13F-HR 1 aic13f4qtr07.txt 13F HOLDINGS REPLORT UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 13F FORM 13F COVER PAGE "Report for the Quarter Ended: December 31, 2007 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: Stewart P. Zobian Title: President Phone: (203) 316-9000 Signature, Place and Date of Signing: /s/Stewart P. Zobian Stamford, Connecticut February 5, 2008 [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: 449 Form 13F information Table Value Total: 576042000 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 11742 139250 SH SOLE 139250 Abbott Labs Com COM 002824100 10331 183985 SH SOLE 183985 Air Prods & Chems Inc Com COM 009158106 13076 132575 SH SOLE 132575 Alcoa Inc Com COM 013817101 11960 327235 SH SOLE 327235 American Express Co Com COM 025816109 10437 200630 SH SOLE 200630 American Intl Group Com COM 026874107 9452 162135 SH SOLE 162135 Amgen Inc Com COM 031162100 9835 211775 SH SOLE 211775 Archer Daniels Midland Com COM 039483102 14434 310885 SH SOLE 310885 Automatic Data Process Com COM 053015103 10917 245155 SH SOLE 245155 Becton Dickinson & Co Com COM 075887109 13451 160935 SH SOLE 160935 Caterpillar Inc Del Com COM 149123101 11876 163675 SH SOLE 163675 Cisco Sys Inc Com COM 17275R102 11894 439390 SH SOLE 439390 Coca Cola Co Com COM 191216100 1013 16500 SH SOLE 16500 Dell Inc Com COM 24702R101 11324 462005 SH SOLE 462005 Disney Walt Co Com COM 254687106 10674 330680 SH SOLE 330680 Dow Chem Co Com COM 260543103 10809 274200 SH SOLE 274200 Emerson Elec Co Com COM 291011104 13844 244330 SH SOLE 244330 Exxon Mobil Corp Com COM 30231G102 12774 136348 SH SOLE 136348 Federal Natl Mtg Assn Com COM 313586109 11379 284610 SH SOLE 284610 Fedex Corp Com COM 31428X106 10125 113550 SH SOLE 113550 Gannett Inc Com COM 364730101 9764 250350 SH SOLE 250350 General Dynamics Corp Com COM 369550108 13319 149665 SH SOLE 149665 General Elec Co Com COM 369604103 11053 298166 SH SOLE 298166 Home Depot Inc Com COM 437076102 9641 357870 SH SOLE 357870 Illinois Tool Wks Inc Com COM 452308109 11648 217565 SH SOLE 217565 Ingersoll-Rand Company Cl A COM G4776G101 11757 253005 SH SOLE 253005 Intel Corp Com COM 458140100 14244 534300 SH SOLE 534300 International Bus Mach Com COM 459200101 13003 120285 SH SOLE 120285 Intl Paper Co Com COM 460146103 9858 304435 SH SOLE 304435 JP Morgan Chase & Co Com COM 46625H100 879 20133 SH SOLE 20133 Johnson & Johnson Com COM 478160104 11982 179645 SH SOLE 179645 Kimberly Clark Corp Com COM 494368103 11437 164935 SH SOLE 164935 McDonalds Corp Com COM 580135101 14097 239305 SH SOLE 239305 McGraw-Hill Cos Inc COM 580645109 9253 211200 SH SOLE 211200 Microsoft Corp Com COM 594918104 13286 373210 SH SOLE 373210 Morgan Stanley Com COM 617446448 12552 236340 SH SOLE 236340 Nucor Corp Com COM 670346105 10694 180580 SH SOLE 180580 Pepsico Inc Com COM 713448108 11847 156090 SH SOLE 156090 Pfizer Inc Com COM 717081103 9142 402185 SH SOLE 402185 Procter & Gamble Co Com COM 742718109 13126 178786 SH SOLE 178786 Qualcomm Inc Com COM 747525103 10905 277130 SH SOLE 277130 Royal Dutch Shell Plc Spons AD COM 780259206 867 10300 SH SOLE 10300 Schlumberger Ltd Com COM 806857108 12033 122325 SH SOLE 122325 Staples Inc Com COM 855030102 11929 517100 SH SOLE 517100 Stryker Corp Com COM 863667101 13523 180980 SH SOLE 180980 Time Warner Inc Com COM 887317105 9231 559125 SH SOLE 559125 US Bancorp DE Com COM 902973304 10839 341500 SH SOLE 341500 Unilever NV NY COM 904784709 14200 389470 SH SOLE 389470 Union Pac Corp Com COM 907818108 13890 110570 SH SOLE 110570 Valero Energy Corp Com COM 91913Y100 581 8300 SH SOLE 8300 Verizon Communications Com COM 92343V104 12496 286006 SH SOLE 286006 Wal-Mart Stores Inc Com COM 931142103 10329 217320 SH SOLE 217320 Walgreen Co Com COM 931422109 11289 296450 SH SOLE 296450