Aqueous dispersions of pristine and functionalized (COOH- and $NH_2$-) multi-walled, carbon nanotubes (MWNTs) were prepared by using three types of surf act ants: sodium dodecyl sulfate (SDS, anionic), PEO-PPO-PEO (Pluronic P84, non-ionic), and poly(styrene/$alpha-methyl$ styrene/acrylic acid) random terpolymer, i.e., alkali-soluble resin (ASR). The aggregate size, $zeta-potential$, and storage stability of the MWNT aqueous dispersions were investigated by using dynamic light scattering and the turbidity method at room temperature. The exfoliation of the MWNT aggregates was determined by a UV-visible spectrophotometer and the morphology of the surfactant-coated MWNTs was observed by transmission electron microscopy (TEM). In all cases, ASR showed better dispersion stability with the smallest aggregate size, compared with the other surfactants, because of its unique molecular structure, i.e., randomly incorporated carboxylic acid groups and planar phenyl groups that can be irreversibly and effectively adsorbed on the MWNT surface. A predominantly-exfoliated morphology of MWNTs was observed in the presence of ASR from the strong intensity of the UV-vis spectrum at 263 nm.