Argus Investors' Counsel, Inc.

Name: ARGUS INVESTORS' COUNSEL, INC. 13F holdings, Q1 2025
Creator: ARGUS INVESTORS' COUNSEL, INC.
Published: 2025-04-16

Q2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q4 2024Q3 2024Q2 2024Q1 2024

In its 13F for Q1 2025 (holdings as of March 31, 2025, filed April 16, 2025), Argus Investors' Counsel, Inc. reported 114 stock positions worth $131.3 million. Its top holding was Costco Wholesale (COST) at 4.2% of the portfolio, followed by Apple (AAPL, 3.8%) and JPMorgan Chase (JPM, 3.3%). Compared with Q4 2024, it opened 3 new positions, sold out of 6, added to 28 and reduced 81. The biggest buy was Targa Resources (TRGP, shares +155%) and the biggest sale Old Dominion Freight Line (ODFL, shares −73%).

Most Recent 13F: Q2 2026
Location: NEW YORK, NY
CIK: 0000007195
Portfolio Value: $131.3M (Q1 2025)
SEC Filing: 0000007195-25-000002 ↗ filed Apr 16, 2025

Holdings Value

Holdings 114 stocks · $131.3M


COST Costco Wholesale Corp.	4.21%	5,844	$5.5M	Reduce -2.7%
AAPL Apple Inc.	3.76%	22,195	$4.9M	Reduce -6.3%
JPM JPMorgan Chase & Co.	3.29%	17,625	$4.3M	Reduce -5.6%
LLY Eli Lilly & Co.	3.04%	4,824	$4.0M	Reduce -8.1%
META Meta Platforms Inc. Class A	2.81%	6,399	$3.7M	Reduce -0.4%
V Visa Inc. Class A	2.58%	9,677	$3.4M	Reduce -7.2%
NVDA Nvidia Corp.	2.56%	30,989	$3.4M	Reduce -15.6%
TT Trane Technologies PLC	2.43%	9,472	$3.2M	Reduce -1.1%
AMZN Amazon.com Inc.	2.42%	16,705	$3.2M	Reduce -7.8%
GOOGL Alphabet Inc. Class A	2.31%	19,599	$3.0M	Reduce -6.7%
BLK BlackRock Inc.	2.10%	2,916	$2.8M	Reduce -5.8%
SPGI S&P Global Inc.	2.07%	5,356	$2.7M	Add +0.1%
TRGP Targa Resources Corp.	2.04%	13,324	$2.7M	Add +155.4%
BSX Boston Scientific Corp.	2.03%	26,448	$2.7M	Add +0.4%
ADI Analog Devices Inc.	1.94%	12,644	$2.5M	Reduce -0.3%
MSFT Microsoft Corp.	1.75%	6,133	$2.3M	Reduce -9.9%
SCHW Schwab (charles) Corp.	1.75%	29,349	$2.3M	Add +0.3%
UNH Unitedhealth Group Inc.	1.75%	4,382	$2.3M	Add +211.2%
AXON Axon Enterprise Inc.	1.73%	4,326	$2.3M	Reduce -3.5%
ORCL Oracle Corp.	1.73%	16,208	$2.3M	Add +10.8%
WFC Wells Fargo & Co.	1.69%	30,870	$2.2M	Add +0.1%
PWR Quanta Services Inc.	1.60%	8,240	$2.1M	Add +0.7%
URI United Rentals Inc.	1.57%	3,298	$2.1M	Add +1.4%
ISRG Intuitive Surgical Inc.	1.56%	4,147	$2.1M	Add +0.8%
ADBE Adobe Inc.	1.27%	4,350	$1.7M	Reduce -8.1%
SYK Stryker Corp.	1.25%	4,390	$1.6M	Reduce -16.7%
AXP American Express Co.	1.15%	5,604	$1.5M	Reduce -16.6%
TMO Thermo Fisher Scientific Inc.	1.14%	3,006	$1.5M	Add +0.4%
XOM Exxon Mobil Corp.	1.11%	12,266	$1.5M	Reduce -13.6%
NOW ServiceNow Inc.	1.05%	1,724	$1.4M	Add +807.4%
HD Home Depot Inc.	1.03%	3,706	$1.4M	Reduce -16.8%
AVGO Broadcom Inc.	1.02%	7,960	$1.3M	Reduce -18.6%
AMAT Applied Materials Inc.	1.00%	9,089	$1.3M	Add +0.6%
CRM Salesforce Inc.	0.98%	4,783	$1.3M	Add +1.5%
RCL Royal Caribbean Cruises Ltd.	0.91%	5,826	$1.2M	Add +331.6%
NFLX Netflix Inc.	0.89%	1,249	$1.2M	Reduce -21.1%
MA Mastercard Inc. Class A	0.87%	2,078	$1.1M	Reduce -1.4%
PYPL PayPal Holdings Inc.	0.84%	16,978	$1.1M	New
IWF iShares Russell 1000 Growth	0.79%	2,860	$1.0M	Reduce -8.5%
WMT Walmart Inc.	0.74%	11,064	$971K	Reduce -21.3%
PG The Procter & Gamble Co.	0.68%	5,238	$893K	Reduce -23.3%
ABT Abbott Laboratories	0.66%	6,541	$868K	Reduce -17.8%
AMGN Amgen Inc.	0.66%	2,769	$863K	Reduce -24.6%
JNJ Johnson & Johnson	0.64%	5,032	$835K	Reduce -25.4%
ADP Automatic Data Processing	0.63%	2,727	$833K	Reduce -24.8%
VZ Verizon Communications Inc.	0.61%	17,642	$800K	Reduce -26.3%
ZTS Zoetis Inc.	0.59%	4,719	$777K	Reduce -2.5%
UNP Union Pacific Corp.	0.56%	3,093	$731K	Reduce -27.3%
GLW Corning Inc.	0.54%	15,435	$707K	Reduce -26.3%
TJX TJX Companies Inc. filed as TJX COS INC NEW	0.52%	5,615	$684K	Reduce -29.1%
NUE Nucor Corp.	0.52%	5,636	$678K	Add +6.2%
MCD McDonald's Corp.	0.52%	2,168	$677K	Reduce -29.3%
CTAS Cintas Corp.	0.51%	3,283	$675K	Reduce -2.8%
AMT American Tower Corp.	0.51%	3,075	$669K	Reduce -31.3%
ODFL Old Dominion Freight Line	0.50%	3,984	$659K	Reduce -73.3%
XHLF Bondbloxx BBG 6 MTH US Treas	0.48%	12,641	$637K	Add +5.0%
USB US Bancorp	0.48%	14,933	$630K	Reduce -28.3%
IP International Paper Co.	0.48%	11,790	$629K	Reduce -28.9%
IEI iShares 3-7 Year Treasury Bo	0.47%	5,267	$622K	No change
APD Air Products & Chemicals Inc.	0.47%	2,100	$619K	Reduce -27.6%
CSCO Cisco Systems Inc.	0.47%	9,985	$616K	Reduce -31.5%
GD General Dynamics Corp.	0.47%	2,251	$614K	Reduce -30.8%
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP	0.47%	7,310	$613K	Reduce -3.8%
ITW Illinois Tool Works	0.46%	2,447	$607K	Reduce -29.2%
BSV Vanguard Short-Term Bond ETF	0.45%	7,618	$596K	Add +1.9%
MS Morgan Stanley	0.45%	5,100	$595K	Reduce -28.2%
CAT Caterpillar Inc.	0.44%	1,745	$576K	Reduce -31.4%
TXN Texas Instruments Inc.	0.44%	3,184	$572K	Reduce -32.0%
NEE Nextera Energy Inc.	0.43%	8,045	$570K	Reduce -32.6%
DIS The Walt Disney Co. filed as DISNEY WALT CO	0.43%	5,735	$566K	Reduce -31.2%
XONE Bondbloxx BBG 1 Dur US Treas	0.43%	11,356	$565K	Add +4.5%
MAR Marriott International Class A	0.43%	2,355	$561K	Reduce -41.7%
VCIT Vanguard Int-Term Corporate	0.43%	6,854	$560K	Add +1.6%
PEP Pepsico Inc.	0.42%	3,714	$557K	Reduce -29.2%
FLOT iShares Floating Rate Bond E	0.42%	10,775	$550K	Add +0.9%
DUK Duke Energy Corp.	0.42%	4,490	$548K	Add +3.5%
EMR Emerson Electric Co.	0.41%	4,910	$538K	Reduce -30.9%
INTU Intuit Inc.	0.41%	877	$538K	Reduce -2.1%
AIG American International Group	0.41%	6,173	$537K	Reduce -2.3%
NDAQ Nasdaq Inc.	0.41%	7,055	$535K	Reduce -3.3%
KLAC KLA Corp.	0.40%	770	$523K	Reduce -2.3%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS	0.38%	2,004	$498K	Reduce -0.6%
J Jacobs Solutions Inc.	0.38%	4,082	$493K	Reduce -3.2%
HCA HCA Healthcare Inc.	0.37%	1,413	$488K	Reduce -2.6%
PGX Invesco Preferred ETF	0.37%	43,169	$484K	Add +2.6%
BDX Becton Dickinson and Co.	0.37%	2,110	$483K	Reduce -36.3%
WM Waste Management Inc.	0.37%	2,078	$481K	Add +1.7%
PH Parker Hannifin Corp.	0.36%	783	$476K	Reduce -2.3%
EFA iShares MSCI Eafe ETF	0.35%	5,561	$455K	Reduce -1.9%
SPHQ Invesco S&P 500 Quality ETF	0.34%	6,777	$450K	Add +4.8%
RJF Raymond James Financial Inc.	0.32%	3,019	$419K	Reduce -2.9%
DELL Dell Technologies -C	0.32%	4,572	$417K	Reduce -2.7%
IWM iShares Russell 2000 ETF	0.31%	2,045	$408K	Reduce -0.2%
SCHD Schwab US DVD Equity ETF	0.31%	14,375	$402K	Reduce -11.7%
CMG Chipotle Mexican Grill Inc.	0.30%	7,843	$394K	Reduce -1.4%
ROP Roper Technologies Inc.	0.30%	667	$393K	Reduce -1.9%
BMI Badger Meter Inc.	0.30%	2,062	$392K	Reduce -2.2%
ANET Arista Networks Inc.	0.29%	4,897	$379K	Add +43.0%
TSM Taiwan Semiconductor-SP ADR	0.29%	2,278	$378K	Reduce -2.8%
DHI D.R. Horton Inc.	0.27%	2,789	$355K	Reduce -2.7%

Show all 114 holdings

Portfolio Sells Q4 2024 → Q1 2025


ODFL Old Dominion Freight Line	Reduce -73.3%	0.50%	−1.25
MCK McKesson Corp.	Reduce -86.9%	0.21%	−0.97
MCHP Microchip Technology Inc.	Sold out	0.00%	−0.93
REGN Regeneron Pharmaceuticals	Sold out	0.00%	−0.87
CVX Chevron Corp.	Sold out	0.00%	−0.75
NVDA Nvidia Corp.	Reduce -15.6%	2.56%	−0.73
AVGO Broadcom Inc.	Reduce -18.6%	1.02%	−0.50
GOOGL Alphabet Inc. Class A	Reduce -6.7%	2.31%	−0.35
MAR Marriott International Class A	Reduce -41.7%	0.43%	−0.32
AMZN Amazon.com Inc.	Reduce -7.8%	2.42%	−0.23
MRK Merck & Co. Inc.	Sold out	0.00%	−0.21
NVO Novo-Nordisk A/S-Spons ADR	Sold out	0.00%	−0.21
AAPL Apple Inc.	Reduce -6.3%	3.76%	−0.20
DIS The Walt Disney Co.	Reduce -31.2%	0.43%	−0.19
USB US Bancorp	Reduce -28.3%	0.48%	−0.18
AXP American Express Co.	Reduce -16.6%	1.15%	−0.18
EMR Emerson Electric Co.	Reduce -30.9%	0.41%	−0.18
CAT Caterpillar Inc.	Reduce -31.4%	0.44%	−0.18
MSFT Microsoft Corp.	Reduce -9.9%	1.75%	−0.16
LULU Lululemon Athletica Inc.	Sold out	0.00%	−0.15
TXN Texas Instruments Inc.	Reduce -32.0%	0.44%	−0.15
MS Morgan Stanley	Reduce -28.2%	0.45%	−0.14
NEE Nextera Energy Inc.	Reduce -32.6%	0.43%	−0.14
ADBE Adobe Inc.	Reduce -8.1%	1.27%	−0.13
BDX Becton Dickinson and Co.	Reduce -36.3%	0.37%	−0.13
GLW Corning Inc.	Reduce -26.3%	0.54%	−0.13
ITW Illinois Tool Works	Reduce -29.2%	0.46%	−0.12
HD Home Depot Inc.	Reduce -16.8%	1.03%	−0.12
TJX TJX Companies Inc.	Reduce -29.1%	0.52%	−0.12
IP International Paper Co.	Reduce -28.9%	0.48%	−0.12
WMT Walmart Inc.	Reduce -21.3%	0.74%	−0.11
PEP Pepsico Inc.	Reduce -29.2%	0.42%	−0.11
CSCO Cisco Systems Inc.	Reduce -31.5%	0.47%	−0.11
GD General Dynamics Corp.	Reduce -30.8%	0.47%	−0.10
UNP Union Pacific Corp.	Reduce -27.3%	0.56%	−0.09
APD Air Products & Chemicals Inc.	Reduce -27.6%	0.47%	−0.09
PG The Procter & Gamble Co.	Reduce -23.3%	0.68%	−0.08
MCD McDonald's Corp.	Reduce -29.3%	0.52%	−0.08
ADP Automatic Data Processing	Reduce -24.8%	0.63%	−0.07
NFLX Netflix Inc.	Reduce -21.1%	0.89%	−0.06
IWF iShares Russell 1000 Growth	Reduce -8.5%	0.79%	−0.05
AXON Axon Enterprise Inc.	Reduce -3.5%	1.73%	−0.05
DELL Dell Technologies -C	Reduce -2.7%	0.32%	−0.04
AMT American Tower Corp.	Reduce -31.3%	0.51%	−0.04
VZ Verizon Communications Inc.	Reduce -26.3%	0.61%	−0.03
SYK Stryker Corp.	Reduce -16.7%	1.25%	−0.02
TSM Taiwan Semiconductor-SP ADR	Reduce -2.8%	0.29%	−0.02
CMG Chipotle Mexican Grill Inc.	Reduce -1.4%	0.30%	−0.02
BX Blackstone Inc.	Reduce -1.0%	0.21%	−0.02
BLK BlackRock Inc.	Reduce -5.8%	2.10%	−0.02

Portfolio Buys Q4 2024 → Q1 2025


TRGP Targa Resources Corp.	Add +155.4%	2.04%	+1.41
UNH Unitedhealth Group Inc.	Add +211.2%	1.75%	+1.27
NOW ServiceNow Inc.	Add +807.4%	1.05%	+0.91
PYPL PayPal Holdings Inc.	New	0.84%	+0.84
RCL Royal Caribbean Cruises Ltd.	Add +331.6%	0.91%	+0.70
BSX Boston Scientific Corp.	Add +0.4%	2.03%	+0.46
SCHW Schwab (charles) Corp.	Add +0.3%	1.75%	+0.30
SPGI S&P Global Inc.	Add +0.1%	2.07%	+0.29
WFC Wells Fargo & Co.	Add +0.1%	1.69%	+0.24
VIG Vanguard Dividend Apprec ETF	New	0.19%	+0.19
SHEL Shell PLC-ADR	New	0.15%	+0.15
ISRG Intuitive Surgical Inc.	Add +0.8%	1.56%	+0.13
DUK Duke Energy Corp.	Add +3.5%	0.42%	+0.11
NUE Nucor Corp.	Add +6.2%	0.52%	+0.10
TMO Thermo Fisher Scientific Inc.	Add +0.4%	1.14%	+0.10
ORCL Oracle Corp.	Add +10.8%	1.73%	+0.10
WM Waste Management Inc.	Add +1.7%	0.37%	+0.09
XHLF Bondbloxx BBG 6 MTH US Treas	Add +5.0%	0.48%	+0.08
XONE Bondbloxx BBG 1 Dur US Treas	Add +4.5%	0.43%	+0.07
BSV Vanguard Short-Term Bond ETF	Add +1.9%	0.45%	+0.07
VCIT Vanguard Int-Term Corporate	Add +1.6%	0.43%	+0.07
FLOT iShares Floating Rate Bond E	Add +0.9%	0.42%	+0.06
SPHQ Invesco S&P 500 Quality ETF	Add +4.8%	0.34%	+0.05
TBIL F/M US Treasury 3 Month Bill	Add +8.8%	0.26%	+0.05
PGX Invesco Preferred ETF	Add +2.6%	0.37%	+0.04
URI United Rentals Inc.	Add +1.4%	1.57%	+0.04
ANET Arista Networks Inc.	Add +43.0%	0.29%	+0.04
AMAT Applied Materials Inc.	Add +0.6%	1.00%	+0.02
LMT Lockheed Martin Corp.	Add +10.2%	0.16%	+0.02
CRM Salesforce Inc.	Add +1.5%	0.98%	−0.07
PWR Quanta Services Inc.	Add +0.7%	1.60%	−0.13

All Filings

Quarter	Positions	13F Reported Value	Top Holdings
Q2 2026	106	$129.9M	AMAT, NVDA, GOOGL, PWR, LLY
Q1 2026	102	$112.5M	NVDA, GOOGL, COST, PWR, AAPL
Q4 2025	105	$125.2M	NVDA, GOOGL, AAPL, JPM, LLY
Q3 2025	110	$125.8M	NVDA, META, ORCL, AAPL, JPM
Q2 2025	111	$140.9M	COST, NVDA, META, JPM, AAPL
Q1 2025	114	$131.3M	COST, AAPL, JPM, LLY, META
Q4 2024	117	$149.8M	AAPL, COST, NVDA, JPM, LLY
Q3 2024	111	$153.3M	AAPL, COST, NVDA, LLY, JPM
Q2 2024Amended	107	$162.7M	NVDA, LLY, COST, AAPL, GOOGL
Q1 2024	108	$162.9M	NVDA, LLY, COST, AAPL, JPM