ARGUS INVESTORS' COUNSEL, INC.

The portfolio consists of 105 holdings, indicating a diversified approach. The firm manages a concentration risk that is moderate; the top 10 positions account for approximately 33.7% of the total portfolio value, with the largest individual position (Nvidia) representing 4.53%. This suggests a "core-satellite" or diversified growth strategy where the manager is willing to take meaningful positions in high-conviction names while maintaining a broad base of investments to mitigate idiosyncratic risk.

2. Key Holdings