Instuitional Investor - Godshalk Welsh Capital Management, Inc.

13F Holdings

Filing Period:

No.	Security	Ticker	Shares	Value	% Port
1.	Microsoft Corp	MSFT	20,330	$10,529,924	6.04%
2.	Apple Inc.	AAPL	33,327	$8,486,054	4.87%
3.	Oracle Corp	ORCL	29,725	$8,359,859	4.8%
4.	Costco Wholesale Corp W	COST	5,778	$5,348,309	3.07%
5.	Intuit Inc.	INTU	7,475	$5,104,752	2.93%