13F HOLDINGS REPORT
Godshalk Welsh Capital Management, Inc.
Quarter ended Q3 2025 · Filed November 14, 2025 · Accession 0001631775-25-000006
Total Value
$174.3M
Positions
131
Other Managers
0
Confidential Omitted
No
Holdings (131)
| # | Issuer | Ticker / CUSIP | Shares | Value | % of Filing |
|---|---|---|---|---|---|
| 1 | Microsoft Corporation | MSFT | 20,330 | $10.5M | 6.04% |
| 2 | Apple Inc | AAPL | 33,327 | $8.5M | 4.87% |
| 3 | Oracle Corp | ORCL-PD | 29,725 | $8.4M | 4.80% |
| 4 | Costco Wholesale Corp | 22160K105 | 5,778 | $5.3M | 3.07% |
| 5 | Intuit Inc | INTU | 7,475 | $5.1M | 2.93% |
| 6 | Berkshire Hathaway Inc Cl B | BRK-A | 9,668 | $4.9M | 2.79% |
| 7 | Alphabet Inc Cl A | GOOG | 18,345 | $4.5M | 2.56% |
| 8 | American Express | AXP | 11,185 | $3.7M | 2.13% |
| 9 | WR Berkley Corp | WRB-PH | 45,919 | $3.5M | 2.02% |
| 10 | iShares Russell 2000 Index | 464287655 | 12,762 | $3.1M | 1.77% |
| 11 | JP Morgan Chase & Co | VYLD | 9,690 | $3.1M | 1.75% |
| 12 | Globus Medical Inc A | GMED | 50,000 | $2.9M | 1.64% |
| 13 | Alphabet Inc Cl C | GOOG | 11,340 | $2.8M | 1.58% |
| 14 | Invesco S&P 500 Eq Wt | IVZ | 14,082 | $2.7M | 1.53% |
| 15 | iShares iBonds Dec 2028 Term C | 46435U515 | 101,600 | $2.6M | 1.49% |
| 16 | Cisco Systems Inc | CSCO | 37,445 | $2.6M | 1.47% |
| 17 | iShares iBonds Dec 2027 Term C | 46435UAA9 | 101,750 | $2.5M | 1.42% |
| 18 | iShares Core MSCI EAFE | 46432F842 | 27,714 | $2.4M | 1.39% |
| 19 | Automatic Data Processing | ADP | 7,975 | $2.3M | 1.34% |
| 20 | Bank of America Corp | 060505104 | 45,220 | $2.3M | 1.34% |
| 21 | Home Depot Inc | HD | 5,669 | $2.3M | 1.32% |
| 22 | Johnson & Johnson | JNJ | 12,041 | $2.2M | 1.28% |
| 23 | Procter & Gamble | 742718109 | 14,345 | $2.2M | 1.26% |
| 24 | Paychex Inc | PAYX | 17,380 | $2.2M | 1.26% |
| 25 | Fidelity High Dividend | 316092840 | 36,060 | $2.0M | 1.15% |
| 26 | Waste Management Inc | 94106L109 | 8,790 | $1.9M | 1.11% |
| 27 | Lowes Companies Inc | 548661107 | 7,665 | $1.9M | 1.11% |
| 28 | iShares iBonds Dec 2026 Term C | 46435GAA0 | 77,150 | $1.9M | 1.08% |
| 29 | Sysco Corporation | SYY | 22,690 | $1.9M | 1.07% |
| 30 | TJX Companies Inc | 872540109 | 12,490 | $1.8M | 1.04% |
| 31 | Blackstone Group Inc | BX | 10,070 | $1.7M | 0.99% |
| 32 | T Rowe Price Capital Apprec Eq | 87283Q867 | 45,025 | $1.7M | 0.97% |
| 33 | Chevron Corp | CVX | 10,375 | $1.6M | 0.92% |
| 34 | iShares iBonds Dec 2029 Term C | 46436E205 | 66,450 | $1.6M | 0.89% |
| 35 | iShares Short Term Nat Muni Bd | 464288158 | 13,625 | $1.5M | 0.83% |
| 36 | Vanguard Div Appreciation | 921908844 | 6,630 | $1.4M | 0.82% |
| 37 | RTX Corp | RTX | 8,221 | $1.4M | 0.79% |
| 38 | Ecolab Inc | ECL | 5,020 | $1.4M | 0.79% |
| 39 | Walmart Inc | WMT | 13,330 | $1.4M | 0.79% |
| 40 | Visa Inc | V | 3,740 | $1.3M | 0.73% |
| 41 | McDonalds Corp | MCD | 4,125 | $1.3M | 0.72% |
| 42 | SPDR S&P 500 | SPY | 1,875 | $1.2M | 0.72% |
| 43 | Valero Energy Corp | VLO | 7,325 | $1.2M | 0.72% |
| 44 | AbbVie Inc | ABBV | 5,306 | $1.2M | 0.70% |
| 45 | Uber Technologies Inc | UBER | 12,300 | $1.2M | 0.69% |
| 46 | iShares National Muni | 464288414 | 11,275 | $1.2M | 0.69% |
| 47 | Zoetis Inc | ZTS | 8,100 | $1.2M | 0.68% |
| 48 | Pepsico Inc | PEP | 8,325 | $1.2M | 0.67% |
| 49 | Becton Dickinson & Co | BDX | 6,175 | $1.2M | 0.66% |
| 50 | American Tower Corp | 03027X100 | 5,975 | $1.1M | 0.66% |
| 51 | Starbucks Corp | SBUX | 13,500 | $1.1M | 0.66% |
| 52 | Corning Inc | GLW | 13,650 | $1.1M | 0.64% |
| 53 | Taiwan Semiconductor Mfg ADR | 874039100 | 3,930 | $1.1M | 0.63% |
| 54 | L3Harris Technologies Inc | LHX | 3,440 | $1.1M | 0.60% |
| 55 | Merck & Co | MRK | 12,355 | $1.0M | 0.59% |
| 56 | RPM International | 749685103 | 8,555 | $1.0M | 0.58% |
| 57 | Nestle SA ADR | 641069406 | 10,800 | $991,116 | 0.57% |
| 58 | iShares Russell Top 200 Growth | 464289438 | 3,610 | $987,877 | 0.57% |
| 59 | YUM! Brands Inc | YUM | 6,480 | $984,960 | 0.57% |
| 60 | IdaCorp Incorporated | IDA | 7,336 | $969,452 | 0.56% |
| 61 | Phillips 66 | PSX | 7,125 | $969,143 | 0.56% |
| 62 | CSX Corp | CSX | 25,890 | $919,354 | 0.53% |
| 63 | Essential Utilities Inc | 29670G102 | 22,961 | $916,144 | 0.53% |
| 64 | iShares Core Moderate Allocati | 464289875 | 17,827 | $848,204 | 0.49% |
| 65 | iShares iBonds Dec 2030 Term C | 46436E726 | 38,100 | $843,915 | 0.48% |
| 66 | iShares iBonds Dec 2025 Term C | 46434VBD1 | 33,350 | $840,087 | 0.48% |
| 67 | iShares iBonds Dec 2027 Term M | 46435U283 | 32,300 | $822,843 | 0.47% |
| 68 | ConocoPhillips | COP | 8,680 | $821,041 | 0.47% |
| 69 | Mondelez Intl Inc Cl A | 609207105 | 13,125 | $819,919 | 0.47% |
| 70 | Cigna Corp | CI | 2,655 | $765,304 | 0.44% |
| 71 | NextEra Energy Inc | NEE-PW | 10,000 | $754,900 | 0.43% |
| 72 | iShares iBonds Dec 2028 Term M | 46435U325 | 29,300 | $751,252 | 0.43% |
| 73 | Invesco QQQ Trust | IVZ | 1,235 | $741,457 | 0.43% |
| 74 | iShares iBonds Dec 2026 Term M | 46435U259 | 28,500 | $731,310 | 0.42% |
| 75 | Vanguard REIT | 922908553 | 7,935 | $725,418 | 0.42% |
| 76 | iShares Core S&P US Growth | 464287671 | 4,315 | $709,990 | 0.41% |
| 77 | UnitedHealth Group Inc | UNH | 2,045 | $706,139 | 0.41% |
| 78 | SPDR Portfolio High Yield Bond | 78468R606 | 27,750 | $664,335 | 0.38% |
| 79 | Quest Diagnostics Inc | DGX | 3,300 | $628,914 | 0.36% |
| 80 | Waste Connections Inc | WCN | 3,470 | $610,026 | 0.35% |
| 81 | iShares iBonds Dec 2029 Term M | 46436E163 | 23,800 | $607,614 | 0.35% |
| 82 | iShares Core Growth Allocation | 464289867 | 9,407 | $605,601 | 0.35% |
| 83 | Honeywell International Inc | 438516106 | 2,795 | $588,348 | 0.34% |
| 84 | 3M Co | MMM | 3,760 | $583,477 | 0.33% |
| 85 | Colgate-Palmolive Co | CL | 7,160 | $572,370 | 0.33% |
| 86 | Lockheed Martin Corp | LMT | 1,100 | $549,131 | 0.32% |
| 87 | Mastercard Inc | MA | 960 | $546,058 | 0.31% |
| 88 | iShares MSCI EmergMkt Min Vol | 464286533 | 7,800 | $497,874 | 0.29% |
| 89 | Invesco Preferred | IVZ | 40,900 | $474,440 | 0.27% |
| 90 | MetLife Inc | MET-PF | 5,500 | $453,035 | 0.26% |
| 91 | Labcorp Hldgs Inc. | 50540R409 | 1,570 | $450,684 | 0.26% |
| 92 | American Water Works Inc | 030420103 | 3,225 | $448,888 | 0.26% |
| 93 | Adobe Systems Inc | ADBE | 1,235 | $435,646 | 0.25% |
| 94 | Abbott Laboratories | ABLZF | 3,150 | $421,911 | 0.24% |
| 95 | Consolidated Edison Inc | ED | 4,175 | $419,671 | 0.24% |
| 96 | Target Corporation | TGT | 4,645 | $416,657 | 0.24% |
| 97 | eBay Inc | EBAY | 4,300 | $391,085 | 0.22% |
| 98 | Republic Services Inc | 760759100 | 1,700 | $390,116 | 0.22% |
| 99 | Vgd Consumer Discretionary | 92204A108 | 960 | $380,304 | 0.22% |
| 100 | iShares MSCI EAFE Index | 464287465 | 4,000 | $373,480 | 0.21% |
| 101 | Amgen Inc | AMGN | 1,235 | $348,517 | 0.20% |
| 102 | Masco Corp | MAS | 4,900 | $344,911 | 0.20% |
| 103 | DuPont de Nemours Inc | DD | 4,249 | $330,997 | 0.19% |
| 104 | Vanguard Total Stock Mkt | 922908769 | 1,006 | $330,075 | 0.19% |
| 105 | Cava Group Inc | CAVA | 5,375 | $324,704 | 0.19% |
| 106 | Vanguard Info Technology | 92204A702 | 430 | $321,051 | 0.18% |
| 107 | Union Pacific Corp | UNP | 1,300 | $307,281 | 0.18% |
| 108 | Clorox Company | CLX | 2,325 | $286,673 | 0.16% |
| 109 | Exxon Mobil Corp | XOM | 2,525 | $284,694 | 0.16% |
| 110 | IBM Corp | INTR | 1,000 | $282,160 | 0.16% |
| 111 | iShares iBonds Dec 2025 Term M | 46435U432 | 10,000 | $267,900 | 0.15% |
| 112 | Vgd Int Term Bond Index Fund | 921937819 | 3,375 | $263,565 | 0.15% |
| 113 | Applied Materials Inc | NOKBF | 1,275 | $261,044 | 0.15% |
| 114 | Coca-Cola Company | KO | 3,900 | $258,648 | 0.15% |
| 115 | Airbnb Inc | ABNB | 2,055 | $249,518 | 0.14% |
| 116 | Vanguard Short Term Bond Index | 921937827 | 3,149 | $248,477 | 0.14% |
| 117 | Schwab US Small Cap | 808524607 | 8,800 | $245,520 | 0.14% |
| 118 | BHP Billiton Ltd ADR | BHPLF | 4,300 | $239,725 | 0.14% |
| 119 | Stantec Inc | STN | 2,200 | $237,160 | 0.14% |
| 120 | Southern Company | SOMN | 2,500 | $236,925 | 0.14% |
| 121 | iShares iBonds Dec 2030 Term M | 46438G687 | 9,000 | $234,720 | 0.13% |
| 122 | Corteva Inc | CTVA | 3,252 | $219,933 | 0.13% |
| 123 | Markel Corp | MKL | 112 | $214,072 | 0.12% |
| 124 | Simon Property Group | 828806109 | 1,125 | $211,129 | 0.12% |
| 125 | Chubb Limited | CB | 740 | $208,865 | 0.12% |
| 126 | Veralto Corp | VLTO | 1,950 | $207,890 | 0.12% |
| 127 | Hershey Company | HSY | 1,100 | $205,755 | 0.12% |
| 128 | Comcast Corp Class A | CCZ | 6,434 | $202,156 | 0.12% |
| 129 | Elevance Health | ELV | 625 | $201,950 | 0.12% |
| 130 | Hilton Worldwide Hldgs | HLT | 775 | $201,066 | 0.12% |
| 131 | WideOpenWest Inc | 96758W101 | 21,500 | $110,940 | 0.06% |