AIC

Argus Investors Counsel Portfolio holdings

AUM $141M

1-Year Return 24.01%

2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q4 2019 Q3 2019 Q2 2019 Q1 2018 Q4 2018 Q3 2018 Q2 2018 Q1 2017 Q4 2017 Q3 2017 Q2 2017 Q1 2016 Q4 2016 Q3 2016 Q2 2016 Q1 2015 Q4 2015 Q3 2015 Q2 2015 Q1 2014 Q4 2014 Q3 2014 Q2 2014 Q1 2013 Q4 2013 Q3 2013 Q2

This Quarter Return

+3.51%

1 Year Return

+24.01%

3 Year Return

+103.01%

5 Year Return

+160.47%

10 Year Return

+334.88%

AUM

$230M

AUM Growth

–

Cap. Flow

+$230M

Cap. Flow % of AUM

100%

Top 10 Holdings % Top 10 Hldgs %

21.87%

Holding

New

Increased

–

Reduced

–

Closed

–

Top Buys

1	Microsoft MSFT	+$5.2M
2	Union Pacific UNP	+$5.19M
3	Alphabet (Google) Class C GOOG	+$5.11M
4	American Express AXP	+$5.07M
5	Johnson & Johnson JNJ	+$5M

Top Sells

No sells this quarter

Sector Composition

1	Industrials	17.94%
2	Technology	15.83%
3	Consumer Staples	12.28%
4	Healthcare	12.22%
5	Financials	10.26%

Communication Services

Advertising Agencies

Broadcasting

Electronic Gaming & Multimedia

Entertainment

Internet Content & Information

Publishing

Telecom Services

Consumer Discretionary

Apparel Manufacturing

Apparel Retail

Auto Manufacturers

Auto Parts

Auto & Truck Dealerships

Department Stores

Footwear & Accessories

Furnishings, Fixtures & Appliances

Gambling

Home Improvement Retail

Internet Retail

Leisure

Lodging

Luxury Goods

Packaging & Containers

Personal Services

Recreational Vehicles

Residential Construction

Resorts & Casinos

Restaurants

Specialty Retail

Textile Manufacturing

Travel Services

Consumer Staples

Beverages - Brewers

Beverages - Non-Alcoholic

Beverages - Wineries & Distilleries

Confectioners

Discount Stores

Education & Training Services

Farm Products

Food Distribution

Grocery Stores

Household & Personal Products

Packaged Foods

Tobacco

Energy

Oil & Gas Drilling

Oil & Gas Equipment & Services

Oil & Gas Exploration & Production

Oil & Gas Integrated

Oil & Gas Midstream

Oil & Gas Refining & Marketing

Thermal Coal

Uranium

Financials

Asset Management

Banks - Diversified

Banks - Regional

Capital Markets

Credit Services

Diversified Insurance

Financial Conglomerates

Financial Data & Stock Exchanges

Insurance Brokers

Life Insurance

Mortgage Finance

Property & Casualty Insurance

Reinsurance

Shell Companies

Specialty - Insurance

Healthcare

Biotechnology

Diagnostics & Research

Drug Manufacturers - General

Drug Manufacturers - Specialty & Generic

Healthcare Plans

Health Information Services

Medical Care Facilities

Medical Devices

Medical Distribution

Medical Instruments & Supplies

Pharmaceutical Retailers

Industrials

Aerospace & Defense

Airlines

Airports & Air Services

Building Products & Equipment

Business Equipment & Supplies

Conglomerates

Consulting Services

Electrical Equipment & Parts

Engineering & Construction

Farm & Heavy Construction Machinery

Industrial Distribution

Infrastructure Operations

Integrated Freight & Logistics

Marine Shipping

Metal Fabrication

Pollution & Treatment Controls

Railroads

Rental & Leasing Services

Security & Protection Services

Specialty Business Services

Specialty Industrial Machinery

Staffing & Employment Services

Tools & Accessories

Trucking

Waste Management

Materials

Agricultural Inputs

Aluminum

Building Materials

Chemicals

Coking Coal

Copper

Gold

Lumber & Wood Production

Other Industrial Metals & Mining

Other Precious Metals & Mining

Paper & Paper Products

Silver

Specialty Chemicals

Steel

Real Estate

Diversified REIT

Healthcare Facilities REIT

Hotel & Motel REIT

Industrial REIT

Mortgage REIT

Office REIT

Real Estate Development

Real Estate Diversified

Real Estate Services

Residential REIT

Retail REIT

Specialty REIT

Technology

Communication Equipment

Computer Hardware

Consumer Electronics

Electronic Components

Electronics & Computer Distribution

Information Technology Services

Scientific & Technical Instruments

Semiconductor Equipment & Materials

Semiconductors

Software - Application

Software - Infrastructure

Solar

Utilities

Diversified Utilities

Electric Utilities

Gas Utilities

Independent Power Producers

Renewable Electricity

Water Utilities

#	Name	Market Value	Portfolio Weight	Shares or Principal	Shares Change %	Capital Flow
26	26 Archer Daniels Midland ADM $29.5B	$4.63M	2.01%	+136,574	New	+$4.63M
27	27 Pfizer PFE $141B	$4.63M	2.01%	+174,216	New	+$4.63M
28	SPLS 28 DELISTED Staples Inc SPLS	$4.62M	2.01%	+290,980	New	+$4.62M
29	29 Intel INTC $115B	$4.59M	2%	+189,457	New	+$4.59M
30	CB 30 DELISTED CHUBB CORPORATION CB	$4.57M	1.99%	+53,980	New	+$4.57M
31	31 FedEx FDX $53.3B	$4.57M	1.99%	+46,335	New	+$4.57M
32	32 Costco COST $424B	$4.56M	1.99%	+41,274	New	+$4.56M
33	33 Walmart WMT $818B	$4.55M	1.98%	+183,324	New	+$4.55M
34	34 Tapestry TPR $22.2B	$4.5M	1.96%	+78,883	New	+$4.5M
35	35 Exxon Mobil XOM $478B	$4.45M	1.94%	+49,232	New	+$4.45M
36	36 JPMorgan Chase JPM $840B	$4.44M	1.93%	+84,025	New	+$4.44M
37	37 Nucor NUE $32.6B	$4.42M	1.92%	+102,119	New	+$4.42M
38	38 International Paper IP $24.6B	$4.33M	1.88%	+104,685	New	+$4.33M
39	39 Air Products & Chemicals APD $65.5B	$4.3M	1.87%	+50,796	New	+$4.3M
40	40 Corning GLW $64.6B	$4.3M	1.87%	+302,325	New	+$4.3M
41	41 Caterpillar CAT $198B	$4.28M	1.86%	+51,939	New	+$4.28M
42	42 GE Aerospace GE $301B	$4.24M	1.85%	+38,177	New	+$4.24M
43	43 Stryker SYK $146B	$4.23M	1.84%	+65,418	New	+$4.23M
44	44 Apple AAPL $3.41T	$4.18M	1.82%	+294,896	New	+$4.18M
45	45 IBM IBM $239B	$4.15M	1.81%	+22,720	New	+$4.15M
46	46 Qualcomm QCOM $174B	$4.12M	1.79%	+67,405	New	+$4.12M
47	UN 47 DELISTED Unilever NV New York Registry Shares UN	$3.96M	1.72%	+100,770	New	+$3.96M
48	48 Schlumberger SLB $53.8B	$3.8M	1.65%	+53,052	New	+$3.8M
49	49 Emerson Electric EMR $75.2B	$3.8M	1.65%	+69,660	New	+$3.8M
50	50 Alcoa AA $8.36B	$3.64M	1.58%	+193,716	New	+$3.64M