Q4 2025 · 13F-HR
Godshalk Welsh Capital Management, Inc.holdings as filed
Filed 2026-02-12 · accession 0001631775-26-000001
$175.1M
Reported value
132
Positions
2025-12-31
Period end
The Brief · Godshalk Welsh Capital Management, Inc. · Q4 2025
AI · grounded in 13F
Godshalk Welsh Capital Management, Inc. closed its position in IBDQ with a reduction of $840,087. The fund increased its holdings in several iShares iBonds, most notably increasing shares of IBMS by 212.22%, IBDV by 61.68%, and IBDU by 50.34%. Additionally, the manager trimmed positions in GMED, GOOGL, and COST.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 594918104 | MSFT | Microsoft Corporation | $9.7M | 5.54% | 20,075 | Common | NONE |
| 037833100 | AAPL | Apple Inc | $8.9M | 5.07% | 32,667 | Common | NONE |
| 68389X105 | ORCL | Oracle Corp | $5.8M | 3.31% | 29,710 | Common | NONE |
| 02079K305 | GOOGL | Alphabet Inc Cl A | $5.6M | 3.22% | 18,015 | Common | NONE |
| 461202103 | INTU | Intuit Inc | $4.9M | 2.81% | 7,425 | Common | NONE |
| 22160K105 | COST | Costco Wholesale Corp | $4.9M | 2.80% | 5,676 | Common | NONE |
| 084670702 | BRK/B | Berkshire Hathaway Inc Cl B | $4.8M | 2.74% | 9,558 | Common | NONE |
| 025816109 | AXP | American Express | $4.0M | 2.28% | 10,795 | Common | NONE |
| 02079K107 | GOOG | Alphabet Inc Cl C | $3.6M | 2.03% | 11,340 | Common | NONE |
| 379577208 | GMED | Globus Medical Inc A | $3.5M | 1.99% | 40,000 | Common | NONE |
| 084423102 | WRB | WR Berkley Corp | $3.2M | 1.81% | 45,270 | Common | NONE |
| 464287655 | IWM | iShares Russell 2000 Index | $3.1M | 1.79% | 12,747 | Common | NONE |
| 46435U515 | IBDT | iShares iBonds Dec 2028 Term C | $3.1M | 1.79% | 123,000 | Common | NONE |
| 46625H100 | JPM | JP Morgan Chase & Co | $3.1M | 1.76% | 9,580 | Common | NONE |
| 17275R102 | CSCO | Cisco Systems Inc | $2.9M | 1.64% | 37,320 | Common | NONE |
| 46137V357 | RSP | Invesco S&P 500 Eq Wt | $2.8M | 1.60% | 14,588 | Common | NONE |
| 46435UAA9 | IBDS | iShares iBonds Dec 2027 Term C | $2.7M | 1.55% | 111,625 | Common | NONE |
| 478160104 | JNJ | Johnson & Johnson | $2.5M | 1.42% | 12,041 | Common | NONE |
| 46432F842 | IEFA | iShares Core MSCI EAFE | $2.5M | 1.42% | 27,765 | Common | NONE |
| 060505104 | BAC | Bank of America Corp | $2.4M | 1.39% | 44,320 | Common | NONE |
| 46436E205 | IBDU | iShares iBonds Dec 2029 Term C | $2.3M | 1.34% | 99,900 | Common | NONE |
| 316092840 | FDVV | Fidelity High Dividend | $2.1M | 1.20% | 37,109 | Common | NONE |
| 742718109 | PG | Procter & Gamble | $2.1M | 1.17% | 14,345 | Common | NONE |
| 053015103 | ADP | Automatic Data Processing | $2.1M | 1.17% | 7,975 | Common | NONE |
| 46435GAA0 | IBDR | iShares iBonds Dec 2026 Term C | $2.0M | 1.17% | 84,375 | Common | NONE |
| 704326107 | PAYX | Paychex Inc | $1.9M | 1.11% | 17,380 | Common | NONE |
| 437076102 | HD | Home Depot Inc | $1.9M | 1.11% | 5,659 | Common | NONE |
| 94106L109 | WM | Waste Management Inc | $1.9M | 1.10% | 8,740 | Common | NONE |
| 872540109 | TJX | TJX Companies Inc | $1.9M | 1.07% | 12,250 | Common | NONE |
| 548661107 | LOW | Lowes Companies Inc | $1.8M | 1.04% | 7,540 | Common | NONE |
| 87283Q867 | TCAF | T Rowe Price Capital Apprec Eq | $1.8M | 1.02% | 46,525 | Common | NONE |
| 871829107 | SYY | Sysco Corporation | $1.7M | 0.95% | 22,690 | Common | NONE |
| 166764100 | CVX | Chevron Corp | $1.6M | 0.91% | 10,500 | Common | NONE |
| 09260D107 | BX | Blackstone Group Inc | $1.5M | 0.88% | 10,020 | Common | NONE |
| 75513E101 | RTX | RTX Corp | $1.5M | 0.86% | 8,221 | Common | NONE |
| 931142103 | WMT | Walmart Inc | $1.5M | 0.85% | 13,380 | Common | NONE |
| 464288158 | SUB | iShares Short Term Nat Muni Bd | $1.5M | 0.85% | 13,950 | Common | NONE |
| 921908844 | VIG | Vanguard Div Appreciation | $1.5M | 0.83% | 6,614 | Common | NONE |
| 46436E726 | IBDV | iShares iBonds Dec 2030 Term C | $1.4M | 0.78% | 61,600 | Common | NONE |
| 92826C839 | V | Visa Inc | $1.3M | 0.76% | 3,780 | Common | NONE |
| 464288414 | MUB | iShares National Muni | $1.3M | 0.75% | 12,250 | Common | NONE |
| 278865100 | ECL | Ecolab Inc | $1.3M | 0.74% | 4,960 | Common | NONE |
| 58933Y105 | MRK | Merck & Co | $1.3M | 0.73% | 12,205 | Common | NONE |
| 78462F103 | SPY | SPDR S&P 500 | $1.3M | 0.73% | 1,875 | Common | NONE |
| 580135101 | MCD | McDonalds Corp | $1.3M | 0.72% | 4,110 | Common | NONE |
| 874039100 | TSM | Taiwan Semiconductor Mfg ADR | $1.2M | 0.70% | 4,060 | Common | NONE |
| 713448108 | PEP | Pepsico Inc | $1.2M | 0.69% | 8,425 | Common | NONE |
| 00287Y109 | ABBV | AbbVie Inc | $1.2M | 0.69% | 5,281 | Common | NONE |
| 075887109 | BDX | Becton Dickinson & Co | $1.2M | 0.68% | 6,165 | Common | NONE |
| 91913Y100 | VLO | Valero Energy Corp | $1.2M | 0.68% | 7,325 | Common | NONE |
| 219350105 | GLW | Corning Inc | $1.2M | 0.68% | 13,575 | Common | NONE |
| 855244109 | SBUX | Starbucks Corp | $1.1M | 0.65% | 13,500 | Common | NONE |
| 90353T100 | UBER | Uber Technologies Inc | $1.1M | 0.61% | 13,035 | Common | NONE |
| 464289875 | AOM | iShares Core Moderate Allocati | $1.0M | 0.59% | 21,799 | Common | NONE |
| 641069406 | NSRGY | Nestle SA ADR | $1.0M | 0.58% | 10,250 | Common | NONE |
| 502431109 | LHX | L3Harris Technologies Inc | $1.0M | 0.58% | 3,440 | Common | NONE |
| 98978V103 | ZTS | Zoetis Inc | $1.0M | 0.57% | 7,950 | Common | NONE |
| 464289438 | IWY | iShares Russell Top 200 Growth | $999,476 | 0.57% | 3,609 | Common | NONE |
| 03027X100 | AMT | American Tower Corp | $996,360 | 0.57% | 5,675 | Common | NONE |
| 126408103 | CSX | CSX Corp | $938,513 | 0.54% | 25,890 | Common | NONE |
| 451107106 | IDA | IdaCorp Incorporated | $928,444 | 0.53% | 7,336 | Common | NONE |
| 46435U283 | IBMP | iShares iBonds Dec 2027 Term M | $921,657 | 0.53% | 36,300 | Common | NONE |
| 718546104 | PSX | Phillips 66 | $919,410 | 0.53% | 7,125 | Common | NONE |
| 46435U325 | IBMQ | iShares iBonds Dec 2028 Term M | $902,798 | 0.52% | 35,300 | Common | NONE |
| 988498101 | YUM | YUM! Brands Inc | $900,872 | 0.51% | 5,955 | Common | NONE |
| 749685103 | RPM | RPM International | $889,720 | 0.51% | 8,555 | Common | NONE |
| 46435U259 | IBMO | iShares iBonds Dec 2026 Term M | $833,203 | 0.48% | 32,500 | Common | NONE |
| 20825C104 | COP | ConocoPhillips | $812,535 | 0.46% | 8,680 | Common | NONE |
| 46436E163 | IBMR | iShares iBonds Dec 2029 Term M | $795,959 | 0.45% | 31,300 | Common | NONE |
| 65339F101 | NEE | NextEra Energy Inc | $775,505 | 0.44% | 9,660 | Common | NONE |
| 46438G687 | IBMS | iShares iBonds Dec 2030 Term M | $732,286 | 0.42% | 28,100 | Common | NONE |
| 125509109 | — | Cigna Corp | $730,736 | 0.42% | 2,655 | Common | NONE |
| 46090E103 | QQQ | Invesco QQQ Trust | $727,957 | 0.42% | 1,185 | Common | NONE |
| 29670G102 | WTRG | Essential Utilities Inc | $717,754 | 0.41% | 18,711 | Common | NONE |
| 922908553 | VNQ | Vanguard REIT | $715,442 | 0.41% | 8,085 | Common | NONE |
| 464287671 | IUSG | iShares Core S&P US Growth | $714,585 | 0.41% | 4,255 | Common | NONE |
| 91324P102 | UNH | UnitedHealth Group Inc | $642,064 | 0.37% | 1,945 | Common | NONE |
| 609207105 | MDLZ | Mondelez Intl Inc Cl A | $631,157 | 0.36% | 11,725 | Common | NONE |
| 78468R606 | SPHY | SPDR Portfolio High Yield Bond | $621,338 | 0.35% | 26,250 | Common | NONE |
| 464289867 | AOR | iShares Core Growth Allocation | $615,281 | 0.35% | 9,464 | Common | NONE |
| 88579Y101 | MMM | 3M Co | $601,976 | 0.34% | 3,760 | Common | NONE |
| 438516106 | HON | Honeywell International Inc | $577,466 | 0.33% | 2,960 | Common | NONE |
| 74834L100 | DGX | Quest Diagnostics Inc | $572,649 | 0.33% | 3,300 | Common | NONE |
| 194162103 | CL | Colgate-Palmolive Co | $565,783 | 0.32% | 7,160 | Common | NONE |
| 94106B101 | WCN | Waste Connections Inc | $555,891 | 0.32% | 3,170 | Common | NONE |
| 57636Q104 | MA | Mastercard Inc | $548,045 | 0.31% | 960 | Common | NONE |
| 539830109 | LMT | Lockheed Martin Corp | $532,037 | 0.30% | 1,100 | Common | NONE |
| 464286533 | EEMV | iShares MSCI EmergMkt Min Vol | $499,512 | 0.29% | 7,800 | Common | NONE |
| 59156R108 | MET | MetLife Inc | $434,170 | 0.25% | 5,500 | Common | NONE |
| 031162100 | AMGN | Amgen Inc | $420,593 | 0.24% | 1,285 | Common | NONE |
| 209115104 | ED | Consolidated Edison Inc | $409,695 | 0.23% | 4,125 | Common | NONE |
| 46436E486 | IBDW | iShares iBonds Dec 2031 Term C | $402,908 | 0.23% | 19,050 | Common | NONE |
| 50540R409 | LSI | Labcorp Hldgs Inc. | $393,882 | 0.22% | 1,570 | Common | NONE |
| 002824100 | ABT | Abbott Laboratories | $391,531 | 0.22% | 3,125 | Common | NONE |
| 464287465 | EFA | iShares MSCI EAFE Index | $384,120 | 0.22% | 4,000 | Common | NONE |
| 030420103 | AWK | American Water Works Inc | $381,713 | 0.22% | 2,925 | Common | NONE |
| 92204A108 | VCR | Vgd Consumer Discretionary | $376,194 | 0.21% | 955 | Common | NONE |
| 278642103 | EBAY | eBay Inc | $374,530 | 0.21% | 4,300 | Common | NONE |
| 83443Q103 | SOLS | Solstice Advanced Materials In | $356,431 | 0.20% | 7,337 | Common | NONE |
| 760759100 | RSG | Republic Services Inc | $344,386 | 0.20% | 1,625 | Common | NONE |
| 922908769 | VTI | Vanguard Total Stock Mkt | $337,293 | 0.19% | 1,006 | Common | NONE |
| 654902204 | NOK | Applied Materials Inc | $327,662 | 0.19% | 1,275 | Common | NONE |
| 148929102 | CAVA | Cava Group Inc | $324,262 | 0.19% | 5,525 | Common | NONE |
| 92204A702 | VGT | Vanguard Info Technology | $324,125 | 0.19% | 430 | Common | NONE |
| 87612E106 | TGT | Target Corporation | $312,800 | 0.18% | 3,200 | Common | NONE |
| 00724F101 | ADBE | Adobe Systems Inc | $311,491 | 0.18% | 890 | Common | NONE |
| 574599106 | MAS | Masco Corp | $310,954 | 0.18% | 4,900 | Common | NONE |
| 30231G102 | XOM | Exxon Mobil Corp | $309,876 | 0.18% | 2,575 | Common | NONE |
| 009066101 | ABNB | Airbnb Inc | $306,049 | 0.17% | 2,255 | Common | NONE |
| 907818108 | UNP | Union Pacific Corp | $300,716 | 0.17% | 1,300 | Common | NONE |
| 459200101 | IBM | IBM Corp | $296,210 | 0.17% | 1,000 | Common | NONE |
| 191216100 | KO | Coca-Cola Company | $272,649 | 0.16% | 3,900 | Common | NONE |
| 921937819 | BIV | Vgd Int Term Bond Index Fund | $271,261 | 0.15% | 3,483 | Common | NONE |
| 570535104 | MKL | Markel Corp | $264,407 | 0.15% | 123 | Common | NONE |
| 46438G356 | IBMT | iShares iBonds Dec 2031 Term M | $259,500 | 0.15% | 10,000 | Common | NONE |
| 921937827 | BSV | Vanguard Short Term Bond Index | $257,031 | 0.15% | 3,261 | Common | NONE |
| 808524607 | SCHA | Schwab US Small Cap | $250,624 | 0.14% | 8,800 | Common | NONE |
| 088606108 | BHP | BHP Billiton Ltd ADR | $244,499 | 0.14% | 4,050 | Common | NONE |
| 532457108 | LLY | Lilly Eli & Co | $241,803 | 0.14% | 225 | Common | NONE |
| H1467J104 | CB | Chubb Limited | $230,969 | 0.13% | 740 | Common | NONE |
| 235851102 | DHR | Danaher Corp | $228,920 | 0.13% | 1,000 | Common | NONE |
| 43300A203 | HLT | Hilton Worldwide Hldgs | $222,619 | 0.13% | 775 | Common | NONE |
| 189054109 | CLX | Clorox Company | $219,305 | 0.13% | 2,175 | Common | NONE |
| 036752103 | ELV | Elevance Health | $219,094 | 0.13% | 625 | Common | NONE |
| 842587107 | SO | Southern Company | $218,000 | 0.12% | 2,500 | Common | NONE |
| 032654105 | ADI | Analog Devices Inc | $216,960 | 0.12% | 800 | Common | NONE |
| 14040H105 | COF | Capital One Financial (DH) | $214,489 | 0.12% | 885 | Common | NONE |
| 828806109 | SPG | Simon Property Group | $208,249 | 0.12% | 1,125 | Common | NONE |
| 85472N109 | STN | Stantec Inc | $207,592 | 0.12% | 2,200 | Common | NONE |
| 427866108 | HSY | Hershey Company | $200,178 | 0.11% | 1,100 | Common | NONE |
| 291011104 | EMR | Emerson Electric Co | $185,808 | 0.11% | 1,400 | Common | NONE |
| 46138E511 | PGX | Invesco Preferred | $167,476 | 0.10% | 14,900 | Common | NONE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.