Instuitional Investor - Godshalk Welsh Capital Management, Inc.

13F Holdings

Filing Period:

No.	Security	Ticker	Shares	Value	% Port
1.	Microsoft Corp	MSFT	21,434	$8,046,109	5.26%
2.	Apple Inc.	AAPL	35,977	$7,991,571	5.23%
3.	Costco Wholesale Corp W	COST	6,131	$5,798,597	3.79%
4.	Berkshire Hathaway Inc	BRK.A	10,063	$5,359,353	3.51%
5.	Intuit Inc.	INTU	7,730	$4,746,143	3.1%