GW
Godshalk Welsh Capital Management, Inc.: 13F Stock Holdings & Portfolio (Q2 2026)
Godshalk Welsh Capital Management, Inc.CIK: 0001631775
Diversified strategyMomentum followerQuality / disciplined sizing
Total reported value
$185.6M
Reporting period: 2026-06-30 · Number of holdings: 137
Godshalk Welsh Capital Management, Inc. disclosed 137 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $185.6M and a quarterly turnover rate of 13.6%.
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Personality snowflake
- Concentration
- 6.27
- Portfolio Stability
- 13.61
- Momentum
- 100
- Sector conviction
- 45.52
- Diversification
- 100
- Sizing Uniformity
- 89.25
Godshalk Welsh Capital Management, Inc.'s disclosed holdings carry a Herfindahl concentration index of 0.016 — mathematically equivalent to about 64 equally-sized positions, well below its 137 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 1.07), suggesting a disciplined, rules-based approach to how much capital goes into each idea.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 69% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govTrim INTU
-9.7% -$1.5M
Add GLW
-0.6% $1.6M
Add CSCO
-1.8% $1.4M
Add GOOGL
-0.6% $1.2M
Trim COST
+0.4% -$321.0K
Trim CVX
0.0% -$430.9K
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | AAPL | Apple Inc | Stock-Tech | 5.02% | +0.27% | -0.39% | |
| 2 | MSFT | Microsoft CORP | Stock-Tech | 3.96% | -0.29% | -0.45% | |
| 3 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 3.42% | +0.44% | -0.59% | |
| 4 | COST | Costco Wholesale CORP | Stock-Consumer Staples | 2.86% | -0.40% | +0.44% | |
| 5 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 2.38% | -0.13% | -2.44% | |
| 6 | ORCL | Oracle CORP | Stock-Tech | 2.32% | -0.19% | -0.34% | |
| 7 | CSCO | Cisco Systems Inc | Stock-Tech | 2.30% | +0.63% | -1.82% | |
| 8 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 2.16% | +0.27% | — | |
| 9 | IWM | Ishares Russell 2000 ETF | ETF-Small Cap | 2.06% | +0.23% | -0.02% | |
| 10 | IBDT | Ishares Ibonds Dec 2028 ETF | ETF-Other | 1.97% | -0.07% | +4.32% | |
| 11 | AXP | American Express Co | Stock-Financials | 1.96% | +0.08% | +0.33% | |
| 12 | GLW | Corning Inc | Stock-Tech | 1.84% | +0.78% | -0.56% | |
| 13 | RSP | Invesco S&p 500 Equal Weight | ETF-Large Cap & Growth | 1.74% | +0.07% | +1.24% | |
| 14 | WRB | Wr Berkley CORP | Stock-Financials | 1.72% | -0.02% | — | |
| 15 | IBDU | Ishares Ibonds Dec 2029 Term | ETF-Other | 1.71% | -0.08% | +3.05% | |
| 16 | GMED | Globus Medical Inc - A | Stock-Healthcare | 1.70% | -0.30% | — | |
| 17 | JPM | Jpmorgan Chase & Co | Stock-Financials | 1.65% | +0.03% | -1.32% | |
| 18 | IBDS | Ishrs Ibnds Dec 27 CORP ETF | ETF-Other | 1.65% | -0.11% | +1.00% | |
| 19 | JNJ | Johnson & Johnson | Stock-Healthcare | 1.60% | -0.07% | -0.83% | |
| 20 | IEFA | Ishares Core Msci Eafe ETF | ETF-Other | 1.45% | -0.02% | -0.52% | |
| 21 | BAC | Bank Of America CORP | Stock-Financials | 1.35% | +0.10% | -0.45% | |
| 22 | FDVV | Fidelity High Dividend ETF | ETF-Other | 1.34% | +0.06% | +2.97% | |
| 23 | IBDV | Ishares Ibonds Dec 2030 CORP | ETF-Other | 1.20% | -0.01% | +7.10% | |
| 24 | IBDR | Ishares Ibonds Dec 2026 Term | ETF-Other | 1.18% | -0.09% | +0.11% | |
| 25 | TCAF | T Rowe Prc Cap Appreciation | ETF-Other | 1.14% | +0.13% | +5.37% | |
| 26 | PG | Procter & Gamble Co/the | Stock-Consumer Staples | 1.13% | -0.07% | — | |
| 27 | HD | Home Depot Inc | Stock-Consumer Disc | 1.07% | — | -0.09% | |
| 28 | TSM | Taiwan Semiconductor-sp Adr | Stock-Tech | 1.05% | +0.25% | -0.61% | |
| 29 | TJX | Tjx Companies Inc | Stock-Consumer Disc | 1.03% | -0.12% | +0.80% | |
| 30 | SYY | Sysco CORP | Stock-Consumer Staples | 1.01% | +0.07% | -0.66% | |
| 31 | VLO | Valero Energy CORP | Stock-Energy | 1.01% | -0.03% | -0.69% | |
| 32 | WM | Waste Management Inc | Stock-Industrials | 1.00% | -0.13% | -1.18% | |
| 33 | ADP | Automatic Data Processing | Stock-Tech | 0.96% | +0.02% | — | |
| 34 | INTU | Intuit Inc | Stock-Tech | 0.94% | -0.91% | -9.68% | |
| 35 | CVX | Chevron CORP | Stock-Energy | 0.94% | -0.32% | — | |
| 36 | LOW | Lowe's Cos Inc | Stock-Consumer Disc | 0.89% | -0.13% | — | |
| 37 | PAYX | Paychex Inc | Stock-Tech | 0.88% | -0.01% | — | |
| 38 | WMT | Walmart Inc | Stock-Consumer Staples | 0.84% | -0.14% | +1.54% | |
| 39 | RTX | Rtx CORP | Stock-Industrials | 0.82% | -0.08% | -0.62% | |
| 40 | MRK | Merck & Co. Inc. | Stock-Healthcare | 0.81% | -0.01% | -0.42% | |
| 41 | VIG | Vanguard Dividend Apprec ETF | ETF-Other | 0.79% | -0.04% | -6.03% | |
| 42 | IBDW | Ishares Ibonds Dec 2031 CORP | ETF-Other | 0.77% | +0.02% | +10.48% | |
| 43 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-Large Cap & Growth | 0.75% | +0.04% | — | |
| 44 | SBUX | Starbucks CORP | Stock-Consumer Disc | 0.75% | +0.04% | — | |
| 45 | SUB | Ishares Short-term National | ETF-Other | 0.74% | -0.07% | -1.53% | |
| 46 | AOM | Ishares Core 40/60 Moderate | ETF-Other | 0.73% | -0.02% | +0.02% | |
| 47 | ECL | Ecolab Inc | Stock-Materials | 0.73% | -0.02% | — | |
| 48 | ABBV | Abbvie Inc | Stock-Healthcare | 0.70% | +0.05% | — | |
| 49 | V | Visa Inc-class A Shares | Stock-Financials | 0.69% | +0.03% | — | |
| 50 | IBMQ | Ishares Ibonds Dec 2028 Muni | ETF-Other | 0.68% | -0.02% | +5.32% |
1–50 of 137
Portfolio Performance
Performance for Q3 2026
+3.3%
Performance Last 4 Quarters
+12.3%
- Stdev
- +10.4%
- Beta
- +0.75
- Alpha
- -1.2%
- Max Drawdown
- -6.8%
- Annualized Perf
- +14.1%
- Batting Avg vs S&P
- +33.3%
- Sortino
- +2.39
- Stutzer
- +0.38
- Treynor
- +0.18
- Sterling
- +0.94
- Calmar
- +2.07
- Information Ratio
- -1.25
- Tracking Error
- +5%
- Stdev Down
- +5.8%
- Winning Months %
- +66.7%
- Losing Months %
- +33.3%
- Best 12 Months
- +29.4%
- Worst 12 Months
- +7.4%
- Efficiency Ratio
- +0.5
- Sharpe
- +1.33
- Stdev Sectors
- +7.4%
- Skewness
- -0.31
- Kurtosis
- -0.32
- Upside Potential
- +4.02
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 137 | $185.6M | 14 | ||
| 2026 Q1 | 129 | $172.5M | 16 | ||
| 2025 Q4 | 132 | $175.1M | 13 | ||
| 2025 Q3 | 131 | $174.3M | 23 | ||
| 2025 Q2 | 130 | $162.3M | 0 | ||
| 2025 Q1 | 121 | $152.9M | 100 | ||
| 2024 Q4 | 120 | $154.9M | 0 | ||
| 2024 Q3 | 124 | $158.2M | 0 | ||
| 2024 Q2 | 119 | $150.0M | 0 | ||
| 2024 Q1 | 121 | $148.8M | 0 | ||
| 2023 Q4 | 117 | $139.2M | 0 | ||
| 2023 Q3 | 114 | $132.5M | 0 | ||
| 2023 Q2 | 116 | $145.2M | 0 | ||
| 2023 Q1 | 118 | $141.6M | 0 | ||
| 2022 Q4 | 113 | $137.1M | 0 | ||
| 2022 Q3 | 117 | $135.4M | 0 | ||
| 2022 Q2 | 115 | $139.2M | 0 | ||
| 2022 Q1 | 115 | $162.7M | 0 | ||
| 2021 Q4 | 118 | $175.7M | 0 | ||
| 2021 Q3 | 114 | $160.4M | 0 | ||
| 2021 Q2 | 117 | $161.4M | 100 | ||
| 2021 Q1 | 114 | $143.5M | 11 | ||
| 2020 Q4 | 111 | $135.6M | 16 | ||
| 2020 Q3 | 105 | $118.5M | 15 | ||
| 2020 Q2 | 99 | $106.8M | 18 | ||
| 2020 Q1 | 96 | $92.0M | 31 | ||
| 2019 Q4 | 112 | $121.4M | 9 | ||
| 2019 Q3 | 109 | $113.1M | 10 | ||
| 2019 Q2 | 107 | $108.2M | 10 | ||
| 2019 Q1 | 104 | $104.1M | 18 | ||
| 2018 Q4 | 100 | $89.4M | 19 | ||
| 2018 Q3 | 110 | $102.8M | 14 | ||
| 2018 Q2 | 109 | $95.5M | 15 | ||
| 2018 Q1 | 108 | $92.8M | 12 | ||
| 2017 Q4 | 122 | $98.8M | 13 | ||
| 2017 Q3 | 129 | $99.6M | 10 | ||
| 2017 Q2 | 127 | $100.8M | 8 | ||
| 2017 Q1 | 132 | $101.8M | 9 | ||
| 2016 Q4 | 131 | $97.7M | 37 | ||
| 2016 Q3 | 134 | $96.8M | 10 | ||
| 2016 Q2 | 128 | $94.9M | 9 | ||
| 2016 Q1 | 135 | $96.5M | 11 | ||
| 2015 Q4 | 137 | $95.9M | 16 | ||
| 2015 Q3 | 140 | $91.3M | 16 | ||
| 2015 Q2 | 140 | $98.4M | 16 | ||
| 2015 Q1 | 135 | $97.7M | 24 | ||
| 2014 Q4 | 287 | $109.8M | — |
Holding changes this quarter
Godshalk Welsh Capital Management, Inc.'s most significant position changes for 2026-06-30: New buy: ; New buy: Intel CORP (INTC); New buy: Eli Lilly & Co (LLY); New buy: Elevance Health Inc (ELV); New buy: Carrier Global CORP (CARR).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | GLW | Corning Inc | +0.8% | -0.56% | Trim |
| 2 | CSCO | Cisco Systems Inc | +0.6% | -1.82% | Trim |
| 3 | GOOGL | Alphabet Inc-cl A | +0.4% | -0.59% | Trim |
| 4 | AAPL | Apple Inc | +0.3% | -0.39% | Trim |
| 5 | GOOG | Alphabet Inc-cl C | +0.3% | — | Unchanged |
| 6 | TSM | Taiwan Semiconductor-sp Adr | +0.3% | -0.61% | Trim |
| 7 | NOK | Nokia Corp-spon Adr | +0.3% | — | Unchanged |
| 8 | IWM | Ishares Russell 2000 ETF | +0.2% | -0.02% | Trim |
| 9 | ✓ | +0.2% | NEW | New buy | |
| 10 | INTC | Intel CORP | +0.2% | NEW | New buy |
| 11 | LLY | Eli Lilly & Co | +0.1% | NEW | New buy |
| 12 | TCAF | T Rowe Prc Cap Appreciation | +0.1% | +5.37% | Add |
| 13 | UNH | Unitedhealth Group Inc | +0.1% | — | Unchanged |
| 14 | ELV | Elevance Health Inc | +0.1% | NEW | New buy |
| 15 | CARR | Carrier Global CORP | +0.1% | NEW | New buy |
| 16 | VIOG | Vanguard S&p Sm Cap 600 Grw | +0.1% | NEW | New buy |
| 17 | FRAF | Franklin Financial Services | +0.1% | NEW | New buy |
| 18 | GWW | Ww Grainger Inc | +0.1% | NEW | New buy |
| 19 | IBMS | Isharesibonddec2030munibdetf | +0.1% | +32.81% | Add |
| 20 | VTI | Vanguard Total Stock Mkt ETF | +0.1% | +48.41% | Add |
| 21 | CAT | Caterpillar Inc | +0.1% | NEW | New buy |
| 22 | EMR | Emerson Electric Co | +0.1% | NEW | New buy |
| 23 | BAC | Bank Of America CORP | +0.1% | -0.45% | Trim |
| 24 | AXP | American Express Co | +0.1% | +0.33% | Add |
| 25 | RSP | Invesco S&p 500 Equal Weight | +0.1% | +1.24% | Add |
| 26 | SYY | Sysco CORP | +0.1% | -0.66% | Trim |
| 27 | QQQ | Invesco Qqq Trust Series 1 | +0.1% | — | Unchanged |
| 28 | WAT | Waters CORP | +0.1% | +6.97% | Add |
| 29 | FDVV | Fidelity High Dividend ETF | +0.1% | +2.97% | Add |
| 30 | ABBV | Abbvie Inc | +0.1% | — | Unchanged |
| 31 | IWY | Ishares Russell Top 200 Grow | +0.1% | — | Unchanged |
| 32 | IUSG | Ishares Core S&p U.s. Growth | +0.1% | -0.94% | Trim |
| 33 | VGT | Vanguard Info Tech ETF | +0.1% | +700.00% | Add |
| 34 | SPY | Ss Spdr S&p 500 ETF Trust-us | 0% | — | Unchanged |
| 35 | SBUX | Starbucks CORP | 0% | — | Unchanged |
| 36 | CSX | Csx CORP | 0% | -0.97% | Trim |
| 37 | IBMT | Ishares Ibonds Dec 2031 Muni | 0% | +23.53% | Add |
| 38 | MAS | Masco CORP | 0% | — | Unchanged |
| 39 | Q | Qnity Electronics Inc | 0% | — | Unchanged |
| 40 | JPM | Jpmorgan Chase & Co | 0% | -1.32% | Trim |
| 41 | V | Visa Inc-class A Shares | 0% | — | Unchanged |
| 42 | SOLS | Solstice Adv Materials Inc | 0% | — | Unchanged |
| 43 | EBAY | Ebay Inc | 0% | — | Unchanged |
| 44 | EEMV | Ishares Msci Emg Mkt Min Vol | 0% | — | Unchanged |
| 45 | ADP | Automatic Data Processing | 0% | — | Unchanged |
| 46 | IBDW | Ishares Ibonds Dec 2031 CORP | 0% | +10.48% | Add |
| 47 | RPM | Rpm International Inc | 0% | — | Unchanged |
| 48 | ADI | Analog Devices Inc | 0% | — | Unchanged |
| 49 | MET | Metlife Inc | 0% | -2.78% | Trim |
| 50 | SCHA | Schwab US Small-cap ETF | 0% | — | Unchanged |
1–50 of 139
Filing History
FAQ
What is Godshalk Welsh Capital Management, Inc. and what type of investor is it?
Godshalk Welsh Capital Management, Inc. is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $185.6M, spread across 137 disclosed positions.
What are Godshalk Welsh Capital Management, Inc.'s largest equity positions?
Based on the latest 13F filing, Godshalk Welsh Capital Management, Inc.'s top holdings by market value are:
1. Apple Inc (AAPL) — $9.3M (5.0%)
2. Microsoft CORP (MSFT) — $7.4M (4.0%)
3. Alphabet Inc-cl A (GOOGL) — $6.4M (3.4%)
4. Costco Wholesale CORP (COST) — $5.3M (2.9%)
5. Berkshire Hathaway Inc-cl B (BRK-B) — $4.4M (2.4%)
What changes did Godshalk Welsh Capital Management, Inc. make in its most recent portfolio filing?
In the latest reported quarter, Godshalk Welsh Capital Management, Inc. made 78 notable position adjustments: 10 new positions were initiated, 33 existing holdings were added to, 33 positions were partially reduced, and 2 were completely exited. The largest of these moves: New buy: ; New buy: Intel CORP (INTC); New buy: Eli Lilly & Co (LLY); New buy: Elevance Health Inc (ELV); New buy: Carrier Global CORP (CARR)
What sectors does Godshalk Welsh Capital Management, Inc. focus on?
Godshalk Welsh Capital Management, Inc. is concentrated in the following sectors based on its current disclosed equity portfolio:
• Information Technology: 29.4%
• Financials: 12.9%
• Health Care: 11.4%
• Consumer Staples: 10.7%
• Consumer Discretionary: 8.4%
• Industrials: 8.2%
Investment Profile
Godshalk Welsh Capital Management, Inc. returned an annualized 14.1% over the trailing 36 months — underperforming the S&P 500 by 1.2 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.75 (less volatile than the market) and a 33% quarterly batting average against the index.
Its portfolio is broadly diversified and long-term-holding.
It has added to its GLW position over the past two quarters (+$2.2M, now $3.4M), while trimming INTU over the same stretch (-$3.2M, still holding $1.7M).
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Developer Access
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