ARGUS INVESTORS' COUNSEL, INC.

NEW YORK, NY · CIK 7195 · 13F filing filed 2024-07-22

SEC-registered investment adviser since 1960 · corporation

Assets managed$137.3m
Staff8 · 6 in investment roles
Main clients (by assets)Individuals 68%, High net worth individuals 18%, Pension plans 11%
Websiteargusresearch.com
Form ADV · 2026-01-26SEC adviser record

$162.7m reported value -0.1% vs Q1 2024

107positions

30.7%in top 10

11 new 26 added 64 reduced 12 sold out vs Q1 2024

Holdings, Q2 2024

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	NVIDIA CORPORATION COM NVDA	NVDA	63,747	$7.9m4.84%	4.84%	Reduced -10.1k	-10,083 -13.7%
2	ELI LILLY & CO COM LLY	LLY	8,273	$7.5m4.60%	4.60%	Added +692	+692 9.1%
3	COSTCO WHSL CORP NEW COM COST	COST	7,137	$6.1m3.73%	3.73%	Reduced -220	-220 -3.0%
4	APPLE INC COM AAPL	AAPL	27,124	$5.7m3.51%	3.51%	Reduced -308	-308 -1.1%
5	ALPHABET INC CAP STK CL A GOOGL	GOOGL	25,402	$4.6m2.84%	2.84%	Reduced -1.8k	-1,809 -6.7%
6	JPMORGAN CHASE & CO COM JPM	JPM	22,239	$4.5m2.76%	2.76%	Added +582	+582 2.7%
7	MICROSOFT CORP COM MSFT	MSFT	8,469	$3.8m2.33%	2.33%	Reduced -461	-461 -5.2%
8	AMAZON COM INC COM AMZN	AMZN	17,746	$3.4m2.11%	2.11%	Reduced -552	-552 -3.0%
9	TRANE TECHNOLOGIES PLC SHS TT	TT	9,949	$3.3m2.01%	2.01%	Added +403	+403 4.2%
10	META PLATFORMS INC CL A META	META	6,198	$3.1m1.92%	1.92%	Added +265	+265 4.5%
11	ANALOG DEVICES INC COM ADI	ADI	13,198	$3.0m1.85%	1.85%	Added +757	+757 6.1%
12	VISA INC COM CL A V	V	11,221	$2.9m1.81%	1.81%	Reduced -251	-251 -2.2%
13	ADOBE INC COM ADBE	ADBE	5,277	$2.9m1.80%	1.80%	Reduced -253	-253 -4.6%
14	OLD DOMINION FREIGHT LINE IN COM ODFL	ODFL	15,651	$2.8m1.70%	1.70%	Reduced -147	-147 -0.9%
15	MCKESSON CORP COM MCK	MCK	4,623	$2.7m1.66%	1.66%	Added +328	+328 7.6%
16	BLACKROCK INC COM BLK	BLK	3,426	$2.7m1.66%	1.66%	Reduced -830	-830 -19.5%
17	S&P GLOBAL INC COM SPGI	SPGI	5,606	$2.5m1.54%	1.54%	Added +597	+597 11.9%
18	STRYKER CORPORATION COM SYK	SYK	7,171	$2.4m1.50%	1.50%	Added +127	+127 1.8%
19	BROADCOM INC COM AVGO	AVGO	1,412	$2.3m1.39%	1.39%	Reduced -157	-157 -10.0%
20	SCHWAB CHARLES CORP COM SCHW	SCHW	30,312	$2.2m1.37%	1.37%	Added +3.4k	+3,377 12.5%
21	APPLIED MATLS INC COM AMAT	AMAT	9,269	$2.2m1.34%	1.34%	Added +1.0k	+1,031 12.5%
22	UNITED RENTALS INC COM URI	URI	3,307	$2.1m1.31%	1.31%	Added +488	+488 17.3%
23	AMERICAN EXPRESS CO COM AXP	AXP	8,883	$2.1m1.26%	1.26%	Reduced -1.2k	-1,199 -11.9%
24	QUANTA SVCS INC COM PWR	PWR	8,021	$2.0m1.25%	1.25%	Added +1.0k	+1,024 14.6%
25	EXXON MOBIL CORP COM XOM	XOM	17,267	$2.0m1.22%	1.22%	Reduced -1.3k	-1,299 -7.0%
26	HOME DEPOT INC COM HD	HD	5,680	$2.0m1.20%	1.20%	Reduced -506	-506 -8.2%
27	INTUITIVE SURGICAL INC COM NEW ISRG	ISRG	4,182	$1.9m1.14%	1.14%	New
28	ORACLE CORP COM ORCL	ORCL	12,769	$1.8m1.11%	1.11%	New
29	NETFLIX INC COM NFLX	NFLX	2,655	$1.8m1.10%	1.10%	Reduced -361	-361 -12.0%
30	THERMO FISHER SCIENTIFIC INC COM TMO	TMO	3,064	$1.7m1.04%	1.04%	Added +60	+60 2.0%
31	REGENERON PHARMACEUTICALS COM REGN	REGN	1,551	$1.6m1.00%	1.00%	Added +86	+86 5.9%
32	WALMART INC COM WMT	WMT	23,785	$1.6m0.99%	0.99%	Reduced -2.3k	-2,314 -8.9%
33	TJX COS INC NEW COM TJX	TJX	14,340	$1.6m0.97%	0.97%	Reduced -2.0k	-2,000 -12.2%
34	BOSTON SCIENTIFIC CORP COM BSX	BSX	20,174	$1.6m0.95%	0.95%	New
35	AMGEN INC COM AMGN	AMGN	4,747	$1.5m0.91%	0.91%	Reduced -891	-891 -15.8%
36	NEXTERA ENERGY INC COM NEE	NEE	20,286	$1.4m0.88%	0.88%	Reduced -3.1k	-3,100 -13.3%
37	MARRIOTT INTL INC NEW CL A MAR	MAR	5,861	$1.4m0.87%	0.87%	Reduced -726	-726 -11.0%
38	WELLS FARGO CO NEW COM WFC	WFC	23,407	$1.4m0.85%	0.85%	Added +121	+121 0.5%
39	TEXAS INSTRS INC COM TXN	TXN	6,879	$1.3m0.82%	0.82%	Reduced -1.1k	-1,100 -13.8%
40	EMERSON ELEC CO COM EMR	EMR	12,111	$1.3m0.82%	0.82%	Reduced -1.8k	-1,799 -12.9%
41	AXON ENTERPRISE INC COM AXON	AXON	4,492	$1.3m0.81%	0.81%	New
42	AIR PRODS & CHEMS INC COM APD	APD	5,110	$1.3m0.81%	0.81%	Reduced -775	-775 -13.2%
43	VERIZON COMMUNICATIONS INC COM VZ	VZ	31,792	$1.3m0.81%	0.81%	Reduced -4.8k	-4,750 -13.0%
44	JOHNSON & JOHNSON COM JNJ	JNJ	8,895	$1.3m0.80%	0.80%	Reduced -1.1k	-1,069 -10.7%
45	GENERAL DYNAMICS CORP COM GD	GD	4,451	$1.3m0.79%	0.79%	Reduced -700	-700 -13.6%
46	PROCTER AND GAMBLE CO COM PG	PG	7,773	$1.3m0.79%	0.79%	Reduced -1.5k	-1,471 -15.9%
47	MORGAN STANLEY COM NEW MS	MS	13,180	$1.3m0.79%	0.79%	Reduced -2.1k	-2,100 -13.7%
48	INTERNATIONAL PAPER CO COM IP	IP	29,490	$1.3m0.78%	0.78%	Reduced -4.8k	-4,800 -14.0%
49	PEPSICO INC COM PEP	PEP	7,609	$1.3m0.77%	0.77%	Reduced -1.0k	-1,027 -11.9%
50	CATERPILLAR INC COM CAT	CAT	3,745	$1.2m0.77%	0.77%	Reduced -610	-610 -14.0%
51	UNION PAC CORP COM UNP	UNP	5,507	$1.2m0.77%	0.77%	Reduced -702	-702 -11.3%
52	CHEVRON CORP NEW COM CVX	CVX	7,919	$1.2m0.76%	0.76%	Reduced -124	-124 -1.5%
53	SALESFORCE INC COM CRM	CRM	4,800	$1.2m0.76%	0.76%	Added +1.0k	+1,023 27.1%
54	AUTOMATIC DATA PROCESSING IN COM ADP	ADP	4,995	$1.2m0.73%	0.73%	Reduced -3.0k	-3,013 -37.6%
55	NUCOR CORP COM NUE	NUE	7,521	$1.2m0.73%	0.73%	Reduced -1.2k	-1,200 -13.8%
56	CORNING INC COM GLW	GLW	30,035	$1.2m0.72%	0.72%	Reduced -5.0k	-5,000 -14.3%
57	ZOETIS INC CL A ZTS	ZTS	6,653	$1.2m0.71%	0.71%	Reduced -1.6k	-1,646 -19.8%
58	AMERICAN TOWER CORP NEW COM AMT	AMT	5,930	$1.2m0.71%	0.71%	Reduced -1.3k	-1,300 -18.0%
59	MICROCHIP TECHNOLOGY INC. COM MCHP	MCHP	12,585	$1.2m0.71%	0.71%	Added +237	+237 1.9%
60	ILLINOIS TOOL WKS INC COM ITW	ITW	4,782	$1.1m0.70%	0.70%	Reduced -744	-744 -13.5%
61	MCDONALDS CORP COM MCD	MCD	4,368	$1.1m0.68%	0.68%	Reduced -5.5k	-5,548 -56.0%
62	ISHARES TR RUS 1000 GRW ETF IWF	IWF	3,047	$1.1m0.68%	0.68%	Reduced -45	-45 -1.5%
63	US BANCORP DEL COM NEW USB	USB	27,708	$1.1m0.68%	0.68%	Reduced -4.4k	-4,400 -13.7%
64	PFIZER INC COM PFE	PFE	39,240	$1.1m0.67%	0.67%	Reduced -8.2k	-8,200 -17.3%
65	ABBOTT LABS COM ABT	ABT	10,001	$1.0m0.64%	0.64%	Reduced -1.2k	-1,184 -10.6%
66	DISNEY WALT CO COM DIS	DIS	10,445	$1.0m0.64%	0.64%	Reduced -1.6k	-1,615 -13.4%
67	CISCO SYS INC COM CSCO	CSCO	21,745	$1.0m0.63%	0.63%	Reduced -4.6k	-4,594 -17.4%
68	MASTERCARD INCORPORATED CL A MA	MA	2,206	$973.2k0.60%	0.60%	Added +110	+110 5.2%
69	BONDBLOXX ETF TRUST BLOOMBERG ONE YR XONE	XONE	19,219	$951.8k0.58%	0.58%	Unchanged
70	BECTON DICKINSON & CO COM BDX	BDX	4,060	$948.9k0.58%	0.58%	Reduced -600	-600 -12.9%
71	UNITEDHEALTH GROUP INC COM UNH	UNH	1,552	$790.5k0.49%	0.49%	Reduced -218	-218 -12.3%
72	INTEL CORP COM INTC	INTC	24,010	$743.6k0.46%	0.46%	Reduced -4.0k	-4,000 -14.3%
73	KLA CORP COM NEW KLAC	KLAC	884	$728.9k0.45%	0.45%	Reduced -85	-85 -8.8%
74	CINTAS CORP COM CTAS	CTAS	956	$669.4k0.41%	0.41%	Reduced -38	-38 -3.8%
75	INTUIT COM INTU	INTU	1,005	$660.3k0.41%	0.41%	Reduced -53	-53 -5.0%
76	CONOCOPHILLIPS COM COP	COP	5,418	$619.7k0.38%	0.38%	Added +480	+480 9.7%
77	BONDBLOXX ETF TRUST BLOOMBERG SIX MN XHLF	XHLF	12,239	$615.4k0.38%	0.38%	Added +3.4k	+3,387 38.3%
78	JACOBS SOLUTIONS INC COM J	J	4,150	$579.8k0.36%	0.36%	New
79	VANGUARD BD INDEX FDS SHORT TRM BOND BSV	BSV	7,443	$570.9k0.35%	0.35%	Unchanged
80	VANGUARD SCOTTSDALE FDS INT-TERM CORP VCIT	VCIT	6,701	$535.6k0.33%	0.33%	Unchanged
81	AMERICAN INTL GROUP INC COM NEW AIG	AIG	7,135	$529.7k0.33%	0.33%	New
82	HCA HEALTHCARE INC COM HCA	HCA	1,628	$523.0k0.32%	0.32%	Reduced -82	-82 -4.8%
83	NASDAQ INC COM NDAQ	NDAQ	8,377	$504.8k0.31%	0.31%	Reduced -547	-547 -6.1%
84	INVESCO EXCH TRADED FD TR II PFD ETF PGX	PGX	41,526	$479.6k0.29%	0.29%	Added +1.2k	+1,237 3.1%
85	ISHARES TR FLTG RATE NT ETF FLOT	FLOT	9,209	$470.5k0.29%	0.29%	Unchanged
86	D R HORTON INC COM DHI	DHI	3,239	$456.5k0.28%	0.28%	New
87	PARKER-HANNIFIN CORP COM PH	PH	897	$453.7k0.28%	0.28%	Reduced -59	-59 -6.2%
88	CHIPOTLE MEXICAN GRILL INC COM CMG	CMG	7,200	$451.1k0.28%	0.28%	Added +1.6k	+1,650 29.7%
89	BADGER METER INC COM BMI	BMI	2,401	$447.4k0.27%	0.27%	Added +109	+109 4.8%
90	FASTENAL CO COM FAST	FAST	7,101	$446.2k0.27%	0.27%	Reduced -484	-484 -6.4%
91	DUKE ENERGY CORP NEW COM NEW DUK	DUK	4,338	$434.8k0.27%	0.27%	Unchanged
92	RAYMOND JAMES FINL INC COM RJF	RJF	3,509	$433.7k0.27%	0.27%	Reduced -172	-172 -4.7%
93	ROPER TECHNOLOGIES INC COM ROP	ROP	765	$431.2k0.26%	0.26%	Reduced -34	-34 -4.3%
94	NOVO-NORDISK A S ADR NVO	NVO	2,990	$426.8k0.26%	0.26%	Added +1.4k	+1,405 88.6%
95	WASTE MGMT INC DEL COM WM	WM	1,898	$405.0k0.25%	0.25%	New
96	ISHARES TR CORE S&P500 ETF IVV	IVV	738	$403.9k0.25%	0.25%	Reduced -260	-260 -26.1%
97	ARISTA NETWORKS INC COM COM		1,032	$361.7k0.22%	0.22%	Added +2	+2 0.2%
98	MERCK & CO INC COM MRK	MRK	2,883	$356.9k0.22%	0.22%	Added +1.1k	+1,050 57.3%
99	ISHARES TR RUSSELL 2000 ETF IWM	IWM	1,720	$349.0k0.21%	0.21%	Reduced -6	-6 -0.3%
100	TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADS TSM	TSM	1,981	$344.3k0.21%	0.21%	Reduced -15	-15 -0.8%

Sold out since Q1 2024

Security	Ticker	Shares held before	Value then
AUTODESK INC ADSK	ADSK	6,209	$1.6m6.2k shares
NORTHROP GRUMMAN CORP NOC	NOC	2,707	$1.3m2.7k shares
VANGUARD TAX-MANAGED FDS VEA	VEA	18,590	$932.7k18.6k shares
GALLAGHER ARTHUR J & CO AJG	AJG	3,049	$762.4k3.0k shares
DARDEN RESTAURANTS INC DRI	DRI	2,368	$395.8k2.4k shares
VANGUARD INDEX FDS VB	VB	1,480	$338.3k1.5k shares
ISHARES INC IEMG	IEMG	5,720	$295.2k5.7k shares
ISHARES TR IJK	IJK	3,200	$292.0k3.2k shares
SPDR SER TR BIL	BIL	3,120	$286.4k3.1k shares
ABBVIE INC ABBV	ABBV	1,359	$247.5k1.4k shares
INTERNATIONAL BUSINESS MACHS IBM	IBM	1,085	$207.2k1.1k shares
COCA COLA CO KO	KO	3,365	$205.9k3.4k shares