Godshalk Welsh Capital Management, Inc.
Long book
$172.5M
Q1 2026
Positions
129
Top-10 weight
28%
concentration
Last quarter
+7.8%
SPY +14.8%
Turnover
9%
of book per quarter
Strategy in plain words
auto-generated from filingsGodshalk Welsh Capital Management, Inc. is an institutional manager, running a $172.5M US long book across 129 positions.
The portfolio is moderately concentrated (top 10 ≈ 28% of the book). The book barely moves quarter to quarter — a patient, low-turnover holder. Current anchor positions: APPLE INC, MICROSOFT CORP, COSTCO WHOLESALE CORP, ALPHABET INC-CL A, ORACLE CORP.
Over the last 9 quarters its long book ran on average 1.6pp per quarter behind the S&P 500, beating the index in 3 of 9 quarters. Signal value of individual moves is limited — treat changes as weak evidence.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+2.1%
Q2 2024
+7.1%
Q3 2024
-0.3%
Q4 2024
-0.9%
Q1 2025
+5.2%
Q2 2025
+6.5%
Q3 2025
+0.6%
Q4 2025
-2.5%
Q1 2026
+7.8%
Sector allocation
Technology 31%
Consumer discretionary 15%
Financials 15%
Healthcare 11%
Energy 6%
Utilities 5%
Industrials 5%
Other 4%
Long book by quarter
What does Godshalk Welsh own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| AAPL APPLE INC | Technology | 32.3K | $8.2M | 4.8% | -1.1% |
| MSFT MICROSOFT CORP | Technology | 19.8K | $7.3M | 4.3% | -1.3% |
| COST COSTCO WHOLESALE CORP | Consumer discretionary | 5.6K | $5.6M | 3.3% | -0.5% |
| GOOGL ALPHABET INC-CL A | Technology | 17.9K | $5.1M | 3.0% | -0.8% |
| ORCL ORACLE CORP | Technology | 29.5K | $4.3M | 2.5% | -0.8% |
| BRK/B BERKSHIRE HATHAWAY INC-CL B | Financials | 9.0K | $4.3M | 2.5% | -5.5% |
| GMED GLOBUS MEDICAL INC - A | Healthcare | 40.0K | $3.4M | 2.0% | Held |
| GOOG ALPHABET INC-CL C | Technology | 11.3K | $3.3M | 1.9% | Held |
| AXP AMERICAN EXPRESS CO | Financials | 10.7K | $3.2M | 1.9% | -0.8% |
| INTU INTUIT INC | Technology | 7.4K | $3.2M | 1.9% | -0.5% |
| WRB WR BERKLEY CORP | Financials | 45.2K | $3.0M | 1.7% | -0.2% |
| JNJ JOHNSON & JOHNSON | Healthcare | 11.8K | $2.9M | 1.7% | -2.0% |
| CSCO CISCO SYSTEMS INC | Technology | 37.1K | $2.9M | 1.7% | -0.7% |
| JPM JPMORGAN CHASE & CO | Financials | 9.5K | $2.8M | 1.6% | -0.9% |
| CVX CHEVRON CORP | Energy | 10.5K | $2.2M | 1.3% | -0.2% |
| BAC BANK OF AMERICA CORP | Financials | 44.1K | $2.1M | 1.2% | -0.6% |
| PG PROCTER & GAMBLE CO/THE | Other | 14.3K | $2.1M | 1.2% | Held |
| TJX TJX COMPANIES INC | Consumer discretionary | 12.5K | $2.0M | 1.2% | +1.8% |
| WM WASTE MANAGEMENT INC | Utilities | 8.5K | $1.9M | 1.1% | -3.3% |
| HD HOME DEPOT INC | Consumer discretionary | 5.6K | $1.8M | 1.1% | -0.7% |
| GLW CORNING INC | Industrials | 13.4K | $1.8M | 1.1% | -1.1% |
| VLO VALERO ENERGY CORP | Energy | 7.3K | $1.8M | 1.0% | -1.0% |
| LOW LOWE'S COS INC | Consumer discretionary | 7.5K | $1.8M | 1.0% | -0.8% |
| WMT WALMART INC | Consumer discretionary | 13.6K | $1.7M | 1.0% | +1.8% |
| ADP AUTOMATIC DATA PROCESSING | Technology | 8.0K | $1.6M | 0.9% | Held |
| SYY SYSCO CORP | Consumer discretionary | 22.6K | $1.6M | 0.9% | -0.2% |
| RTX RTX CORP | Industrials | 8.1K | $1.6M | 0.9% | -1.8% |
| PAYX PAYCHEX INC | Services media | 16.7K | $1.5M | 0.9% | -4.2% |
| MRK MERCK & CO. INC. | Healthcare | 11.8K | $1.4M | 0.8% | -3.4% |
| PEP PEPSICO INC | Consumer staples | 8.4K | $1.3M | 0.8% | -0.3% |
| PSX PHILLIPS 66 | Energy | 7.1K | $1.3M | 0.7% | -0.4% |
| ECL ECOLAB INC | Other | 4.9K | $1.3M | 0.7% | -2.0% |
| MCD MCDONALD'S CORP | Consumer discretionary | 4.1K | $1.3M | 0.7% | Held |
| SBUX STARBUCKS CORP | Consumer discretionary | 13.6K | $1.2M | 0.7% | +0.8% |
| LHX L3HARRIS TECHNOLOGIES INC | Technology | 3.4K | $1.2M | 0.7% | -0.1% |
| BX BLACKSTONE INC | Financials | 10.0K | $1.2M | 0.7% | -0.1% |
| COP CONOCOPHILLIPS | Energy | 8.7K | $1.1M | 0.7% | Held |
| V VISA INC-CLASS A SHARES | Services media | 3.7K | $1.1M | 0.7% | -0.9% |
| ABBV ABBVIE INC | Healthcare | 5.2K | $1.1M | 0.7% | -1.9% |
| CSX CSX CORP | Industrials | 25.9K | $1.1M | 0.6% | Held |
| BDX BECTON DICKINSON AND CO | Healthcare | 6.7K | $1.1M | 0.6% | +8.9% |
| IDA IDACORP INC | Utilities | 7.3K | $1.0M | 0.6% | Held |
| ZTS ZOETIS INC | Healthcare | 7.8K | $926K | 0.5% | -1.4% |
| YUM YUM! BRANDS INC | Consumer discretionary | 5.9K | $923K | 0.5% | -0.3% |
| UBER UBER TECHNOLOGIES INC | Services media | 12.8K | $921K | 0.5% | -1.8% |
| NEE NEXTERA ENERGY INC | Utilities | 9.2K | $851K | 0.5% | -5.2% |
| RPM RPM INTERNATIONAL INC | Other | 8.4K | $830K | 0.5% | -2.3% |
| HON HONEYWELL INTERNATIONAL INC | Industrials | 3.1K | $692K | 0.4% | +3.4% |
| LMT LOCKHEED MARTIN CORP | Industrials | 1.1K | $665K | 0.4% | Held |
| DGX QUEST DIAGNOSTICS INC | Healthcare | 3.3K | $642K | 0.4% | -0.8% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 13, 2026 | 129 | $172.5M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 12, 2026 | 132 | $175.1M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 14, 2025 | 131 | $174.3M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 14, 2025 | 130 | $162.3M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 15, 2025 | 121 | $152.9M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 12, 2025 | 120 | $154.9M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 13, 2024 | 124 | $158.2M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 13, 2024 | 119 | $150.0M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 15, 2024 | 121 | $148.8M | canonical | SEC ↗ |
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