ARGUS INVESTORS' COUNSEL, INC.

NEW YORK, NY · CIK 7195 · 13F filing filed 2026-04-28

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

$112.5m reported value -10.2% vs Q4 2025

102positions

36.6%in top 10

11 new 8 added 64 reduced 14 sold out vs Q4 2025

Holdings, Q1 2026

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	28,474	$5.0m4.42%	4.42%	Reduced -1.9k	-1,946 -6.4%
2	ALPHABET INC CAP STK CL A GOOGL	GOOGL	15,901	$4.6m4.07%	4.07%	Reduced -2.1k	-2,057 -11.4%
3	COSTCO WHSL CORP NEW COM COST	COST	4,343	$4.3m3.85%	3.85%	Reduced -251	-251 -5.5%
4	QUANTA SVCS INC COM PWR	PWR	7,756	$4.3m3.79%	3.79%	Reduced -599	-599 -7.2%
5	APPLE INC COM AAPL	AAPL	16,383	$4.2m3.70%	3.70%	Reduced -1.2k	-1,213 -6.9%
6	JPMORGAN CHASE & CO COM JPM	JPM	13,823	$4.1m3.62%	3.62%	Added +233	+233 1.7%
7	ANALOG DEVICES INC COM ADI	ADI	12,290	$3.9m3.48%	3.48%	Reduced -454	-454 -3.6%
8	ELI LILLY & CO COM LLY	LLY	4,063	$3.7m3.32%	3.32%	Reduced -8	-8 -0.2%
9	APPLIED MATLS INC COM AMAT	AMAT	10,838	$3.7m3.29%	3.29%	Reduced -523	-523 -4.6%
10	META PLATFORMS INC CL A META	META	5,967	$3.4m3.04%	3.04%	Reduced -335	-335 -5.3%
11	TRANE TECHNOLOGIES PLC SHS TT	TT	7,815	$3.3m2.90%	2.90%	Reduced -642	-642 -7.6%
12	SCHWAB CHARLES CORP COM SCHW	SCHW	27,907	$2.6m2.33%	2.33%	Reduced -829	-829 -2.9%
13	AMAZON COM INC COM AMZN	AMZN	12,091	$2.5m2.24%	2.24%	Reduced -483	-483 -3.8%
14	VISA INC COM CL A V	V	8,053	$2.4m2.16%	2.16%	Reduced -246	-246 -3.0%
15	WELLS FARGO CO NEW COM WFC	WFC	30,355	$2.4m2.15%	2.15%	Reduced -1.1k	-1,061 -3.4%
16	UNITED RENTALS INC COM URI	URI	3,291	$2.4m2.13%	2.13%	Reduced -66	-66 -2.0%
17	BLACKROCK INC COM BLK	BLK	2,449	$2.4m2.09%	2.09%	Reduced -65	-65 -2.6%
18	ORACLE CORP COM ORCL	ORCL	14,990	$2.2m1.96%	1.96%	Reduced -999	-999 -6.2%
19	TARGA RES CORP COM TRGP	TRGP	8,375	$2.1m1.87%	1.87%	Reduced -2.0k	-2,032 -19.5%
20	S&P GLOBAL INC COM SPGI	SPGI	4,225	$1.8m1.60%	1.60%	Added +548	+548 14.9%
21	GENERAL DYNAMICS CORP COM GD	GD	5,193	$1.8m1.58%	1.58%	Added +4.3k	+4,342 510.2%
22	ARISTA NETWORKS INC COM SHS ANET	ANET	13,458	$1.7m1.47%	1.47%	Reduced -859	-859 -6.0%
23	BOSTON SCIENTIFIC CORP COM BSX	BSX	25,712	$1.6m1.43%	1.43%	Reduced -1.1k	-1,060 -4.0%
24	NEW YORK TIMES CO CL A NYT	NYT	18,327	$1.5m1.36%	1.36%	New
25	CONSTELLATION ENERGY CORP COM CEG	CEG	5,053	$1.4m1.25%	1.25%	Added +2.9k	+2,853 129.7%
26	MICROSOFT CORP COM MSFT	MSFT	3,778	$1.4m1.24%	1.24%	Reduced -340	-340 -8.3%
27	EXXON MOBIL CORP COM XOM	XOM	7,970	$1.4m1.20%	1.20%	Reduced -157	-157 -1.9%
28	DEXCOM INC COM DXCM	DXCM	18,348	$1.2m1.02%	1.02%	New
29	BROADCOM INC COM AVGO	AVGO	3,677	$1.1m1.01%	1.01%	Reduced -308	-308 -7.7%
30	AMERICAN EXPRESS CO COM AXP	AXP	3,471	$1.0m0.93%	0.93%	Reduced -403	-403 -10.4%
31	PALO ALTO NETWORKS INC COM PANW	PANW	6,416	$1.0m0.91%	0.91%	Reduced -33	-33 -0.5%
32	KLA CORP COM NEW KLAC	KLAC	684	$1.0m0.90%	0.90%	Reduced -80	-80 -10.5%
33	SNOWFLAKE INC CL A SNOW	SNOW	6,610	$996.9k0.89%	0.89%	New
34	WALMART INC COM WMT	WMT	7,801	$969.5k0.86%	0.86%	Reduced -1.8k	-1,775 -18.5%
35	TJX COS INC NEW COM TJX	TJX	5,900	$942.2k0.84%	0.84%	Reduced -666	-666 -10.1%
36	ISHARES TR RUS 1000 GRW ETF IWF	IWF	2,091	$891.6k0.79%	0.79%	Reduced -535	-535 -20.4%
37	GE AEROSPACE COM NEW GE	GE	3,086	$875.7k0.78%	0.78%	Reduced -182	-182 -5.6%
38	DOORDASH INC CL A DASH	DASH	5,348	$803.0k0.71%	0.71%	Reduced -1.0k	-1,016 -16.0%
39	UBER TECHNOLOGIES INC COM UBER	UBER	10,877	$782.4k0.70%	0.70%	Reduced -218	-218 -2.0%
40	MASTERCARD INCORPORATED CL A MA	MA	1,527	$763.1k0.68%	0.68%	Reduced -194	-194 -11.3%
41	JOHNSON & JOHNSON COM JNJ	JNJ	3,017	$737.5k0.66%	0.66%	Added +980	+980 48.1%
42	BANK NEW YORK MELLON CORP COM BNY	BNY	6,151	$729.7k0.65%	0.65%	Reduced -750	-750 -10.9%
43	AMGEN INC COM AMGN	AMGN	1,951	$686.5k0.61%	0.61%	Added +617	+617 46.2%
44	LAM RESEARCH CORP COM NEW LRCX	LRCX	3,127	$668.1k0.59%	0.59%	New
45	ISHARES TR 3 7 YR TREAS BD IEI	IEI	5,246	$622.2k0.55%	0.55%	Reduced -860	-860 -14.1%
46	PARKER-HANNIFIN CORP COM PH	PH	691	$618.6k0.55%	0.55%	Reduced -77	-77 -10.0%
47	DUKE ENERGY CORP NEW COM NEW DUK	DUK	4,448	$582.4k0.52%	0.52%	Unchanged
48	HOWMET AEROSPACE INC COM HWM	HWM	2,454	$565.5k0.50%	0.50%	Reduced -261	-261 -9.6%
49	MCKESSON CORP COM MCK	MCK	629	$544.3k0.48%	0.48%	Reduced -58	-58 -8.4%
50	NASDAQ INC COM NDAQ	NDAQ	6,251	$530.7k0.47%	0.47%	Reduced -656	-656 -9.5%
51	ATMOS ENERGY CORP COM ATO	ATO	2,759	$509.6k0.45%	0.45%	New
52	NETFLIX INC COM NFLX	NFLX	5,290	$508.6k0.45%	0.45%	Reduced -2.6k	-2,570 -32.7%
53	SOUTHERN CO COM SO	SO	5,212	$503.1k0.45%	0.45%	Added +2.3k	+2,307 79.4%
54	ECOLAB INC COM ECL	ECL	1,885	$501.4k0.45%	0.45%	Reduced -206	-206 -9.8%
55	VANGUARD BD INDEX FDS SHORT TRM BOND BSV	BSV	6,101	$478.4k0.43%	0.43%	Reduced -1.5k	-1,485 -19.6%
56	ISHARES TR FLTG RATE NT ETF FLOT	FLOT	9,214	$469.5k0.42%	0.42%	Reduced -2.3k	-2,275 -19.8%
57	DOUBLELINE ETF TRUST MORTGAGE ETF DMBS	DMBS	9,452	$466.7k0.41%	0.41%	Added +4.2k	+4,210 80.3%
58	BONDBLOXX ETF TRUST BBB RATED 1 5 YE BBBS	BBBS	9,116	$466.2k0.41%	0.41%	New
59	THERMO FISHER SCIENTIFIC INC COM TMO	TMO	931	$457.6k0.41%	0.41%	Reduced -78	-78 -7.7%
60	ISHARES TR MSCI EAFE ETF EFA	EFA	4,607	$447.5k0.40%	0.40%	Reduced -1.6k	-1,596 -25.7%
61	VANGUARD SCOTTSDALE FDS INT-TERM CORP VCIT	VCIT	5,406	$447.3k0.40%	0.40%	Reduced -1.4k	-1,405 -20.6%
62	TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADS TSM	TSM	1,321	$446.4k0.40%	0.40%	Reduced -724	-724 -35.4%
63	STATE STR CORP COM STT	STT	3,451	$436.8k0.39%	0.39%	New
64	INTERNATIONAL BUSINESS MACHS COM IBM	IBM	1,789	$433.6k0.39%	0.39%	Reduced -207	-207 -10.4%
65	BONDBLOXX ETF TRUST BLOOMBERG SIX MN XHLF	XHLF	8,349	$420.2k0.37%	0.37%	Reduced -2.3k	-2,347 -21.9%
66	STRYKER CORPORATION COM SYK	SYK	1,269	$417.0k0.37%	0.37%	Reduced -1.5k	-1,535 -54.7%
67	TEXAS INSTRS INC COM TXN	TXN	2,079	$403.6k0.36%	0.36%	Reduced -180	-180 -8.0%
68	VERIZON COMMUNICATIONS INC COM VZ	VZ	8,036	$403.4k0.36%	0.36%	Unchanged
69	INVESCO EXCH TRADED FD TR II PFD ETF PGX	PGX	36,854	$401.0k0.36%	0.36%	Reduced -9.4k	-9,425 -20.4%
70	DANAHER CORPORATION COM DHR	DHR	2,106	$399.3k0.36%	0.36%	New
71	RAYMOND JAMES FINL INC COM RJF	RJF	2,724	$394.4k0.35%	0.35%	Reduced -287	-287 -9.5%
72	NUCOR CORP COM NUE	NUE	2,290	$387.2k0.34%	0.34%	Unchanged
73	CORNING INC COM GLW	GLW	2,810	$382.1k0.34%	0.34%	Reduced -1.3k	-1,267 -31.1%
74	INVESCO EXCHANGE TRADED FD T S&P500 QUALITY SPHQ	SPHQ	5,030	$378.2k0.34%	0.34%	Reduced -1.7k	-1,747 -25.8%
75	ISHARES TR RUSSELL 2000 ETF IWM	IWM	1,442	$357.6k0.32%	0.32%	Reduced -596	-596 -29.2%
76	MORGAN STANLEY COM NEW MS	MS	2,150	$353.8k0.31%	0.31%	Unchanged
77	MARRIOTT INTL INC NEW CL A MAR	MAR	1,055	$345.1k0.31%	0.31%	Unchanged
78	CATERPILLAR INC COM CAT	CAT	465	$329.4k0.29%	0.29%	Reduced -130	-130 -21.9%
79	CISCO SYS INC COM CSCO	CSCO	4,156	$322.5k0.29%	0.29%	Unchanged
80	ISHARES TR CORE S&P500 ETF IVV	IVV	474	$309.6k0.28%	0.28%	Reduced -11	-11 -2.3%
81	NORFOLK SOUTHN CORP COM NSC	NSC	1,000	$287.0k0.26%	0.26%	Unchanged
82	SCHWAB STRATEGIC TR US DIVIDEND EQ SCHD	SCHD	9,077	$278.5k0.25%	0.25%	Reduced -5.0k	-5,050 -35.8%
83	US BANCORP DEL COM NEW USB	USB	5,233	$272.2k0.24%	0.24%	Unchanged
84	EMERSON ELEC CO COM EMR	EMR	2,010	$263.4k0.23%	0.23%	Unchanged
85	WASTE MGMT INC DEL COM WM	WM	1,141	$262.2k0.23%	0.23%	Unchanged
86	PROCTER AND GAMBLE CO COM PG	PG	1,802	$260.3k0.23%	0.23%	Reduced -896	-896 -33.2%
87	AIR PRODS & CHEMS INC COM APD	APD	895	$260.0k0.23%	0.23%	Unchanged
88	UNION PAC CORP COM UNP	UNP	1,050	$254.8k0.23%	0.23%	Unchanged
89	AMERICAN TOWER CORP NEW COM AMT	AMT	1,435	$247.7k0.22%	0.22%	Unchanged
90	ILLINOIS TOOL WKS INC COM ITW	ITW	944	$245.7k0.22%	0.22%	Unchanged
91	HOME DEPOT INC COM HD	HD	720	$236.8k0.21%	0.21%	Unchanged
92	MARVELL TECHNOLOGY INC COM MRVL	MRVL	2,364	$234.2k0.21%	0.21%	Reduced -606	-606 -20.4%
93	DISNEY WALT CO COM DIS	DIS	2,395	$230.8k0.21%	0.21%	Unchanged
94	ZOETIS INC CL A ZTS	ZTS	1,923	$227.3k0.20%	0.20%	New
95	INTERNATIONAL PAPER CO COM IP	IP	6,190	$221.0k0.20%	0.20%	Unchanged
96	PHILLIPS 66 COM PSX	PSX	1,196	$217.9k0.19%	0.19%	New
97	ABBOTT LABS COM ABT	ABT	2,115	$217.2k0.19%	0.19%	Unchanged
98	AMERIPRISE FINL INC COM AMP	AMP	482	$214.2k0.19%	0.19%	Reduced -122	-122 -20.2%
99	ADOBE INC COM ADBE	ADBE	870	$211.5k0.19%	0.19%	Reduced -2.8k	-2,753 -76.0%
100	SHELL PLC SPON ADS SHEL	SHEL	2,213	$205.8k0.18%	0.18%	Reduced -518	-518 -19.0%

Sold out since Q4 2025

Security	Ticker	Shares held before	Value then
AXON ENTERPRISE INC AXON	AXON	4,410	$2.5m4.4k shares
ROYAL CARIBBEAN GROUP RCL	RCL	5,015	$1.4m5.0k shares
SERVICENOW INC NOW	NOW	8,671	$1.3m8.7k shares
PAYPAL HLDGS INC PYPL	PYPL	17,624	$1.0m17.6k shares
CINTAS CORP CTAS	CTAS	3,257	$612.5k3.3k shares
BONDBLOXX ETF TRUST XONE	XONE	11,356	$562.5k11.4k shares
JACOBS SOLUTIONS INC J	J	3,988	$528.2k4.0k shares
AMERICAN INTL GROUP INC AIG	AIG	5,954	$509.4k6.0k shares
VANGUARD SPECIALIZED FUNDS VIG	VIG	1,303	$286.4k1.3k shares
BLACKSTONE INC BX	BX	1,669	$257.3k1.7k shares
T-MOBILE US INC TMUS	TMUS	1,162	$235.9k1.2k shares
AUTOMATIC DATA PROCESSING IN ADP	ADP	894	$230.0k894 shares
DICKS SPORTING GOODS INC DKS	DKS	1,115	$220.7k1.1k shares
CSX CORP CSX	CSX	5,659	$205.1k5.7k shares