ARGUS INVESTORS' COUNSEL, INC.
Reported holdings as of Q3 2026, from 32 quarterly filings.
Holdings
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| Security | Ticker | Value | Shares | Weight | Weight change | Held | Change |
|---|---|---|---|---|---|---|---|
| NVIDIA CORPORATION | NVDA | $6.3M | 27,795 | +0.65pp | 32q | HELD | |
| APPLIED MATLS INC | AMAT | $5.3M | 10,403 | -1.73pp | 19q | -1.2%-$63.9K | |
| ALPHABET INC | GOOGL | $5.3M | 15,396 | -0.11pp | 32q | HELD | |
| APPLE INC | AAPL | $5.3M | 15,819 | +0.57pp | 32q | HELD | |
| ANALOG DEVICES INC | ADI | $4.7M | 11,909 | +0.02pp | 31q | HELD | |
| QUANTA SVCS INC | PWR | $4.7M | 7,253 | -0.50pp | 15q | -2.6%-$122.1K | |
| ELI LILLY & CO | LLY | $4.6M | 4,011 | -0.07pp | 25q | +0.6%+$27.8K | |
| JPMORGAN CHASE & CO | JPM | $4.5M | 13,461 | +0.07pp | 32q | HELD | |
| META PLATFORMS INC | META | $4.2M | 5,761 | +0.73pp | 14q | -0.9%-$39.2K | |
| COSTCO WHOLESALE CORPORATION | COST | $3.9M | 4,252 | -0.05pp | 32q | HELD | |
| TRANE TECHNOLOGIES PLC | TT | $3.5M | 7,637 | -0.20pp | 12q | HELD | |
| UNITED RENTALS INC | URI | $3.2M | 3,177 | -0.32pp | 15q | -0.6%-$19.0K | |
| AMAZON COM INC | AMZN | $2.9M | 11,795 | +0.12pp | 32q | HELD | |
| VISA INC | V | $2.8M | 7,755 | +0.10pp | 32q | -0.7%-$19.8K | |
| ARISTA NETWORKS INC | ANET | $2.7M | 13,026 | +0.35pp | 8q | -0.6%-$16.7K | |
| ROBINHOOD MKTS INC | HOOD | $2.5M | 22,394 | +1.70pp | 2q | +573.1%+$2.1M | |
| BLACKROCK INC | BLK | $2.5M | 2,374 | +0.18pp | 9q | -0.8%-$19.1K | |
| PALO ALTO NETWORKS INC | PANW | $2.4M | 6,162 | +0.28pp | 5q | HELD | |
| WELLS FARGO & CO | WFC | $2.3M | 29,151 | -0.05pp | 19q | -0.6%-$14.2K | |
| TARGA RES CORP | TRGP | $2.2M | 8,283 | +0.02pp | 9q | -0.6%-$13.5K | |
| SNOWFLAKE INC | SNOW | $2.2M | 6,420 | +0.43pp | 3q | HELD | |
| TAIWAN SEMICONDUCTOR MANUFAC | TSM | $2.1M | 4,571 | +1.13pp | 12q | +241.1%+$1.5M | |
| MICROSOFT CORP | MSFT | $2.0M | 3,831 | +0.45pp | 32q | +1.9%+$35.9K | |
| DELL TECHNOLOGIES INC | DELL | $1.9M | 3,568 | +0.38pp | 2q | +6.8%+$122.1K | |
| GENERAL DYNAMICS CORP | GD | $1.7M | 5,106 | -0.08pp | 32q | HELD | |
| DEXCOM INC | DXCM | $1.5M | 17,846 | +0.27pp | 3q | HELD | |
| S&P GLOBAL INC | SPGI | $1.5M | 3,805 | -0.13pp | 23q | -7.7%-$125.8K | |
| BROADCOM INC | AVGO | $1.3M | 3,751 | -0.04pp | 20q | +2.9%+$37.2K | |
| KLA CORP | KLAC | $1.3M | 6,637 | -0.51pp | 11q | +1.8%+$23.4K | |
| EXXONMOBIL HOLDINGS CORP COM SHS | XOM | $1.3M | 7,873 | +0.17pp | 2q | HELD | |
| NEW YORK TIMES CO MTN BE | NYT | $1.3M | 19,662 | -0.09pp | 3q | HELD | |
| BOOKING HOLDINGS INC | BKNG | $1.1M | 6,692 | - | new | NEW | |
| AMERICAN EXPRESS CO | AXP | $1.0M | 3,413 | -0.10pp | 32q | -1.5%-$16.1K | |
| GE AEROSPACE | GE | $1.0M | 3,216 | -0.10pp | 6q | +4.9%+$46.5K | |
| LAM RESEARCH CORP | LRCX | $1.0M | 3,056 | -0.26pp | 3q | -1.5%-$15.8K | |
| DOORDASH INC | DASH | $945.1K | 5,149 | flat | 5q | -0.8%-$7.2K | |
| UBER TECHNOLOGIES INC | UBER | $941.5K | 13,742 | -0.01pp | 6q | +2.9%+$26.9K | |
| ISHARES TR | IWF | $909.6K | 7,262 | flat | 25q | -1.7%-$16.0K | |
| JOHNSON & JOHNSON | JNJ | $881.1K | 3,328 | +0.07pp | 32q | +6.7%+$55.1K | |
| MASTERCARD INCORPORATED | MA | $880.2K | 1,596 | +0.08pp | 23q | +4.9%+$40.8K | |
| BANK OF NY MELLON CORP | BNY | $873.9K | 6,042 | flat | 8q | -1.1%-$10.1K | |
| TJX COS INC NEW | TJX | $838.2K | 6,335 | -0.09pp | 17q | HELD | |
| AMGEN INC | AMGN | $660.5K | 1,567 | +0.08pp | 32q | HELD | |
| PARKER-HANNIFIN CORP | PH | $643.0K | 673 | -0.01pp | 11q | -1.5%-$9.6K | |
| NASDAQ INC | NDAQ | $636.0K | 6,912 | +0.10pp | 22q | +6.5%+$38.8K | |
| THERMO FISHER SCIENTIFIC INC | TMO | $619.0K | 917 | +0.12pp | 4q | -1.2%-$7.4K | |
| ISHARES TR | IEI | $614.1K | 5,413 | -0.01pp | 9q | +1.4%+$8.5K | |
| INVESCO EXCHANGE TRADED FD T | SPHQ | $596.3K | 7,092 | flat | 8q | +5.4%+$30.8K | |
| STATE STR CORP | STT | $592.0K | 3,391 | +0.01pp | 3q | -1.4%-$8.2K | |
| TEXAS INSTRS INC | TXN | $569.4K | 2,033 | -0.04pp | 32q | -2.4%-$14.0K | |
| GE VERNOVA INC | GEV | $558.9K | 588 | - | new | NEW | |
| HOWMET AEROSPACE INC | HWM | $543.7K | 2,404 | -0.08pp | 4q | -1.3%-$7.2K | |
| MCKESSON CORP | MCK | $531.1K | 622 | +0.05pp | 12q | HELD | |
| MARVELL TECHNOLOGY INC | MRVL | $509.9K | 1,930 | -0.15pp | 5q | -18.5%-$115.7K | |
| CONSTELLATION ENERGY CORP | CEG | $508.5K | 2,002 | -0.61pp | 6q | -61.9%-$824.5K | |
| DUKE ENERGY CORP NEW | DUK | $507.1K | 4,448 | -0.04pp | 15q | HELD | |
| ISHARES TR | EFA | $489.6K | 4,713 | +0.01pp | 16q | +1.5%+$7.1K | |
| ISHARES TR | FLOT | $480.6K | 9,414 | flat | 23q | HELD | |
| VALUED ADVISERS TR | MBSF | $477.9K | 18,807 | - | new | NEW | |
| DOUBLELINE ETF TRUST | DMBS | $465.0K | 10,040 | flat | 4q | +3.8%+$16.9K | |
| DANAHER CORP DEL | DHR | $459.3K | 2,073 | +0.05pp | 3q | -1.2%-$5.5K | |
| BONDBLOXX ETF TRUST | BBBS | $454.5K | 9,116 | flat | 3q | HELD | |
| VANGUARD SCOTTSDALE FDS | VCIT | $445.7K | 5,691 | -0.01pp | 24q | +2.8%+$12.2K | |
| BONDBLOXX ETF TRUST | XHLF | $431.9K | 8,596 | +0.01pp | 11q | +3.0%+$12.7K | |
| SOUTHERN CO | SO | $431.8K | 5,209 | -0.05pp | 10q | HELD | |
| RAYMOND JAMES FINL INC | RJF | $429.3K | 2,717 | +0.01pp | 14q | HELD | |
| ATMOS ENERGY CORP | ATO | $428.8K | 2,741 | -0.03pp | 3q | -0.6%-$2.7K | |
| UNITEDHEALTH GROUP INC | UNH | $418.8K | 1,141 | - | new | NEW | |
| ISHARES TR | IWM | $400.7K | 1,442 | -0.02pp | 23q | HELD | |
| ACCENTURE PLC IRELAND | ACN | $378.7K | 2,065 | +0.09pp | 2q | -2.4%-$9.2K | |
| INVESCO EXCH TRADED FD TR II | PGX | $370.9K | 36,834 | -0.02pp | 25q | HELD | |
| VERIZON COMMUNICATIONS INC | VZ | $369.3K | 8,052 | +0.02pp | 32q | HELD | |
| NETFLIX INC | NFLX | $365.8K | 5,257 | -0.01pp | 20q | -0.8%-$2.9K | |
| WALMART INC | WMT | $363.2K | 3,495 | -0.40pp | 32q | -55.0%-$444.6K | |
| CISCO SYS INC | CSCO | $362.3K | 3,366 | -0.02pp | 32q | HELD | |
| CORNING INC | GLW | $355.5K | 2,312 | -0.14pp | 32q | +10.4%+$33.5K | |
| ISHARES TR | IVV | $351.5K | 459 | +0.01pp | 25q | -1.1%-$3.8K | |
| NUCOR CORP | NUE | $343.6K | 1,470 | +0.01pp | 32q | HELD | |
| NORFOLK SOUTHN CORP | NSC | $309.0K | 1,000 | flat | 12q | HELD | |
| PHILLIPS 66 | PSX | $302.8K | 1,186 | +0.08pp | 3q | -1.4%-$4.3K | |
| RTX CORPORATION | RTX | $302.6K | 1,630 | flat | 2q | HELD | |
| US BANCORP | USB | $302.3K | 5,233 | -0.01pp | 32q | HELD | |
| SCHWAB STRATEGIC TR | SCHD | $295.3K | 9,077 | +0.01pp | 23q | HELD | |
| NETAPP INC | NTAP | $294.3K | 1,401 | +0.06pp | 2q | HELD | |
| EMERSON ELEC CO | EMR | $283.8K | 1,830 | flat | 32q | -9.0%-$27.9K | |
| BECTON DICKINSON & CO | BDX | $282.8K | 1,580 | +0.04pp | 32q | HELD | |
| INTERNATIONAL PAPER CO | IP | $274.8K | 8,285 | -0.03pp | 32q | HELD | |
| MORGAN STANLEY | MS | $274.6K | 1,460 | -0.02pp | 32q | HELD | |
| CATERPILLAR INC | CAT | $267.6K | 330 | -0.06pp | 32q | HELD | |
| PROCTER & GAMBLE CO | PG | $262.7K | 1,808 | flat | 32q | HELD | |
| MARRIOTT INTL INC NEW | MAR | $259.6K | 730 | -0.01pp | 14q | HELD | |
| ABBOTT LABORATORIES | ABT | $259.3K | 2,623 | +0.02pp | 26q | HELD | |
| AIR PRODUCTS AND CHEMICALS I | APD | $258.8K | 930 | flat | 32q | +3.9%+$9.7K | |
| FREEPORT-MCMORAN INC | FCX | $258.5K | 3,693 | - | new | NEW | |
| MOTOROLA SOLUTIONS INC | MSI | $254.6K | 571 | - | new | NEW | |
| DISNEY WALT CO | DIS | $251.2K | 2,395 | +0.02pp | 32q | HELD | |
| ILLINOIS TOOL WKS INC | ITW | $243.6K | 947 | -0.01pp | 32q | HELD | |
| INTERNATIONAL BUSINESS MACHS | IBM | $238.6K | 1,085 | -0.20pp | 9q | -39.5%-$155.7K | |
| AMERICAN TOWER CORP | AMT | $234.9K | 1,435 | flat | 28q | HELD | |
| AMERIPRISE FINL INC | AMP | $234.4K | 476 | +0.01pp | 12q | -1.4%-$3.4K | |
| CSX CORP | CSX | $227.6K | 4,894 | +0.02pp | 2q | +11.3%+$23.1K | |
| AUTOMATIC DATA PROCESSING IN | ADP | $218.1K | 845 | - | new | NEW | |
| SHELL PLC | SHEL | $213.1K | 2,242 | - | new | NEW | |
| ADOBE INC | ADBE | $208.7K | 870 | - | new | NEW | |
| HOME DEPOT INC | HD | $204.8K | 720 | -0.04pp | 32q | HELD | |
| STRYKER CORPORATION | SYK | $204.3K | 742 | -0.02pp | 32q | HELD |
By sector
Industry comes from the SIC code on each company's own SEC filings, which is self-reported and sometimes out of date. Derivative exposure is counted with the shares. Securities the SEC assigns no industry - funds, trusts, foreign issues - are shown as not classified rather than dropped.
| Sector | Value | Share |
|---|---|---|
| Semiconductors & Electronics | $23.0M | 17.9% |
| Software & IT Services | $14.0M | 10.9% |
| Computer Hardware | $13.2M | 10.2% |
| Business Services | $10.9M | 8.5% |
| Banks & Lending | $9.6M | 7.5% |
| Retail & Consumer | $8.2M | 6.4% |
| Capital Markets | $6.6M | 5.1% |
| Biotech & Pharma | $6.4M | 5.0% |
| Instruments & Controls | $5.8M | 4.5% |
| Construction & Building | $4.7M | 3.6% |
| Energy | $4.5M | 3.5% |
| Industrials | $2.4M | 1.9% |
| Other sectors | $12.5M | 9.8% |
| Not classified | $6.8M | 5.3% |
What the disclosed book did
This is not the fund's return. A 13F shows long US equity positions only, so shorts, bonds, foreign listings, private holdings and cash are all invisible here. What this measures is the quarter's change in value of the positions this manager disclosed, had they been left untouched - the return a reader following the filing would have earned.
| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +17.0% | +14.8% | +2.2% | 100% |
| Q1 2026 | -4.3% | -4.6% | +0.4% | 100% |
| Q4 2025 | -0.3% | +2.4% | -2.7% | 100% |
| Q3 2025 | +4.6% | +7.8% | -3.2% | 100% |
| Q2 2025 | +11.7% | +10.5% | +1.3% | 100% |
| Q1 2025 | -3.7% | -4.6% | +0.9% | 100% |
| Q4 2024 | +1.3% | +2.1% | -0.9% | 100% |
| Q3 2024 | +5.6% | +5.4% | +0.2% | 100% |
Market is SPY over the same two quarter ends, priced the same way as everything else here - the median across every filer reporting it. It is a large-cap US proxy, so a manager holding small caps or biotech will beat or trail it for reasons that are not skill. Prices are quarter-end to quarter-end and say nothing about the path in between, or about trades opened and closed inside a quarter.
Quarter by quarter
| Quarter | Value | Positions | New | Added | Trimmed | Exited | Top 10 | Days to file |
|---|---|---|---|---|---|---|---|---|
| Q3 2026 | $128.6M | 106 | 9 | 21 | 32 | 9 | 37.9% | 9 |
| Q2 2026 | $129.9M | 106 | 9 | 20 | 43 | 5 | 38.7% | 31 |
| Q1 2026 | $112.5M | 102 | 11 | 8 | 63 | 14 | 36.6% | 28 |
| Q4 2025 | $125.2M | 105 | 4 | 39 | 13 | 9 | 34.5% | 22 |
| Q3 2025 | $125.8M | 110 | 5 | 12 | 69 | 6 | 33.0% | 28 |
| Q2 2025 | $140.9M | 111 | 5 | 27 | 45 | 8 | 29.4% | 17 |
| Q1 2025 | $131.3M | 114 | 3 | 23 | 77 | 6 | 29.4% | 16 |
| Q4 2024 | $149.8M | 117 | 8 | 26 | 72 | 2 | 29.0% | 27 |
| Q3 2024 | $153.3M | 111 | 8 | 23 | 76 | 4 | 27.9% | 21 |
| Q2 2024 | $162.7M | 107 | 11 | 26 | 60 | 12 | 30.7% | 22 |
| Q1 2024 | $162.9M | 108 | 16 | 20 | 55 | 6 | 27.7% | 25 |
| Q4 2023 | $155.8M | 98 | 9 | 32 | 21 | 6 | 27.1% | 26 |
| Q3 2023 | $138.8M | 95 | 3 | 28 | 47 | 4 | 27.5% | 17 |
| Q2 2023 | $144.2M | 96 | 8 | 53 | 16 | 5 | 26.5% | 20 |
| Q1 2023 | $132.0M | 93 | 8 | 15 | 20 | 5 | 25.3% | 20 |
| Q4 2022 | $124.6M | 90 | 6 | 42 | 16 | 5 | 24.0% | 18 |
| Q3 2022 | $112.3M | 89 | 2 | 29 | 50 | 3 | 23.7% | 18 |
| Q2 2022 | $135.4M | 90 | 1 | 56 | 7 | 3 | 23.2% | 22 |
| Q1 2022 | $156.6M | 92 | 5 | 48 | 18 | 8 | 24.7% | 34 |
| Q4 2021 | $166.2M | 95 | 6 | 41 | 37 | 4 | 24.1% | 25 |
| Q3 2021 | $152.9M | 93 | 3 | 30 | 51 | 2 | 23.5% | 20 |
| Q2 2021 | $245.9M | 92 | 9 | 23 | 48 | 2 | 23.6% | 30 |
| Q1 2021 | $247.5M | 85 | 16 | 21 | 36 | 4 | 22.5% | 19 |
| Q4 2020 | $228.0M | 73 | 3 | 19 | 50 | 1 | 24.6% | 27 |
| Q3 2020 | $241.8M | 71 | 9 | 56 | 5 | 7 | 25.3% | 30 |
| Q2 2020 | $206.0M | 69 | 1 | 36 | 9 | 0 | 25.7% | 27 |
| Q1 2020 | $168.1M | 68 | 5 | 24 | 38 | 7 | 24.8% | 24 |
| Q4 2019 | $219.3M | 70 | 2 | 31 | 31 | 2 | 22.7% | 17 |
| Q3 2019 | $206.6M | 70 | 6 | 11 | 34 | 4 | 23.1% | 17 |
| Q2 2019 | $208.1M | 68 | 0 | 18 | 49 | 2 | 23.2% | 10 |
| Q1 2019 | $209.1M | 70 | 6 | 9 | 44 | 4 | 23.0% | 16 |
| Q4 2018 | $191.5M | 68 | 0 | 0 | 0 | 0 | 22.8% | 37 |
Rows marked UNVERIFIED ID, PLACEHOLDER ID, TICKER AS ID or NON-CUSIP ID carry an identifier that is not a valid CUSIP. They are shown because the filer reported that money, but treat the security named with caution - hover the chip for what is wrong with it, and see the methodology.
Held counts consecutive filings in which this manager reported the position, and can reach further back than the quarters listed above: the tabs begin at Q4 2018 because earlier coverage is too sparse to describe a market, but tenure is counted over every filing we hold, some reaching to 2007. A position sold and later rebought starts again from one.
Weight change is the shift in this position's share of the whole book, in percentage points. It is the more useful column: when money flows into or out of a broad fund, almost every holding is bought or sold at once, so added and trimmed largely track flows. A weight that rose while the book shrank is a decision. Both compare with the previous quarter this filer reported, not the previous calendar quarter.