Godshalk Welsh Capital Management, Inc.

In its 13F for Q2 2026 (holdings as of June 30, 2026, filed August 14, 2026), Godshalk Welsh Capital Management, Inc. reported 137 stock positions worth $185.6 million. Its top holding was Apple (AAPL) at 5.0% of the portfolio, followed by Microsoft (MSFT, 4.0%) and Alphabet Class A (GOOGL, 3.4%). Compared with Q1 2026, it opened 9 new positions, sold out of 2, added to 32 and reduced 34. The biggest buy was a new position in Intel (INTC) and the biggest sale Intuit (INTU, shares −10%).

Most Recent 13F
Q2 2026
Location
RADNOR, PA
CIK
0001631775
Portfolio Value
$185.6M (Q2 2026)
SEC Filing
0001631775-26-000003 ↗ filed Aug 14, 2026

Holdings Value

0$50.0M$100.0M$150.0M$200.0M Q1 2024: $148.8M Q1 2024 Q2 2024: $150.0M Q2 2024 Q3 2024: $158.2M Q3 2024 Q4 2024: $154.9M Q4 2024 Q1 2025: $152.9M Q1 2025 Q2 2025: $162.3M Q2 2025 Q3 2025: $174.3M Q3 2025 Q4 2025: $175.1M Q4 2025 Q1 2026: $172.5M Q1 2026 Q2 2026: $185.6M $185.6M Q2 2026

Holdings 137 stocks · $185.6M
AAPL Apple Inc. 5.02% 32,177 $9.3M Reduce -0.4%
MSFT Microsoft Corp. 3.96% 19,725 $7.4M Reduce -0.5%
GOOGL Alphabet Inc. Class A 3.42% 17,769 $6.4M Reduce -0.6%
COST Costco Wholesale Corp. 2.86% 5,674 $5.3M Add +0.4%
BRK.B Berkshire Hathaway Inc. Class B 2.38% 8,813 $4.4M Reduce -2.4%
ORCL Oracle Corp. 2.32% 29,360 $4.3M Reduce -0.3%
CSCO Cisco Systems Inc. 2.30% 36,395 $4.3M Reduce -1.8%
GOOG Alphabet Inc. Class C 2.16% 11,340 $4.0M No change
IWM iShares Russell 2000 ETF 2.06% 12,720 $3.8M Reduce -0.0%
IBDT iShares Ibonds Dec 2028 ETF 1.97% 144,850 $3.7M Add +4.3%
AXP American Express Co. 1.96% 10,745 $3.6M Add +0.3%
GLW Corning Inc. 1.84% 13,350 $3.4M Reduce -0.6%
RSP Invesco S&P 500 Equal Weight 1.74% 15,205 $3.2M Add +1.2%
WRB WR Berkley Corp. filed as BERKLEY W R CORP 1.72% 45,158 $3.2M No change
IBDU iShares Ibonds Dec 2029 Term 1.71% 136,800 $3.2M Add +3.0%
GMED Globus Medical Inc. Class A 1.70% 40,000 $3.2M No change
JPM JPMorgan Chase & Co. 1.65% 9,370 $3.1M Reduce -1.3%
IBDS Ishrs Ibnds Dec 27 Corp. ETF 1.65% 126,585 $3.1M Add +1.0%
JNJ Johnson & Johnson 1.60% 11,701 $3.0M Reduce -0.8%
IEFA iShares Core MSCI Eafe ETF 1.45% 27,845 $2.7M Reduce -0.5%
BAC Bank of America Corp. 1.35% 43,870 $2.5M Reduce -0.5%
FDVV Fidelity High Dividend ETF 1.34% 41,104 $2.5M Add +3.0%
IBDV iShares Ibonds Dec 2030 Corp. 1.20% 101,850 $2.2M Add +7.1%
IBDR iShares Ibonds Dec 2026 Term 1.18% 90,125 $2.2M Add +0.1%
TCAF T Rowe PRC Cap Appreciation 1.14% 51,500 $2.1M Add +5.4%
PG The Procter & Gamble Co. 1.13% 14,345 $2.1M No change
HD Home Depot Inc. 1.07% 5,614 $2.0M Reduce -0.1%
TSM Taiwan Semiconductor-SP ADR 1.05% 4,065 $1.9M Reduce -0.6%
TJX TJX Companies Inc. filed as TJX COS INC NEW 1.03% 12,565 $1.9M Add +0.8%
SYY Sysco Corp. 1.01% 22,500 $1.9M Reduce -0.7%
VLO Valero Energy Corp. 1.01% 7,200 $1.9M Reduce -0.7%
WM Waste Management Inc. 1.00% 8,355 $1.9M Reduce -1.2%
ADP Automatic Data Processing 0.96% 7,975 $1.8M No change
INTU Intuit Inc. 0.94% 6,670 $1.7M Reduce -9.7%
CVX Chevron Corp. 0.94% 10,475 $1.7M No change
LOW Lowe's Cos Inc. 0.89% 7,480 $1.6M No change
PAYX Paychex Inc. 0.88% 16,655 $1.6M No change
WMT Walmart Inc. 0.84% 13,835 $1.6M Add +1.5%
RTX RTX Corp. 0.82% 8,021 $1.5M Reduce -0.6%
MRK Merck & Co. Inc. 0.81% 11,735 $1.5M Reduce -0.4%
VIG Vanguard Dividend Apprec ETF 0.79% 6,234 $1.5M Reduce -6.0%
IBDW iShares Ibonds Dec 2031 Corp. 0.77% 68,550 $1.4M Add +10.5%
SPY SS SPDR S&P 500 ETF Trust-US 0.75% 1,875 $1.4M No change
SBUX Starbucks Corp. 0.75% 13,610 $1.4M No change
SUB iShares Short-Term National 0.74% 12,850 $1.4M Reduce -1.5%
AOM iShares Core 40/60 Moderate 0.73% 27,229 $1.4M Add +0.0%
ECL Ecolab Inc. 0.73% 4,860 $1.4M No change
ABBV Abbvie Inc. 0.70% 5,181 $1.3M No change
V Visa Inc. Class A 0.69% 3,745 $1.3M No change
IBMQ iShares Ibonds Dec 2028 Muni 0.68% 49,500 $1.3M Add +5.3%
IBMR iShares Ibonds Dec 2029 M BD 0.66% 48,500 $1.2M Add +5.4%
MUB iShares National Muni Bond E 0.66% 11,350 $1.2M Reduce -1.7%
CSX CSX Corp. 0.66% 25,640 $1.2M Reduce -1.0%
PSX Phillips 66 0.65% 7,100 $1.2M No change
BX Blackstone Inc. 0.62% 9,780 $1.2M Reduce -2.3%
IBMP iShares Ibonds Dec 2027 Term 0.62% 45,000 $1.1M Add +5.9%
PEP Pepsico Inc. 0.61% 8,325 $1.1M Reduce -0.9%
MCD McDonald's Corp. 0.60% 4,110 $1.1M No change
IDA Idacorp Inc. 0.60% 7,336 $1.1M No change
IBMS ISHARESIBONDDEC2030MUNIBDETF 0.59% 42,500 $1.1M Add +32.8%
IWY iShares Russell Top 200 Grow 0.57% 3,609 $1.0M No change
IBMO iShares Ibonds Dec 2026 Term 0.56% 40,500 $1.0M Add +8.0%
BDX Becton Dickinson and Co. 0.56% 6,845 $1.0M Add +1.9%
LHX L3HARRIS Technologies Inc. 0.54% 3,435 $998K No change
YUM Yum! Brands Inc. 0.51% 5,935 $949K No change
RPM RPM International Inc. 0.50% 8,355 $929K No change
UBER Uber Technologies Inc. 0.50% 12,800 $924K No change
NOK Nokia Corp.-Spon ADR 0.50% 1,275 $922K No change
COP Conocophillips 0.49% 8,680 $902K No change
QQQ Invesco QQQ Trust Series 1 0.45% 1,135 $836K No change
UNH Unitedhealth Group Inc. 0.44% 1,945 $808K No change
NEE Nextera Energy Inc. 0.43% 9,110 $800K Reduce -0.6%
IUSG iShares Core S&P U.S. Growth 0.43% 4,215 $793K Reduce -0.9%
VNQ Vanguard Real Estate ETF 0.43% 8,185 $789K Add +1.2%
CI Cigna Holding Co. filed as THE CIGNA GROUP 0.39% 2,655 $732K No change
SOLS Solstice Adv Materials Inc. 0.39% 8,088 $717K No change
DGX Quest Diagnostics Inc. 0.37% 3,275 $694K No change
WAT Waters Corp. 0.36% 1,781 $668K Add +7.0%
AOR iShares Core 60/40 Balanced 0.36% 9,594 $667K Add +0.0%
CL Colgate-Palmolive Co. 0.35% 7,010 $643K No change
SPHY SS SPDR P High Yield ETF 0.33% 26,500 $621K Add +0.9%
MMM 3M Co. 0.33% 3,760 $609K No change
AMT American Tower Corp. 0.32% 3,630 $594K Reduce -22.6%
EEMV iShares MSCI Emg MKT Min Vol 0.32% 7,800 $587K No change
MDLZ Mondelez International Inc. Class A 0.31% 9,875 $571K Reduce -2.0%
ZTS Zoetis Inc. 0.31% 7,910 $568K Add +1.0%
LMT Lockheed Martin Corp. 0.30% 1,100 $560K No change
VTI VG Morningstar TS MKT ETF-US 0.30% 1,493 $553K Add +48.4%
IBMT iShares Ibonds Dec 2031 Muni 0.29% 21,000 $542K Add +23.5%
WCN Waste Connections Inc. 0.28% 3,170 $528K No change
MA Mastercard Inc. Class A 0.27% 960 $493K No change
EBAY eBay Inc. 0.26% 4,300 $481K No change
AMGN Amgen Inc. 0.25% 1,285 $465K No change
ED Consolidated Edison Inc. 0.24% 4,025 $445K No change
MET Metlife Inc. 0.24% 5,250 $444K Reduce -2.8%
CAVA Cava Group Inc. 0.24% 5,625 $441K Add +1.8%
LH Laboratory CRP of Amer Hldgs filed as LABCORP HOLDINGS INC. 0.24% 1,570 $440K No change
WTRG Essential Utilities Inc. 0.24% 11,436 $438K No change
EFA iShares MSCI Eafe ETF 0.22% 4,000 $416K No change
VGT Vanguard Info Tech ETF 0.22% 3,440 $411K No change

Show all 137 holdings

Portfolio Sells Q1 2026 → Q2 2026
INTU Intuit Inc. Reduce -9.7% 0.94% −0.91
MSFT Microsoft Corp. Reduce -0.5% 3.96% −0.29
HON Honeywell International Inc. Reduce -50.0% 0.18% −0.22
ORCL Oracle Corp. Reduce -0.3% 2.32% −0.19
AMT American Tower Corp. Reduce -22.6% 0.32% −0.15
PEP Pepsico Inc. Reduce -0.9% 0.61% −0.15
BRK.B Berkshire Hathaway Inc. Class B Reduce -2.4% 2.38% −0.13
HSY The Hershey Co. Sold out 0.00% −0.13
VZ Verizon Communications Inc. Sold out 0.00% −0.13
WM Waste Management Inc. Reduce -1.2% 1.00% −0.12
RTX RTX Corp. Reduce -0.6% 0.82% −0.08
JNJ Johnson & Johnson Reduce -0.8% 1.60% −0.07
SUB iShares Short-Term National Reduce -1.5% 0.74% −0.07
NEE Nextera Energy Inc. Reduce -0.6% 0.43% −0.06
MUB iShares National Muni Bond E Reduce -1.7% 0.66% −0.05
BX Blackstone Inc. Reduce -2.3% 0.62% −0.05
VIG Vanguard Dividend Apprec ETF Reduce -6.0% 0.79% −0.03
MDLZ Mondelez International Inc. Class A Reduce -2.0% 0.31% −0.03
VLO Valero Energy Corp. Reduce -0.7% 1.01% −0.03
IEFA iShares Core MSCI Eafe ETF Reduce -0.5% 1.45% −0.02
HONA Honeywell Aerospace Inc. Reduce -0.1% 0.18% −0.01
MRK Merck & Co. Inc. Reduce -0.4% 0.81% −0.01
HD Home Depot Inc. Reduce -0.1% 1.07% −0.00
TGT Target Corp. Reduce -1.7% 0.21% −0.00
MET Metlife Inc. Reduce -2.8% 0.24% +0.02
JPM JPMorgan Chase & Co. Reduce -1.3% 1.65% +0.03
CSX CSX Corp. Reduce -1.0% 0.66% +0.04
IUSG iShares Core S&P U.S. Growth Reduce -0.9% 0.43% +0.04
SYY Sysco Corp. Reduce -0.7% 1.01% +0.08
BAC Bank of America Corp. Reduce -0.5% 1.35% +0.10
IWM iShares Russell 2000 ETF Reduce -0.0% 2.06% +0.23
TSM Taiwan Semiconductor-SP ADR Reduce -0.6% 1.05% +0.24
AAPL Apple Inc. Reduce -0.4% 5.02% +0.26
GOOGL Alphabet Inc. Class A Reduce -0.6% 3.42% +0.44
CSCO Cisco Systems Inc. Reduce -1.8% 2.30% +0.64
GLW Corning Inc. Reduce -0.6% 1.84% +0.78

Portfolio Buys Q1 2026 → Q2 2026
INTC Intel Corp. New 0.17% +0.17
LLY Eli Lilly & Co. New 0.14% +0.14
TCAF T Rowe PRC Cap Appreciation Add +5.4% 1.14% +0.13
ELV Elevance Health Inc. New 0.13% +0.13
CARR Carrier Global Corp. New 0.13% +0.13
VIOG Vanguard S&P SM Cap 600 GRW New 0.12% +0.12
FRAF Franklin Financial Services New 0.12% +0.12
GWW WW Grainger Inc. New 0.12% +0.12
CAT Caterpillar Inc. New 0.11% +0.11
IBMS ISHARESIBONDDEC2030MUNIBDETF Add +32.8% 0.59% +0.11
VTI VG Morningstar TS MKT ETF-US Add +48.4% 0.30% +0.11
EMR Emerson Electric Co. New 0.11% +0.11
AXP American Express Co. Add +0.3% 1.96% +0.08
WAT Waters Corp. Add +7.0% 0.36% +0.07
RSP Invesco S&P 500 Equal Weight Add +1.2% 1.74% +0.07
FDVV Fidelity High Dividend ETF Add +3.0% 1.34% +0.06
IBMT iShares Ibonds Dec 2031 Muni Add +23.5% 0.29% +0.04
IBDW iShares Ibonds Dec 2031 Corp. Add +10.5% 0.77% +0.02
ABNB Airbnb Inc. Class A Add +4.4% 0.18% +0.02
COF Capital One Financial Corp. Add +7.5% 0.16% +0.01
VNQ Vanguard Real Estate ETF Add +1.2% 0.43% +0.01
IBMO iShares Ibonds Dec 2026 Term Add +8.0% 0.56% +0.00
AOR iShares Core 60/40 Balanced Add +0.0% 0.36% +0.00
IBMP iShares Ibonds Dec 2027 Term Add +5.9% 0.62% −0.01
IBDV iShares Ibonds Dec 2030 Corp. Add +7.1% 1.20% −0.01
BSV Vanguard Short-Term Bond ETF Add +0.3% 0.14% −0.01
BIV Vanguard Intermediate-Term B Add +0.2% 0.15% −0.01
IBMR iShares Ibonds Dec 2029 M BD Add +5.4% 0.66% −0.01
IBMQ iShares Ibonds Dec 2028 Muni Add +5.3% 0.68% −0.01
AOM iShares Core 40/60 Moderate Add +0.0% 0.73% −0.02
SPHY SS SPDR P High Yield ETF Add +0.9% 0.33% −0.02
CAVA Cava Group Inc. Add +1.8% 0.24% −0.02
BDX Becton Dickinson and Co. Add +1.9% 0.56% −0.05
IBDT iShares Ibonds Dec 2028 ETF Add +4.3% 1.97% −0.07
IBDU iShares Ibonds Dec 2029 Term Add +3.0% 1.71% −0.08
IBDR iShares Ibonds Dec 2026 Term Add +0.1% 1.18% −0.09
IBDS Ishrs Ibnds Dec 27 Corp. ETF Add +1.0% 1.65% −0.11
TJX TJX Companies Inc. Add +0.8% 1.03% −0.13
WMT Walmart Inc. Add +1.5% 0.84% −0.14
ZTS Zoetis Inc. Add +1.0% 0.31% −0.23
COST Costco Wholesale Corp. Add +0.4% 2.86% −0.40

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 137$185.6MAAPL, MSFT, GOOGL, COST, BRK.B
Q1 2026 129$172.5MAAPL, MSFT, COST, GOOGL, ORCL
Q4 2025 132$175.1MMSFT, AAPL, ORCL, GOOGL, INTU
Q3 2025 131$174.3MMSFT, AAPL, ORCL, COST, INTU
Q2 2025 130$162.3MMSFT, AAPL, ORCL, INTU, COST
Q1 2025 121$152.9MMSFT, AAPL, COST, BRK.B, INTU
Q4 2024 120$154.9MAAPL, MSFT, COST, ORCL, INTU
Q3 2024 124$158.2MMSFT, AAPL, COST, ORCL, INTU
Q2 2024 119$150.0MMSFT, AAPL, COST, INTU, ORCL
Q1 2024 121$148.8MMSFT, AAPL, INTU, COST, BRK.B