13F HOLDINGS REPORT
Godshalk Welsh Capital Management, Inc.
Quarter ended Q4 2025 · Filed February 12, 2026 · Accession 0001631775-26-000001
Total Value
$175.1M
Positions
132
Other Managers
0
Confidential Omitted
No
Holdings (132)
| # | Issuer | Ticker / CUSIP | Shares | Value | % of Filing |
|---|---|---|---|---|---|
| 1 | Microsoft Corporation | MSFT | 20,075 | $9.7M | 5.54% |
| 2 | Apple Inc | AAPL | 32,667 | $8.9M | 5.07% |
| 3 | Oracle Corp | ORCL-PD | 29,710 | $5.8M | 3.31% |
| 4 | Alphabet Inc Cl A | GOOG | 18,015 | $5.6M | 3.22% |
| 5 | Intuit Inc | INTU | 7,425 | $4.9M | 2.81% |
| 6 | Costco Wholesale Corp | 22160K105 | 5,676 | $4.9M | 2.80% |
| 7 | Berkshire Hathaway Inc Cl B | BRK-A | 9,558 | $4.8M | 2.74% |
| 8 | American Express | AXP | 10,795 | $4.0M | 2.28% |
| 9 | Alphabet Inc Cl C | GOOG | 11,340 | $3.6M | 2.03% |
| 10 | Globus Medical Inc A | GMED | 40,000 | $3.5M | 1.99% |
| 11 | WR Berkley Corp | WRB-PH | 45,270 | $3.2M | 1.81% |
| 12 | iShares Russell 2000 Index | 464287655 | 12,747 | $3.1M | 1.79% |
| 13 | iShares iBonds Dec 2028 Term C | 46435U515 | 123,000 | $3.1M | 1.79% |
| 14 | JP Morgan Chase & Co | VYLD | 9,580 | $3.1M | 1.76% |
| 15 | Cisco Systems Inc | CSCO | 37,320 | $2.9M | 1.64% |
| 16 | Invesco S&P 500 Eq Wt | IVZ | 14,588 | $2.8M | 1.60% |
| 17 | iShares iBonds Dec 2027 Term C | 46435UAA9 | 111,625 | $2.7M | 1.55% |
| 18 | Johnson & Johnson | JNJ | 12,041 | $2.5M | 1.42% |
| 19 | iShares Core MSCI EAFE | 46432F842 | 27,765 | $2.5M | 1.42% |
| 20 | Bank of America Corp | 060505104 | 44,320 | $2.4M | 1.39% |
| 21 | iShares iBonds Dec 2029 Term C | 46436E205 | 99,900 | $2.3M | 1.34% |
| 22 | Fidelity High Dividend | 316092840 | 37,109 | $2.1M | 1.20% |
| 23 | Procter & Gamble | 742718109 | 14,345 | $2.1M | 1.17% |
| 24 | Automatic Data Processing | ADP | 7,975 | $2.1M | 1.17% |
| 25 | iShares iBonds Dec 2026 Term C | 46435GAA0 | 84,375 | $2.0M | 1.17% |
| 26 | Paychex Inc | PAYX | 17,380 | $1.9M | 1.11% |
| 27 | Home Depot Inc | HD | 5,659 | $1.9M | 1.11% |
| 28 | Waste Management Inc | 94106L109 | 8,740 | $1.9M | 1.10% |
| 29 | TJX Companies Inc | 872540109 | 12,250 | $1.9M | 1.07% |
| 30 | Lowes Companies Inc | 548661107 | 7,540 | $1.8M | 1.04% |
| 31 | T Rowe Price Capital Apprec Eq | 87283Q867 | 46,525 | $1.8M | 1.02% |
| 32 | Sysco Corporation | SYY | 22,690 | $1.7M | 0.95% |
| 33 | Chevron Corp | CVX | 10,500 | $1.6M | 0.91% |
| 34 | Blackstone Group Inc | BX | 10,020 | $1.5M | 0.88% |
| 35 | RTX Corp | RTX | 8,221 | $1.5M | 0.86% |
| 36 | Walmart Inc | WMT | 13,380 | $1.5M | 0.85% |
| 37 | iShares Short Term Nat Muni Bd | 464288158 | 13,950 | $1.5M | 0.85% |
| 38 | Vanguard Div Appreciation | 921908844 | 6,614 | $1.5M | 0.83% |
| 39 | iShares iBonds Dec 2030 Term C | 46436E726 | 61,600 | $1.4M | 0.78% |
| 40 | Visa Inc | V | 3,780 | $1.3M | 0.76% |
| 41 | iShares National Muni | 464288414 | 12,250 | $1.3M | 0.75% |
| 42 | Ecolab Inc | ECL | 4,960 | $1.3M | 0.74% |
| 43 | Merck & Co | MRK | 12,205 | $1.3M | 0.73% |
| 44 | SPDR S&P 500 | SPY | 1,875 | $1.3M | 0.73% |
| 45 | McDonalds Corp | MCD | 4,110 | $1.3M | 0.72% |
| 46 | Taiwan Semiconductor Mfg ADR | 874039100 | 4,060 | $1.2M | 0.70% |
| 47 | Pepsico Inc | PEP | 8,425 | $1.2M | 0.69% |
| 48 | AbbVie Inc | ABBV | 5,281 | $1.2M | 0.69% |
| 49 | Becton Dickinson & Co | BDX | 6,165 | $1.2M | 0.68% |
| 50 | Valero Energy Corp | VLO | 7,325 | $1.2M | 0.68% |
| 51 | Corning Inc | GLW | 13,575 | $1.2M | 0.68% |
| 52 | Starbucks Corp | SBUX | 13,500 | $1.1M | 0.65% |
| 53 | Uber Technologies Inc | UBER | 13,035 | $1.1M | 0.61% |
| 54 | iShares Core Moderate Allocati | 464289875 | 21,799 | $1.0M | 0.59% |
| 55 | Nestle SA ADR | 641069406 | 10,250 | $1.0M | 0.58% |
| 56 | L3Harris Technologies Inc | LHX | 3,440 | $1.0M | 0.58% |
| 57 | Zoetis Inc | ZTS | 7,950 | $1.0M | 0.57% |
| 58 | iShares Russell Top 200 Growth | 464289438 | 3,609 | $999,476 | 0.57% |
| 59 | American Tower Corp | 03027X100 | 5,675 | $996,360 | 0.57% |
| 60 | CSX Corp | CSX | 25,890 | $938,513 | 0.54% |
| 61 | IdaCorp Incorporated | IDA | 7,336 | $928,444 | 0.53% |
| 62 | iShares iBonds Dec 2027 Term M | 46435U283 | 36,300 | $921,657 | 0.53% |
| 63 | Phillips 66 | PSX | 7,125 | $919,410 | 0.53% |
| 64 | iShares iBonds Dec 2028 Term M | 46435U325 | 35,300 | $902,798 | 0.52% |
| 65 | YUM! Brands Inc | YUM | 5,955 | $900,872 | 0.51% |
| 66 | RPM International | 749685103 | 8,555 | $889,720 | 0.51% |
| 67 | iShares iBonds Dec 2026 Term M | 46435U259 | 32,500 | $833,203 | 0.48% |
| 68 | ConocoPhillips | COP | 8,680 | $812,535 | 0.46% |
| 69 | iShares iBonds Dec 2029 Term M | 46436E163 | 31,300 | $795,959 | 0.45% |
| 70 | NextEra Energy Inc | NEE-PW | 9,660 | $775,505 | 0.44% |
| 71 | iShares iBonds Dec 2030 Term M | 46438G687 | 28,100 | $732,286 | 0.42% |
| 72 | Cigna Corp | CI | 2,655 | $730,736 | 0.42% |
| 73 | Invesco QQQ Trust | IVZ | 1,185 | $727,957 | 0.42% |
| 74 | Essential Utilities Inc | 29670G102 | 18,711 | $717,754 | 0.41% |
| 75 | Vanguard REIT | 922908553 | 8,085 | $715,442 | 0.41% |
| 76 | iShares Core S&P US Growth | 464287671 | 4,255 | $714,585 | 0.41% |
| 77 | UnitedHealth Group Inc | UNH | 1,945 | $642,064 | 0.37% |
| 78 | Mondelez Intl Inc Cl A | 609207105 | 11,725 | $631,157 | 0.36% |
| 79 | SPDR Portfolio High Yield Bond | 78468R606 | 26,250 | $621,338 | 0.35% |
| 80 | iShares Core Growth Allocation | 464289867 | 9,464 | $615,281 | 0.35% |
| 81 | 3M Co | MMM | 3,760 | $601,976 | 0.34% |
| 82 | Honeywell International Inc | 438516106 | 2,960 | $577,466 | 0.33% |
| 83 | Quest Diagnostics Inc | DGX | 3,300 | $572,649 | 0.33% |
| 84 | Colgate-Palmolive Co | CL | 7,160 | $565,783 | 0.32% |
| 85 | Waste Connections Inc | WCN | 3,170 | $555,891 | 0.32% |
| 86 | Mastercard Inc | MA | 960 | $548,045 | 0.31% |
| 87 | Lockheed Martin Corp | LMT | 1,100 | $532,037 | 0.30% |
| 88 | iShares MSCI EmergMkt Min Vol | 464286533 | 7,800 | $499,512 | 0.29% |
| 89 | MetLife Inc | MET-PF | 5,500 | $434,170 | 0.25% |
| 90 | Amgen Inc | AMGN | 1,285 | $420,593 | 0.24% |
| 91 | Consolidated Edison Inc | ED | 4,125 | $409,695 | 0.23% |
| 92 | iShares iBonds Dec 2031 Term C | 46436E486 | 19,050 | $402,908 | 0.23% |
| 93 | Labcorp Hldgs Inc. | 50540R409 | 1,570 | $393,882 | 0.22% |
| 94 | Abbott Laboratories | ABLZF | 3,125 | $391,531 | 0.22% |
| 95 | iShares MSCI EAFE Index | 464287465 | 4,000 | $384,120 | 0.22% |
| 96 | American Water Works Inc | 030420103 | 2,925 | $381,713 | 0.22% |
| 97 | Vgd Consumer Discretionary | 92204A108 | 955 | $376,194 | 0.21% |
| 98 | eBay Inc | EBAY | 4,300 | $374,530 | 0.21% |
| 99 | Solstice Advanced Materials In | 83443Q103 | 7,337 | $356,431 | 0.20% |
| 100 | Republic Services Inc | 760759100 | 1,625 | $344,386 | 0.20% |
| 101 | Vanguard Total Stock Mkt | 922908769 | 1,006 | $337,293 | 0.19% |
| 102 | Applied Materials Inc | NOKBF | 1,275 | $327,662 | 0.19% |
| 103 | Cava Group Inc | CAVA | 5,525 | $324,262 | 0.19% |
| 104 | Vanguard Info Technology | 92204A702 | 430 | $324,125 | 0.19% |
| 105 | Target Corporation | TGT | 3,200 | $312,800 | 0.18% |
| 106 | Adobe Systems Inc | ADBE | 890 | $311,491 | 0.18% |
| 107 | Masco Corp | MAS | 4,900 | $310,954 | 0.18% |
| 108 | Exxon Mobil Corp | XOM | 2,575 | $309,876 | 0.18% |
| 109 | Airbnb Inc | ABNB | 2,255 | $306,049 | 0.17% |
| 110 | Union Pacific Corp | UNP | 1,300 | $300,716 | 0.17% |
| 111 | IBM Corp | INTR | 1,000 | $296,210 | 0.17% |
| 112 | Coca-Cola Company | KO | 3,900 | $272,649 | 0.16% |
| 113 | Vgd Int Term Bond Index Fund | 921937819 | 3,483 | $271,261 | 0.15% |
| 114 | Markel Corp | MKL | 123 | $264,407 | 0.15% |
| 115 | iShares iBonds Dec 2031 Term M | 46438G356 | 10,000 | $259,500 | 0.15% |
| 116 | Vanguard Short Term Bond Index | 921937827 | 3,261 | $257,031 | 0.15% |
| 117 | Schwab US Small Cap | 808524607 | 8,800 | $250,624 | 0.14% |
| 118 | BHP Billiton Ltd ADR | BHPLF | 4,050 | $244,499 | 0.14% |
| 119 | Lilly Eli & Co | LLY | 225 | $241,803 | 0.14% |
| 120 | Chubb Limited | CB | 740 | $230,969 | 0.13% |
| 121 | Danaher Corp | 235851102 | 1,000 | $228,920 | 0.13% |
| 122 | Hilton Worldwide Hldgs | HLT | 775 | $222,619 | 0.13% |
| 123 | Clorox Company | CLX | 2,175 | $219,305 | 0.13% |
| 124 | Elevance Health | ELV | 625 | $219,094 | 0.13% |
| 125 | Southern Company | SOMN | 2,500 | $218,000 | 0.12% |
| 126 | Analog Devices Inc | ADI | 800 | $216,960 | 0.12% |
| 127 | Capital One Financial (DH) | 14040H105 | 885 | $214,489 | 0.12% |
| 128 | Simon Property Group | 828806109 | 1,125 | $208,249 | 0.12% |
| 129 | Stantec Inc | STN | 2,200 | $207,592 | 0.12% |
| 130 | Hershey Company | HSY | 1,100 | $200,178 | 0.11% |
| 131 | Emerson Electric Co | EMR | 1,400 | $185,808 | 0.11% |
| 132 | Invesco Preferred | IVZ | 14,900 | $167,476 | 0.10% |