13F-HR 1 aic13f2qtr11.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, 2011 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, President, Secretary and Chief Compliance Officer Phone: (203) 316-9000 Signature, Place and Date of Signing: /s/Sharon D. Wagoner Stamford, Connecticut August 11, 2011 [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: 53 Form 13F Information Table Value Total: 212275 (thousands) 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 4435 46760 SH Sole 42920 3840 Abbott Labs Com COM 002824100 3646 69290 SH Sole 68665 625 Air Prods & Chems Inc Com COM 009158106 4504 47120 SH Sole 43780 3340 Alcoa Inc Com COM 013817101 4224 266330 SH Sole 247530 18800 American Express Co Com COM 025816109 4657 90085 SH Sole 83160 6925 Amgen Inc Com COM 031162100 3955 67780 SH Sole 62480 5300 Apple Inc Com COM 037833100 5252 15645 SH Sole 14545 1100 Archer Daniels Midland Com COM 039483102 3694 122530 SH Sole 112705 9825 Automatic Data Process Com COM 053015103 4396 83445 SH Sole 76695 6750 Becton Dickinson & Co Com COM 075887109 4376 50780 SH Sole 46430 4350 Caterpillar Inc Del Com COM 149123101 4284 40240 SH Sole 39940 300 Chubb Corp Com COM 171232101 3991 63740 SH Sole 58840 4900 Cisco Sys Inc Com COM 17275R102 3541 226810 SH Sole 207110 19700 Coca-Cola Co Com COM 191216100 572 8500 SH Sole 8500 Corning Inc Com COM 219350105 3170 174675 SH Sole 161175 13500 Costco Whsl Corp Com COM 22160K105 4710 57980 SH Sole 53780 4200 Disney Walt Co Com COM 254687106 3967 101605 SH Sole 94855 6750 Emerson Elec Co Com COM 291011104 3667 65200 SH Sole 65200 Exxon Mobil Corp Com COM 30231G102 4778 58710 SH Sole 54360 4350 Fedex Corp Com COM 31428X106 4171 43970 SH Sole 40445 3525 General Dynamics Corp Com COM 369550108 3945 52945 SH Sole 48295 4650 General Elec Co Com COM 369604103 3661 194125 SH Sole 192475 1650 Google Inc Cl A COM 38259P508 3645 7199 SH Sole 6649 550 Halliburton Co Com COM 406216101 561 11000 SH Sole 5000 6000 Home Depot Inc Com COM 437076102 4356 120260 SH Sole 110960 9300 Illinois Tool Wks Inc Com COM 452308109 4493 79540 SH Sole 72940 6600 Ingersoll-Rand PLC COM G47791101 4222 92980 SH Sole 86400 6580 Intel Corp Com COM 458140100 4279 193115 SH Sole 176665 16450 International Bus Mach Com COM 459200101 4785 27895 SH Sole 25855 2040 International Paper Co Com COM 460146103 3654 122520 SH Sole 122520 JPMorgan Chase & Co Com COM 46625H100 3093 75560 SH Sole 74910 650 Johnson & Johnson Com COM 478160104 4603 69190 SH Sole 63590 5600 Kimberly Clark Corp Com COM 494368103 4280 64305 SH Sole 59635 4670 McDonalds Corp Com COM 580135101 4799 56910 SH Sole 52260 4650 McGraw-Hill Cos Inc COM 580645109 4497 107300 SH Sole 98560 8740 Microsoft Corp Com COM 594918104 4088 157240 SH Sole 145240 12000 Morgan Stanley Com COM 617446448 3685 160150 SH Sole 146850 13300 Nucor Corp Com COM 670346105 3759 91200 SH Sole 85300 5900 Occidental Pete CP Com COM 674599105 4059 39015 SH Sole 35915 3100 Pepsico Inc Com COM 713448108 3719 52800 SH Sole 48150 4650 Pfizer Inc Com COM 717081103 4561 221425 SH Sole 203525 17900 Procter & Gamble Co Com COM 742718109 4111 64665 SH Sole 59365 5300 Qualcomm Inc Com COM 747525103 4418 77800 SH Sole 71280 6520 Schlumberger Ltd Com COM 806857108 4053 46915 SH Sole 46565 350 Staples Inc Com COM 855030102 3516 222560 SH Sole 204060 18500 Stryker Corp Com COM 863667101 3986 67915 SH Sole 62215 5700 Time Warner Inc Com COM 887317303 4236 116460 SH Sole 107060 9400 US Bancorp DE Com COM 902973304 3976 155875 SH Sole 143825 12050 Unilever NV NY COM 904784709 3872 117870 SH Sole 117070 800 Union Pac Corp Com COM 907818108 4594 44000 SH Sole 40275 3725 Verizon Communications Com COM 92343V104 4447 119435 SH Sole 110435 9000 Wal-Mart Stores Inc Com COM 931142103 3981 74920 SH Sole 69020 5900 Walgreen Co Com COM 931422109 4349 102425 SH Sole 93725 8700