Seligman Growth Fund
FUND OBJECTIVE AND STRATEGY:
Seeks long-term capital appreciation by investing primarily in the common stock of large US companies, selected for their growth prospects.
PORTFOLIO MANAGEMENT
Portfolio Manager:
Erik J. Voss, CFA
Erik J. Voss, CFA
Managing Director

Co-Head of the Seligman Core/Growth Investment Team

Joined Seligman: 2006
Industry Experience: 19 years

Mr. Voss serves as Portfolio Manager for the following:

Education:

BS (Mathematics) - The University of Wisconsin
MS (Finance) - The University of Wisconsin

Professional Designations and Affiliations:
Chartered Financial Analyst (CFA)


Investment Team:
Seligman Growth Team



FUND STATISTICS
As of September 30, 2008

Inception April 1, 1937
Total Net Assets $319 million
Number of Holdings 66




TOP 10 HOLDINGS1
As of September 30, 2008
Abbot Laboratories
4.1%
SAVVIS
4.0
Activision Blizzard
4.0
Oracle
3.5
CVS/Caremark
3.1
Comcast (Class A)
3.1
ABB (ADR)
3.1
Transocean
2.8
QUALCOMM
2.8
Macrovision Solutions
2.8
Total
33.3%
TOP 10 INDUSTRY WEIGHTINGS2
As of September 30, 2008
Outside Top 10
35.9%
Software
14.1%
Pharmaceuticals
8.6%
Energy Equipment and Services
8.3%
Internet Software and Services
6.2%
Communications Equipment
5.9%
Biotechnology
5.2%
Media
4.3%
Computers and Peripherals
4.0%
Semiconductors and Semiconductor Equipment
3.8%
Electrical Equipment
3.7%



FUND CHARACTERISTICS
As of September 30, 2008
P/E
18x
Trailing 3 Year EPS Growth
34%
Weighted Average Market Capitalization*
$55,961
Source: Factset. *In millions.
P/E Ratio is the weighted average of the price of each stock in the Fund’s portfolio at September 30, 2008 divided by its after-tax earnings per share over the trailing 12-month period ended on such date, excluding any companies with after-tax losses.

Trailing 3 Year EPS Growth is the weighted average of the change in the earnings per share over the previous 12 quarters of the companies in the Fund’s portfolio at September 30, 2008.

Weighted Average Market Capitalization represents the market capitalizations of companies held in the portfolio.




AVERAGE ANNUAL TOTAL RETURNS
As of September 30, 2008

  1 Year
%
3 Year
%
5 Year
%
10 Year
%
CLASS A without sales charges (26.87) (0.75) 3.63 (0.21)
Class A with sales charges (31.11) (2.66) 2.41 (0.79)
 



GROWTH of $10,000
(Class A Without Sales Charges: 9/30/88 - 9/30/08)


The chart does not reflect the performance of Class B, C, or R shares, which would differ due to different sales charges, fees and expenses. See Important Performance Information.


CALENDAR YEAR TOTAL RETURNS
As of September 30, 2008

Class A Without Sales Charges

Performance does not reflect the effect of sales charges. If such charges were included, performance would be lower. The graph does not reflect the performance of Class B, C, or R shares, which would differ due to different sales charges, fees and expenses. Return figures reflect any change in price per share, and assume the reinvestment of dividends and capital gains, if any. See Important Performance Information.


Annual Fund Operating Expenses
(Expenses that are deducted from Fund assets)

(As of percent of Net Assets) Class A
Shares
Class B/C
Shares
Class R
Shares
Total Annual Operating Expenses 1.35% 2.11% 1.61%
 



NOT FDIC INSURED . NOT BANK GUARANTEED . MAY LOSE VALUE