13F-HR 1 aic13f2qtr10.txt 13F HOLDINGS REPORT UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 13F FORM 13F COVER PAGE Report for the Quarter Ended: June 30, 2010 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: Holly Pond Plaza, 1281 E. Main St. 1st fl Stamford, Connecticut 06902 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 all information contained herein is true, correct and complete, 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: Sharon D. Wagoner Title: Chairman, Secretary and Chief Compliance Officer Phone: (203) 316-9000 Signature, Place and Date of Signing: /s/Sharon D. Wagoner Stamford, Connecticut July 19, 2010 [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 reported are 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).) List of Other Managers Reporting for this Manager: None FORM 13F SUMMARY PAGE Report Summary: Number of other included Managers: None Form 13F information Table Entry Total: 52 Form 13F information Table Value Total: 162857 List of other included managers: None 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. (None) FORM 13F INFORMATION TABLE VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- -------- 3M Co Com COM 88579Y101 3713 47000 SH Sole 40060 6940 Abbott Labs Com COM 002824100 3165 67655 SH Sole 65855 1800 Air Prods & Chems Inc Com COM 009158106 3269 50440 SH Sole 44900 5540 Alcoa Inc Com COM 013817101 2681 266500 SH Sole 231700 34800 American Express Co Com COM 025816109 3370 84875 SH Sole 71375 13500 Amgen Inc Com COM 031162100 3375 64160 SH Sole 55060 9100 Apple Inc Com COM 037833100 4694 18660 SH Sole 16085 2575 Archer Daniels Midland Com COM 039483102 3492 135250 SH Sole 115700 19550 Automatic Data Process Com COM 053015103 3413 84775 SH Sole 71500 13275 Becton Dickinson & Co Com COM 075887109 3332 49275 SH Sole 41825 7450 Caterpillar Inc Del Com COM 149123101 3235 53848 SH Sole 52048 1800 Cisco Sys Inc Com COM 17275R102 3185 149470 SH Sole 126450 23020 Coca-Cola Co Com COM 191216100 418 8340 SH Sole 8340 Corning Inc Com COM 219350105 2667 165150 SH Sole 138450 26700 Costco Whsl Corp Com COM 22160K105 3356 61200 SH Sole 52200 9000 Disney Walt Co Com COM 254687106 3247 103080 SH Sole 88780 14300 Emerson Elec Co Com COM 291011104 2916 66750 SH Sole 64950 1800 Exxon Mobil Corp Com COM 30231G102 3337 58465 SH Sole 51015 7450 Fedex Corp Com COM 31428X106 3029 43205 SH Sole 36580 6625 General Dynamics Corp Com COM 369550108 2950 50375 SH Sole 42575 7800 General Elec Co Com COM 369604103 2881 199816 SH Sole 193025 6791 Google Inc Cl A COM 38259P508 3095 6955 SH Sole 5890 1065 Home Depot Inc Com COM 437076102 3472 123700 SH Sole 104000 19700 Illinois Tool Wks Inc Com COM 452308109 3381 81900 SH Sole 70500 11400 Ingersoll-Rand PLC COM G47791101 3430 99450 SH Sole 86450 13000 Intel Corp Com COM 458140100 3379 173750 SH Sole 145300 28450 International Bus Mach Com COM 459200101 3486 28235 SH Sole 24035 4200 International Paper Co Com COM 460146103 2759 121900 SH Sole 118100 3800 JPMorgan Chase & Co Com COM 46625H100 2747 75032 SH Sole 72410 2622 Johnson & Johnson Com COM 478160104 3487 59050 SH Sole 49950 9100 Kimberly Clark Corp Com COM 494368103 3835 63260 SH Sole 54735 8525 McDonalds Corp Com COM 580135101 3898 59175 SH Sole 50475 8700 McGraw-Hill Cos Inc COM 580645109 2895 102890 SH Sole 88590 14300 Microsoft Corp Com COM 594918104 3007 130700 SH Sole 109900 20800 Morgan Stanley Com COM 617446448 2841 122400 SH Sole 104150 18250 Nucor Corp Com COM 670346105 2927 76450 SH Sole 66950 9500 Pepsico Inc Com COM 713448108 3104 50925 SH Sole 41825 9100 Pfizer Inc Com COM 717081103 3172 222475 SH Sole 191925 30550 Procter & Gamble Co Com COM 742718109 3682 61382 SH Sole 52682 8700 Qualcomm Inc Com COM 747525103 2543 77450 SH Sole 66150 11300 Schlumberger Ltd Com COM 806857108 2778 50200 SH Sole 48575 1625 Staples Inc Com COM 855030102 2925 153550 SH Sole 129850 23700 Stryker Corp Com COM 863667101 3301 65950 SH Sole 56200 9750 Time Warner Inc Com COM 887317303 3312 114546 SH Sole 96080 18466 US Bancorp DE Com COM 902973304 3430 153474 SH Sole 131624 21850 Unilever NV NY COM 904784709 3157 115550 SH Sole 111850 3700 Union Pac Corp Com COM 907818108 3451 49650 SH Sole 42250 7400 Valero Energy Corp Com COM 91913Y100 378 21000 SH Sole 21000 Verizon Communications Com COM 92343V104 3659 130575 SH Sole 111875 18700 Visa Inc Com COM 92826C839 3136 44330 SH Sole 37850 6480 Wal-Mart Stores Inc Com COM 931142103 3486 72520 SH Sole 62520 10000 Walgreen Co Com COM 931422109 2979 111575 SH Sole 94375 17200