ARGUS INVESTORS' COUNSEL, INC.

NEW YORK, NY · CIK 7195 · 13F filing filed 2026-01-22

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

$125.2m reported value -0.5% vs Q3 2025

105positions

34.5%in top 10

4 new 44 added 30 reduced 9 sold out vs Q3 2025

Holdings, Q4 2025

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	30,420	$5.7m4.53%	4.53%	Added +2.5k	+2,484 8.9%
2	ALPHABET INC CAP STK CL A GOOGL	GOOGL	17,958	$5.6m4.49%	4.49%	Added +1.5k	+1,464 8.9%
3	APPLE INC COM AAPL	AAPL	17,596	$4.8m3.82%	3.82%	Added +150	+150 0.9%
4	JPMORGAN CHASE & CO COM JPM	JPM	13,590	$4.4m3.50%	3.50%	Added +164	+164 1.2%
5	ELI LILLY & CO COM LLY	LLY	4,071	$4.4m3.49%	3.49%	Added +65	+65 1.6%
6	META PLATFORMS INC CL A META	META	6,302	$4.2m3.32%	3.32%	Reduced -19	-19 -0.3%
7	COSTCO WHSL CORP NEW COM COST	COST	4,594	$4.0m3.16%	3.16%	Added +49	+49 1.1%
8	QUANTA SVCS INC COM PWR	PWR	8,355	$3.5m2.82%	2.82%	Added +7	+7 0.1%
9	ANALOG DEVICES INC COM ADI	ADI	12,744	$3.5m2.76%	2.76%	Added +81	+81 0.6%
10	TRANE TECHNOLOGIES PLC SHS TT	TT	8,457	$3.3m2.63%	2.63%	Added +13	+13 0.1%
11	ORACLE CORP COM ORCL	ORCL	15,989	$3.1m2.49%	2.49%	Reduced -63	-63 -0.4%
12	WELLS FARGO CO NEW COM WFC	WFC	31,416	$2.9m2.34%	2.34%	Added +89	+89 0.3%
13	APPLIED MATLS INC COM AMAT	AMAT	11,361	$2.9m2.33%	2.33%	Added +2.2k	+2,222 24.3%
14	VISA INC COM CL A V	V	8,299	$2.9m2.32%	2.32%	Reduced -10	-10 -0.1%
15	AMAZON COM INC COM AMZN	AMZN	12,574	$2.9m2.32%	2.32%	Reduced -54	-54 -0.4%
16	SCHWAB CHARLES CORP COM SCHW	SCHW	28,736	$2.9m2.29%	2.29%	Reduced -3	-3 -0.0%
17	UNITED RENTALS INC COM URI	URI	3,357	$2.7m2.17%	2.17%	Added +2	+2 0.1%
18	BLACKROCK INC COM BLK	BLK	2,514	$2.7m2.15%	2.15%	Reduced -2	-2 -0.1%
19	BOSTON SCIENTIFIC CORP COM BSX	BSX	26,772	$2.6m2.04%	2.04%	Reduced -23	-23 -0.1%
20	AXON ENTERPRISE INC COM AXON	AXON	4,410	$2.5m2.00%	2.00%	Added +11	+11 0.2%
21	MICROSOFT CORP COM MSFT	MSFT	4,118	$2.0m1.59%	1.59%	Added +99	+99 2.5%
22	S&P GLOBAL INC COM SPGI	SPGI	3,677	$1.9m1.53%	1.53%	Reduced -1.2k	-1,199 -24.6%
23	TARGA RES CORP COM TRGP	TRGP	10,407	$1.9m1.53%	1.53%	Reduced -3.1k	-3,101 -23.0%
24	ARISTA NETWORKS INC COM SHS ANET	ANET	14,317	$1.9m1.50%	1.50%	Added +4	+4 0.0%
25	DOORDASH INC CL A DASH	DASH	6,364	$1.4m1.15%	1.15%	Reduced -9	-9 -0.1%
26	AMERICAN EXPRESS CO COM AXP	AXP	3,874	$1.4m1.14%	1.14%	Added +101	+101 2.7%
27	ROYAL CARIBBEAN GROUP COM RCL	RCL	5,015	$1.4m1.12%	1.12%	Added +32	+32 0.6%
28	BROADCOM INC COM AVGO	AVGO	3,985	$1.4m1.10%	1.10%	Reduced -141	-141 -3.4%
29	SERVICENOW INC COM NOW	NOW	8,671	$1.3m1.06%	1.06%	Reduced -14	-14 -0.2%
30	ADOBE INC COM ADBE	ADBE	3,623	$1.3m1.01%	1.01%	Added +20	+20 0.6%
31	ISHARES TR RUS 1000 GRW ETF IWF	IWF	2,626	$1.2m0.99%	0.99%	Reduced -135	-135 -4.9%
32	PALO ALTO NETWORKS INC COM PANW	PANW	6,449	$1.2m0.95%	0.95%	Reduced -6	-6 -0.1%
33	WALMART INC COM WMT	WMT	9,576	$1.1m0.85%	0.85%	Added +467	+467 5.1%
34	PAYPAL HLDGS INC COM PYPL	PYPL	17,624	$1.0m0.82%	0.82%	Added +84	+84 0.5%
35	TJX COS INC NEW COM TJX	TJX	6,566	$1.0m0.81%	0.81%	Added +226	+226 3.6%
36	GE AEROSPACE COM NEW GE	GE	3,268	$1.0m0.80%	0.80%	Added +99	+99 3.1%
37	STRYKER CORPORATION COM SYK	SYK	2,804	$985.5k0.79%	0.79%	Added +83	+83 3.0%
38	MASTERCARD INCORPORATED CL A MA	MA	1,721	$982.6k0.78%	0.78%	Added +64	+64 3.9%
39	EXXON MOBIL CORP COM XOM	XOM	8,127	$978.0k0.78%	0.78%	Reduced -72	-72 -0.9%
40	KLA CORP COM NEW KLAC	KLAC	764	$928.3k0.74%	0.74%	Added +36	+36 5.0%
41	UBER TECHNOLOGIES INC COM UBER	UBER	11,095	$906.6k0.72%	0.72%	Reduced -1	-1 -0.0%
42	BANK NEW YORK MELLON CORP COM BNY	BNY	6,901	$801.1k0.64%	0.64%	Added +371	+371 5.7%
43	CONSTELLATION ENERGY CORP COM CEG	CEG	2,200	$777.2k0.62%	0.62%	Added +1.4k	+1,367 164.1%
44	NETFLIX INC COM NFLX	NFLX	7,860	$737.0k0.59%	0.59%	Reduced -50	-50 -0.6%
45	ISHARES TR 3 7 YR TREAS BD IEI	IEI	6,106	$728.8k0.58%	0.58%	Added +682	+682 12.6%
46	PARKER-HANNIFIN CORP COM PH	PH	768	$675.0k0.54%	0.54%	Added +44	+44 6.1%
47	NASDAQ INC COM NDAQ	NDAQ	6,907	$670.9k0.54%	0.54%	Added +409	+409 6.3%
48	TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADS TSM	TSM	2,045	$621.5k0.50%	0.50%	Reduced -6	-6 -0.3%
49	CINTAS CORP COM CTAS	CTAS	3,257	$612.5k0.49%	0.49%	Added +194	+194 6.3%
50	VANGUARD BD INDEX FDS SHORT TRM BOND BSV	BSV	7,586	$597.9k0.48%	0.48%	Unchanged
51	ISHARES TR MSCI EAFE ETF EFA	EFA	6,203	$595.7k0.48%	0.48%	Added +159	+159 2.6%
52	INTERNATIONAL BUSINESS MACHS COM IBM	IBM	1,996	$591.2k0.47%	0.47%	Unchanged
53	THERMO FISHER SCIENTIFIC INC COM TMO	TMO	1,009	$584.7k0.47%	0.47%	New
54	ISHARES TR FLTG RATE NT ETF FLOT	FLOT	11,489	$584.3k0.47%	0.47%	Reduced -46	-46 -0.4%
55	VANGUARD SCOTTSDALE FDS INT-TERM CORP VCIT	VCIT	6,811	$570.4k0.46%	0.46%	Reduced -1	-1 -0.0%
56	MCKESSON CORP COM MCK	MCK	687	$563.5k0.45%	0.45%	Added +38	+38 5.9%
57	BONDBLOXX ETF TRUST BLOOMBERG ONE YR XONE	XONE	11,356	$562.5k0.45%	0.45%	Unchanged
58	HOWMET AEROSPACE INC COM HWM	HWM	2,715	$556.6k0.44%	0.44%	New
59	ECOLAB INC COM ECL	ECL	2,091	$548.9k0.44%	0.44%	Added +158	+158 8.2%
60	BONDBLOXX ETF TRUST BLOOMBERG SIX MN XHLF	XHLF	10,696	$537.5k0.43%	0.43%	Reduced -85	-85 -0.8%
61	JACOBS SOLUTIONS INC COM J	J	3,988	$528.2k0.42%	0.42%	Added +177	+177 4.6%
62	DUKE ENERGY CORP NEW COM NEW DUK	DUK	4,448	$521.4k0.42%	0.42%	Reduced -38	-38 -0.8%
63	INVESCO EXCH TRADED FD TR II PFD ETF PGX	PGX	46,279	$520.2k0.42%	0.42%	Added +1.2k	+1,180 2.6%
64	AMERICAN INTL GROUP INC COM NEW AIG	AIG	5,954	$509.4k0.41%	0.41%	Added +344	+344 6.1%
65	INVESCO EXCHANGE TRADED FD T S&P500 QUALITY SPHQ	SPHQ	6,777	$508.6k0.41%	0.41%	Unchanged
66	ISHARES TR RUSSELL 2000 ETF IWM	IWM	2,038	$501.7k0.40%	0.40%	Unchanged
67	RAYMOND JAMES FINL INC COM RJF	RJF	3,011	$483.5k0.39%	0.39%	Added +207	+207 7.4%
68	AMGEN INC COM AMGN	AMGN	1,334	$436.6k0.35%	0.35%	Unchanged
69	JOHNSON & JOHNSON COM JNJ	JNJ	2,037	$421.6k0.34%	0.34%	Unchanged
70	TEXAS INSTRS INC COM TXN	TXN	2,259	$391.9k0.31%	0.31%	Unchanged
71	SCHWAB STRATEGIC TR US DIVIDEND EQ SCHD	SCHD	14,127	$387.5k0.31%	0.31%	Reduced -223	-223 -1.6%
72	PROCTER AND GAMBLE CO COM PG	PG	2,698	$386.6k0.31%	0.31%	Unchanged
73	MORGAN STANLEY COM NEW MS	MS	2,150	$381.7k0.30%	0.30%	Unchanged
74	NUCOR CORP COM NUE	NUE	2,290	$373.5k0.30%	0.30%	Added +150	+150 7.0%
75	CORNING INC COM GLW	GLW	4,077	$357.0k0.29%	0.29%	Reduced -970	-970 -19.2%
76	CATERPILLAR INC COM CAT	CAT	595	$340.9k0.27%	0.27%	Reduced -175	-175 -22.7%
77	ISHARES TR CORE S&P500 ETF IVV	IVV	485	$332.2k0.27%	0.27%	Reduced -9	-9 -1.8%
78	VERIZON COMMUNICATIONS INC COM VZ	VZ	8,036	$327.3k0.26%	0.26%	Added +800	+800 11.1%
79	MARRIOTT INTL INC NEW CL A MAR	MAR	1,055	$327.3k0.26%	0.26%	Unchanged
80	CISCO SYS INC COM CSCO	CSCO	4,156	$320.1k0.26%	0.26%	Unchanged
81	AMERIPRISE FINL INC COM AMP	AMP	604	$296.2k0.24%	0.24%	Reduced -3	-3 -0.5%
82	NORFOLK SOUTHN CORP COM NSC	NSC	1,000	$288.7k0.23%	0.23%	Unchanged
83	GENERAL DYNAMICS CORP COM GD	GD	851	$286.5k0.23%	0.23%	Unchanged
84	VANGUARD SPECIALIZED FUNDS DIV APP ETF VIG	VIG	1,303	$286.4k0.23%	0.23%	Added +10	+10 0.8%
85	US BANCORP DEL COM NEW USB	USB	5,233	$279.2k0.22%	0.22%	Unchanged
86	DISNEY WALT CO COM DIS	DIS	2,395	$272.5k0.22%	0.22%	Unchanged
87	EMERSON ELEC CO COM EMR	EMR	2,010	$266.8k0.21%	0.21%	Unchanged
88	ABBOTT LABS COM ABT	ABT	2,115	$265.0k0.21%	0.21%	Unchanged
89	DOUBLELINE ETF TRUST MORTGAGE ETF DMBS	DMBS	5,242	$260.3k0.21%	0.21%	New
90	BLACKSTONE INC COM BX	BX	1,669	$257.3k0.21%	0.21%	Reduced -4	-4 -0.2%
91	SOUTHERN CO COM SO	SO	2,905	$253.3k0.20%	0.20%	Unchanged
92	MARVELL TECHNOLOGY INC COM MRVL	MRVL	2,970	$252.4k0.20%	0.20%	Unchanged
93	AMERICAN TOWER CORP NEW COM AMT	AMT	1,435	$251.9k0.20%	0.20%	Added +300	+300 26.4%
94	WASTE MGMT INC DEL COM WM	WM	1,141	$250.7k0.20%	0.20%	Reduced -27	-27 -2.3%
95	BECTON DICKINSON & CO COM BDX	BDX	1,280	$248.4k0.20%	0.20%	Unchanged
96	HOME DEPOT INC COM HD	HD	720	$247.8k0.20%	0.20%	Reduced -1.5k	-1,455 -66.9%
97	INTERNATIONAL PAPER CO COM IP	IP	6,190	$243.8k0.19%	0.19%	Added +1.3k	+1,300 26.6%
98	UNION PAC CORP COM UNP	UNP	1,050	$242.9k0.19%	0.19%	Unchanged
99	T-MOBILE US INC COM TMUS	TMUS	1,162	$235.9k0.19%	0.19%	Unchanged
100	ILLINOIS TOOL WKS INC COM ITW	ITW	944	$232.5k0.19%	0.19%	Unchanged

Sold out since Q3 2025

Security	Ticker	Shares held before	Value then
HCA HEALTHCARE INC HCA	HCA	1,300	$554.1k1.3k shares
INTUIT INTU	INTU	811	$553.6k811 shares
ZOETIS INC ZTS	ZTS	2,660	$389.2k2.7k shares
BADGER METER INC BMI	BMI	1,902	$339.7k1.9k shares
RBB FD INC TBIL	TBIL	4,748	$237.4k4.7k shares
CHIPOTLE MEXICAN GRILL INC CMG	CMG	5,738	$224.9k5.7k shares
KIMCO RLTY CORP KIM	KIM	9,800	$214.1k9.8k shares
PHILLIPS 66 PSX	PSX	1,526	$207.6k1.5k shares
MCDONALDS CORP MCD	MCD	663	$201.5k663 shares