13F-HR 1 aic13f2qtr08.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, 2008 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 July 22, 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: 448 Form 13F information Table Value Total: 472439000 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 9036 129850 SH SOLE 129850 Abbott Labs Com COM 002824100 9089 171585 SH SOLE 171585 Air Prods & Chems Inc Com COM 009158106 12098 122375 SH SOLE 122375 Alcoa Inc Com COM 013817101 10755 301935 SH SOLE 301935 American Express Co Com COM 025816109 6910 183430 SH SOLE 183430 American Intl Group Com COM 026874107 4616 174435 SH SOLE 174435 Amgen Inc Com COM 031162100 8978 190375 SH SOLE 190375 Archer Daniels Midland Com COM 039483102 9733 288385 SH SOLE 288385 Automatic Data Process Com COM 053015103 9430 225055 SH SOLE 225055 Becton Dickinson & Co Com COM 075887109 11188 137610 SH SOLE 137610 Caterpillar Inc Del Com COM 149123101 11008 149125 SH SOLE 149125 Cisco Sys Inc Com COM 17275R102 9169 394190 SH SOLE 394190 Coca-Cola Co Com COM 191216100 858 16500 SH SOLE 16500 Dell Inc Com COM 24702R101 9364 427955 SH SOLE 427955 Disney Walt Co Com COM 254687106 9556 306280 SH SOLE 306280 Dow Chem Co Com COM 260543103 8755 250800 SH SOLE 250800 Emerson Elec Co Com COM 291011104 11088 224230 SH SOLE 224230 Exxon Mobil Corp Com COM 30231G102 11003 124848 SH SOLE 124848 Federal Natl Mtg Assn Com COM 313586109 5533 283620 SH SOLE 283620 Fedex Corp Com COM 31428X106 8190 103950 SH SOLE 103950 Gannett Inc Com COM 364730101 5604 258585 SH SOLE 258585 General Dynamics Corp Com COM 369550108 11786 139975 SH SOLE 139975 General Elec Co Com COM 369604103 7448 279066 SH SOLE 279066 Home Depot Inc Com COM 437076102 7669 327470 SH SOLE 327470 Illinois Tool Wks Inc Com COM 452308109 9429 198465 SH SOLE 198465 Ingersoll-Rand Company Cl A COM G4776G101 8609 230005 SH SOLE 230005 Intel Corp Com COM 458140100 10476 487700 SH SOLE 487700 International Bus Mach Com COM 459200101 13047 110070 SH SOLE 110070 International Paper Co Com COM 460146103 6912 296635 SH SOLE 296635 JP Morgan Chase & Co Com COM 46625H100 632 18433 SH SOLE 18433 Johnson & Johnson Com COM 478160104 10862 168815 SH SOLE 168815 Kimberly Clark Corp Com COM 494368103 9376 156835 SH SOLE 156835 McDonalds Corp Com COM 580135101 12560 223405 SH SOLE 223405 McGraw-Hill Cos Inc COM 580645109 8144 203000 SH SOLE 203000 Microsoft Corp Com COM 594918104 9356 340110 SH SOLE 340110 Morgan Stanley Com COM 617446448 7904 219140 SH SOLE 219140 Nucor Corp Com COM 670346105 12246 164000 SH SOLE 164000 Pepsico Inc Com COM 713448108 9366 147290 SH SOLE 147290 Pfizer Inc Com COM 717081103 6962 398485 SH SOLE 398485 Procter & Gamble Co Com COM 742718109 10258 168686 SH SOLE 168686 Qualcomm Inc Com COM 747525103 11234 253180 SH SOLE 253180 Royal Dutch Shell Plc Spons AD COM 780259206 842 10300 SH SOLE 10300 Schlumberger Ltd Com COM 806857108 12121 112825 SH SOLE 112825 Staples Inc Com COM 855030102 11478 483300 SH SOLE 483300 Stryker Corp Com COM 863667101 10528 167430 SH SOLE 167430 Time Warner Inc Com COM 887317105 7680 518925 SH SOLE 518925 US Bancorp DE Com COM 902973304 9014 323200 SH SOLE 323200 Unilever NV NY COM 904784709 9970 351070 SH SOLE 351070 Union Pac Corp Com COM 907818108 14884 197140 SH SOLE 197140 Valero Energy Corp Com COM 91913Y100 432 10500 SH SOLE 10500 Verizon Communications Com COM 92343V104 9080 256506 SH SOLE 256506 Wal-Mart Stores Inc Com COM 931142103 11221 199670 SH SOLE 199670 Walgreen Co Com COM 931422109 8952 275350 SH SOLE 275350