UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549

                                    FORM N-PX

          ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED MANAGEMENT
                               INVESTMENT COMPANY


Investment Company Act file number        811-01873
                                   ---------------------------------------------

                    Principal Growth Fund, Inc.
- --------------------------------------------------------------------------------
               (Exact name of registrant as specified in charter)

711 High Street, Des Moines, Iowa                                50392-2080
- --------------------------------------------------------------------------------
(Address of principal executive offices)                         (Zip code)

    MICHAEL D. ROUGHTON                      Copy to:
    The Principal Financial Group            John W. Blouch, Esq.
    Des Moines, Iowa  50392-0300             Dykema Gossett PLLC
                                             Franklin Square, Suite 300 West
                                             1300 I Street, N.W.
                                             Washington, DC 20005-3306
- --------------------------------------------------------------------------------
                     (Name and address of agent for service)

Registrant's telephone number, including area code:   515-248-3842
                                                    ----------------------------

Date of fiscal year end:   10/31/2004
                           -------------------------

Date of reporting period:  07/01/2004 - 06/30/2005
                           -------------------------


FUND:  Principal Growth Fund, Inc.
Sub-Advisor:  Principal Global Investors LLC

Issuer                                 Ticker     Security        Meeting Date
Symantec Corp.                         SYMC       871503108       09/15/2004
Symantec Corp.                         SYMC       871503108       09/15/2004
Symantec Corp.                         SYMC       871503108       09/15/2004
Symantec Corp.                         SYMC       871503108       09/15/2004
Symantec Corp.                         SYMC       871503108       09/15/2004
Symantec Corp.                         SYMC       871503108       09/15/2004
Symantec Corp.                         SYMC       871503108       09/15/2004
Symantec Corp.                         SYMC       871503108       09/15/2004
Symantec Corp.                         SYMC       871503108       09/15/2004
Symantec Corp.                         SYMC       871503108       09/15/2004
Symantec Corp.                         SYMC       871503108       09/15/2004
Symantec Corp.                         SYMC       871503108       09/15/2004
Maxim Integrated Products, Inc.        MXIM       57772K101       09/17/2004
Paychex, Inc.                          PAYX       704326107       10/06/2004
Paychex, Inc.                          PAYX       704326107       10/06/2004
Paychex, Inc.                          PAYX       704326107       10/06/2004
Paychex, Inc.                          PAYX       704326107       10/06/2004
Paychex, Inc.                          PAYX       704326107       10/06/2004
Paychex, Inc.                          PAYX       704326107       10/06/2004
Paychex, Inc.                          PAYX       704326107       10/06/2004
The Procter & Gamble Company           PG         742718109       10/12/2004
The Procter & Gamble Company           PG         742718109       10/12/2004
The Procter & Gamble Company           PG         742718109       10/12/2004
The Procter & Gamble Company           PG         742718109       10/12/2004
The Procter & Gamble Company           PG         742718109       10/12/2004
The Procter & Gamble Company           PG         742718109       10/12/2004
The Procter & Gamble Company           PG         742718109       10/12/2004
The Procter & Gamble Company           PG         742718109       10/12/2004
The Procter & Gamble Company           PG         742718109       10/12/2004
Linear Technology Corp.                LLTC       535678106       11/03/2004
Linear Technology Corp.                LLTC       535678106       11/03/2004
Linear Technology Corp.                LLTC       535678106       11/03/2004
Linear Technology Corp.                LLTC       535678106       11/03/2004
Linear Technology Corp.                LLTC       535678106       11/03/2004
Linear Technology Corp.                LLTC       535678106       11/03/2004
Coach, Inc.                            COH        189754104       11/03/2004
Coach, Inc.                            COH        189754104       11/03/2004
Coach, Inc.                            COH        189754104       11/03/2004
Coach, Inc.                            COH        189754104       11/03/2004
Coach, Inc.                            COH        189754104       11/03/2004
Coach, Inc.                            COH        189754104       11/03/2004
Coach, Inc.                            COH        189754104       11/03/2004
Coach, Inc.                            COH        189754104       11/03/2004
Microsoft Corp.                        MSFT       594918104       11/09/2004
Microsoft Corp.                        MSFT       594918104       11/09/2004
Microsoft Corp.                        MSFT       594918104       11/09/2004
Microsoft Corp.                        MSFT       594918104       11/09/2004
Microsoft Corp.                        MSFT       594918104       11/09/2004
Microsoft Corp.                        MSFT       594918104       11/09/2004
Microsoft Corp.                        MSFT       594918104       11/09/2004
Microsoft Corp.                        MSFT       594918104       11/09/2004
Microsoft Corp.                        MSFT       594918104       11/09/2004
Microsoft Corp.                        MSFT       594918104       11/09/2004
Microsoft Corp.                        MSFT       594918104       11/09/2004
Microsoft Corp.                        MSFT       594918104       11/09/2004
Microsoft Corp.                        MSFT       594918104       11/09/2004
SYSCO Corporation                      SYY        871829107       11/12/2004
SYSCO Corporation                      SYY        871829107       11/12/2004
SYSCO Corporation                      SYY        871829107       11/12/2004
SYSCO Corporation                      SYY        871829107       11/12/2004
SYSCO Corporation                      SYY        871829107       11/12/2004
SYSCO Corporation                      SYY        871829107       11/12/2004
SYSCO Corporation                      SYY        871829107       11/12/2004
SYSCO Corporation                      SYY        871829107       11/12/2004
Cisco Systems, Inc.                    CSCO       17275R102       11/18/2004
Cisco Systems, Inc.                    CSCO       17275R102       11/18/2004
Cisco Systems, Inc.                    CSCO       17275R102       11/18/2004
Cisco Systems, Inc.                    CSCO       17275R102       11/18/2004
Cisco Systems, Inc.                    CSCO       17275R102       11/18/2004
Cisco Systems, Inc.                    CSCO       17275R102       11/18/2004
Cisco Systems, Inc.                    CSCO       17275R102       11/18/2004
Cisco Systems, Inc.                    CSCO       17275R102       11/18/2004
Cisco Systems, Inc.                    CSCO       17275R102       11/18/2004
Cisco Systems, Inc.                    CSCO       17275R102       11/18/2004
Cisco Systems, Inc.                    CSCO       17275R102       11/18/2004
Cisco Systems, Inc.                    CSCO       17275R102       11/18/2004
Cisco Systems, Inc.                    CSCO       17275R102       11/18/2004
Cisco Systems, Inc.                    CSCO       17275R102       11/18/2004
Maxim Integrated Products, Inc.        MXIM       57772K101       11/18/2004
Maxim Integrated Products, Inc.        MXIM       57772K101       11/18/2004
Maxim Integrated Products, Inc.        MXIM       57772K101       11/18/2004
Maxim Integrated Products, Inc.        MXIM       57772K101       11/18/2004
Maxim Integrated Products, Inc.        MXIM       57772K101       11/18/2004
Maxim Integrated Products, Inc.        MXIM       57772K101       11/18/2004
Maxim Integrated Products, Inc.        MXIM       57772K101       11/18/2004
Varian Medical Systems Inc             VAR        92220P105       02/17/2005
Varian Medical Systems Inc             VAR        92220P105       02/17/2005
Varian Medical Systems Inc             VAR        92220P105       02/17/2005
Varian Medical Systems Inc             VAR        92220P105       02/17/2005
Varian Medical Systems Inc             VAR        92220P105       02/17/2005
Varian Medical Systems Inc             VAR        92220P105       02/17/2005
QUALCOMM Inc.                          QCOM       747525103       03/08/2005
QUALCOMM Inc.                          QCOM       747525103       03/08/2005
QUALCOMM Inc.                          QCOM       747525103       03/08/2005
QUALCOMM Inc.                          QCOM       747525103       03/08/2005
QUALCOMM Inc.                          QCOM       747525103       03/08/2005
QUALCOMM Inc.                          QCOM       747525103       03/08/2005
QUALCOMM Inc.                          QCOM       747525103       03/08/2005


Ticker    Matter Voted On

SYMC      Elect Director Tania Amochaev
SYMC      Elect Director William T. Coleman
SYMC      Elect Director Franciscus Lion
SYMC      Elect Director David Mahoney
SYMC      Elect Director Robert S. Miller
SYMC      Elect Director George Reyes
SYMC      Elect Director Daniel H. Schulman
SYMC      Elect Director John W. Thompson
SYMC      Increase Authorized Common Stock
SYMC      Approve Omnibus Stock Plan
SYMC      Amend Outside Director Stock in Lieu of Cash Plan
SYMC      Ratify Auditors
MXIM      Amend Omnibus Stock Plan
PAYX      Elect Director B. Thomas Golisano
PAYX      Elect Director G. Thomas Clark
PAYX      Elect Director David J. S. Flaschen
PAYX      Elect Director Phillip Horsley
PAYX      Elect Director Grant M. Inman
PAYX      Elect Director J. Robert Sebo
PAYX      Elect Director Joseph M. Tucci
PG        Elect Director R. Kerry Clark
PG        Elect Director Joseph T. Gorman
PG        Elect Director Lynn M. Martin
PG        Elect Director Ralph Snyderman, M.D.
PG        Elect Director Robert D. Storey
PG        Ratify Auditors
PG        Increase Authorized Common Stock
PG        Declassify the Board of Directors
PG        Implement/ Report on Animal Welfare Standards
LLTC      Elect Director Robert H. Swanson, Jr.
LLTC      Elect Director David S. Lee
LLTC      Elect Director Leo T. McCarthy
LLTC      Elect Director Richard M. Moley
LLTC      Elect Director Thomas S. Volpe
LLTC      Ratify Auditors
COH       Elect Director Joseph Ellis
COH       Elect Director Lew Frankfort
COH       Elect Director Sally Frame Kasaks
COH       Elect Director Gary Loveman
COH       Elect Director Irene Miller
COH       Elect Director Keith Monda
COH       Elect Director Michael Murphy
COH       Approve Omnibus Stock Plan
MSFT      Elect Director William H. Gates III
MSFT      Elect Director Steven A. Ballmer
MSFT      Elect Director James I. Cash Jr., Ph.D.
MSFT      Elect Director Raymond V. Gilmartin
MSFT      Elect Director Ann McLaughlin Korologos
MSFT      Elect Director David F. Marquardt
MSFT      Elect Director Charles H. Noski
MSFT      Elect Director Dr. Helmut Panke
MSFT      Elect Director Jon A. Shirley
MSFT      Amend Bundled Compensation Plans
MSFT      Amend Bundled Compensation Plans
MSFT      Amend Stock Option Plan
MSFT      Ratify Auditors
SYY       Elect Director Colin G. Campbell
SYY       Elect Director John M. Cassaday
SYY       Elect Director John K. Stubblefield, Jr.
SYY       Elect Director Jackie M. Ward
SYY       Ratify Auditors
SYY       Approve Stock Option Plan
SYY       Approve Executive Incentive Bonus Plan
SYY       Report on Genetically Engineered Products
CSCO      Elect Director Carol A. Bartz
CSCO      Elect Director M. Michele Burns
CSCO      Elect Director Larry R. Carter
CSCO      Elect Director John T. Chambers
CSCO      Elect Director Dr. James F. Gibbons
CSCO      Elect Director Dr. John L. Hennessy
CSCO      Elect Director Roderick C. McGeary
CSCO      Elect Director James C. Morgan
CSCO      Elect Director John P. Morgridge
CSCO      Elect Director Donald T. Valentine
CSCO      Elect Director Steven M. West
CSCO      Elect Director Jerry Yang
CSCO      Ratify Auditors
CSCO      Report on Pay Disparity
MXIM      Elect Director James R. Bergman
MXIM      Elect Director John F. Gifford
MXIM      Elect Director B. Kipling Hagopian
MXIM      Elect Director M.D. Sampels
MXIM      Elect Director A.R. Frank Wazzan
MXIM      Amend Employee Stock Purchase Plan
MXIM      Ratify Auditors
VAR       Elect Director Susan L. Bostrom
VAR       Elect Director Richard M. Levy
VAR       Elect Director Allen S. Lichter, M.D.
VAR       Elect Director R. Andrew Eckert
VAR       Approve Omnibus Stock Plan
VAR       Ratify Auditors
QCOM      Elect Director Robert E. Kahn
QCOM      Elect Director Duane A. Nelles
QCOM      Elect Director Brent Scowcroft
QCOM      Declassify the Board of Directors and Eliminate Cumulative Voting
QCOM      Increase Authorized Common Stock
QCOM      Amend Articles
QCOM      Ratify Auditors

          Proposed by                Did the                Was Vote for or
Ticker    Issuer or S/H            Registrant Vote   Vote   against management
SYMC      Issuer                       yes            For             For
SYMC      Issuer                       yes            For             For
SYMC      Issuer                       yes            For             For
SYMC      Issuer                       yes            For             For
SYMC      Issuer                       yes            For             For
SYMC      Issuer                       yes            For             For
SYMC      Issuer                       yes            For             For
SYMC      Issuer                       yes            For             For
SYMC      Issuer                       yes            For             For
SYMC      Issuer                       yes            For             For
SYMC      Issuer                       yes            For             For
SYMC      Issuer                       yes            For             For
MXIM      Issuer                       yes            Against         Against
PAYX      Issuer                       yes            For             For
PAYX      Issuer                       yes            Withhold        Against
PAYX      Issuer                       yes            For             For
PAYX      Issuer                       yes            For             For
PAYX      Issuer                       yes            For             For
PAYX      Issuer                       yes            For             For
PAYX      Issuer                       yes            For             For
PG        Issuer                       yes            For             For
PG        Issuer                       yes            For             For
PG        Issuer                       yes            For             For
PG        Issuer                       yes            For             For
PG        Issuer                       yes            For             For
PG        Issuer                       yes            For             For
PG        Issuer                       yes            For             For
PG        Issuer                       yes            For             Against
PG        S/H                          yes            Against         For
LLTC      Issuer                       yes            For             For
LLTC      Issuer                       yes            For             For
LLTC      Issuer                       yes            For             For
LLTC      Issuer                       yes            For             For
LLTC      Issuer                       yes            For             For
LLTC      Issuer                       yes            For             For
COH       Issuer                       yes            For             For
COH       Issuer                       yes            For             For
COH       Issuer                       yes            For             For
COH       Issuer                       yes            For             For
COH       Issuer                       yes            For             For
COH       Issuer                       yes            For             For
COH       Issuer                       yes            For             For
COH       Issuer                       yes            For             For
MSFT      Issuer                       yes            For             For
MSFT      Issuer                       yes            For             For
MSFT      Issuer                       yes            For             For
MSFT      Issuer                       yes            For             For
MSFT      Issuer                       yes            For             For
MSFT      Issuer                       yes            For             For
MSFT      Issuer                       yes            For             For
MSFT      Issuer                       yes            For             For
MSFT      Issuer                       yes            For             For
MSFT      Issuer                       yes            For             For
MSFT      Issuer                       yes            For             For
MSFT      Issuer                       yes            For             For
MSFT      Issuer                       yes            For             For
SYY       Issuer                       yes            For             For
SYY       Issuer                       yes            For             For
SYY       Issuer                       yes            For             For
SYY       Issuer                       yes            For             For
SYY       Issuer                       yes            For             For
SYY       Issuer                       yes            For             For
SYY       Issuer                       yes            For             For
SYY       S/H                          yes            Against         For
CSCO      Issuer                       yes            For             For
CSCO      Issuer                       yes            For             For
CSCO      Issuer                       yes            For             For
CSCO      Issuer                       yes            For             For
CSCO      Issuer                       yes            For             For
CSCO      Issuer                       yes            For             For
CSCO      Issuer                       yes            For             For
CSCO      Issuer                       yes            For             For
CSCO      Issuer                       yes            For             For
CSCO      Issuer                       yes            For             For
CSCO      Issuer                       yes            For             For
CSCO      Issuer                       yes            For             For
CSCO      Issuer                       yes            For             For
CSCO      Issuer                       yes            Against         For
MXIM      Issuer                       yes            Withhold        Against
MXIM      Issuer                       yes            Withhold        Against
MXIM      Issuer                       yes            For             For
MXIM      Issuer                       yes            Withhold        Against
MXIM      Issuer                       yes            For             For
MXIM      Issuer                       yes            For             For
MXIM      Issuer                       yes            For             For
VAR       Issuer                       yes            For             For
VAR       Issuer                       yes            For             For
VAR       Issuer                       yes            For             For
VAR       Issuer                       yes            For             For
VAR       Issuer                       yes            For             For
VAR       Issuer                       yes            For             For
QCOM      Issuer                       yes            For             For
QCOM      Issuer                       yes            Withhold        Against
QCOM      Issuer                       yes            For             For
QCOM      Issuer                       yes            For             For
QCOM      Issuer                       yes            For             For
QCOM      Issuer                       yes            For             For
QCOM      Issuer                       yes            For             For




                                   SIGNATURES

     Pursuant to the  requirements  of 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.


(Registrant)                Principal Growth Fund, Inc.
             -------------------------------------------------------------------


By (Signature and Title)    /s/ Arthur S. Filean
                         -------------------------------------------------------
                            Arthur S. Filean
                            Senior Vice President and Secretary

Date              August 29, 2005
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