Godshalk Welsh Capital Management 13F annual report

Godshalk Welsh Capital Management is an investment fund managing more than $149 billion ran by Matthew Welsh. There are currently 121 companies in Mr. Welsh’s portfolio. The largest investments include Microsoft and Apple Inc, together worth $17 billion.

Limited to 30 biggest holdings

$149 billion Assets Under Management (AUM)

As of 8th May 2024, Godshalk Welsh Capital Management’s top holding is 24,032 shares of Microsoft currently worth over $10.1 billion and making up 6.8% of the portfolio value. Relative to the number of outstanding shares of Microsoft, Godshalk Welsh Capital Management owns more than approximately 0.1% of the company. In addition, the fund holds 40,431 shares of Apple Inc worth $6.93 billion, whose value fell 0.3% in the past six months. The third-largest holding is Intuit Inc worth $5.25 billion and the next is Costco Wholesale Corp worth $4.98 billion, with 6,794 shares owned.

Currently, Godshalk Welsh Capital Management's portfolio is worth at least $149 billion. The total portfolio value may be much higher due to cash assets that are not publicly disclosed such as fixed income, real estate, or cash equivalents.

Careers at Godshalk Welsh Capital Management

The Godshalk Welsh Capital Management office and employees reside in Radnor, Pennsylvania. According to the last 13-F report filed with the SEC, Matthew Welsh serves as the President and Chief Compliance Officer at Godshalk Welsh Capital Management.

Recent trades

In the most recent 13F filing, Godshalk Welsh Capital Management revealed that it had opened a new position in Ishares Short Term Nat Muni Bd and bought 10,200 shares worth $1.07 billion.

The investment fund also strengthened its position in Invesco Sp 500 Eq Wt by buying 818 additional shares. This makes their stake in Invesco Sp 500 Eq Wt total 14,685 shares worth $2.49 billion.

On the other hand, there are companies that Godshalk Welsh Capital Management is getting rid of from its portfolio. Godshalk Welsh Capital Management closed its position in Nestle Sa on 15th May 2024. It sold the previously owned 12,580 shares for $1.51 billion. Matthew Welsh also disclosed a decreased stake in Microsoft by approximately 0.1%. This leaves the value of the investment at $10.1 billion and 24,032 shares.

One of the smallest hedge funds

The two most similar investment funds to Godshalk Welsh Capital Management are Eliot Finkel Investment Counsel and Blue Water Life Science Advisors, L.P.. They manage $149 billion and $149 billion respectively.


Matthew Welsh investment strategy

Godshalk Welsh Capital Management’s portfolio is diversified across 13 sectors. Currently, their heaviest sector is Technology — making up 19.6% of the total portfolio value. The fund focuses on investments in the United States as 58.7% of the portfolio companies are based in the United States.

The majority of the companies in the fund’s portfolio are large-cap stocks. Stocks with a size of more than $10 billion in market cap make up 57% of the total holdings value. On the other hand, small-cap stocks make up only 1.7% of the portfolio. The average market cap of the portfolio companies is close to $204 billion.

The complete list of Godshalk Welsh Capital Management trades based on 13F SEC filings

These positions were updated on May 15th based on the fund’s latest 13F filing. Quickly find out what the most recently closed or increased positions are.

Security Shares Owned Value Allocation
Microsoft Corporation
9.55%
24,032
$10,110,743,000 6.79%
Apple Inc
7.62%
40,431
$6,933,108,000 4.66%
Intuit Inc
12.17%
8,080
$5,252,000,000 3.53%
Costco Wholesale Corp
11.12%
6,794
$4,977,503,000 3.34%
Berkshire Hathaway Inc.
11.11%
10,398
$4,372,567,000 2.94%
Oracle Corp.
4.43%
33,235
$4,174,648,000 2.81%
Globus Medical Inc
1.39%
71,035
$3,810,317,000 2.56%
Alphabet Inc
8.88%
20,925
$3,158,210,000 2.12%
Berkley W R Corporation
11.64%
33,904
$2,998,470,000 2.01%
American Express Co.
5.04%
12,863
$2,928,776,000 1.97%
Merck Co
9.74%
20,523
$2,708,010,000 1.82%
Ishares Russell 2000 Index
1.93%
12,466
$2,621,679,000 1.76%
Procter Gamble
8.79%
15,355
$2,491,349,000 1.67%
Invesco Sp 500 Eq Wt
5.90%
14,685
$2,487,249,000 1.67%
Home Depot, Inc.
8.67%
6,214
$2,383,690,000 1.60%
Lowes Companies Inc
13.05%
9,160
$2,333,327,000 1.57%
Paychex Inc.
9.76%
18,175
$2,231,890,000 1.50%
Jp Morgan Chase Co
5.96%
10,650
$2,133,195,000 1.43%
Automatic Data Processing Inc.
15.24%
8,035
$2,006,661,000 1.35%
Cisco Systems, Inc.
0.75%
39,577
$1,975,288,000 1.33%
Waste Management, Inc.
7.73%
9,245
$1,970,572,000 1.32%
Ishares Core Msci Eafe
19.73%
26,121
$1,938,667,000 1.30%
Johnson Johnson
6.11%
12,206
$1,930,867,000 1.30%
Alphabet Inc
13.18%
12,675
$1,929,896,000 1.30%
Sysco Corp.
11.94%
23,413
$1,900,667,000 1.28%
Bank Of America Corp.
4.59%
47,895
$1,816,178,000 1.22%
Chevron Corp.
9.61%
11,288
$1,780,569,000 1.20%
Pepsico Inc
9.52%
9,505
$1,663,470,000 1.12%
Nestle Sa
Closed
12,580
$1,514,003,000
Zoetis Inc
12.99%
8,940
$1,512,737,000 1.02%
Target Corp
4.78%
8,170
$1,447,806,000 0.97%
United Parcel Service, Inc.
5.80%
9,737
$1,447,210,000 0.97%
Starbucks Corp.
10.88%
15,560
$1,422,028,000 0.96%
Vanguard Div Appreciation
12.79%
7,673
$1,401,167,000 0.94%
Blackstone Group Inc
3.87%
10,430
$1,370,189,000 0.92%
Becton Dickinson Co
3.51%
5,505
$1,362,212,000 0.92%
Mcdonalds Corp
1.56%
4,735
$1,335,033,000 0.90%
TJX Companies, Inc.
10.58%
13,100
$1,328,602,000 0.89%
Phillips 66
12.27%
7,775
$1,269,969,000 0.85%
Valero Energy Corp.
9.73%
7,425
$1,267,373,000 0.85%
American Tower Corp.
10.86%
6,360
$1,256,672,000 0.84%
Ecolab, Inc.
7.60%
5,170
$1,193,753,000 0.80%
Visa Inc
12.53%
4,159
$1,160,694,000 0.78%
Unitedhealth Group Inc
11.55%
2,335
$1,155,125,000 0.78%
Cigna Corp
1.56%
3,150
$1,144,049,000 0.77%
Conocophillips
0.56%
8,651
$1,101,099,000 0.74%
Mondelez International Inc.
No change
15,312
$1,071,840,000 0.72%
Ishares Short Term Nat Muni Bd
Opened
10,200
$1,068,246,000 0.72%
Abbvie Inc
21.98%
5,681
$1,034,510,000 0.70%
Comcast Corp Class A
7.58%
23,774
$1,030,603,000 0.69%
RPM International, Inc.
10.36%
8,655
$1,029,512,000 0.69%
CSX Corp.
7.36%
27,690
$1,026,468,000 0.69%
Essential Utilities Inc
8.08%
27,586
$1,022,061,000 0.69%
Fidelity High Dividend
73.55%
22,475
$1,018,342,000 0.68%
Spdr Sp 500
No change
1,875
$980,756,000 0.66%
Yum Brands Inc.
No change
6,595
$914,397,000 0.61%
CVS Health Corp
9.31%
11,200
$893,312,000 0.60%
Raytheon Technologies Corp
21.29%
9,076
$885,182,000 0.59%
Ishares Short Term Nat Muni Bd
Closed
8,350
$868,734,000
Walmart Inc
210.37%
13,470
$810,490,000 0.54%
Unilever plc
Closed
14,725
$767,614,000
Ishares Core Moderate Allocati
20.00%
17,910
$766,173,000 0.51%
NextEra Energy Inc
7.21%
11,900
$760,529,000 0.51%
L3Harris Technologies Inc
19.59%
3,490
$743,719,000 0.50%
T Rowe Price Capital Apprec Eq
Opened
24,600
$743,658,000 0.50%
Pfizer Inc.
Closed
19,900
$729,932,000
Vanguard Reit
22.56%
8,410
$727,297,000 0.49%
Uber Technologies Inc
2.79%
9,200
$708,308,000 0.48%
Ishares National Muni
50.30%
6,350
$683,260,000 0.46%
Idacorp, Inc.
No change
7,336
$681,441,000 0.46%
Colgate-Palmolive Co.
11.08%
7,425
$668,621,000 0.45%
Ishares Russell Top 200 Growth
Opened
3,410
$665,291,000 0.45%
Invesco Preferred
54.43%
54,000
$641,520,000 0.43%
Waste Connections Inc
Opened
3,635
$625,256,000 0.42%
Invesco QQQ Trust
5.91%
1,385
$614,954,000 0.41%
WideOpenWest Inc
4.00%
167,898
$607,791,000 0.41%
Intel Corp.
8.07%
13,674
$603,981,000 0.41%
Vanguard Muni Bond
Closed
11,414
$573,201,000
Unifirst Corp.
Closed
3,665
$568,112,000
DuPont de Nemours Inc
0.90%
7,324
$561,531,000 0.38%
Ishares Core Sp Us Growth
1.54%
4,615
$540,924,000 0.36%
American Water Works Co. Inc.
11.99%
4,405
$538,335,000 0.36%
Ishares Core Growth Allocation
30.93%
9,296
$517,523,000 0.35%
Masco Corp.
2.29%
6,400
$504,832,000 0.34%
Lockheed Martin Corp.
13.73%
1,100
$500,357,000 0.34%
Vanguard Short Term Bond Index
63.80%
6,523
$500,081,000 0.34%
Quest Diagnostics, Inc.
No change
3,600
$479,196,000 0.32%
Ishares Ibonds Dec 2026 Term C
Opened
19,500
$465,075,000 0.31%
Consolidated Edison, Inc.
1.98%
4,950
$449,510,000 0.30%
MetLife, Inc.
29.41%
6,000
$444,660,000 0.30%
Disney Walt Company
Closed
4,962
$443,007,000
Mastercard Incorporated
1.56%
914
$440,155,000 0.30%
Intl Flavors Fragrances
Closed
5,363
$426,841,000
Ishares Ibonds Dec 2025 Term C
Opened
17,050
$423,011,000 0.28%
Clorox Co.
3.54%
2,725
$417,225,000 0.28%
Republic Services, Inc.
4.44%
2,150
$411,596,000 0.28%
Spdr Portfolio High Yield Bond
Opened
17,500
$410,550,000 0.28%
3M Co.
51.83%
3,735
$396,171,000 0.27%
Taiwan Semiconductor Mfg Adr
Opened
2,790
$379,580,000 0.26%
Cava Group Inc
Opened
5,375
$376,519,000 0.25%
Abbott Laboratories
2.96%
3,282
$373,032,000 0.25%
PayPal Holdings Inc
Closed
5,385
$359,341,000
Laboratory Corp Of America
35.62%
1,580
$345,167,000 0.23%
Elevance Health
No change
650
$337,051,000 0.23%
Union Pacific Corp.
1.15%
1,325
$325,857,000 0.22%
Ishares Msci Emergmkt Min Vol
32.93%
5,600
$316,904,000 0.21%
Vgd Consumer Discretionary
No change
985
$312,964,000 0.21%
Ishares Msci Eafe Index
Opened
3,800
$303,468,000 0.20%
Ishares Short Term Corporate
2.39%
5,859
$300,471,000 0.20%
Vgd Int Term Bond Index Fund
64.81%
3,970
$299,315,000 0.20%
Hershey Company
27.38%
1,525
$296,613,000 0.20%
Vanguard Total Stock Mkt
No change
1,115
$289,825,000 0.19%
Schwab Us Small-cap
No change
5,800
$285,592,000 0.19%
Corning, Inc.
27.88%
8,600
$283,456,000 0.19%
Ishares Ibonds Dec 2027 Term C
Opened
11,500
$273,700,000 0.18%
Bhp Billiton Ltd Adr
No change
4,700
$271,143,000 0.18%
Applied Materials Inc.
Opened
1,255
$258,819,000 0.17%
Simon Property Group, Inc.
23.53%
1,625
$254,296,000 0.17%
Coca-Cola Co
No change
4,100
$250,838,000 0.17%
Danaher Corp.
36.51%
1,000
$249,720,000 0.17%
AMGEN Inc.
Opened
870
$247,358,000 0.17%
Bristol-Myers Squibb Co.
21.43%
4,400
$238,612,000 0.16%
Kimberly-Clark Corp.
No change
1,800
$232,830,000 0.16%
EBay Inc.
Opened
4,300
$226,954,000 0.15%
Vanguard Info Technology
5.49%
430
$225,466,000 0.15%
General Mills, Inc.
Closed
2,850
$218,595,000
Genuine Parts Co.
No change
1,400
$216,902,000 0.15%
Verizon Communications Inc
52.14%
5,100
$213,996,000 0.14%
Citigroup Inc
Closed
4,500
$207,180,000
Chubb Limited
Opened
785
$203,417,000 0.14%
Honeywell International Inc
Closed
975
$202,313,000
Exxon Mobil Corp.
Opened
1,735
$201,676,000 0.14%
Erie Indemnity Co.
Opened
500
$200,785,000 0.13%
No transactions found
Showing first 500 out of 133 holdings