaudited)
April 30, 2007

	Coupon									Percent
	Interest			Maturity		Face		Market		of Net
Debt Issuer	Rate			Date		Amount		Value		Assets
FIXED INCOME:
OAKWOOD HOMES CORP		7.875	%		3/1/2004	$	1,000,000	$	480,000
ENRON CORP1		6.750	%		7/1/2005		300,000		-
GENERAL MOTORS ACCEPTANCE CORP		6.125	%		1/22/2008		250,000		249,637
JP MORGAN CHASE & CO NIKKEI INDEX		0.000	%		1/31/2008		3,000,000		3,519,693
UK TREASURY BOND		5.000	%		3/7/2008		3,925,377		3,983,278
LEHMAN BROTHERS HLDGS EAFE INDEX		0.000	%		9/29/2008		1,000,000		1,288,100
LEHMAN BROTHERS HLDGS NIKKEI INDEX		0.000	%		11/15/2008		3,000,000		4,278,600
LEHMAN BROTHERS HLDGS MEDIUM TERM NOTE		0.000	%		3/11/2011		3,000,000		3,260,700
GENERAL MOTORS CORP		9.400	%		7/15/2021		250,000		245,000
POTOMAC TRUST CAPITAL MM S		3.350	%		2/4/2025		1,000,000		1,000,000
TOTAL INVESTMENTS IN FIXED INCOME						$	16,725,377		18,305,008		10.70	%

¹   In default

12

BMC FUND, INC.	SCHEDULE I
INVESTMENTS IN SECURITIES OF UNAFFILIATED ISSUERS (Continued) (Unaudited)
April 30, 2007

							Percent
	Shares				Market		of Net
Company Name	Held		Cost		Value		Assets
MUTUAL FUNDS:
BOND MUTUAL FUNDS:
ABERDEEN GLOBAL INC FD COM		38,500.00	$	500,945	$	511,280
VAN KAMPEN SR INCM TR COM		50,000.00		409,877		445,500
VANGUARD LONG-TERM INV GRADE ADMIRAL SH		105,820.11		1,000,000		976,720
TOTAL BOND MUTUAL FUNDS				1,910,822		1,933,500		1.13	%

13

BMC FUND, INC.	SCHEDULE I
INVESTMENTS IN SECURITIES OF UNAFFILIATED ISSUERS (Continued) (Unaudited)
April 30, 2007

				Percent
	Shares		Market	of Net
Company Name	Held	Cost	Value	Assets

MUTUAL FUNDS:
STOCK MUTUAL FUNDS:
U.S. LARGE CAP EQUITIES
Large Cap Blend
SELECTED AMERN SHS INC COM	5,108.99	$	150,000	$	245,896
SPDR TR UNIT SER 1	5,000.00		548,765		741,450
Total Large Cap Blend			698,765		987,346	0.58	%
Large Cap Value
DODGE & COX STK FD COM	4,146.57		489,147		661,585
EATON VANCE TAX ADVT COM	13,100.00		292,238		385,926
GABELLI DIVIDEND & INCOME TR	12,000.00		229,293		266,280
GMO TR VALUE III	33,419.15		254,197		374,294
Total Large Cap Value			1,264,875		1,688,085	0.98	%
TOTAL U. S. LARGE CAP EQUITIES			1,963,640		2,675,431	1.56	%
U.S. SMALL/MID CAP EQUITIES
Mid Cap Blend
VANGUARD MID CAP VIPER	3,000.00		235,305		235,830
VANGUARD STRATEGIC EQUITY	16,920.62		306,714		433,676
Total Mid Cap Blend			542,019		669,506	0.39	%
Mid Cap Growth
BRANDYWINE FD INC COM	10,053.62		225,000		365,550
VANGUARD CAPITAL OPPOR FUN	4,472.38		100,058		168,698
Total Mid Cap Growth			325,058		534,248	0.31	%
Mid Cap Value
HANCOCK J PATRIOT SLCT COM	10,000.00		152,050		139,600
VANGUARD SELECTED VALUE FU	30,467.10		522,314		681,244
Total Mid Cap Value			674,364		820,844	0.48	%
Small Cap Value
CORNERCAP SMALL CAP VALUE	9,354.54		100,000		116,277
VANGUARD SMALL CAP VALUE I	10,224.95		100,000		180,982
Total Small Cap Value			200,000		297,259	0.18	%
TOTAL U.S. SMALL/MID CAP EQUITIES			1,741,441		2,321,857	1.36	%
INTERNATIONAL EQUITIES
World Stock
POLARIS GLOBAL VALUE FUND	4,938.85		105,000		104,704	0.06	%

14

BMC FUND, INC.	SCHEDULE I
INVESTMENTS IN SECURITIES OF UNAFFILIATED ISSUERS (Continued) (Unaudited)
April 30, 2007

				Percent
	Shares		Market	of Net
Company Name	Held	Cost	Value	Assets

Foreign Large Blend
ISHARES TR MSCI EAFE IDX	12,600.00	$	520,186	$	997,416
UMB SCOUT INTERNATIONAL FUND	5,625.88		200,000		200,619
VANGUARD INTL GROWTH FUND	10,944.15		553,811		894,903
Total Foreign Large Blend			1,273,997		2,092,938	1.22	%
Foreign Large Value
GMO TR FOREIGN II	63,902.32		661,348		1,255,681
GMO TR INTL INTRINSIC VL I	19,384.40		362,936		718,192
ISHARES INC MSCI CDA INDEX	25,500.00		466,086		703,035
Total Foreign Large Value			1,490,370		2,676,908	1.57	%
Foreign Small/Mid Value
TWEEDY BROWNE FD INC GLOBAL	19,958.23		453,541		677,781	0.40	%
Diversified Emerging Markets
ISHARES TR MSCI EMERG MKT	9,000.00		393,810		1,087,560	0.64	%
Diversified Asia Pacific
MORGAN S D WITTR ASIA COM	56,000.00		582,115		1,087,520	0.64	%
European Stock
ISHARES INC MSCI UTD KINGDOM	13,700.00		248,982		340,445
NEW IRELAND FUND INC	16,379.00		188,388		589,153
SPAIN FD COM	25,200.00		214,302		444,024
SWISS HELVETIA FD INC COM	25,479.00		292,159		532,511
Total European Stock			943,831		1,906,133	1.11	%
Japan Stock
ISHARES INC MSCI JAPAN	47,000.00		467,930		671,160
SPDR RUSSELL/NOMURA SMALL	2,000.00		107,348		103,500
VANGUARD PACIFIC STOCK IND	8,303.96		520,000		702,847
VANGUARD PACIFIC VIPERS	10,100.00		506,327		692,052
Total Japan Stock			1,601,605		2,169,559	1.27	%
Asia Ex-Japan Stock
ISHARES INC MSCI AUSTRALIA	41,500.00		663,914		1,124,235
ISHARES INC MSCI SINGAPORE	151,500.00		1,063,650		1,928,595
MATTHEWS INTL FDS ASIAN GR	75,615.05		1,125,000		1,491,885
TAIWAN FD INC COM	26,200.00		282,381		471,600
Total Asia Ex-Japan Stock			3,134,945		5,016,315	2.93	%

15

BMC FUND, INC.	SCHEDULE I
INVESTMENTS IN SECURITIES OF UNAFFILIATED ISSUERS (Continued) (Unaudited)
April 30, 2007

				Percent
	Shares		Market	of Net
Company Name	Held	Cost	Value	Assets

 

Latin American Stock
ISHARES INC MSCI MEXICO	4,000.00	$	157,040	$	221,360	0.13	%
TOTAL INTERNATIONAL EQUITIES			10,136,254		17,040,778	9.97	%
SPECIALTY FUNDS
Real Estate
FIDELITY INTERNATIONAL REAL ESTATE	11,514.57		200,000		199,432	0.12	%
Natural Resources
ENERPLUS RES FD UNIT TR G	10,000.00		481,407		435,000
OIL SVC HOLDRS TR	4,000.00		535,334		626,200
PENGROWTH ENERGY TRUST	30,000.00		546,953		518,100
POWERSHARES ETF TRUST WATER	15,000.00		268,469		291,900
PROVIDENT ENERGY TRUST UNITS	20,000.00		228,130		235,600
Total Natural Resources			2,060,293		2,106,800	1.23	%
Precious Metals
ISHARES COMEX GOLD TR ISHA	30,000.00		1,762,368		2,016,000
MARKET VECTORS ETF TR GOLD	30,000.00		1,064,646		1,186,719
Total Precious Metals			2,827,014		3,202,719	1.87	%
Moderate Allocation
FPA FUNDS TR FPA CRESCENT	10,957.16		194,065		304,609	0.18	%
TOTAL SPECIALTY FUNDS			5,281,372		5,813,560	3.40	%
TOTAL STOCK MUTUAL FUNDS			19,122,707		27,851,626	16.29	%
TOTAL INVESTMENT IN MUTUAL FUNDS		$	21,033,529		29,785,126	17.42	%

16

BMC FUND, INC.	SCHEDULE I
INVESTMENTS IN SECURITIES OF UNAFFILIATED ISSUERS (Continued) (Unaudited)
April 30, 2007

			Market		Percent of
Company Name	Cost		Value		Net Assets
OTHER INVESTMENTS:
LIMITED PARTNERSHIPS:
INSTITUTIONAL BENCHMARKS SERIES LLC:
- CONVERTIBLE HEDGE SERIES	$	1,475,886	$	1,838,592
- EVENT DRIVEN MULTI-STRATEGY SERIES		2,298,592		3,360,522
- MERGER ARBITRAGE SERIES		1,600,000		2,120,591
JMG CAPITAL PARTNERS LP		609,767		1,780,758
LMC COMPASS FUND LP		1,500,000		1,865,067
MARINER PARTNERS LP		750,000		1,612,008
RYE SELECT BROAD MARKET FUND LP		1,000,000		1,030,875
STARK INVESTMENTS LP		1,000,000		2,818,252
STARK STRUCTURED FINANCE ONSHORE FUND		1,000,000		1,172,125
WALNUT INVESTMENT PARTNERS		235,567		208,965
TOTAL LIMITED PARTNERSHIPS		11,469,812		17,807,755		10.41	%
PUT OPTIONS:
BANKRATE PUT OPTION $50 EXP 11/17/2007		52,438		32,100
ISHARES RUSSELL 2000 PUT OPTION $95 EXP 08/18/2007		190,125		140,500
ISHARES TR FTSE PUT OPTION $110 EXP 05/19/2007		135,125		50,000
MCGRAW-HILL PUT OPTION $70 EXP 01/19/2008		16,625		11,800
MOODYS CORP PUT OPTION $80 EXP 01/19/2008		36,425		28,200
TOTAL PUT OPTIONS		430,738		262,600		0.15	%
TOTAL OTHER INVESTMENTS	$	11,900,550		18,070,355		10.56	%

17

BMC FUND, INC.	SCHEDULE I
INVESTMENTS IN SECURITIES OF UNAFFILIATED ISSUERS (Continued) (Unaudited)
April 30, 2007

Sectors and Industries Shares Held Company Name Cost Market Value Percent of Net Assets

COMMON STOCKS:
CONSUMER DISCRETIONARY
Consumer Durables & Apparel	2,000.00	GARMIN LTD ORD	$	98,643	$	116,380
	170,600.00	HEAD N V NY REGISTRY SH		387,678		791,584
	2,500.00	UNDER ARMOUR, INC		106,262		126,250
				592,583		1,034,214	0.61	%
Consumer Services	48,000.00	APPLEBEES INTL INC COM		1,053,979		1,304,640
	28,000.00	CARNIVAL CORP COM		1,116,019		1,368,920
	21,300.00	MCDONALDS CORP COM		439,383		1,028,364
				2,609,381		3,701,924	2.16	%
Media	30,000.00	DISNEY WALT CO COM		701,268		1,049,400
	5,000.00	GANNETT INC COM		284,075		285,300
	500.00	GRUPO TELEVISA SA DE SP AD		14,363		13,950
	55,000.00	NEWS CORP CL B		958,567		1,320,000
				1,958,273		2,668,650	1.56	%
Retailing	5,000.00	AARON RENTS INC COM		102,044		141,850
	3,000.00	AMERN EAGLE OUTFIT NEW COM		88,763		86,610
	30,000.00	HOME DEPOT INC COM		1,027,660		1,136,100
	1,500.00	MEN'S WEARHOUSE		67,242		63,630
	2,000.00	TARGET CORP COM		119,780		117,880
				1,405,489		1,546,070	0.90	%
Automobiles & Components	10,000.00	GENERAL MTRS CORP COM		322,723		312,300
	1,750.00	TOYOTA MTR CP ADS		220,156		212,110
				542,879		524,410	0.31	%
TOTAL CONSUMER DISCRETIONARY				7,108,605		9,475,268	5.54	%
CONSUMER STAPLES
Food & Staples Retailing	5,000.00	BLUE SQUARE ISRAEL ADS		87,963		86,250
	2,000.00	COSTCO COMPANIES INC COM		105,322		107,140
	50,000.00	KROGER CO COM		812,240		1,475,500
	32,000.00	SAFEWAY INC COM NEW		598,650		1,161,600
	3,000.00	SYSCO CORP COM		88,555		98,220
				1,692,730		2,928,710	1.71	%
Food, Beverage & Tobacco	10,000.00	ANHEUSER BUSCH COS INC COM		444,333		491,900
	10,000.00	CADBURY SCHWEPPES PLC ADR		320,147		530,500
	1,000.00	CAMPBELL SOUP CO COM		34,245		39,100
	22,000.00	COCA COLA CO COM		910,468		1,148,180
	33,421.00	DEL MONTE FOODS CO COM		293,012		387,683
	10,000.00	DIAGEO P L C SPON ADR NEW		584,721		844,000
	12,500.00	GENERAL MLS INC COM		615,776		748,750
	10,000.00	GROUP DANONE ADS		302,506		331,800
	11,900.00	HEINZ H J CO COM		399,291		560,609
	15,000.00	KRAFT FOODS INC CL A		468,420		502,050
	12,300.00	NESTLE S A SPONSORED ADR		201,834		1,222,534
	4,000.00	PEPSICO INC COM		216,824		262,920
	3,500.00	SADIA		126,325		149,205
	4,000.00	UST INC		219,273		224,020
				5,137,175		7,443,251	4.35	%

18

BMC FUND, INC.	SCHEDULE I
INVESTMENTS IN SECURITIES OF UNAFFILIATED ISSUERS (Continued) (Unaudited)
April 30, 2007

Sectors and Industries Shares Held Company Name Cost Market Value Percent of Net Assets

Household & Personal Products	40,000.00	AVON PRODS INC COM	$	1,091,907	$	1,592,000
	14,000.00	PROCTER & GAMBLE CO COM		892,366		901,100
				1,984,273		2,493,100	1.46	%
TOTAL CONSUMER STAPLES				8,814,178		12,865,061	7.52	%
			��
ENERGY
Energy	30,000.00	ADVANTAGE ENERGY INCOM TR		345,877		340,200
	18,000.00	BP PLC SPONSORED ADR		1,115,427		1,211,760
	3,000.00	BP PRUDHOE BAY ROYALTY TR		181,391		188,490
	6,200.00	CHEVRON CORP		223,257		482,298
	21,292.00	CONOCOPHILLIPS COM		600,414		1,476,600
	3,500.00	DEVON ENERGY CORP NEW COM		239,902		255,045
	5,000.00	DOUBLE HULL TANKERS COM		75,018		79,650
	25,340.00	ENTERPRISE PRODS PARTN COM		470,956		822,283
	7,104.00	EXXON MOBIL CORP COM		309,274		563,916
	500.00	FRONTIER OIL CORP COM		17,363		17,665
	5,000.00	GENERAL MARITIME CORP SHS		171,432		137,250
	3,000.00	KNIGHTSBRIDGE TANKERS ORD		78,032		87,480
	100.00	MARATHON OIL CORP COM		6,931		10,155
	3,000.00	NORDIC AMERICAN TANKER COM		115,277		115,560
	2,000.00	OVERSEAS SHIPHOLDNG GP COM		126,357		137,300
	4,000.00	PETROLEUM & RES CORP COM		132,543		145,760
	10,000.00	PRECISION DRILLING TR TR U		202,512		239,900
	5,000.00	PRIDE INTL INC DEL COM		148,125		160,800
	3,500.00	ROYAL DUTCH SHELL ADR A		187,274		242,725
	8,792.00	ROYAL DUTCH SHELL ADR B		431,360		621,682
	3,000.00	SAN JUAN BASIN ROYALTY TRU		91,143		95,760
	1,500.00	SPECTRA ENERGY		42,619		39,150
	4,750.00	SUNCOR ENERGY INC COM		366,747		354,175
	2,500.00	SUPERIOR ENERGY SERVICES		79,725		84,325
	4,500.00	TENARIS S A SPONSORED ADR		218,977		208,620
	14,500.00	TEPPCO PARTNERS L P UT LTD		455,590		660,475
	6,000.00	TIDEWATER INC COM		316,997		366,860
	2,088.00	WEATHERFORD INTL LTD COM		97,153		93,599
TOTAL ENERGY				6,847,673		9,239,483	5.40	%
FINANCIALS
Banks	16,000.00	BANK OF AMERICA CORP COM		776,364		811,950
	9,550.00	COMERICA INC COM		474,885		591,241
	50,000.00	HUDSON CITY BANCORP COM		668,276		666,000
	250.00	ICICI BANK		9,452		10,080
	2,500.00	INDYMAC BANCORP INC COM		114,196		73,725
	10,000.00	POPULAR INC COM		168,850		168,100
	16,200.00	US BANCORP DEL COM NEW		318,466		556,470
	1,500.00	WASHINGTON MUT INC COM		61,113		62,970
	1,000.00	WELLS FARGO & CO DEL COM		29,330		35,890
				2,620,932		2,976,426	1.74	%
Diversified Financials	23,800.00	ALLIANCE BERNSTEIN HLDG UN		1,124,767		2,163,598
	14,000.00	ALLIED CAP CORP COM		436,455		404,600
	500.00	BEAR STEARNS COS INC COM		81,003		77,850
	4,500.00	BROOKFIELD ASSET MANAGEMEN		128,037		251,675
	8,133.00	CITIGROUP INC COM		295,171		436,091
	10,064.00	HSBC HLDGS PLC SPON ADR NE		756,535		926,811

19

BMC FUND, INC.	SCHEDULE I
INVESTMENTS IN SECURITIES OF UNAFFILIATED ISSUERS (Continued) (Unaudited)
April 30, 2007

Sectors and Industries Shares Held Company Name Cost Market Value Percent of Net Assets

	2,500.00	INTERNATIONAL SECS EXC CL	$	120,782	$	135,225
	5,000.00	INVESTOOLS INC		49,936		58,150
	10,000.00	J P MORGAN CHASE & CO COM		353,770		521,000
	5,000.00	LLOYDS TSB GROUP PLC SPONS		205,944		233,100
	50.00	MOODYS CORP COM		3,274		3,306
	7,500.00	MORGAN STANLEY COM NEW		393,135		630,075
	2,000.00	NYSE EURONEXT		200,551		168,660
				4,149,360		6,010,141	3.51	%
Insurance	12,000.00	AMERICAN INTL GROUP COM		832,373		834,020
	2.00	BERKSHIRE HATHAWAY A		218,700		218,400
	3,000.00	LOEWS CORP		130,547		138,860
	12,000.00	MANULIFE FINL CORP COM		367,775		433,320
	40,000.00	MARSH & MCLENNAN COS COM		1,154,788		1,270,400
	4,000.00	PRUDENTIAL FINL INC COM		330,023		374,200
				3,034,206		3,269,200	1.91	%
Real Estate	12,000.00	CAPITALSOURCE INC COM		327,557		309,090
	3,000.00	NEW CENTURY FINANCIAL COM		128,820		2,670
				456,377		311,760	0.18	%
TOTAL FINANCIALS				10,260,875		12,567,527	7.34	%
HEALTH CARE
Health Care Equipment &	10,666.00	AMEDISYS INC COM		316,970		328,879
Services	5,000.00	BARD C R INC COM		206,257		415,650
	3,000.00	BAXTER INTL INC COM		150,258		157,290
	9,500.00	CIGNA CORP COM		658,218		1,457,505
	500.00	COVENTRY HEALTH CARE COM		28,213		28,915
	12,000.00	ERESEARCHTECHNOLOGY COM		161,375		104,040
	8,400.00	LABORATORY AMER HLDGS COM		375,170		663,096
	2,500.00	PEDIATRIX MED GROUP COM		116,869		142,625
	7,000.00	QUEST DIAGNOSTICS INC COM		322,209		341,230
	550.00	UNITEDHEALTH GROUP INC COM		27,866		29,183
	2,000.00	WELLCARE HEALTH PLANS		169,773		159,380
				2,533,178		3,827,793	2.24	%
Pharmaceuticals &	12,000.00	AMGEN INC COM		728,796		756,030
Biotechnology	3,000.00	BIOVAIL CORP.		59,573		65,220
	40,000.00	BRISTOL MYERS SQUIBB COM		965,578		1,154,400
	10,000.00	FOREST LABS INC COM		398,899		532,100
	5,500.00	GILEAD SCIENCES INC COM		335,332		403,060
	7,500.00	GLAXOSMITHKLINE PLC SPONSO		387,802		433,350
	10,000.00	JOHNSON & JOHNSON COM		608,249		642,200
	500.00	LIFECELL CORP		14,393		14,325
	500.00	MATRIXX INITIATIVES COM		12,376		9,000
	30,000.00	MERCK & CO INC COM		827,577		1,543,200
	10,000.00	NOVARTIS A G SPONSORED ADR		504,075		580,900
	1,000.00	PDL BIOPHARMA INC COM		31,315		25,260
	30,100.00	PFIZER INC COM		812,583		795,321
	5,000.00	SANGAMO BIOSCIENCES		38,736		35,900

20

BMC FUND, INC.	SCHEDULE I
INVESTMENTS IN SECURITIES OF UNAFFILIATED ISSUERS (Continued) (Unaudited)
April 30, 2007

Sectors and Industries Shares Held Company Name Cost Market Value Percent of Net Assets

	40,000.00	SCHERING PLOUGH CORP COM	$	793,811	$	1,269,200
	11,500.00	SCIELE PHARMA INC COM		260,885		279,980
	12,500.00	WYETH COM		555,515		693,750
				7,335,495		9,233,196	5.40	%
TOTAL HEALTH CARE				9,868,673		13,060,989	7.64	%
INDUSTRIALS
Capital Goods	2,000.00	AERCAP HOLDINGS		54,998		58,340
	4,500.00	CERADYNE INC COM		247,904		259,825
	7,500.00	DRS TECHNOLOGIES INC COM		215,334		377,325
	5,000.00	FORCE PROTECTION		120,477		108,500
	7,000.00	GENERAL DYNAMICS CORP COM		335,505		549,500
	23,000.00	GENERAL ELEC CO COM		673,252		847,780
	2,200.00	KUBOTA CORP ADR		104,760		105,160
	7,500.00	L-3 COMMUNICATNS HLDGS COM		540,465		673,725
	42,655.00	OWENS CORNING		1,545,268		1,307,376
	1,500.00	PARKER HANNIFIN CORP COM		138,573		138,210
	2,500.00	PRECISION CASTPARTS CORP		244,232		253,225
	40,000.00	TYCO INTL LTD NEW COM		724,965		1,305,200
				4,945,733		5,984,166	3.50	%
Commercial Services & Supplies	3,000.00	CINTAS		109,240		110,710
	5,000.00	PORTFOLIO RECOVERY ASSOC C		208,309		278,250
	6,500.00	STERICYCLE INC COM		444,240		559,110
				761,789		948,070	0.56	%
Transportation	10,000.00	CONTINENTAL AIRLINES		361,984		365,600	0.21	%
TOTAL INDUSTRIALS				6,069,506		7,297,836	4.27	%
INFORMATION TECHNOLOGY
Software & Services	200.00	CACI INTL INC CL A		9,943		9,146
	100.00	COGNIZANT TECHNOLOGY SOLUT		7,825		8,940
	2,950.00	GLOBAL SOURCES		48,941		50,475
	53,000.00	MICROSOFT CORP COM		1,410,540		1,586,820
	8,500.00	ORACLE CORP COM		112,350		156,050
				1,589,599		1,811,431	1.06	%
Technology Hardware &	5,750.00	CANON INC ADR		233,352		322,350
Equipment	2,500.00	CISCO SYS INC COM		64,778		66,850
	15,000.00	FOUNDRY NETWORKS INC COM		169,556		226,800
	15,000.00	HEWLETT PACKARD CO COM		365,950		632,100
	10,000.00	INTERNATIONAL BUS MACH COM		728,412		1,022,100
	5,000.00	MOTOROLA INC COM		98,037		86,400
	500.00	SEAGATE TECHNOLOGY SHS		13,030		11,075
				1,673,115		2,367,675	1.38	%
Semiconductors &	500.00	LAM RESEARCH CORP		27,068		26,890
Semiconductor Equipment	500.00	NVIDIA CORP COM		17,076		16,445
				44,144		43,335	0.03	%
TOTAL INFORMATION TECHNOLOGY				3,306,858		4,222,441	2.47	%

21

BMC FUND, INC.	SCHEDULE I
INVESTMENTS IN SECURITIES OF UNAFFILIATED ISSUERS (Continued) (Unaudited)
April 30, 2007

Sectors and Industries Shares Held Company Name Cost Market Value Percent of Net Assets

MATERIALS
Materials	10,000.00	ALLIANCE RES PARTNR LP UT	$	121,950	$	397,200
	500.00	ANGLO AMERN PLC ADR		5,901		13,195
	4,000.00	BHP BILLITON LTD SPONSORED		177,745		193,660
	500.00	CEMEX S A SPON ADR 5 ORD		17,398		16,200
	3,000.00	COMPANHIA SIDERURGICA		124,781		128,330
	2,500.00	MACQUARIE INFRASTRUCTURE		89,255		106,450
	5,000.00	NUCOR CORP COM		300,417		316,110
	6,000.00	SOUTHERN COPPER CORP		438,019		456,150
TOTAL MATERIALS				1,275,466		1,627,295	0.95	%
TELECOMMUNICATION SERVICES
Telecommunication Services	6,000.00	AMERICA MOVIL SA DE CV SPO		276,363		310,180
	10,000.00	AT&T CORP COM		335,778		387,200
	5,000.00	BT GROUP		285,933		314,750
	1,300.00	CHINA MOBILE HONG KONG SPO		60,105		58,513
	7,500.00	CHUNGHWA TELECOM CO SPONSO		136,617		149,250
	2,400.00	MILLICOM INTL CELLULAR		186,721		187,044
	10,000.00	MOBILE TELESYS OJSC SPONSO		456,142		541,140
	17,500.00	PARTNER COMMUNICATIONS		269,459		282,125
	1,500.00	SK TELECOM LTD SPONSORED A		28,945		37,245
	10,000.00	TELECOMUNCA DE SAO PAU SPO		193,980		266,700
	10,000.00	VERIZON COMMUNICATIONS COM		296,520		381,800
TOTAL TELECOMMUNICATION SERVICES				2,526,563		2,915,947	1.71	%
UTILITIES
Utilities	4,000.00	AMERIGAS PARTNERS L P UNIT		124,334		151,800
	3,000.00	CENTERPOINT ENERGY		55,515		56,490
	10,000.00	COMPANHIA DE SANEAMENTO SP		201,178		345,500
	7,000.00	DOMINION RES INC VA COM		460,221		635,800
	3,000.00	DUKE ENERGY CORP COM		59,122		61,560
	12,500.00	ENDESA NACIONAL ELEC SPONS		465,263		682,750
	22,500.00	EXELON CORP COM		738,199		1,696,725
	2,000.00	MIRANT		78,668		82,340
	15,500.00	ONEOK INC NEW COM		301,714		750,355
	7,500.00	QUESTAR CORP COM		234,832		728,475
	65,000.00	TECO ENERGY INC COM		931,803		1,166,750
				3,650,849		6,358,545	3.72	%
TOTAL INVESTMENTS IN COMMON STOCKS			$	59,729,246		79,630,392	46.56	%

22

BMC FUND, INC.	SCHEDULE I
INVESTMENTS IN SECURITIES OF UNAFFILIATED ISSUERS (Continued) (Unaudited)
April 30, 2007

							Percent
	Shares				Market		of Net
Company Name	Held		Cost		Value		Assets
PREFERRED STOCKS:
BLUE WATER TR I		10		$ 1,001,109		$ 1,000,000
LEARNINGSTATION.COM		1,224,661		500,000		300,000
TOTAL INVESTMENTS IN PREFERRED STOCKS				$ 1,501,109		1,300,000		0.76	%

23

BMC FUND, INC.	SCHEDULE I
INVESTMENTS IN SECURITIES OF UNAFFILIATED ISSUERS (Continued) (Unaudited)
April 30, 2007

					Market			Percent of
Industries	Company Name		Cost		Value			Net Assets
Short-term Investments		Evergreen Money Market Fund		$ 8,562,994		$ 8,562,994
Total Short-term Investments				$ 8,562,994		8,562,994			5.01	%
TOTAL INVESTMENTS - MARKET VALUE						$ 155,653,875			91.02	%
Aggregate gross unrealized appreciation of security values						$ 38,317,203
Aggregate gross unrealized depreciation of security values						(2,033,403	)
Net appreciation of security values						36,283,800
Tax cost of securities						119,370,075
Total market value of securities						$ 155,653,875

24

BMC FUND, INC.	SCHEDULE II
INVESTMENTS IN AFFILIATES (Unaudited)
April 30, 2007

	Number of		Amount of Equity
	Shares Held At		In Net Profit			Amount of		Value at
	April 30,		And Loss for the			Dividends		April 30,
Issuer	2007		Period			(1)		2007
Broyhill Industries, Inc. - wholly owned
subsidiary		1,000		$ (15,048	)		$ -		$ 567,191
P. B. Realty, Inc. - wholly owned
subsidiary		1,000		294,780			-		12,815,973
TOTAL				$ 279,732			$ -		$ 13,383,164

(1) All of the dividends received by BMC Fund, Inc. from its wholly owned subsidiaries have been credited to the investment account since BMC Fund, Inc. is accounting for its investment in the subsidiary companies on the equity method.

25

Item. 2. Code of Ethics.

N/A

Item 3. Audit Committee Financial Expert.

N/A

Item 4. Principal Accountant Fees and Services.

N/A

Item 5. Audit Committee of Listed Registrants.

N/A

Item 6. Schedule of Investments.

Included as a part of the report to shareholders filed

under Item 1.

Item 7. Disclosure of Proxy Voting Policies and Procedures for

Closed-End Management Investment Companies.

N/A

Item 8. Portfolio Managers of Closed-End Investment Companies.

N/A

Item 9. Purchases of Equity Securities by Closed-End

Management Investment Company and Affiliated Purchasers.

None

Item 10. Submission of Matters to a Vote of Security Holders.

N/A

Item 11. Controls and Procedures.

Within the 90 days prior to the date of this report, the Registrant's

management carried out an evaluation, under the supervision and with

the participation of Registrant's Chief Executive Officer and Chief

Financial Officer, of the effectiveness of the Registrant's disclosure

controls and procedures pursuant to Rule 30a-3(b) of the Investment

Company Act of 1940. Based upon the evaluation, the Chief Executive

Officer and Chief Financial Officer concluded as of a date within 90

days of the filing of this report that the Registrant's disclosure

controls and procedures are effective in timely alerting them to

material information relating to the Registrant required to be included

in the Registrant's periodic SEC filings.

There were no significant changes in the Registrant's internal control

over financial reporting (as defined in Rule 30a-3(d) under the Investment

Company Act of 1940) that occurred during the second fiscal quarter

of the period covered by the report that have materially affected, or

are reasonably likely to materially affect, the Registrant's internal

control over financial reporting.

Item 12. Exhibits.

(a)(1) N/A

(a)(2) Certifications.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934

and the Investment Company Act of 1940, the Registrant has duly

caused this report to be signed on its behalf by the undersigned,

thereunto duly authorized.

BMC Fund, Inc.

By

/s/ Boyd C. Wilson, Jr.

Boyd C. Wilson, Jr.

Vice President and

Chief Financial Officer

Date: June 21, 2007

Pursuant to the requirements of the Securities Exchange Act of 1934

and the Investment Company Act of 1940, this report has been signed

below by the following persons on behalf of the registrant and in

the capacities and on the dates indicated.

By

/s/ Paul H. Broyhill

Paul H. Broyhill

Chief Executive Officer

Date:June 21, 2007

By

/s/ Boyd C. Wilson, Jr.

Boyd C. Wilson, Jr.

Vice President and

Chief Financial Officer

Date:June 21, 2007