ARGUS INVESTORS' COUNSEL, INC.

NEW YORK, NY · CIK 7195 · 13F filing filed 2024-10-21

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

$153.3m reported value -5.8% vs Q2 2024

111positions

27.9%in top 10

8 new 21 added 80 reduced 4 sold out vs Q2 2024

Holdings, Q3 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	APPLE INC COM AAPL	AAPL	24,518	$5.7m3.73%	3.73%	Reduced -2.6k	-2,606 -9.6%
2	COSTCO WHSL CORP NEW COM COST	COST	6,266	$5.6m3.62%	3.62%	Reduced -871	-871 -12.2%
3	NVIDIA CORPORATION COM NVDA	NVDA	38,695	$4.7m3.07%	3.07%	Reduced -25.1k	-25,052 -39.3%
4	ELI LILLY & CO COM LLY	LLY	5,274	$4.7m3.05%	3.05%	Reduced -3.0k	-2,999 -36.2%
5	JPMORGAN CHASE & CO COM JPM	JPM	19,866	$4.2m2.73%	2.73%	Reduced -2.4k	-2,373 -10.7%
6	TRANE TECHNOLOGIES PLC SHS TT	TT	9,769	$3.8m2.48%	2.48%	Reduced -180	-180 -1.8%
7	META PLATFORMS INC CL A META	META	6,474	$3.7m2.42%	2.42%	Added +276	+276 4.5%
8	ALPHABET INC CAP STK CL A GOOGL	GOOGL	22,259	$3.7m2.41%	2.41%	Reduced -3.1k	-3,143 -12.4%
9	AMAZON COM INC COM AMZN	AMZN	19,020	$3.5m2.31%	2.31%	Added +1.3k	+1,274 7.2%
10	MICROSOFT CORP COM MSFT	MSFT	7,296	$3.1m2.05%	2.05%	Reduced -1.2k	-1,173 -13.8%
11	BLACKROCK INC COM BLK	BLK	3,281	$3.1m2.03%	2.03%	New
12	VISA INC COM CL A V	V	11,059	$3.0m1.98%	1.98%	Reduced -162	-162 -1.4%
13	OLD DOMINION FREIGHT LINE IN COM ODFL	ODFL	15,231	$3.0m1.97%	1.97%	Reduced -420	-420 -2.7%
14	ANALOG DEVICES INC COM ADI	ADI	12,942	$3.0m1.94%	1.94%	Reduced -256	-256 -1.9%
15	S&P GLOBAL INC COM SPGI	SPGI	5,466	$2.8m1.84%	1.84%	Reduced -140	-140 -2.5%
16	UNITED RENTALS INC COM URI	URI	3,289	$2.7m1.74%	1.74%	Reduced -18	-18 -0.5%
17	ORACLE CORP COM ORCL	ORCL	14,886	$2.5m1.65%	1.65%	Added +2.1k	+2,117 16.6%
18	ADOBE INC COM ADBE	ADBE	4,760	$2.5m1.61%	1.61%	Reduced -517	-517 -9.8%
19	QUANTA SVCS INC COM PWR	PWR	8,197	$2.4m1.59%	1.59%	Added +176	+176 2.2%
20	MCKESSON CORP COM MCK	MCK	4,570	$2.3m1.47%	1.47%	Reduced -53	-53 -1.1%
21	BOSTON SCIENTIFIC CORP COM BSX	BSX	26,795	$2.2m1.46%	1.46%	Added +6.6k	+6,621 32.8%
22	STRYKER CORPORATION COM SYK	SYK	5,741	$2.1m1.35%	1.35%	Reduced -1.4k	-1,430 -19.9%
23	INTUITIVE SURGICAL INC COM NEW ISRG	ISRG	4,151	$2.0m1.33%	1.33%	Reduced -31	-31 -0.7%
24	MICROCHIP TECHNOLOGY INC. COM MCHP	MCHP	24,842	$2.0m1.30%	1.30%	Added +12.3k	+12,257 97.4%
25	HOME DEPOT INC COM HD	HD	4,920	$2.0m1.30%	1.30%	Reduced -760	-760 -13.4%
26	AMERICAN EXPRESS CO COM AXP	AXP	7,156	$1.9m1.27%	1.27%	Reduced -1.7k	-1,727 -19.4%
27	REGENERON PHARMACEUTICALS COM REGN	REGN	1,841	$1.9m1.26%	1.26%	Added +290	+290 18.7%
28	SCHWAB CHARLES CORP COM SCHW	SCHW	29,783	$1.9m1.26%	1.26%	Reduced -529	-529 -1.8%
29	THERMO FISHER SCIENTIFIC INC COM TMO	TMO	3,033	$1.9m1.22%	1.22%	Reduced -31	-31 -1.0%
30	APPLIED MATLS INC COM AMAT	AMAT	9,160	$1.9m1.21%	1.21%	Reduced -109	-109 -1.2%
31	BROADCOM INC COM AVGO	AVGO	10,661	$1.8m1.20%	1.20%	Reduced -3.5k	-3,459 -24.5%
32	AXON ENTERPRISE INC COM AXON	AXON	4,543	$1.8m1.18%	1.18%	Added +51	+51 1.1%
33	EXXON MOBIL CORP COM XOM	XOM	15,417	$1.8m1.18%	1.18%	Reduced -1.9k	-1,850 -10.7%
34	WELLS FARGO CO NEW COM WFC	WFC	31,514	$1.8m1.16%	1.16%	Added +8.1k	+8,107 34.6%
35	NETFLIX INC COM NFLX	NFLX	1,919	$1.4m0.89%	0.89%	Reduced -736	-736 -27.7%
36	WALMART INC COM WMT	WMT	16,264	$1.3m0.86%	0.86%	Reduced -7.5k	-7,521 -31.6%
37	SALESFORCE INC COM CRM	CRM	4,764	$1.3m0.85%	0.85%	Reduced -36	-36 -0.8%
38	PROCTER AND GAMBLE CO COM PG	PG	7,439	$1.3m0.84%	0.84%	Reduced -334	-334 -4.3%
39	AMGEN INC COM AMGN	AMGN	3,826	$1.2m0.80%	0.80%	Reduced -921	-921 -19.4%
40	CATERPILLAR INC COM CAT	CAT	3,145	$1.2m0.80%	0.80%	Reduced -600	-600 -16.0%
41	VERIZON COMMUNICATIONS INC COM VZ	VZ	26,792	$1.2m0.78%	0.78%	Reduced -5.0k	-5,000 -15.7%
42	UNION PAC CORP COM UNP	UNP	4,752	$1.2m0.76%	0.76%	Reduced -755	-755 -13.7%
43	CHEVRON CORP NEW COM CVX	CVX	7,851	$1.2m0.75%	0.75%	Reduced -68	-68 -0.9%
44	NEXTERA ENERGY INC COM NEE	NEE	13,663	$1.2m0.75%	0.75%	Reduced -6.6k	-6,623 -32.6%
45	ISHARES TR RUS 1000 GRW ETF IWF	IWF	3,046	$1.1m0.75%	0.75%	Reduced -1	-1 -0.0%
46	CORNING INC COM GLW	GLW	24,935	$1.1m0.73%	0.73%	Reduced -5.1k	-5,100 -17.0%
47	MARRIOTT INTL INC NEW CL A MAR	MAR	4,514	$1.1m0.73%	0.73%	Reduced -1.3k	-1,347 -23.0%
48	JOHNSON & JOHNSON COM JNJ	JNJ	6,801	$1.1m0.72%	0.72%	Reduced -2.1k	-2,094 -23.5%
49	TJX COS INC NEW COM TJX	TJX	9,115	$1.1m0.70%	0.70%	Reduced -5.2k	-5,225 -36.4%
50	US BANCORP DEL COM NEW USB	USB	23,333	$1.1m0.70%	0.70%	Reduced -4.4k	-4,375 -15.8%
51	MASTERCARD INCORPORATED CL A MA	MA	2,128	$1.1m0.69%	0.69%	Reduced -78	-78 -3.5%
52	PEPSICO INC COM PEP	PEP	6,109	$1.0m0.68%	0.68%	Reduced -1.5k	-1,500 -19.7%
53	INTERNATIONAL PAPER CO COM IP	IP	21,090	$1.0m0.67%	0.67%	Reduced -8.4k	-8,400 -28.5%
54	AMERICAN TOWER CORP NEW COM AMT	AMT	4,425	$1.0m0.67%	0.67%	Reduced -1.5k	-1,505 -25.4%
55	AUTOMATIC DATA PROCESSING IN COM ADP	ADP	3,704	$1.0m0.67%	0.67%	Reduced -1.3k	-1,291 -25.9%
56	TEXAS INSTRS INC COM TXN	TXN	4,954	$1.0m0.67%	0.67%	Reduced -1.9k	-1,925 -28.0%
57	AIR PRODS & CHEMS INC COM APD	APD	3,375	$1.0m0.66%	0.66%	Reduced -1.7k	-1,735 -34.0%
58	GENERAL DYNAMICS CORP COM GD	GD	3,251	$982.5k0.64%	0.64%	Reduced -1.2k	-1,200 -27.0%
59	MORGAN STANLEY COM NEW MS	MS	9,400	$979.9k0.64%	0.64%	Reduced -3.8k	-3,780 -28.7%
60	ZOETIS INC CL A ZTS	ZTS	4,788	$935.5k0.61%	0.61%	Reduced -1.9k	-1,865 -28.0%
61	MCDONALDS CORP COM MCD	MCD	3,068	$934.2k0.61%	0.61%	Reduced -1.3k	-1,300 -29.8%
62	ABBOTT LABS COM ABT	ABT	8,156	$929.8k0.61%	0.61%	Reduced -1.8k	-1,845 -18.4%
63	EMERSON ELEC CO COM EMR	EMR	8,410	$919.8k0.60%	0.60%	Reduced -3.7k	-3,701 -30.6%
64	CISCO SYS INC COM CSCO	CSCO	17,085	$909.3k0.59%	0.59%	Reduced -4.7k	-4,660 -21.4%
65	ILLINOIS TOOL WKS INC COM ITW	ITW	3,427	$898.1k0.59%	0.59%	Reduced -1.4k	-1,355 -28.3%
66	UNITEDHEALTH GROUP INC COM UNH	UNH	1,464	$856.1k0.56%	0.56%	Reduced -88	-88 -5.7%
67	BECTON DICKINSON & CO COM BDX	BDX	3,460	$834.2k0.54%	0.54%	Reduced -600	-600 -14.8%
68	PFIZER INC COM PFE	PFE	27,940	$808.6k0.53%	0.53%	Reduced -11.3k	-11,300 -28.8%
69	DISNEY WALT CO COM DIS	DIS	8,335	$801.7k0.52%	0.52%	Reduced -2.1k	-2,110 -20.2%
70	TARGA RES CORP COM TRGP	TRGP	5,398	$799.0k0.52%	0.52%	New
71	NUCOR CORP COM NUE	NUE	5,256	$790.2k0.52%	0.52%	Reduced -2.3k	-2,265 -30.1%
72	CINTAS CORP COM CTAS	CTAS	3,536	$728.0k0.47%	0.47%	Reduced -288	-288 -7.5%
73	HCA HEALTHCARE INC COM HCA	HCA	1,519	$617.4k0.40%	0.40%	Reduced -109	-109 -6.7%
74	DELL TECHNOLOGIES INC CL C DELL	DELL	5,129	$608.0k0.40%	0.40%	New
75	ISHARES TR 3 7 YR TREAS BD IEI	IEI	5,032	$601.9k0.39%	0.39%	New
76	INTUIT COM INTU	INTU	939	$582.9k0.38%	0.38%	Reduced -66	-66 -6.6%
77	KLA CORP COM NEW KLAC	KLAC	750	$580.8k0.38%	0.38%	Reduced -134	-134 -15.2%
78	D R HORTON INC COM DHI	DHI	3,001	$572.5k0.37%	0.37%	Reduced -238	-238 -7.3%
79	NASDAQ INC COM NDAQ	NDAQ	7,736	$564.8k0.37%	0.37%	Reduced -641	-641 -7.7%
80	BONDBLOXX ETF TRUST BLOOMBERG SIX MN XHLF	XHLF	11,124	$561.1k0.37%	0.37%	Reduced -1.1k	-1,115 -9.1%
81	JACOBS SOLUTIONS INC COM J	J	4,267	$558.5k0.36%	0.36%	Added +117	+117 2.8%
82	VANGUARD BD INDEX FDS SHORT TRM BOND BSV	BSV	7,013	$551.9k0.36%	0.36%	Reduced -430	-430 -5.8%
83	VANGUARD SCOTTSDALE FDS INT-TERM CORP VCIT	VCIT	6,307	$528.2k0.34%	0.34%	Reduced -394	-394 -5.9%
84	PARKER-HANNIFIN CORP COM PH	PH	835	$527.6k0.34%	0.34%	Reduced -62	-62 -6.9%
85	BONDBLOXX ETF TRUST BLOOMBERG ONE YR XONE	XONE	10,079	$503.3k0.33%	0.33%	Reduced -9.1k	-9,140 -47.6%
86	DUKE ENERGY CORP NEW COM NEW DUK	DUK	4,338	$500.2k0.33%	0.33%	Unchanged
87	AMERICAN INTL GROUP INC COM NEW AIG	AIG	6,771	$495.8k0.32%	0.32%	Reduced -364	-364 -5.1%
88	ISHARES TR FLTG RATE NT ETF FLOT	FLOT	9,607	$490.3k0.32%	0.32%	Added +398	+398 4.3%
89	BADGER METER INC COM BMI	BMI	2,173	$474.6k0.31%	0.31%	Reduced -228	-228 -9.5%
90	INVESCO EXCH TRADED FD TR II PFD ETF PGX	PGX	37,689	$465.5k0.30%	0.30%	Reduced -3.8k	-3,837 -9.2%
91	CHIPOTLE MEXICAN GRILL INC COM CMG	CMG	7,505	$432.4k0.28%	0.28%	Added +305	+305 4.2%
92	WASTE MGMT INC DEL COM WM	WM	2,040	$423.4k0.28%	0.28%	Added +142	+142 7.5%
93	INTERNATIONAL BUSINESS MACHS COM IBM	IBM	1,907	$421.6k0.28%	0.28%	New
94	ARISTA NETWORKS INC COM COM		1,096	$420.7k0.27%	0.27%	Added +64	+64 6.2%
95	SCHWAB STRATEGIC TR US DIVIDEND EQ SCHD	SCHD	4,768	$403.0k0.26%	0.26%	Added +355	+355 8.0%
96	RAYMOND JAMES FINL INC COM RJF	RJF	3,251	$398.1k0.26%	0.26%	Reduced -258	-258 -7.3%
97	ROPER TECHNOLOGIES INC COM ROP	ROP	709	$394.5k0.26%	0.26%	Reduced -56	-56 -7.3%
98	ISHARES TR RUSSELL 2000 ETF IWM	IWM	1,714	$378.6k0.25%	0.25%	Reduced -6	-6 -0.3%
99	NOVO-NORDISK A S ADR NVO	NVO	3,104	$369.6k0.24%	0.24%	Added +114	+114 3.8%
100	TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADS TSM	TSM	2,121	$368.4k0.24%	0.24%	Added +140	+140 7.1%

Sold out since Q2 2024

Security	Ticker	Shares held before	Value then
BLACKROCK INC BLK	BLK	3,426	$2.7m3.4k shares
INTEL CORP INTC	INTC	24,010	$743.6k24.0k shares
CONOCOPHILLIPS COP	COP	5,418	$619.7k5.4k shares
FASTENAL CO FAST	FAST	7,101	$446.2k7.1k shares