Godshalk Welsh Capital Management, Inc.

In its 13F for Q2 2024 (holdings as of June 30, 2024, filed August 13, 2024), Godshalk Welsh Capital Management, Inc. reported 119 stock positions worth $150.0 million. Its top holding was Microsoft (MSFT) at 7.0% of the portfolio, followed by Apple (AAPL, 5.6%) and Costco Wholesale (COST, 3.8%). Compared with Q1 2024, it opened 4 new positions, sold out of 6, added to 27 and reduced 46. The biggest buy was a new position in Invesco QQQ Trust and the biggest sale an exit from CVS Health (CVS).

Most Recent 13F
Q2 2026
Location
RADNOR, PA
CIK
0001631775
Portfolio Value
$150.0M (Q2 2024)
SEC Filing
0001631775-24-000003 ↗ filed Aug 13, 2024

Holdings Value

0$50.0M$100.0M$150.0M$200.0M Q1 2024: $148.8M Q1 2024 Q2 2024: $150.0M $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 Q2 2026

Holdings 119 stocks · $150.0M
MSFT Microsoft Corp. 7.04% 23,622 $10.6M Reduce -1.7%
AAPL Apple Inc. 5.64% 40,131 $8.5M Reduce -0.7%
COST Costco Wholesale Corp. 3.81% 6,719 $5.7M Reduce -1.1%
INTU Intuit Inc. 3.55% 8,100 $5.3M Add +0.3%
ORCL Oracle Corp. 3.10% 32,970 $4.7M Reduce -0.8%
GMED Globus Medical Inc. Class A 3.03% 66,445 $4.6M Reduce -6.5%
BRK.B Berkshire Hathaway Inc. Class B 2.84% 10,488 $4.3M Add +0.9%
GOOGL Alphabet Inc. Class A 2.53% 20,840 $3.8M Reduce -0.4%
AXP American Express Co. 1.95% 12,613 $2.9M Reduce -1.9%
WRB WR Berkley Corp. filed as BERKLEY W R CORP 1.77% 33,704 $2.6M Reduce -0.6%
PG The Procter & Gamble Co. 1.71% 15,535 $2.6M Add +1.2%
IWM iShares Russell 2000 ETF 1.70% 12,561 $2.5M Add +0.8%
MRK Merck & Co. Inc. 1.67% 20,223 $2.5M Reduce -1.5%
RSP Invesco S&P 500 Equal Weight 1.57% 14,336 $2.4M Reduce -2.4%
GOOG Alphabet Inc. Class C 1.54% 12,575 $2.3M Reduce -0.8%
PAYX Paychex Inc. 1.43% 18,115 $2.1M Reduce -0.3%
JPM JPMorgan Chase & Co. 1.42% 10,545 $2.1M Reduce -1.0%
HD Home Depot Inc. 1.42% 6,189 $2.1M Reduce -0.4%
WM Waste Management Inc. 1.31% 9,220 $2.0M Reduce -0.3%
LOW Lowe's Cos Inc. 1.29% 8,800 $1.9M Reduce -3.9%
ADP Automatic Data Processing 1.28% 8,059 $1.9M Add +0.3%
IEFA iShares Core MSCI Eafe ETF 1.27% 26,176 $1.9M Add +0.2%
BAC Bank of America Corp. filed as BANK AMERICA CORP 1.25% 47,145 $1.9M Reduce -1.6%
CSCO Cisco Systems Inc. 1.24% 39,287 $1.9M Reduce -0.7%
JNJ Johnson & Johnson 1.21% 12,446 $1.8M Add +2.0%
CVX Chevron Corp. 1.17% 11,188 $1.8M Reduce -0.9%
SYY Sysco Corp. 1.11% 23,413 $1.7M No change
PEP Pepsico Inc. 1.05% 9,530 $1.6M Add +0.3%
ZTS Zoetis Inc. 1.03% 8,940 $1.5M No change
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.96% 13,025 $1.4M Reduce -0.6%
UPS United Parcel Service Class B 0.89% 9,737 $1.3M No change
VIG Vanguard Dividend Apprec ETF 0.88% 7,223 $1.3M Reduce -5.9%
BDX Becton Dickinson and Co. 0.88% 5,630 $1.3M Add +2.3%
BX Blackstone Inc. 0.86% 10,380 $1.3M Reduce -0.5%
AMT American Tower Corp. 0.82% 6,360 $1.2M No change
ECL Ecolab Inc. 0.82% 5,170 $1.2M No change
TGT Target Corp. 0.81% 8,170 $1.2M No change
UNH Unitedhealth Group Inc. 0.79% 2,335 $1.2M No change
VLO Valero Energy Corp. 0.78% 7,425 $1.2M No change
FDVV Fidelity High Dividend ETF 0.78% 24,860 $1.2M Add +10.6%
MCD McDonald's Corp. 0.77% 4,525 $1.2M Reduce -4.4%
V Visa Inc. Class A 0.73% 4,159 $1.1M No change
SBUX Starbucks Corp. 0.73% 13,985 $1.1M Reduce -10.1%
SUB iShares Short-Term National 0.72% 10,350 $1.1M Add +1.5%
PSX Phillips 66 0.72% 7,625 $1.1M Reduce -1.9%
CI Cigna Holding Co. filed as CIGNA CORP 0.69% 3,150 $1.0M No change
SPY SS SPDR S&P 500 ETF Trust-US 0.68% 1,875 $1.0M No change
MDLZ Mondelez International Inc. Class A 0.67% 15,312 $1.0M No change
COP Conocophillips 0.67% 8,751 $1.0M Add +1.2%
ABBV Abbvie Inc. 0.65% 5,681 $974K No change
WTRG Essential Utilities Inc. 0.65% 26,036 $972K Reduce -5.6%
RPM RPM International Inc. 0.62% 8,655 $932K No change
RTX RTX Corp. 0.62% 9,276 $931K Add +2.2%
WMT Walmart Inc. 0.60% 13,370 $905K Reduce -0.7%
CSX CSX Corp. 0.60% 26,890 $899K Reduce -2.9%
TCAF T Rowe PRC Cap Appreciation 0.59% 27,975 $879K Add +13.7%
YUM Yum! Brands Inc. 0.57% 6,495 $860K Reduce -1.5%
NEE Nextera Energy Inc. 0.55% 11,750 $832K Reduce -1.3%
WOW Wideopenwest Inc. 0.54% 150,398 $814K Reduce -10.4%
CMCSA Comcast Corp. Class A 0.53% 20,230 $792K Reduce -14.9%
AOM iShares Core 40/60 Moderate 0.52% 17,964 $773K Add +0.3%
LHX L3HARRIS Technologies Inc. 0.52% 3,440 $773K Reduce -1.4%
MUB iShares National Muni Bond E 0.50% 7,100 $757K Add +11.8%
IBDR iShares Ibonds Dec 2026 Term 0.49% 30,750 $732K Add +57.7%
CL Colgate-Palmolive Co. 0.48% 7,425 $721K No change
IWY iShares Russell Top 200 Grow 0.48% 3,335 $715K Reduce -2.2%
IDA Idacorp Inc. 0.46% 7,336 $683K No change
TSM Taiwan Semiconductor-SP ADR 0.45% 3,855 $670K Add +38.2%
UBER Uber Technologies Inc. 0.45% 9,200 $669K No change
Invesco QQQ Trust 0.44% 1,385 $664K New
VNQ Vanguard Real Estate ETF 0.43% 7,785 $652K Reduce -7.4%
WCN Waste Connections Inc. 0.42% 3,635 $637K No change
PGX Invesco Preferred ETF 0.41% 53,400 $617K Reduce -1.1%
IBDS Ishrs Ibnds Dec 27 Corp. ETF 0.40% 25,349 $602K Add +120.4%
IUSG iShares Core S&P U.S. Growth 0.39% 4,615 $588K No change
DD Dupont DE Nemours Inc. 0.39% 7,224 $581K Reduce -1.4%
AWK American Water Works Co. Inc. 0.38% 4,405 $569K No change
IBDQ iShares Ibonds Dec 2025 Term 0.37% 22,450 $558K Add +31.7%
AOR iShares Core 60/40 Balanced 0.35% 9,298 $524K Add +0.0%
LMT Lockheed Martin Corp. 0.34% 1,100 $514K No change
CAVA Cava Group Inc. 0.33% 5,375 $499K No change
DGX Quest Diagnostics Inc. 0.31% 3,400 $465K Reduce -5.6%
BSV Vanguard Short-Term Bond ETF 0.30% 5,843 $448K Reduce -10.4%
MMM 3M Co. 0.29% 4,310 $440K Add +15.4%
ED Consolidated Edison Inc. 0.29% 4,875 $436K Reduce -1.5%
MAS Masco Corp. 0.28% 6,400 $427K No change
MET Metlife Inc. 0.28% 6,000 $421K No change
SPHY SS SPDR P High Yield ETF 0.28% 18,000 $418K Add +2.9%
MA Mastercard Inc. Class A 0.27% 914 $403K No change
RSG Republic Services Inc. 0.25% 1,950 $379K Reduce -9.3%
EEMV iShares MSCI Emg MKT Min Vol 0.25% 6,600 $378K Add +17.9%
CLX Clorox Company 0.24% 2,625 $358K Reduce -3.7%
ELV Elevance Health Inc. 0.23% 650 $352K No change
ABT Abbott Laboratories 0.22% 3,182 $331K Reduce -3.0%
INTC Intel Corp. 0.22% 10,474 $324K Reduce -23.4%
LH Laboratory CRP of Amer Hldgs 0.21% 1,580 $322K No change
AMGN Amgen Inc. 0.21% 995 $311K Add +14.4%
GLW Corning Inc. 0.21% 7,950 $309K Reduce -7.6%
VCR Vanguard Consumer Discre ETF 0.21% 985 $308K No change
UNP Union Pacific Corp. 0.20% 1,325 $300K No change

Show all 119 holdings

Portfolio Sells Q1 2024 → Q2 2024
CVS CVS Health Corp. Sold out 0.00% −0.60
QQQ Invesco QQQ Trust Series 1 Sold out 0.00% −0.41
LOW Lowe's Cos Inc. Reduce -3.9% 1.29% −0.27
WRB WR Berkley Corp. Reduce -0.6% 1.77% −0.25
SBUX Starbucks Corp. Reduce -10.1% 0.73% −0.23
INTC Intel Corp. Reduce -23.4% 0.22% −0.19
HD Home Depot Inc. Reduce -0.4% 1.42% −0.18
CMCSA Comcast Corp. Class A Reduce -14.9% 0.53% −0.16
BMY Bristol-Myers Squibb Co. Sold out 0.00% −0.16
MRK Merck & Co. Inc. Reduce -1.5% 1.67% −0.15
GPC Genuine Parts Co. Sold out 0.00% −0.15
VZ Verizon Communications Inc. Sold out 0.00% −0.14
PSX Phillips 66 Reduce -1.9% 0.72% −0.14
ERIE Erie Indemnity Company Class A Sold out 0.00% −0.13
MCD McDonald's Corp. Reduce -4.4% 0.77% −0.13
RSP Invesco S&P 500 Equal Weight Reduce -2.4% 1.57% −0.10
CSX CSX Corp. Reduce -2.9% 0.60% −0.09
CSCO Cisco Systems Inc. Reduce -0.7% 1.24% −0.08
IGSB iShares 1-5Y Inv Grade Corp. Reduce -33.3% 0.13% −0.07
PAYX Paychex Inc. Reduce -0.3% 1.43% −0.07
BX Blackstone Inc. Reduce -0.5% 0.86% −0.06
VIG Vanguard Dividend Apprec ETF Reduce -5.9% 0.88% −0.06
VNQ Vanguard Real Estate ETF Reduce -7.4% 0.43% −0.05
CLX Clorox Company Reduce -3.7% 0.24% −0.04
YUM Yum! Brands Inc. Reduce -1.5% 0.57% −0.04
WTRG Essential Utilities Inc. Reduce -5.6% 0.65% −0.04
BSV Vanguard Short-Term Bond ETF Reduce -10.4% 0.30% −0.04
ABT Abbott Laboratories Reduce -3.0% 0.22% −0.03
CVX Chevron Corp. Reduce -0.9% 1.17% −0.03
RSG Republic Services Inc. Reduce -9.3% 0.25% −0.02
AXP American Express Co. Reduce -1.9% 1.95% −0.02
PGX Invesco Preferred ETF Reduce -1.1% 0.41% −0.02
WM Waste Management Inc. Reduce -0.3% 1.31% −0.01
DGX Quest Diagnostics Inc. Reduce -5.6% 0.31% −0.01
ED Consolidated Edison Inc. Reduce -1.5% 0.29% −0.01
JPM JPMorgan Chase & Co. Reduce -1.0% 1.42% −0.01
DD Dupont DE Nemours Inc. Reduce -1.4% 0.39% +0.01
LHX L3HARRIS Technologies Inc. Reduce -1.4% 0.52% +0.02
GLW Corning Inc. Reduce -7.6% 0.21% +0.02
BAC Bank of America Corp. Reduce -1.6% 1.25% +0.03
IWY iShares Russell Top 200 Grow Reduce -2.2% 0.48% +0.03
NEE Nextera Energy Inc. Reduce -1.3% 0.55% +0.04
WMT Walmart Inc. Reduce -0.7% 0.60% +0.06
TJX TJX Companies Inc. Reduce -0.6% 0.96% +0.06
WOW Wideopenwest Inc. Reduce -10.4% 0.54% +0.13
GOOG Alphabet Inc. Class C Reduce -0.8% 1.54% +0.24
MSFT Microsoft Corp. Reduce -1.7% 7.04% +0.25
ORCL Oracle Corp. Reduce -0.8% 3.10% +0.30
GOOGL Alphabet Inc. Class A Reduce -0.4% 2.53% +0.41
COST Costco Wholesale Corp. Reduce -1.1% 3.81% +0.46

Portfolio Buys Q1 2024 → Q2 2024
Invesco QQQ Trust New 0.44% +0.44
IBDS Ishrs Ibnds Dec 27 Corp. ETF Add +120.4% 0.40% +0.22
TSM Taiwan Semiconductor-SP ADR Add +38.2% 0.45% +0.19
IBDR iShares Ibonds Dec 2026 Term Add +57.7% 0.49% +0.18
ADI Analog Devices Inc. New 0.14% +0.14
IBDP iShares Ibonds Dec 2024 Term New 0.14% +0.14
CARR Carrier Global Corp. New 0.13% +0.13
FDVV Fidelity High Dividend ETF Add +10.6% 0.78% +0.09
IBDQ iShares Ibonds Dec 2025 Term Add +31.7% 0.37% +0.09
TCAF T Rowe PRC Cap Appreciation Add +13.7% 0.59% +0.09
MUB iShares National Muni Bond E Add +11.8% 0.50% +0.05
AMGN Amgen Inc. Add +14.4% 0.21% +0.04
EEMV iShares MSCI Emg MKT Min Vol Add +17.9% 0.25% +0.04
PG The Procter & Gamble Co. Add +1.2% 1.71% +0.03
MMM 3M Co. Add +15.4% 0.29% +0.03
RTX RTX Corp. Add +2.2% 0.62% +0.03
INTU Intuit Inc. Add +0.3% 3.55% +0.02
SUB iShares Short-Term National Add +1.5% 0.72% +0.00
SPHY SS SPDR P High Yield ETF Add +2.9% 0.28% +0.00
XOM Exxon Mobil Corp. Add +2.9% 0.14% +0.00
AOR iShares Core 60/40 Balanced Add +0.0% 0.35% +0.00
AOM iShares Core 40/60 Moderate Add +0.3% 0.52% +0.00
BIV Vanguard Intermediate-Term B Add +0.2% 0.20% −0.00
IEFA iShares Core MSCI Eafe ETF Add +0.2% 1.27% −0.04
BDX Becton Dickinson and Co. Add +2.3% 0.88% −0.04
IWM iShares Russell 2000 ETF Add +0.8% 1.70% −0.06
ADP Automatic Data Processing Add +0.3% 1.28% −0.07
PEP Pepsico Inc. Add +0.3% 1.05% −0.07
COP Conocophillips Add +1.2% 0.67% −0.07
JNJ Johnson & Johnson Add +2.0% 1.21% −0.08
BRK.B Berkshire Hathaway Inc. Class B Add +0.9% 2.84% −0.09

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