Godshalk Welsh Capital Management, Inc.

CIK 0001631775 • 6 13F filings • May 15, 2025 – Aug 14, 2026

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Filer information

Filed by: Godshalk Welsh Capital Management, Inc., President and CCO
Address: 170 N. RADNOR CHESTER ROAD, SUITE 100, RADNOR, PA, 19087
Phone: 610-971-0202
AUM: $175.1M

AUM over time

$185.6M latest

Sector allocation over time

Past 5 quarters

Q4 2025

Q3 2025

Q2 2026

Q2 2025

Q1 2026

TechnologyHealthcareConsumer DiscretionaryConsumer StaplesFinancialsCommunicationIndustrialsEnergyReal EstateOther

Holdings by filing

Portfolio value: $175.1M132 positionsView on SEC.gov

			% of Portfolio
3M Co	COM	$602K	0.3%Prev: 0.3%	3,760 SH	Increased
Abbott Laboratories	COM	$392K	0.2%Prev: 0.2%	3,125 SH	Decreased-25 SH
AbbVie Inc	COM	$1.2M	0.7%Prev: 0.7%	5,281 SH	Decreased-25 SH
Adobe Systems Inc	COM	$311K	0.2%Prev: 0.2%	890 SH	Decreased-345 SH
Airbnb Inc	COM	$306K	0.2%Prev: 0.1%	2,255 SH	Increased+200 SH
Alphabet Inc Cl A	COM	$5.6M	3.2%Prev: 2.6%	18,015 SH	Increased-330 SH
Alphabet Inc Cl C	COM	$3.6M	2.0%Prev: 1.6%	11,340 SH	Increased
American Express	COM	$4.0M	2.3%Prev: 2.1%	10,795 SH	Increased-390 SH
American Tower Corp	COM	$996K	0.6%Prev: 0.7%	5,675 SH	Decreased-300 SH
American Water Works Inc	COM	$382K	0.2%Prev: 0.3%	2,925 SH	Decreased-300 SH
Amgen Inc	COM	$421K	0.2%Prev: 0.2%	1,285 SH	Increased+50 SH
Analog Devices Inc	COM	$217K	0.1%	800 SH	New
Apple Inc	COM	$8.9M	5.1%Prev: 4.9%	32,667 SH	Increased-660 SH
Applied Materials Inc	COM	$328K	0.2%Prev: 0.1%	1,275 SH	Increased
Automatic Data Processing	COM	$2.1M	1.2%Prev: 1.3%	7,975 SH	Decreased
Bank of America Corp	COM	$2.4M	1.4%Prev: 1.3%	44,320 SH	Increased-900 SH
Becton Dickinson & Co	COM	$1.2M	0.7%Prev: 0.7%	6,165 SH	Increased-10 SH
Berkshire Hathaway Inc Cl B	COM	$4.8M	2.7%Prev: 2.8%	9,558 SH	Decreased-110 SH
BHP Billiton Ltd ADR	ADR	$244K	0.1%Prev: 0.1%	4,050 SH	Increased-250 SH
Blackstone Group Inc	COM	$1.5M	0.9%Prev: 1.0%	10,020 SH	Decreased-50 SH
Capital One Financial (DH)	COM	$214K	0.1%	885 SH	New
Cava Group Inc	COM	$324K	0.2%Prev: 0.2%	5,525 SH	Decreased+150 SH
Chevron Corp	COM	$1.6M	0.9%Prev: 0.9%	10,500 SH	Decreased+125 SH
Chubb Limited	COM	$231K	0.1%Prev: 0.1%	740 SH	Increased
Cigna Corp	COM	$731K	0.4%Prev: 0.4%	2,655 SH	Decreased
Cisco Systems Inc	COM	$2.9M	1.6%Prev: 1.5%	37,320 SH	Increased-125 SH
Clorox Company	COM	$219K	0.1%Prev: 0.2%	2,175 SH	Decreased-150 SH
Coca-Cola Company	COM	$273K	0.2%Prev: 0.1%	3,900 SH	Increased
Colgate-Palmolive Co	COM	$566K	0.3%Prev: 0.3%	7,160 SH	Decreased
ConocoPhillips	COM	$813K	0.5%Prev: 0.5%	8,680 SH	Decreased
Consolidated Edison Inc	COM	$410K	0.2%Prev: 0.2%	4,125 SH	Decreased-50 SH
Corning Inc	COM	$1.2M	0.7%Prev: 0.6%	13,575 SH	Increased-75 SH
Costco Wholesale Corp	COM	$4.9M	2.8%Prev: 3.1%	5,676 SH	Decreased-102 SH
CSX Corp	COM	$939K	0.5%Prev: 0.5%	25,890 SH	Increased
Danaher Corp	COM	$229K	0.1%	1,000 SH	New
eBay Inc	COM	$375K	0.2%Prev: 0.2%	4,300 SH	Decreased
Ecolab Inc	COM	$1.3M	0.7%Prev: 0.8%	4,960 SH	Decreased-60 SH
Elevance Health	COM	$219K	0.1%Prev: 0.1%	625 SH	Increased
Emerson Electric Co	COM	$186K	0.1%	1,400 SH	New
Essential Utilities Inc	COM	$718K	0.4%Prev: 0.5%	18,711 SH	Decreased-4,250 SH
Exxon Mobil Corp	COM	$310K	0.2%Prev: 0.2%	2,575 SH	Increased+50 SH
Fidelity High Dividend	ETF	$2.1M	1.2%	37,109 SH	New
Globus Medical Inc A	COM	$3.5M	2.0%Prev: 1.6%	40,000 SH	Increased-10,000 SH
Hershey Company	COM	$200K	0.1%Prev: 0.1%	1,100 SH	Decreased
Hilton Worldwide Hldgs	COM	$223K	0.1%Prev: 0.1%	775 SH	Increased
Home Depot Inc	COM	$1.9M	1.1%Prev: 1.3%	5,659 SH	Decreased-10 SH
Honeywell International Inc	COM	$577K	0.3%Prev: 0.3%	2,960 SH	Decreased+165 SH
IBM Corp	COM	$296K	0.2%Prev: 0.2%	1,000 SH	Increased
IdaCorp Incorporated	COM	$928K	0.5%Prev: 0.6%	7,336 SH	Decreased
Intuit Inc	COM	$4.9M	2.8%Prev: 2.9%	7,425 SH	Decreased-50 SH
Invesco Preferred	ETF	$167K	0.1%Prev: 0.3%	14,900 SH	Decreased-26,000 SH
Invesco QQQ Trust	ETF	$728K	0.4%Prev: 0.4%	1,185 SH	Decreased-50 SH
Invesco S&P 500 Eq Wt	ETF	$2.8M	1.6%Prev: 1.5%	14,588 SH	Increased+506 SH
iShares Core Growth Allocation	ETF	$615K	0.4%Prev: 0.3%	9,464 SH	Increased+57 SH
iShares Core Moderate Allocati	ETF	$1.0M	0.6%Prev: 0.5%	21,799 SH	Increased+3,972 SH
iShares Core MSCI EAFE	ETF	$2.5M	1.4%Prev: 1.4%	27,765 SH	Increased+51 SH
iShares Core S&P US Growth	ETF	$715K	0.4%Prev: 0.4%	4,255 SH	Increased-60 SH
iShares iBonds Dec 2026 Term C	ETF	$2.0M	1.2%Prev: 1.1%	84,375 SH	Increased+7,225 SH
iShares iBonds Dec 2026 Term M	ETF	$833K	0.5%Prev: 0.4%	32,500 SH	Increased+4,000 SH
iShares iBonds Dec 2027 Term C	ETF	$2.7M	1.5%Prev: 1.4%	111,625 SH	Increased+9,875 SH
iShares iBonds Dec 2027 Term M	ETF	$922K	0.5%Prev: 0.5%	36,300 SH	Increased+4,000 SH
iShares iBonds Dec 2028 Term C	ETF	$3.1M	1.8%Prev: 1.5%	123,000 SH	Increased+21,400 SH
iShares iBonds Dec 2028 Term M	ETF	$903K	0.5%Prev: 0.4%	35,300 SH	Increased+6,000 SH
iShares iBonds Dec 2029 Term C	ETF	$2.3M	1.3%Prev: 0.9%	99,900 SH	Increased+33,450 SH
iShares iBonds Dec 2029 Term M	ETF	$796K	0.5%Prev: 0.3%	31,300 SH	Increased+7,500 SH
iShares iBonds Dec 2030 Term C	ETF	$1.4M	0.8%Prev: 0.5%	61,600 SH	Increased+23,500 SH
iShares iBonds Dec 2030 Term M	ETF	$732K	0.4%Prev: 0.1%	28,100 SH	Increased+19,100 SH
iShares iBonds Dec 2031 Term C	ETF	$403K	0.2%	19,050 SH	New
iShares iBonds Dec 2031 Term M	ETF	$260K	0.1%	10,000 SH	New
iShares MSCI EAFE Index	ETF	$384K	0.2%Prev: 0.2%	4,000 SH	Increased
iShares MSCI EmergMkt Min Vol	ETF	$500K	0.3%Prev: 0.3%	7,800 SH	Increased
iShares National Muni	ETF	$1.3M	0.7%Prev: 0.7%	12,250 SH	Increased+975 SH
iShares Russell 2000 Index	ETF	$3.1M	1.8%Prev: 1.8%	12,747 SH	Increased-15 SH
iShares Russell Top 200 Growth	ETF	$999K	0.6%Prev: 0.6%	3,609 SH	Increased-1 SH
iShares Short Term Nat Muni Bd	ETF	$1.5M	0.9%Prev: 0.8%	13,950 SH	Increased+325 SH
Johnson & Johnson	COM	$2.5M	1.4%Prev: 1.3%	12,041 SH	Increased
JP Morgan Chase & Co	COM	$3.1M	1.8%Prev: 1.8%	9,580 SH	Increased-110 SH
L3Harris Technologies Inc	COM	$1.0M	0.6%Prev: 0.6%	3,440 SH	Decreased
Labcorp Hldgs Inc.	COM	$394K	0.2%Prev: 0.3%	1,570 SH	Decreased
Lilly Eli & Co	COM	$242K	0.1%	225 SH	New
Lockheed Martin Corp	COM	$532K	0.3%Prev: 0.3%	1,100 SH	Decreased
Lowes Companies Inc	COM	$1.8M	1.0%Prev: 1.1%	7,540 SH	Decreased-125 SH
Markel Corp	COM	$264K	0.2%Prev: 0.1%	123 SH	Increased+11 SH
Masco Corp	COM	$311K	0.2%Prev: 0.2%	4,900 SH	Decreased
Mastercard Inc	COM	$548K	0.3%Prev: 0.3%	960 SH	Increased
McDonalds Corp	COM	$1.3M	0.7%Prev: 0.7%	4,110 SH	Increased-15 SH
Merck & Co	COM	$1.3M	0.7%Prev: 0.6%	12,205 SH	Increased-150 SH
MetLife Inc	COM	$434K	0.2%Prev: 0.3%	5,500 SH	Decreased
Microsoft Corporation	COM	$9.7M	5.5%Prev: 6.0%	20,075 SH	Decreased-255 SH
Mondelez Intl Inc Cl A	COM	$631K	0.4%Prev: 0.5%	11,725 SH	Decreased-1,400 SH
Nestle SA ADR	ADR	$1.0M	0.6%Prev: 0.6%	10,250 SH	Increased-550 SH
NextEra Energy Inc	COM	$776K	0.4%Prev: 0.4%	9,660 SH	Increased-340 SH
Oracle Corp	COM	$5.8M	3.3%Prev: 4.8%	29,710 SH	Decreased-15 SH
Paychex Inc	COM	$1.9M	1.1%Prev: 1.3%	17,380 SH	Decreased
Pepsico Inc	COM	$1.2M	0.7%Prev: 0.7%	8,425 SH	Increased+100 SH
Phillips 66	COM	$919K	0.5%Prev: 0.6%	7,125 SH	Decreased
Procter & Gamble	COM	$2.1M	1.2%Prev: 1.3%	14,345 SH	Decreased
Quest Diagnostics Inc	COM	$573K	0.3%Prev: 0.4%	3,300 SH	Decreased
Republic Services Inc	COM	$344K	0.2%Prev: 0.2%	1,625 SH	Decreased-75 SH
RPM International	COM	$890K	0.5%Prev: 0.6%	8,555 SH	Decreased
RTX Corp	COM	$1.5M	0.9%Prev: 0.8%	8,221 SH	Increased
Schwab US Small Cap	ETF	$251K	0.1%Prev: 0.1%	8,800 SH	Increased
Simon Property Group	COM	$208K	0.1%Prev: 0.1%	1,125 SH	Decreased
Solstice Advanced Materials In	COM	$356K	0.2%	7,337 SH	New
Southern Company	COM	$218K	0.1%Prev: 0.1%	2,500 SH	Decreased
SPDR Portfolio High Yield Bond	ETF	$621K	0.4%Prev: 0.4%	26,250 SH	Decreased-1,500 SH
SPDR S&P 500	ETF	$1.3M	0.7%Prev: 0.7%	1,875 SH	Increased
Stantec Inc	COM	$208K	0.1%Prev: 0.1%	2,200 SH	Decreased
Starbucks Corp	COM	$1.1M	0.6%Prev: 0.7%	13,500 SH	Decreased
Sysco Corporation	COM	$1.7M	1.0%Prev: 1.1%	22,690 SH	Decreased
T Rowe Price Capital Apprec Eq	ETF	$1.8M	1.0%Prev: 1.0%	46,525 SH	Increased+1,500 SH
Taiwan Semiconductor Mfg ADR	ADR	$1.2M	0.7%Prev: 0.6%	4,060 SH	Increased+130 SH
Target Corporation	COM	$313K	0.2%Prev: 0.2%	3,200 SH	Decreased-1,445 SH
TJX Companies Inc	COM	$1.9M	1.1%Prev: 1.0%	12,250 SH	Increased-240 SH
Uber Technologies Inc	COM	$1.1M	0.6%Prev: 0.7%	13,035 SH	Decreased+735 SH
Union Pacific Corp	COM	$301K	0.2%Prev: 0.2%	1,300 SH	Decreased
UnitedHealth Group Inc	COM	$642K	0.4%Prev: 0.4%	1,945 SH	Decreased-100 SH
Valero Energy Corp	COM	$1.2M	0.7%Prev: 0.7%	7,325 SH	Decreased
Vanguard Div Appreciation	ETF	$1.5M	0.8%Prev: 0.8%	6,614 SH	Increased-16 SH
Vanguard Info Technology	ETF	$324K	0.2%Prev: 0.2%	430 SH	Increased
Vanguard REIT	ETF	$715K	0.4%Prev: 0.4%	8,085 SH	Decreased+150 SH
Vanguard Short Term Bond Index	ETF	$257K	0.1%Prev: 0.1%	3,261 SH	Increased+112 SH
Vanguard Total Stock Mkt	ETF	$337K	0.2%Prev: 0.2%	1,006 SH	Increased
Vgd Consumer Discretionary	ETF	$376K	0.2%Prev: 0.2%	955 SH	Decreased-5 SH
Vgd Int Term Bond Index Fund	ETF	$271K	0.2%Prev: 0.2%	3,483 SH	Increased+108 SH
Visa Inc	COM	$1.3M	0.8%Prev: 0.7%	3,780 SH	Increased+40 SH
Walmart Inc	COM	$1.5M	0.9%Prev: 0.8%	13,380 SH	Increased+50 SH
Waste Connections Inc	COM	$556K	0.3%Prev: 0.3%	3,170 SH	Decreased-300 SH
Waste Management Inc	COM	$1.9M	1.1%Prev: 1.1%	8,740 SH	Decreased-50 SH
WR Berkley Corp	COM	$3.2M	1.8%Prev: 2.0%	45,270 SH	Decreased-649 SH
YUM! Brands Inc	COM	$901K	0.5%Prev: 0.6%	5,955 SH	Decreased-525 SH
Zoetis Inc	COM	$1.0M	0.6%Prev: 0.7%	7,950 SH	Decreased-150 SH

Sold (vs prior filing)

Comcast Corp Class A — $202K
Corteva Inc — $220K
DuPont de Nemours Inc — $331K
Fidelity High Dividend — $2.0M
iShares iBonds Dec 2025 Term C — $840K
iShares iBonds Dec 2025 Term M — $268K
Veralto Corp — $208K
WideOpenWest Inc — $111K

All filings

Open a filing on Jive Data

Filing Date	Quarter	Form	Accession	Portfolio	Filing
Feb 12, 2026	Q4 2025	13F-HR	0001631775-26-000001	$175.1M	View
Nov 14, 2025	Q3 2025	13F-HR	0001631775-25-000006	$174.3M	View
Aug 14, 2026	Q2 2026