Portfolio (Quarterly) Guide ↗

Godshalk Welsh Capital Management, Inc.

· CIK 0001631775

13F Portfolio $175M AUM 132 positions Filed Feb 12, 2026 EDGAR ↗ ← All Funds

Q4 2025 Q3 2025 · All 8 New 31 Added 39 Reduced 7 Exited

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#	Ticker	Company	Sector	Shares	Value ↓	% Port	Chg Shares	Chg %	Period Price ①	Since Period ①
21	—	iShares iBonds Dec 2030 Term M	—	28,100.0	$732K	0.42%	+19K	+212.2%	$26.06	—
22	VNQ	Vanguard REIT	—	8,085.0	$715K	0.41%	+150.0	+1.9%	$88.49	+9.4%
23	AOR	iShares Core Growth Allocation	—	9,464.0	$615K	0.35%	+57.0	+0.6%	$65.01	+5.8%
24	HON	Honeywell International Inc	Industrials	2,960.0	$577K	0.33%	+165.0	+5.9%	$195.09	+16.8%
25	AMGN	Amgen Inc	Healthcare	1,285.0	$421K	0.24%	+50.0	+4.0%	$327.31	+3.7%
26	CAVA	Cava Group Inc	Consumer Cyclical	5,525.0	$324K	0.18%	+150.0	+2.8%	$58.69	+37.0%
27	XOM	Exxon Mobil Corp	Energy	2,575.0	$310K	0.18%	+50.0	+2.0%	$120.34	+28.7%
28	ABNB	Airbnb Inc	Consumer Cyclical	2,255.0	$306K	0.17%	+200.0	+9.7%	$135.72	-2.5%
29	BIV	Vgd Int Term Bond Index Fund	—	3,483.0	$271K	0.15%	+108.0	+3.2%	$77.88	-2.0%
30	MKL	Markel Corp	Financial Services	123.0	$264K	0.15%	+11.0	+9.8%	$2149.65	-13.6%
31	BSV	Vanguard Short Term Bond Index	—	3,261.0	$257K	0.15%	+112.0	+3.6%	$78.82	-1.2%

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① Period Price is the implied market price on the last day of the reporting period, calculated as reported value ÷ shares held. It is not the fund's purchase price or cost basis — the fund may have initiated or added to the position at any point during the quarter at a different price. Since Period shows the price change from that quarter-end snapshot to today's last price — it reflects stock movement after the report date, not the fund's actual return.

Sector Allocation

Technology 29.7%

Financial Services 15.5%

Consumer Defensive 10.9%

Industrials 10.5%

Consumer Cyclical 8.2%

Healthcare 8.0%

Communication Services 7.4%

Energy 3.9%

Utilities 2.8%

Basic Materials 2.3%