Argus Investors' Counsel, Inc.

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 22, 2026), Argus Investors' Counsel, Inc. reported 105 stock positions worth $125.2 million. Its top holding was Nvidia (NVDA) at 4.5% of the portfolio, followed by Alphabet Class A (GOOGL, 4.5%) and Apple (AAPL, 3.8%). Compared with Q3 2025, it opened 4 new positions, sold out of 9, added to 44 and reduced 30. The biggest buy was Alphabet Class A (GOOGL, shares +9%) and the biggest sale Oracle (ORCL, shares −0%).

Most Recent 13F
Q2 2026
Location
NEW YORK, NY
CIK
0000007195
Portfolio Value
$125.2M (Q4 2025)
SEC Filing
0000007195-26-000001 ↗ filed Jan 22, 2026

Holdings Value

0$50.0M$100.0M$150.0M$200.0M Q1 2024: $162.9M Q1 2024 Q2 2024: $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 $125.2M Q4 2025 Q1 2026: $112.5M Q1 2026 Q2 2026: $129.9M Q2 2026

Holdings 105 stocks · $125.2M
NVDA Nvidia Corp. 4.53% 30,420 $5.7M Add +8.9%
GOOGL Alphabet Inc. Class A 4.49% 17,958 $5.6M Add +8.9%
AAPL Apple Inc. 3.82% 17,596 $4.8M Add +0.9%
JPM JPMorgan Chase & Co. 3.50% 13,590 $4.4M Add +1.2%
LLY Eli Lilly & Co. 3.49% 4,071 $4.4M Add +1.6%
META Meta Platforms Inc. Class A 3.32% 6,302 $4.2M Reduce -0.3%
COST Costco Wholesale Corp. 3.16% 4,594 $4.0M Add +1.1%
PWR Quanta Services Inc. 2.82% 8,355 $3.5M Add +0.1%
ADI Analog Devices Inc. 2.76% 12,744 $3.5M Add +0.6%
TT Trane Technologies PLC 2.63% 8,457 $3.3M Add +0.1%
ORCL Oracle Corp. 2.49% 15,989 $3.1M Reduce -0.4%
WFC Wells Fargo & Co. 2.34% 31,416 $2.9M Add +0.3%
AMAT Applied Materials Inc. 2.33% 11,361 $2.9M Add +24.3%
V Visa Inc. Class A 2.32% 8,299 $2.9M Reduce -0.1%
AMZN Amazon.com Inc. 2.32% 12,574 $2.9M Reduce -0.4%
SCHW Schwab (charles) Corp. 2.29% 28,736 $2.9M Reduce -0.0%
URI United Rentals Inc. 2.17% 3,357 $2.7M Add +0.1%
BLK BlackRock Inc. 2.15% 2,514 $2.7M Reduce -0.1%
BSX Boston Scientific Corp. 2.04% 26,772 $2.6M Reduce -0.1%
AXON Axon Enterprise Inc. 2.00% 4,410 $2.5M Add +0.3%
MSFT Microsoft Corp. 1.59% 4,118 $2.0M Add +2.5%
SPGI S&P Global Inc. 1.53% 3,677 $1.9M Reduce -24.6%
TRGP Targa Resources Corp. 1.53% 10,407 $1.9M Reduce -23.0%
ANET Arista Networks Inc. 1.50% 14,317 $1.9M Add +0.0%
DASH DoorDash Inc. Class A 1.15% 6,364 $1.4M Reduce -0.1%
AXP American Express Co. 1.14% 3,874 $1.4M Add +2.7%
RCL Royal Caribbean Cruises Ltd. 1.12% 5,015 $1.4M Add +0.6%
AVGO Broadcom Inc. 1.10% 3,985 $1.4M Reduce -3.4%
NOW ServiceNow Inc. 1.06% 8,671 $1.3M Reduce -0.2%
ADBE Adobe Inc. 1.01% 3,623 $1.3M Add +0.6%
IWF iShares Russell 1000 Growth 0.99% 2,626 $1.2M Reduce -4.9%
PANW Palo Alto Networks Inc. 0.95% 6,449 $1.2M Reduce -0.1%
WMT Walmart Inc. 0.85% 9,576 $1.1M Add +5.1%
PYPL PayPal Holdings Inc. 0.82% 17,624 $1.0M Add +0.5%
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.81% 6,566 $1.0M Add +3.6%
GE General Electric filed as GE AEROSPACE 0.80% 3,268 $1.0M Add +3.1%
SYK Stryker Corp. 0.79% 2,804 $986K Add +3.0%
MA Mastercard Inc. Class A 0.78% 1,721 $983K Add +3.9%
XOM Exxon Mobil Corp. 0.78% 8,127 $978K Reduce -0.9%
KLAC KLA Corp. 0.74% 764 $928K Add +5.0%
UBER Uber Technologies Inc. 0.72% 11,095 $907K Reduce -0.0%
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP 0.64% 6,901 $801K Add +5.7%
CEG Constellation Energy 0.62% 2,200 $777K Add +164.1%
NFLX Netflix Inc. 0.59% 7,860 $737K Reduce -0.6%
IEI iShares 3-7 Year Treasury Bo 0.58% 6,106 $729K Add +12.6%
PH Parker Hannifin Corp. 0.54% 768 $675K Add +6.1%
NDAQ Nasdaq Inc. 0.54% 6,907 $671K Add +6.3%
TSM Taiwan Semiconductor-SP ADR 0.50% 2,045 $621K Reduce -0.3%
CTAS Cintas Corp. 0.49% 3,257 $613K Add +6.3%
BSV Vanguard Short-Term Bond ETF 0.48% 7,586 $598K No change
EFA iShares MSCI Eafe ETF 0.48% 6,203 $596K Add +2.6%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.47% 1,996 $591K No change
TMO Thermo Fisher Scientific Inc. 0.47% 1,009 $585K New
FLOT iShares Floating Rate Bond E 0.47% 11,489 $584K Reduce -0.4%
VCIT Vanguard Int-Term Corporate 0.46% 6,811 $570K Reduce -0.0%
MCK McKesson Corp. 0.45% 687 $564K Add +5.9%
XONE Bondbloxx BBG 1 Dur US Treas 0.45% 11,356 $563K No change
HWM Howmet Aerospace Inc. 0.44% 2,715 $557K New
ECL Ecolab Inc. 0.44% 2,091 $549K Add +8.2%
XHLF Bondbloxx BBG 6 MTH US Treas 0.43% 10,696 $537K Reduce -0.8%
J Jacobs Solutions Inc. 0.42% 3,988 $528K Add +4.6%
DUK Duke Energy Corp. 0.42% 4,448 $521K Reduce -0.8%
PGX Invesco Preferred ETF 0.42% 46,279 $520K Add +2.6%
AIG American International Group 0.41% 5,954 $509K Add +6.1%
SPHQ Invesco S&P 500 Quality ETF 0.41% 6,777 $509K No change
IWM iShares Russell 2000 ETF 0.40% 2,038 $502K No change
RJF Raymond James Financial Inc. 0.39% 3,011 $484K Add +7.4%
AMGN Amgen Inc. 0.35% 1,334 $437K No change
JNJ Johnson & Johnson 0.34% 2,037 $422K No change
TXN Texas Instruments Inc. 0.31% 2,259 $392K No change
SCHD Schwab US DVD Equity ETF 0.31% 14,127 $388K Reduce -1.6%
PG The Procter & Gamble Co. 0.31% 2,698 $387K No change
MS Morgan Stanley 0.30% 2,150 $382K No change
NUE Nucor Corp. 0.30% 2,290 $374K Add +7.0%
GLW Corning Inc. 0.29% 4,077 $357K Reduce -19.2%
CAT Caterpillar Inc. 0.27% 595 $341K Reduce -22.7%
IVV iShares Core S&P 500 ETF 0.27% 485 $332K Reduce -1.8%
VZ Verizon Communications Inc. 0.26% 8,036 $327K Add +11.1%
MAR Marriott International Class A 0.26% 1,055 $327K No change
CSCO Cisco Systems Inc. 0.26% 4,156 $320K No change
AMP Ameriprise Financial Inc. 0.24% 604 $296K Reduce -0.5%
NSC Norfolk Southern Corp. 0.23% 1,000 $289K No change
GD General Dynamics Corp. 0.23% 851 $286K No change
VIG Vanguard Dividend Apprec ETF 0.23% 1,303 $286K Add +0.8%
USB US Bancorp 0.22% 5,233 $279K No change
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.22% 2,395 $272K No change
EMR Emerson Electric Co. 0.21% 2,010 $267K No change
ABT Abbott Laboratories 0.21% 2,115 $265K No change
DMBS Doubleline Mortgage ETF 0.21% 5,242 $260K New
BX Blackstone Inc. 0.21% 1,669 $257K Reduce -0.2%
SO The Southern Co. 0.20% 2,905 $253K No change
MRVL Marvell Technology Inc. 0.20% 2,970 $252K No change
AMT American Tower Corp. 0.20% 1,435 $252K Add +26.4%
WM Waste Management Inc. 0.20% 1,141 $251K Reduce -2.3%
BDX Becton Dickinson and Co. 0.20% 1,280 $248K No change
HD Home Depot Inc. 0.20% 720 $248K Reduce -66.9%
IP International Paper Co. 0.19% 6,190 $244K Add +26.6%
UNP Union Pacific Corp. 0.19% 1,050 $243K No change
TMUS T-Mobile US Inc. 0.19% 1,162 $236K No change
ITW Illinois Tool Works 0.19% 944 $233K No change
ADP Automatic Data Processing 0.18% 894 $230K No change
APD Air Products & Chemicals Inc. 0.18% 895 $221K Add +20.1%
DKS Dick's Sporting Goods Inc. 0.18% 1,115 $221K No change
CSX CSX Corp. 0.16% 5,659 $205K No change
SHEL Shell PLC-ADR 0.16% 2,731 $201K New

Portfolio Sells Q3 2025 → Q4 2025
ORCL Oracle Corp. Reduce -0.4% 2.49% −1.10
HD Home Depot Inc. Reduce -66.9% 0.20% −0.50
HCA HCA Healthcare Inc. Sold out 0.00% −0.44
INTU Intuit Inc. Sold out 0.00% −0.44
META Meta Platforms Inc. Class A Reduce -0.3% 3.32% −0.37
SPGI S&P Global Inc. Reduce -24.6% 1.53% −0.35
ZTS Zoetis Inc. Sold out 0.00% −0.31
BMI Badger Meter Inc. Sold out 0.00% −0.27
TRGP Targa Resources Corp. Reduce -23.0% 1.53% −0.27
DASH DoorDash Inc. Class A Reduce -0.1% 1.15% −0.23
NOW ServiceNow Inc. Reduce -0.2% 1.06% −0.21
TBIL F/M US Treasury 3 Month Bill Sold out 0.00% −0.19
BLK BlackRock Inc. Reduce -0.1% 2.15% −0.18
CMG Chipotle Mexican Grill Inc. Sold out 0.00% −0.18
KIM Kimco Realty Corp. Sold out 0.00% −0.17
NFLX Netflix Inc. Reduce -0.6% 0.59% −0.17
PSX Phillips 66 Sold out 0.00% −0.17
MCD McDonald's Corp. Sold out 0.00% −0.16
UBER Uber Technologies Inc. Reduce -0.0% 0.72% −0.14
PANW Palo Alto Networks Inc. Reduce -0.1% 0.95% −0.10
GLW Corning Inc. Reduce -19.2% 0.29% −0.04
BSX Boston Scientific Corp. Reduce -0.1% 2.04% −0.04
IWF iShares Russell 1000 Growth Reduce -4.9% 0.99% −0.04
DUK Duke Energy Corp. Reduce -0.8% 0.42% −0.03
BX Blackstone Inc. Reduce -0.2% 0.21% −0.02
CAT Caterpillar Inc. Reduce -22.7% 0.27% −0.02
WM Waste Management Inc. Reduce -2.3% 0.20% −0.00
XHLF Bondbloxx BBG 6 MTH US Treas Reduce -0.8% 0.43% −0.00
SCHD Schwab US DVD Equity ETF Reduce -1.6% 0.31% −0.00
FLOT iShares Floating Rate Bond E Reduce -0.4% 0.47% −0.00
AMP Ameriprise Financial Inc. Reduce -0.5% 0.24% −0.00
VCIT Vanguard Int-Term Corporate Reduce -0.0% 0.46% +0.00
IVV iShares Core S&P 500 ETF Reduce -1.8% 0.27% +0.00
AVGO Broadcom Inc. Reduce -3.4% 1.10% +0.02
TSM Taiwan Semiconductor-SP ADR Reduce -0.3% 0.50% +0.04
XOM Exxon Mobil Corp. Reduce -0.9% 0.78% +0.05
V Visa Inc. Class A Reduce -0.1% 2.32% +0.07
SCHW Schwab (charles) Corp. Reduce -0.0% 2.29% +0.11
AMZN Amazon.com Inc. Reduce -0.4% 2.32% +0.11

Portfolio Buys Q3 2025 → Q4 2025
GOOGL Alphabet Inc. Class A Add +8.9% 4.49% +1.30
LLY Eli Lilly & Co. Add +1.6% 3.49% +1.06
AMAT Applied Materials Inc. Add +24.3% 2.33% +0.84
TMO Thermo Fisher Scientific Inc. New 0.47% +0.47
HWM Howmet Aerospace Inc. New 0.44% +0.44
CEG Constellation Energy Add +164.1% 0.62% +0.40
NVDA Nvidia Corp. Add +8.9% 4.53% +0.39
AAPL Apple Inc. Add +0.9% 3.82% +0.29
ADI Analog Devices Inc. Add +0.6% 2.76% +0.29
WFC Wells Fargo & Co. Add +0.3% 2.34% +0.25
DMBS Doubleline Mortgage ETF New 0.21% +0.21
SHEL Shell PLC-ADR New 0.16% +0.16
AXP American Express Co. Add +2.7% 1.14% +0.15
JPM JPMorgan Chase & Co. Add +1.2% 3.50% +0.13
KLAC KLA Corp. Add +5.0% 0.74% +0.12
WMT Walmart Inc. Add +5.1% 0.85% +0.11
PH Parker Hannifin Corp. Add +6.1% 0.54% +0.10
NDAQ Nasdaq Inc. Add +6.3% 0.54% +0.08
TJX TJX Companies Inc. Add +3.6% 0.81% +0.08
BNY Bank of New York Mellon Corp. Add +5.7% 0.64% +0.07
NUE Nucor Corp. Add +7.0% 0.30% +0.07
IEI iShares 3-7 Year Treasury Bo Add +12.6% 0.58% +0.07
PWR Quanta Services Inc. Add +0.1% 2.82% +0.07
AIG American International Group Add +6.1% 0.41% +0.06
MCK McKesson Corp. Add +5.9% 0.45% +0.05
GE General Electric Add +3.1% 0.80% +0.05
MA Mastercard Inc. Class A Add +3.9% 0.78% +0.04
AMT American Tower Corp. Add +26.4% 0.20% +0.03
EFA iShares MSCI Eafe ETF Add +2.6% 0.48% +0.03
ECL Ecolab Inc. Add +8.2% 0.44% +0.02
APD Air Products & Chemicals Inc. Add +20.1% 0.18% +0.01
IP International Paper Co. Add +26.6% 0.19% +0.01
VZ Verizon Communications Inc. Add +11.1% 0.26% +0.01
VIG Vanguard Dividend Apprec ETF Add +0.8% 0.23% +0.01
ADBE Adobe Inc. Add +0.6% 1.01% +0.00
RJF Raymond James Financial Inc. Add +7.4% 0.39% +0.00
PGX Invesco Preferred ETF Add +2.6% 0.42% −0.00
CTAS Cintas Corp. Add +6.3% 0.49% −0.01
SYK Stryker Corp. Add +3.0% 0.79% −0.01
J Jacobs Solutions Inc. Add +4.6% 0.42% −0.03
MSFT Microsoft Corp. Add +2.5% 1.59% −0.06
PYPL PayPal Holdings Inc. Add +0.5% 0.82% −0.11
ANET Arista Networks Inc. Add +0.0% 1.50% −0.16
RCL Royal Caribbean Cruises Ltd. Add +0.6% 1.12% −0.16
COST Costco Wholesale Corp. Add +1.1% 3.16% −0.18
TT Trane Technologies PLC Add +0.1% 2.63% −0.20
URI United Rentals Inc. Add +0.1% 2.17% −0.38
AXON Axon Enterprise Inc. Add +0.3% 2.00% −0.51

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