Godshalk Welsh Capital Management, Inc. Q3 and Q4 2022: An Analysis of Holdings Changes

Godshalk Welsh Capital Management, Inc., a registered investment advisor, recently filed its 13F form with the Securities and Exchange Commission, disclosing its equity holdings as of the end of Q3 and Q4 2022. The filing indicates that the firm's total portfolio was valued at over $100 million at the end of Q3, while its Q4 portfolio was worth around $96 million.

In this blog post, we'll take a closer look at Godshalk Welsh's top holdings, analyzing the changes in the number of shares held and the percentage change in value from Q3 to Q4.

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Microsoft Corporation (MSFT) - Despite a 3.3% decrease in the number of shares held by Godshalk Welsh, Microsoft held onto its top position in terms of the value of the shares held. The Q3 portfolio valued MSFT at $6.95 million, while the Q4 portfolio valued it at $6.71 million. This can be attributed to the dip in MSFT's stock price during Q4.

Apple Inc (AAPL) - The second top holding, Apple, saw a total of 4,762, or 13.2%, shares sold by Godshalk Welsh between Q3 and Q4. While the Q3 portfolio valued AAPL at $6.78 million, the Q4 portfolio valued it at $5.88 million, marking a loss of 13.2% in value. Considering the AirPods Max and new MacBook Pros launches, a dip in value is somewhat unexpected.

Globus Medical Inc (GMED) - This leading medical device manufacturing company saw its value rise from $5.8 million to $5.37 million between Q3 and Q4, while the number of shares held declined by 25,777. This signals that Godshalk Welsh Capital Management still has faith in the company, despite selling some of its shares.

Intuit Inc (INTU) - Godshalk Welsh's shares in Intuit, a leading software company, decreased by 285 shares, or 2.4%, from Q3 to Q4. The Q4 portfolio valued INTU at $3.7 million, whereas the Q3 portfolio valued it at $3.79 million, signaling a 2.4% decrease in value in the stock.

Berkshire Hathaway Inc Cl B (BRK-B) - Another leading holding of Godshalk Welsh is Berkshire Hathaway, a multinational conglomerate holding company. The Q4 portfolio valued BRK-B at $3.64 million, a 13.6% increase over the $3.2 million valuation in Q3. Interestingly, the number of shares held declined by 220 between Q3 and Q4.

Looking at the table, other notable holdings include Johnson & Johnson (JNJ), which saw a decrease in both the number of shares held and its value. In contrast, the portfolios gained from investments in Merck & Co (MRK), Procter & Gamble (PG), and Oracle Corp (ORCL), each of which saw a percentage increase in value from Q3 to Q4.

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In conclusion, Godshalk Welsh Capital Management Inc's 13F filing highlights some interesting changes in the firm's equity holdings from Q3 to Q4. Despite a dip in the overall value of the portfolio, the company managed to maintain faith in some of its key holdings such as Microsoft, and Berkshire Hathaway. The decrease in holdings for Apple and Johnson & Johnson signals that the firm may not be as confident in these companies when compared to their other holdings. It is important to note that these reports are filed quarterly and that changes in their investments may happen more frequently than this report suggests.