13F-HR 1 aic13f4qtr2004.txt 13F HOLDINGS REPORT FORM 13F COVER PAGE "Report for the Quarter Ended: "dec 31,2004 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." Address "100 Prospect Street, South Tower" "Stamford, CT 06901" 13F Filing Number: 28-542 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 and that it is understood that all requirements, statements, schedules, lists and tables, are considered integral parts of this form Person signing this report on behalf of reporting manager: Name: Stewart P. Zobian Title: President Phone: (203) 316-9000 "Signature, Place and Date of signing" "Stewart P. Zobian, Stamford, CT mar,25,2003" Report Type (Check only one.): [X] 13F Holdings Report [ ] 13F Notice [ ] 13F Combination Report List of other Managers Reporting for this Manager:NONE I am signing this report as required by the Securities Exchange Act of 1934 FORM 13F SUMMARY PAGE Report Summary: Number of other included Managers: 0 Form 13F information Table Entry Total: 450 Form 13F information Table Value Total: 523151177 List of other included managers: NONE REPORTING MANAGER; ARGUS INVESTORS' COUNSEL PAGE 1 ------------------------------------------------------------------------------------------------------------------------------------ ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5 ITEM 6 ITEM 7 ITEM 8 NAME OF ISSUER TITLE CUSIP FAIR SHARES OR INVESTMENT DISCRETION MANA- VOTING AUTHORITY OF NUMBER MARKET PRINCIPAL SHARED GERS CLASS VALUE AMOUNT SOLE SHARED OTHER SOLE SHARED NONE ------------------------------------------------------------------------------------------------------------------------------------ ABBOTT LABS COMMON 002824100 10477590 224600 224600 220050 450 AIR PRODS & CHEMS INC COMMON 009158106 13650196 235470 235470 230270 400 ALBERTSONS INC COMMON 013104104 8940314 374385 374385 367585 ALCOA INC COMMON 013817101 8247279 262485 262485 257260 725 AMERICAN EXPRESS CO COMMON 025816109 13472430 239000 239000 233680 420 AMERICAN INTL GROUP INC COMMON 026874107 8139665 123948 123948 121248 300 ARCHER DANIELS MIDLAND C COMMON 039483102 1041141 46667 46667 46667 AUTOMATIC DATA PROCESSIN COMMON 053015103 9420162 212405 212405 205655 550 BP PLC COMMON 055622104 778472 13330 13330 12190 440 BECTON DICKINSON & CO COMMON 075887109 13940140 245425 245425 240025 CATERPILLAR INC DEL COMMON 149123101 926345 9500 9500 9215 285 CISCO SYS INC COMMON 17275R102 8408257 435210 435210 426110 1000 COCA COLA CO COMMON 191216100 1038085 24930 24930 21130 DELL INC COMMON 24702R101 14490893 343875 343875 337025 650 DISNEY WALT CO COMMON 254687106 13490506 485270 485270 474320 1050 DOW CHEM CO COMMON 260543103 14151691 285835 285835 279935 EMERSON ELEC CO COMMON 291011104 13044909 186090 186090 182090 EXXON MOBIL CORP COMMON 30231G102 11400327 222402 222402 217102 FEDERAL NATL MTG ASSN COMMON 313586109 8056343 113135 113135 110560 275 FEDEX CORP COMMON 31428X106 14330295 145500 145500 142190 310 GANNETT INC COMMON 364730101 8545820 104600 104600 102350 250 GENERAL DYNAMICS CORP COMMON 369550108 13159203 125805 125805 122630 175 GENERAL ELEC CO COMMON 369604103 14172768 388295 388295 379375 720 GENERAL MTRS CORP COMMON 370442105 8133382 203030 203030 198370 560 GILLETTE CO COMMON 375766102 13536098 302280 302280 294940 540 HOME DEPOT INC COMMON 437076102 13745825 321615 321615 313640 575 INTEL CORP COMMON 458140100 7880793 336930 336930 329230 900 INTERNATIONAL BUSINESS M COMMON 459200101 8506961 86295 86295 84245 250 INTL PAPER CO COMMON 460146103 8026200 191100 191100 187400 JPMORGAN & CHASE & CO COMMON 46625H100 1058770 27141 27141 26541 600 JOHNSON & JOHNSON COMMON 478160104 14190859 223760 223760 217940 420 KIMBERLY CLARK CORP COMMON 494368103 8378271 127310 127310 124510 400 MCDONALDS CORP COMMON 580135101 13411660 418330 418330 409770 860 MICROSOFT CORP COMMON 594918104 13228938 495095 495095 483195 800 MORGAN STANLEY COMMON 617446448 8438207 151985 151985 148485 400 NUCOR CORP COMMON 670346105 13982631 267150 267150 261125 525 PEPSICO INC COMMON 713448108 7111728 136240 136240 135790 450 PFIZER INC COMMON 717081103 7819074 290780 290780 285080 800 PITNEY BOWES INC COMMON 724479100 11838424 255800 255800 249700 PROCTER & GAMBLE CO COMMON 742718109 7590024 137800 137800 135000 QUALCOMM INC COMMON 747525103 13831304 326210 326210 319030 680 ROYAL DUTCH PETE CO COMMON 780257804 1589426 27700 27700 27700 SCHLUMBERGER LTD COMMON 806857108 14078916 210290 210290 205990 400 STAPLES INC COMMON 855030102 14373438 426385 426385 416105 880 3M CO COMMON 88579Y101 7925910 96575 96575 94385 290 TIME WARNER INC COMMON 887317105 8859475 455500 455500 445100 1200 US BANCORP DEL COMMON 902973304 14088049 449810 449810 438710 700 UNILEVER N V COMMON 904784709 8091589 121295 121295 118545 350 UNION PAC CORP COMMON 907818108 899805 13380 13380 13380 VERIZON COMMUNICATIONS COMMON 92343V104 13763678 339760 339760 331500 660 WAL MART STORES INC COMMON 931142103 8250748 156205 156205 152895 410 INGERSOLL-RAND COMPANY L COMMON G4776G101 13834084 172280 172280 168230 350 --------- --------- --------- --------- --------- --------- --------- --------- REPORT TOTALS 523151177 11964488 11964488 11693438 22650 ========= ========= ========= ========= ========= ========= ========= =========