Godshalk Welsh Capital Management, Inc.

SEC-registered Wealth Manager · Small ($100M–$1B) CRD 106410 · SEC file 801-39857 · Radnor, PA · WWW.LINKEDIN.COM

☆ Save with Pro ADV data as of Mar 26, 2026

Regulatory AUM: $290M
Discretionary: $290M
Clients: 110
Avg AUM / client: $2.6M
Accounts: 266
Employees: 2

AUM over time

$168M $290M

Mar 22, 2012 Mar 26, 2026

Reported AUM from Form ADV filings, plotted by filing date · as of Mar 26, 2026

Investments (13F portfolio — 129 positions, $172,473,613)

13F period Mar 31, 2026

#	Issuer	Class	Value	Shares	% of 13F	% of AUM
1	Apple Inc	COM	$8,197,925	32,302	4.75%	2.82%
2	Microsoft Corporation	COM	$7,334,919	19,815	4.25%	2.52%
3	Costco Wholesale Corp	COM	$5,628,854	5,649	3.26%	1.94%
4	Alphabet Inc Cl A	COM	$5,139,847	17,874	2.98%	1.77%
5	Oracle Corp	COM	$4,333,861	29,460	2.51%	1.49%
6	Berkshire Hathaway Inc Cl B	COM	$4,328,614	9,033	2.51%	1.49%
7	I Shares I Bonds Dec 2028 Term C	ETF	$3,517,071	138,850	2.04%	1.21%
8	Globus Medical Inc A	COM	$3,446,400	40,000	2.0%	1.19%
9	Alphabet Inc Cl C	COM	$3,252,992	11,340	1.89%	1.12%
10	American Express	COM	$3,239,561	10,710	1.88%	1.12%
11	Intuit Inc	COM	$3,193,126	7,385	1.85%	1.1%
12	I Shares Russell 2000 Index	ETF	$3,155,105	12,722	1.83%	1.09%
13	I Shares I Bonds Dec 2029 Term C	ETF	$3,087,765	132,750	1.79%	1.06%
14	I Shares I Bonds Dec 2027 Term C	ETF	$3,038,120	125,335	1.76%	1.05%
15	Wr Berkley Corp	COM	$2,993,072	45,158	1.74%	1.03%
16	Johnson & Johnson	COM	$2,884,148	11,799	1.67%	0.99%
17	Invesco S&P 500 Eq Wt	ETF	$2,882,476	15,019	1.67%	0.99%
18	Cisco Systems Inc	COM	$2,876,261	37,070	1.67%	0.99%
19	Jp Morgan Chase & Co	COM	$2,793,049	9,495	1.62%	0.96%
20	I Shares Core Msci Eafe	ETF	$2,533,917	27,990	1.47%	0.87%
21	Fidelity High Dividend	ETF	$2,205,126	39,919	1.28%	0.76%
22	I Shares I Bonds Dec 2026 Term C	ETF	$2,182,206	90,025	1.27%	0.75%
23	Chevron Corp	COM	$2,167,278	10,475	1.26%	0.75%
24	Bank Of America Corp	COM	$2,148,413	44,070	1.25%	0.74%
25	I Shares I Bonds Dec 2030 Term C	ETF	$2,081,739	95,100	1.21%	0.72%

Top 25 of 129 positions from the manager's latest Form 13F · source filing (EDGAR) ↗. 13F covers long US-listed positions only. "% of AUM" is share of the firm's total regulatory AUM (Form ADV Item 5.F).

Who they serve

Client type	Clients	AUM	% of AUM
Individuals (non-high net worth)	38	$18.1M	6.22%
High net worth individuals	72	$266M	91.5%
Pension and profit sharing plans	Fewer than 5 clients	$4.9M	1.7%
Charitable organizations	Fewer than 5 clients	$1.8M	0.61%

People (1)

roster as of Jul 20, 2026

Name	Role / title	Credentials	With firm since	Ownership
Matthew William Welsh	President, Chief Compliance Officer	CFP	Jan 2008 (19y)	75% or more

Undisclosed: 0% – 25% of the firm is not attributable from the filed Schedule A bands.

Roster from the IAPD representatives feed; ownership and acquisition dates from Form ADV Schedule A/B. "Since" is the earliest filed registration or acquisition date.

Documents (1 archived)

Form	Period	Size
Form ADV (full filing)	03/26/2026	901 KB	View · PDF · Source ↗

Archived copies of the firm's regulatory filings, versioned by content hash.

Disciplinary disclosures

No disciplinary events reported on the firm's latest Form ADV filing.

How they charge

• Percentage of assets under management
• Hourly charges
• Fixed fees

Services

• Financial planning services
• Portfolio management for individuals/small businesses
• Portfolio management for businesses/institutional clients

Custody

Reported custodians

Charles Schwab & Co. $290M (100% of AUM) Mar 2026

Amounts as reported in ADV Item 5.K.(3) (custodians holding 10%+ of SMA assets).

Firm reports having custody of client funds or securities (Item 9.A).

Source

All data on this page comes from this firm's Form ADV filings, reproduced without modification. Latest filing: Mar 26, 2026.

View current Form ADV (SEC/IAPD) ↗