Argus Investors' Counsel, Inc.

In its 13F for Q2 2024 (holdings as of June 30, 2024, filed July 22, 2024), Argus Investors' Counsel, Inc. reported 107 stock positions worth $162.7 million. Its top holding was Nvidia (NVDA) at 4.8% of the portfolio, followed by Eli Lilly (LLY, 4.6%) and Costco Wholesale (COST, 3.7%). Compared with Q1 2024, it opened 11 new positions, sold out of 12, added to 26 and reduced 64. The biggest buy was a new position in Intuitive Surgical (ISRG) and the biggest sale McDonald's (MCD, shares −56%).

Most Recent 13F
Q2 2026
Location
NEW YORK, NY
CIK
0000007195
Portfolio Value
$162.7M (Q2 2024)
SEC Filing
0000007195-24-000005 ↗ filed Jul 22, 2024

Holdings Value

0$50.0M$100.0M$150.0M$200.0M Q1 2024: $162.9M Q1 2024 Q2 2024: $162.7M $162.7M Q2 2024 Q3 2024: $153.3M Q3 2024 Q4 2024: $149.8M Q4 2024 Q1 2025: $131.3M Q1 2025 Q2 2025: $140.9M Q2 2025 Q3 2025: $125.8M Q3 2025 Q4 2025: $125.2M Q4 2025 Q1 2026: $112.5M Q1 2026 Q2 2026: $129.9M Q2 2026

Holdings 107 stocks · $162.7M
NVDA Nvidia Corp. 4.84% 63,747 $7.9M Reduce -13.7%
LLY Eli Lilly & Co. 4.60% 8,273 $7.5M Add +9.1%
COST Costco Wholesale Corp. 3.73% 7,137 $6.1M Reduce -3.0%
AAPL Apple Inc. 3.51% 27,124 $5.7M Reduce -1.1%
GOOGL Alphabet Inc. Class A 2.84% 25,402 $4.6M Reduce -6.7%
JPM JPMorgan Chase & Co. 2.76% 22,239 $4.5M Add +2.7%
MSFT Microsoft Corp. 2.33% 8,469 $3.8M Reduce -5.2%
AMZN Amazon.com Inc. 2.11% 17,746 $3.4M Reduce -3.0%
TT Trane Technologies PLC 2.01% 9,949 $3.3M Add +4.2%
META Meta Platforms Inc. Class A 1.92% 6,198 $3.1M Add +4.5%
ADI Analog Devices Inc. 1.85% 13,198 $3.0M Add +6.1%
V Visa Inc. Class A 1.81% 11,221 $2.9M Reduce -2.2%
ADBE Adobe Inc. 1.80% 5,277 $2.9M Reduce -4.6%
ODFL Old Dominion Freight Line 1.70% 15,651 $2.8M Reduce -0.9%
MCK McKesson Corp. 1.66% 4,623 $2.7M Add +7.6%
BLK BlackRock Finance Inc. 1.66% 3,426 $2.7M Reduce -19.5%
SPGI S&P Global Inc. 1.54% 5,606 $2.5M Add +11.9%
SYK Stryker Corp. 1.50% 7,171 $2.4M Add +1.8%
AVGO Broadcom Inc. 1.39% 1,412 $2.3M Reduce -10.0%
SCHW Schwab (charles) Corp. 1.37% 30,312 $2.2M Add +12.5%
AMAT Applied Materials Inc. 1.34% 9,269 $2.2M Add +12.5%
URI United Rentals Inc. 1.31% 3,307 $2.1M Add +17.3%
AXP American Express Co. 1.26% 8,883 $2.1M Reduce -11.9%
PWR Quanta Services Inc. 1.25% 8,021 $2.0M Add +14.6%
XOM Exxon Mobil Corp. 1.22% 17,267 $2.0M Reduce -7.0%
HD Home Depot Inc. 1.20% 5,680 $2.0M Reduce -8.2%
ISRG Intuitive Surgical Inc. 1.14% 4,182 $1.9M New
ORCL Oracle Corp. 1.11% 12,769 $1.8M New
NFLX Netflix Inc. 1.10% 2,655 $1.8M Reduce -12.0%
TMO Thermo Fisher Scientific Inc. 1.04% 3,064 $1.7M Add +2.0%
REGN Regeneron Pharmaceuticals 1.00% 1,551 $1.6M Add +5.9%
WMT Walmart Inc. 0.99% 23,785 $1.6M Reduce -8.9%
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.97% 14,340 $1.6M Reduce -12.2%
BSX Boston Scientific Corp. 0.95% 20,174 $1.6M New
AMGN Amgen Inc. 0.91% 4,747 $1.5M Reduce -15.8%
NEE Nextera Energy Inc. 0.88% 20,286 $1.4M Reduce -13.3%
MAR Marriott International Class A 0.87% 5,861 $1.4M Reduce -11.0%
WFC Wells Fargo & Co. 0.85% 23,407 $1.4M Add +0.5%
TXN Texas Instruments Inc. 0.82% 6,879 $1.3M Reduce -13.8%
EMR Emerson Electric Co. 0.82% 12,111 $1.3M Reduce -12.9%
AXON Axon Enterprise Inc. 0.81% 4,492 $1.3M New
APD Air Products & Chemicals Inc. 0.81% 5,110 $1.3M Reduce -13.2%
VZ Verizon Communications Inc. 0.81% 31,792 $1.3M Reduce -13.0%
JNJ Johnson & Johnson 0.80% 8,895 $1.3M Reduce -10.7%
GD General Dynamics Corp. 0.79% 4,451 $1.3M Reduce -13.6%
PG The Procter & Gamble Co. 0.79% 7,773 $1.3M Reduce -15.9%
MS Morgan Stanley 0.79% 13,180 $1.3M Reduce -13.7%
IP International Paper Co. 0.78% 29,490 $1.3M Reduce -14.0%
PEP Pepsico Inc. 0.77% 7,609 $1.3M Reduce -11.9%
CAT Caterpillar Inc. 0.77% 3,745 $1.2M Reduce -14.0%
UNP Union Pacific Corp. 0.77% 5,507 $1.2M Reduce -11.3%
CVX Chevron Corp. 0.76% 7,919 $1.2M Reduce -1.5%
CRM Salesforce Inc. 0.76% 4,800 $1.2M Add +27.1%
ADP Automatic Data Processing 0.73% 4,995 $1.2M Reduce -37.6%
NUE Nucor Corp. 0.73% 7,521 $1.2M Reduce -13.8%
GLW Corning Inc. 0.72% 30,035 $1.2M Reduce -14.3%
ZTS Zoetis Inc. 0.71% 6,653 $1.2M Reduce -19.8%
AMT American Tower Corp. 0.71% 5,930 $1.2M Reduce -18.0%
MCHP Microchip Technology Inc. 0.71% 12,585 $1.2M Add +1.9%
ITW Illinois Tool Works 0.70% 4,782 $1.1M Reduce -13.5%
MCD McDonald's Corp. 0.68% 4,368 $1.1M Reduce -56.0%
IWF iShares Russell 1000 Growth 0.68% 3,047 $1.1M Reduce -1.5%
USB US Bancorp 0.68% 27,708 $1.1M Reduce -13.7%
PFE Pfizer Inc. 0.67% 39,240 $1.1M Reduce -17.3%
ABT Abbott Laboratories 0.64% 10,001 $1.0M Reduce -10.6%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.64% 10,445 $1.0M Reduce -13.4%
CSCO Cisco Systems Inc. 0.63% 21,745 $1.0M Reduce -17.4%
MA Mastercard Inc. Class A 0.60% 2,206 $973K Add +5.3%
XONE Bondbloxx BBG 1 Dur US Treas 0.58% 19,219 $952K No change
BDX Becton Dickinson and Co. 0.58% 4,060 $949K Reduce -12.9%
UNH Unitedhealth Group Inc. 0.49% 1,552 $790K Reduce -12.3%
INTC Intel Corp. 0.46% 24,010 $744K Reduce -14.3%
KLAC KLA Corp. 0.45% 884 $729K Reduce -8.8%
CTAS Cintas Corp. 0.41% 956 $669K Reduce -3.8%
INTU Intuit Inc. 0.41% 1,005 $660K Reduce -5.0%
COP Conocophillips 0.38% 5,418 $620K Add +9.7%
XHLF Bondbloxx BBG 6 MTH US Treas 0.38% 12,239 $615K Add +38.3%
J Jacobs Solutions Inc. 0.36% 4,150 $580K New
BSV Vanguard Short-Term Bond ETF 0.35% 7,443 $571K No change
VCIT Vanguard Int-Term Corporate 0.33% 6,701 $536K No change
AIG American International Group 0.33% 7,135 $530K New
HCA HCA Healthcare Inc. 0.32% 1,628 $523K Reduce -4.8%
NDAQ Nasdaq Inc. 0.31% 8,377 $505K Reduce -6.1%
PGX Invesco Preferred ETF 0.29% 41,526 $480K Add +3.1%
FLOT iShares Floating Rate Bond E 0.29% 9,209 $470K No change
DHI D.R. Horton Inc. 0.28% 3,239 $456K New
PH Parker Hannifin Corp. 0.28% 897 $454K Reduce -6.2%
CMG Chipotle Mexican Grill Inc. 0.28% 7,200 $451K Add +29.7%
BMI Badger Meter Inc. 0.28% 2,401 $447K Add +4.8%
FAST Fastenal Co. 0.27% 7,101 $446K Reduce -6.4%
DUK Duke Energy Corp. 0.27% 4,338 $435K No change
RJF Raymond James Financial Inc. 0.27% 3,509 $434K Reduce -4.7%
ROP Roper Technologies Inc. 0.27% 765 $431K Reduce -4.3%
NVO Novo-Nordisk A/S-Spons ADR 0.26% 2,990 $427K Add +88.6%
WM Waste Management Inc. 0.25% 1,898 $405K New
IVV iShares Core S&P 500 ETF 0.25% 738 $404K Reduce -26.1%
ANET Arista Networks Inc. 0.22% 1,032 $362K Add +0.2%
MRK Merck & Co. Inc. 0.22% 2,883 $357K Add +57.3%
IWM iShares Russell 2000 ETF 0.21% 1,720 $349K Reduce -0.3%
TSM Taiwan Semiconductor-SP ADR 0.21% 1,981 $344K Reduce -0.8%
SCHD Schwab US DVD Equity ETF 0.21% 4,413 $343K Reduce -1.8%
EFA iShares MSCI Eafe ETF 0.17% 3,507 $275K Reduce -0.4%
AMP Ameriprise Financial Inc. 0.14% 533 $228K Reduce -0.2%
BX Blackstone Inc. 0.14% 1,779 $220K New
NSC Norfolk Southern Corp. 0.13% 1,000 $215K No change
SO The Southern Co. 0.13% 2,747 $213K New
LMT Lockheed Martin Corp. 0.12% 429 $201K New

Portfolio Sells Q1 2024 → Q2 2024
MCD McDonald's Corp. Reduce -56.0% 0.68% −1.03
ADSK Autodesk Inc. Sold out 0.00% −0.99
NOC Northrop Grumman Corp. Sold out 0.00% −0.80
VEA Vanguard Ftse Developed ETF Sold out 0.00% −0.57
BLK BlackRock Finance Inc. Reduce -19.5% 1.66% −0.52
ADP Automatic Data Processing Reduce -37.6% 0.73% −0.49
AJG Arthur J Gallagher & Co. Sold out 0.00% −0.47
ODFL Old Dominion Freight Line Reduce -0.9% 1.70% −0.43
NUE Nucor Corp. Reduce -13.8% 0.73% −0.33
INTC Intel Corp. Reduce -14.3% 0.46% −0.30
DIS The Walt Disney Co. Reduce -13.4% 0.64% −0.27
HD Home Depot Inc. Reduce -8.2% 1.20% −0.26
DRI Darden Restaurants Inc. Sold out 0.00% −0.24
ITW Illinois Tool Works Reduce -13.5% 0.70% −0.21
CAT Caterpillar Inc. Reduce -14.0% 0.77% −0.21
VB Vanguard Most SM-Cap ETF-Usd Sold out 0.00% −0.21
USB US Bancorp Reduce -13.7% 0.68% −0.20
IEMG iShares Core MSCI Emerging Sold out 0.00% −0.18
IJK iShares S&P Mid-Cap 400 Grow Sold out 0.00% −0.18
BIL SS SPDR BB 1-3M T-Bill ETF Sold out 0.00% −0.18
CSCO Cisco Systems Inc. Reduce -17.4% 0.63% −0.17
UNP Union Pacific Corp. Reduce -11.3% 0.77% −0.17
AMT American Tower Corp. Reduce -18.0% 0.71% −0.17
JNJ Johnson & Johnson Reduce -10.7% 0.80% −0.17
PEP Pepsico Inc. Reduce -11.9% 0.77% −0.16
V Visa Inc. Class A Reduce -2.2% 1.81% −0.16
ZTS Zoetis Inc. Reduce -19.8% 0.71% −0.15
ABBV Abbvie Inc. Sold out 0.00% −0.15
MAR Marriott International Class A Reduce -11.0% 0.87% −0.15
EMR Emerson Electric Co. Reduce -12.9% 0.82% −0.15
AXP American Express Co. Reduce -11.9% 1.26% −0.15
ABT Abbott Laboratories Reduce -10.6% 0.64% −0.14
VZ Verizon Communications Inc. Reduce -13.0% 0.81% −0.14
PFE Pfizer Inc. Reduce -17.3% 0.67% −0.13
PG The Procter & Gamble Co. Reduce -15.9% 0.79% −0.13
IBM Intl Business Machines Corp. Sold out 0.00% −0.13
KO The Coca-Cola Co. Sold out 0.00% −0.13
BDX Becton Dickinson and Co. Reduce -12.9% 0.58% −0.12
XOM Exxon Mobil Corp. Reduce -7.0% 1.22% −0.10
GD General Dynamics Corp. Reduce -13.6% 0.79% −0.10
MS Morgan Stanley Reduce -13.7% 0.79% −0.10
FAST Fastenal Co. Reduce -6.4% 0.27% −0.09
IVV iShares Core S&P 500 ETF Reduce -26.1% 0.25% −0.07
AMGN Amgen Inc. Reduce -15.8% 0.91% −0.07
APD Air Products & Chemicals Inc. Reduce -13.2% 0.81% −0.06
UNH Unitedhealth Group Inc. Reduce -12.3% 0.49% −0.05
PH Parker Hannifin Corp. Reduce -6.2% 0.28% −0.05
TJX TJX Companies Inc. Reduce -12.2% 0.97% −0.05
IP International Paper Co. Reduce -14.0% 0.78% −0.04
NDAQ Nasdaq Inc. Reduce -6.1% 0.31% −0.04

Portfolio Buys Q1 2024 → Q2 2024
ISRG Intuitive Surgical Inc. New 1.14% +1.14
ORCL Oracle Corp. New 1.11% +1.11
LLY Eli Lilly & Co. Add +9.1% 4.60% +0.98
BSX Boston Scientific Corp. New 0.95% +0.95
AXON Axon Enterprise Inc. New 0.81% +0.81
J Jacobs Solutions Inc. New 0.36% +0.36
ADI Analog Devices Inc. Add +6.1% 1.85% +0.34
AIG American International Group New 0.33% +0.33
AMAT Applied Materials Inc. Add +12.5% 1.34% +0.30
DHI D.R. Horton Inc. New 0.28% +0.28
TT Trane Technologies PLC Add +4.2% 2.01% +0.25
WM Waste Management Inc. New 0.25% +0.25
MCK McKesson Corp. Add +7.6% 1.66% +0.24
SPGI S&P Global Inc. Add +11.9% 1.54% +0.23
SCHW Schwab (charles) Corp. Add +12.5% 1.37% +0.18
META Meta Platforms Inc. Class A Add +4.5% 1.92% +0.15
NVO Novo-Nordisk A/S-Spons ADR Add +88.6% 0.26% +0.14
PWR Quanta Services Inc. Add +14.6% 1.25% +0.14
REGN Regeneron Pharmaceuticals Add +5.9% 1.00% +0.14
BX Blackstone Inc. New 0.14% +0.14
SO The Southern Co. New 0.13% +0.13
LMT Lockheed Martin Corp. New 0.12% +0.12
XHLF Bondbloxx BBG 6 MTH US Treas Add +38.3% 0.38% +0.10
JPM JPMorgan Chase & Co. Add +2.7% 2.76% +0.10
CMG Chipotle Mexican Grill Inc. Add +29.7% 0.28% +0.08
MRK Merck & Co. Inc. Add +57.3% 0.22% +0.07
URI United Rentals Inc. Add +17.3% 1.31% +0.07
CRM Salesforce Inc. Add +27.1% 0.76% +0.06
BMI Badger Meter Inc. Add +4.8% 0.28% +0.05
ANET Arista Networks Inc. Add +0.2% 0.22% +0.04
MCHP Microchip Technology Inc. Add +1.9% 0.71% +0.03
WFC Wells Fargo & Co. Add +0.5% 0.85% +0.03
PGX Invesco Preferred ETF Add +3.1% 0.29% +0.00
COP Conocophillips Add +9.7% 0.38% −0.01
MA Mastercard Inc. Class A Add +5.3% 0.60% −0.02
TMO Thermo Fisher Scientific Inc. Add +2.0% 1.04% −0.03
SYK Stryker Corp. Add +1.8% 1.50% −0.05

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 106$129.9MAMAT, NVDA, GOOGL, PWR, LLY
Q1 2026 102$112.5MNVDA, GOOGL, COST, PWR, AAPL
Q4 2025 105$125.2MNVDA, GOOGL, AAPL, JPM, LLY
Q3 2025 110$125.8MNVDA, META, ORCL, AAPL, JPM
Q2 2025 111$140.9MCOST, NVDA, META, JPM, AAPL
Q1 2025 114$131.3MCOST, AAPL, JPM, LLY, META
Q4 2024 117$149.8MAAPL, COST, NVDA, JPM, LLY
Q3 2024 111$153.3MAAPL, COST, NVDA, LLY, JPM
Q2 2024Amended 107$162.7MNVDA, LLY, COST, AAPL, GOOGL
Q1 2024 108$162.9MNVDA, LLY, COST, AAPL, JPM