# EDGAR Filing Document

**Accession Number:** 0000007195
**File Stem:** 0000007195-23-000001
**Filing Date:** 2023-1
**Character Count:** 12303
**Document Hash:** 05c506fc290416c4496d05dc69a7a179
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000007195-23-000001.hdr.sgml**: 20230118

**ACCESSION NUMBER**: 0000007195-23-000001

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230118

**DATE AS OF CHANGE**: 20230118

**EFFECTIVENESS DATE**: 20230118

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ARGUS INVESTORS' COUNSEL, INC.
- **CENTRAL INDEX KEY:** 0000007195
- **IRS NUMBER:** 131931123
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-00542
- **FILM NUMBER:** 23534031

**BUSINESS ADDRESS:**
- **STREET 1:** 1266 E. MAIN STREET
- **STREET 2:** SOUND VIEW PLAZA
- **CITY:** STAMFORD
- **STATE:** CT
- **ZIP:** 06902
- **BUSINESS PHONE:** 2033169000

**MAIL ADDRESS:**
- **STREET 1:** 1266 E. MAIN STREET
- **STREET 2:** SOUND VIEW PLAZA
- **CITY:** STAMFORD
- **STATE:** CT
- **ZIP:** 06902

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ARGUS INVESTORS COUNSEL INC
- **DATE OF NAME CHANGE:** 19920929

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 12-31-2022

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** ARGUS INVESTORS' COUNSEL INC.<br>**Address:** 1266 E. MAIN STREET<br>SOUND VIEW PLAZA<br>STAMFORD, CT 06902

**Form 13F File Number:** 028-00542

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Sharon D. Wagoner<br>**Title:** Chairman  President<br>**Phone:** 2035489885

**Signature, Place, and Date of Signing:**

Sharon D. Wagoner  Stamford, CT  01-18-2023<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 90

**Form 13F Information Table Value Total:** $124612924

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| Abbott Labs | COM | 002824100 |  | 1791078 | 16314 | SH |  | SOLE |  | 11112 | 0 | 5202 |
| Accenture plc | COM | G1151C101 |  | 365037 | 1368 | SH |  | SOLE |  | 32 | 0 | 1336 |
| Adobe Inc | COM | 00724F101 |  | 2127757 | 6323 | SH |  | SOLE |  | 3356 | 0 | 2967 |
| Advance Auto Parts Inc | COM | 00751Y106 |  | 349637 | 2378 | SH |  | SOLE |  | 0 | 0 | 2378 |
| Air Prods  Chems Inc | COM | 009158106 |  | 2750320 | 8922 | SH |  | SOLE |  | 5003 | 0 | 3919 |
| Alphabet Inc | COM | 02079K305 |  | 2509208 | 28439 | SH |  | SOLE |  | 13310 | 0 | 15129 |
| Amazon.com Inc | COM | 023135106 |  | 2051611 | 24424 | SH |  | SOLE |  | 12725 | 0 | 11699 |
| American Express Co | COM | 025816109 |  | 1611952 | 10910 | SH |  | SOLE |  | 7270 | 0 | 3640 |
| American Twr Corp-REIT | COM | 03027X100 |  | 1944041 | 9176 | SH |  | SOLE |  | 5497 | 0 | 3679 |
| Ameriprise Financial Inc | COM | 03076C106 |  | 213288 | 685 | SH |  | SOLE |  | 56 | 0 | 629 |
| Amgen Inc | COM | 031162100 |  | 1554829 | 5920 | SH |  | SOLE |  | 5380 | 0 | 540 |
| Analog Devices Inc | COM | 032654105 |  | 1532250 | 9341 | SH |  | SOLE |  | 21 | 0 | 9320 |
| Apple Inc | COM | 037833100 |  | 3453986 | 26583 | SH |  | SOLE |  | 9620 | 0 | 16963 |
| Applied Matls Inc | COM | 038222105 |  | 772625 | 7934 | SH |  | SOLE |  | 17 | 0 | 7917 |
| Archer-Daniels-Midland Co | COM | 039483102 |  | 1426733 | 15366 | SH |  | SOLE |  | 13563 | 0 | 1803 |
| Autodesk Inc | COM | 052769106 |  | 1126409 | 6028 | SH |  | SOLE |  | 12 | 0 | 6016 |
| Automatic Data Process | COM | 053015103 |  | 2302062 | 9638 | SH |  | SOLE |  | 5675 | 0 | 3963 |
| Becton Dickinson  Co | COM | 075887109 |  | 1418994 | 5580 | SH |  | SOLE |  | 5030 | 0 | 550 |
| Bio Techne Corp | COM | 09073M104 |  | 1417769 | 17106 | SH |  | SOLE |  | 36 | 0 | 17070 |
| BlackRock Inc | COM | 09247X101 |  | 3151406 | 4447 | SH |  | SOLE |  | 1793 | 0 | 2654 |
| Broadcom Inc | COM | 11135F101 |  | 1297182 | 2320 | SH |  | SOLE |  | 2075 | 0 | 245 |
| Catalent Inc | COM | 148806102 |  | 522836 | 11616 | SH |  | SOLE |  | 25 | 0 | 11591 |
| Caterpillar Inc | COM | 149123101 |  | 1643382 | 6860 | SH |  | SOLE |  | 6130 | 0 | 730 |
| Chevron Corp | COM | 166764100 |  | 1276461 | 7112 | SH |  | SOLE |  | 16 | 0 | 7096 |
| Cintas Corporation | COM | 172908105 |  | 555493 | 1230 | SH |  | SOLE |  | 15 | 0 | 1215 |
| Cisco Sys Inc | COM | 17275R102 |  | 1401807 | 29425 | SH |  | SOLE |  | 26700 | 0 | 2725 |
| Corning Inc | COM | 219350105 |  | 1337223 | 41867 | SH |  | SOLE |  | 37700 | 0 | 4167 |
| Costco Whsl Corp | COM | 22160K105 |  | 3557319 | 7793 | SH |  | SOLE |  | 2516 | 0 | 5277 |
| Cummins Inc | COM | 231021106 |  | 1226544 | 5062 | SH |  | SOLE |  | 11 | 0 | 5051 |
| Danaher Corp | COM | 235851102 |  | 1748158 | 6586 | SH |  | SOLE |  | 38 | 0 | 6548 |
| Devon Energy Corp | COM | 25179M103 |  | 1159364 | 18848 | SH |  | SOLE |  | 115 | 0 | 18733 |
| Eli Lilly  Co | COM | 532457108 |  | 3195788 | 8735 | SH |  | SOLE |  | 71 | 0 | 8664 |
| Emerson Elec Co | COM | 291011104 |  | 1530236 | 15930 | SH |  | SOLE |  | 14420 | 0 | 1510 |
| Enbridge Inc | COM | 29250N105 |  | 379622 | 9709 | SH |  | SOLE |  | 0 | 0 | 9709 |
| Estee Lauder Cos Inc | COM | 518439104 |  | 514214 | 2073 | SH |  | SOLE |  | 34 | 0 | 2039 |
| Exxon Mobil Corp | COM | 30231G102 |  | 1615895 | 14650 | SH |  | SOLE |  | 13400 | 0 | 1250 |
| Fastenal Co | COM | 311900104 |  | 385122 | 8139 | SH |  | SOLE |  | 0 | 0 | 8139 |
| General Dynamics Corp | COM | 369550108 |  | 1534808 | 6186 | SH |  | SOLE |  | 5570 | 0 | 616 |
| HCA Healthcare Inc | COM | 40412C101 |  | 427609 | 1782 | SH |  | SOLE |  | 0 | 0 | 1782 |
| Hershey Company | COM | 427866108 |  | 338092 | 1460 | SH |  | SOLE |  | 0 | 0 | 1460 |
| Home Depot Inc | COM | 437076102 |  | 2140454 | 6777 | SH |  | SOLE |  | 3900 | 0 | 2877 |
| IShares Floating Rate Bd ETF | COM | 46429B655 |  | 412807 | 8202 | SH |  | SOLE |  | 532 | 0 | 7670 |
| Illinois Tool Wks Inc | COM | 452308109 |  | 1915163 | 8693 | SH |  | SOLE |  | 6090 | 0 | 2603 |
| Intel Corp | COM | 458140100 |  | 783914 | 29660 | SH |  | SOLE |  | 26525 | 0 | 3135 |
| International Paper Co | COM | 460146103 |  | 1148504 | 33165 | SH |  | SOLE |  | 30240 | 0 | 2925 |
| Intuit Inc | COM | 461202103 |  | 442160 | 1136 | SH |  | SOLE |  | 0 | 0 | 1136 |
| Invesco Preferred ETF | COM | 46138E511 |  | 445411 | 39840 | SH |  | SOLE |  | 3207 | 0 | 36633 |
| JPMorgan Chase  Co | COM | 46625H100 |  | 3256469 | 24284 | SH |  | SOLE |  | 10080 | 0 | 14204 |
| Johnson  Johnson | COM | 478160104 |  | 1543214 | 8736 | SH |  | SOLE |  | 7915 | 0 | 821 |
| L3Harris Technologies | COM | 502431109 |  | 800808 | 3846 | SH |  | SOLE |  | 9 | 0 | 3837 |
| Lockheed Martin Corp | COM | 539830109 |  | 692115 | 1423 | SH |  | SOLE |  | 0 | 0 | 1423 |
| Mastercard Inc CL A | COM | 57636Q104 |  | 657746 | 1892 | SH |  | SOLE |  | 46 | 0 | 1846 |
| McDonalds Corp | COM | 580135101 |  | 2788994 | 10583 | SH |  | SOLE |  | 5579 | 0 | 5004 |
| Microsoft Corp | COM | 594918104 |  | 2260415 | 9425 | SH |  | SOLE |  | 5239 | 0 | 4186 |
| Morgan Stanley | COM | 617446448 |  | 1377324 | 16200 | SH |  | SOLE |  | 14470 | 0 | 1730 |
| Nasdaq Inc | COM | 631103108 |  | 582989 | 9503 | SH |  | SOLE |  | 0 | 0 | 9503 |
| Netflix Inc | COM | 64110L106 |  | 1593532 | 5404 | SH |  | SOLE |  | 4570 | 0 | 834 |
| NextEra Energy Inc | COM | 65339F101 |  | 2197662 | 26288 | SH |  | SOLE |  | 16004 | 0 | 10284 |
| Nucor Corp | COM | 670346105 |  | 1351184 | 10251 | SH |  | SOLE |  | 9250 | 0 | 1001 |
| Nvidia Corp | COM | 67066G104 |  | 2700275 | 18477 | SH |  | SOLE |  | 8014 | 0 | 10463 |
| Old Dominion Frt Line | COM | 679580100 |  | 2292642 | 8079 | SH |  | SOLE |  | 13 | 0 | 8066 |
| PNC Finl Svc Group | COM | 693475105 |  | 1243966 | 7876 | SH |  | SOLE |  | 18 | 0 | 7858 |
| PayPal Hldgs Inc | COM | 70450Y103 |  | 1597639 | 22432 | SH |  | SOLE |  | 13355 | 0 | 9077 |
| Pepsico Inc | COM | 713448108 |  | 1574452 | 8715 | SH |  | SOLE |  | 7850 | 0 | 865 |
| Pfizer Inc | COM | 717081103 |  | 1402183 | 27365 | SH |  | SOLE |  | 24620 | 0 | 2745 |
| Procter  Gamble Co | COM | 742718109 |  | 1468616 | 9690 | SH |  | SOLE |  | 8800 | 0 | 890 |
| S Global Inc | COM | 78409V104 |  | 1628897 | 4863 | SH |  | SOLE |  | 22 | 0 | 4841 |
| Schwab US Dividend Equity ETF | COM | 808524797 |  | 312660 | 4139 | SH |  | SOLE |  | 44 | 0 | 4095 |
| Stryker Corp | COM | 863667101 |  | 2002126 | 8189 | SH |  | SOLE |  | 5300 | 0 | 2889 |
| TJX Companies | COM | 872540109 |  | 1548220 | 19450 | SH |  | SOLE |  | 17750 | 0 | 1700 |
| Texas Instruments Inc | COM | 882508104 |  | 1438901 | 8709 | SH |  | SOLE |  | 7785 | 0 | 924 |
| Thermo Fisher Scientific | COM | 883556102 |  | 1586731 | 2881 | SH |  | SOLE |  | 7 | 0 | 2874 |
| US Bancorp | COM | 902973304 |  | 1212707 | 27808 | SH |  | SOLE |  | 24890 | 0 | 2918 |
| Union Pac Corp | COM | 907818108 |  | 2451949 | 11841 | SH |  | SOLE |  | 5885 | 0 | 5956 |
| UnitedHealth Group Inc | COM | 91324P102 |  | 903584 | 1704 | SH |  | SOLE |  | 0 | 0 | 1704 |
| Vanguard Interm-Tm Corp Bd Idx | COM | 92206C870 |  | 515286 | 6648 | SH |  | SOLE |  | 492 | 0 | 6156 |
| Vanguard Short-Term Bd ETF | COM | 921937827 |  | 1121145 | 14893 | SH |  | SOLE |  | 1167 | 0 | 13726 |
| Verizon Cummunications Inc | COM | 92343V104 |  | 1333887 | 33855 | SH |  | SOLE |  | 30910 | 0 | 2945 |
| Visa Inc | COM | 92826C839 |  | 2581886 | 12427 | SH |  | SOLE |  | 6142 | 0 | 6285 |
| W.R. Berkley Corp | COM | 084423102 |  | 394563 | 5437 | SH |  | SOLE |  | 0 | 0 | 5437 |
| Walmart Inc | COM | 931142103 |  | 1412228 | 9960 | SH |  | SOLE |  | 9020 | 0 | 940 |
| Walt Disney Co (The) | COM | 254687106 |  | 1275833 | 14685 | SH |  | SOLE |  | 13300 | 0 | 1385 |
| Wells Fargo  Co | COM | 949746101 |  | 910279 | 22046 | SH |  | SOLE |  | 52 | 0 | 21994 |
| Zoetis Inc | COM | 98978V103 |  | 1453043 | 9915 | SH |  | SOLE |  | 8414 | 0 | 1501 |
| iShares 0-5 Yr Tips Bond ETF | COM | 46429b747 |  | 341784 | 3525 | SH |  | SOLE |  | 0 | 0 | 3525 |
| iShares Core S 500 | COM | 464287200 |  | 262800 | 684 | SH |  | SOLE |  | 0 | 0 | 684 |
| iShares MBS ETF | COM | 464288588 |  | 477384 | 5147 | SH |  | SOLE |  | 460 | 0 | 4687 |
| iShares MSCI EAFE ETF | COM | 464287465 |  | 232103 | 3536 | SH |  | SOLE |  | 0 | 0 | 3536 |
| iShares Russell 1000 Grw ETF | COM | 464287614 |  | 687710 | 3210 | SH |  | SOLE |  | 0 | 0 | 3210 |
| iShares Russell 2000 Index ETF | COM | 464287655 |  | 338433 | 1941 | SH |  | SOLE |  | 0 | 0 | 1941 |

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