Merck & Co., Inc.
MX ˙ BMV ˙ US58933Y1055
SecurityMX:MRK / Merck & Co., Inc.
InstitutionGodshalk Welsh Capital Management, Inc.
Latest Disclosed Ownership11,785 shares
Latest Disclosed Value $ 1,417,618
Godshalk Welsh Capital Management, Inc. reports 3.44% decrease in ownership of MRK / Merck & Co., Inc.

On May 13, 2026 - Godshalk Welsh Capital Management, Inc. filed a 13F-HR form disclosing ownership of 11,785 shares of Merck & Co., Inc. (MX:MRK) valued at $1,417,618 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 12, 2026 disclosing 12,205 shares of Merck & Co., Inc.. This represents a change in shares of -3.44% during the quarter.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2026-05-13 2026-03-31 13F Merck COM 58933Y105 11,785 -420 -3.44 1,418 10.36 0.8219
2026-02-12 2025-12-31 13F Merck COM 58933Y105 12,205 -150 -1.21 1,285 23.94 0.7336
2025-11-14 2025-09-30 13F Merck COM 58933Y105 12,355 -650 -5.00 1,037 0.68 0.5949
2025-08-14 2025-06-30 13F Merck COM 58933Y105 13,005 -2,390 -15.52 1,029 -25.49 0.6342
2025-05-15 2025-03-31 13F Merck COM 58933Y105 15,395 -568 -3.56 1,382 -12.98 0.9039
2025-02-12 2024-12-31 13F Merck COM 58933Y105 15,963 -3,675 -18.71 1,588 -28.83 1.0250
2024-11-13 2024-09-30 13F Merck COM 58933Y105 19,638 -585 -2.89 2,230 -10.91 1.4095
2024-08-13 2024-06-30 13F Merck COM 58933Y105 20,223 -300 -1.46 2,504 -7.57 1.6693
2024-05-15 2024-03-31 13F Merck COM 58933Y105 20,523 -140 -0.68 2,708 20.25 1.8197
2024-02-12 2023-12-31 13F Merck COM 58933Y105 20,663 -1,325 -6.03 2,253 -0.49 1.6183
2023-11-14 2023-09-30 13F Merck COM 58933Y105 21,988 -750 -3.30 2,264 -13.72 1.7090
2023-08-14 2023-06-30 13F Merck COM 58933Y105 22,738 -15 -0.07 2,624 8.39 1.8067
2023-05-12 2023-03-31 13F Merck COM 58933Y105 22,753 -200 -0.87 2,421 -4.95 1.7089
2023-02-14 2022-12-31 13F Merck COM 58933Y105 22,953 -2,199 -8.74 2,547 17.54 1.8576
2022-11-14 2022-09-30 13F Merck COM 58933Y105 25,152 2,149 9.34 2,166 3.29 1.5992
2022-08-10 2022-06-30 13F Merck COM 58933Y105 23,003 -30 -0.13 2,097 10.95 1.5059
2022-05-12 2022-03-31 13F Merck COM 58933Y105 23,033 -905 -3.78 1,890 3.00 1.1614
2022-02-14 2021-12-31 13F Merck COM 58933Y105 23,938 -465 -1.91 1,835 0.11 1.0446
2021-11-12 2021-09-30 13F Merck COM 58933Y105 24,403 -475 -1.91 1,833 -3.73 1.1428
2021-08-09 2021-06-30 13F Merck COM 58933Y105 24,878 -140 -0.56 1,904 -1.30 1.1795
2021-05-13 2021-03-31 13F Merck COM 58933Y105 25,018 -110 -0.44 1,929 -6.13 1.3442
2021-02-08 2020-12-31 13F Merck COM 58933Y105 25,128 -90 -0.36 2,055 -1.77 1.5151
2020-11-12 2020-09-30 13F Merck COM 58933Y105 25,218 100 0.40 2,092 7.72 1.7650
2020-08-11 2020-06-30 13F Merck COM 58933Y105 25,118 -760 -2.94 1,942 -2.46 1.8191
2020-05-06 2020-03-31 13F Merck COM 58933Y105 25,878 -700 -2.63 1,991 -17.63 2.1643
2020-02-10 2019-12-31 13F Merck COM 58933Y105 26,578 -200 -0.75 2,417 7.23 1.9917
2019-11-12 2019-09-30 13F Merck COM 58933Y105 26,778 -25 -0.09 2,254 0.31 1.9923
2019-08-09 2019-06-30 13F Merck COM 58933Y105 26,803 -400 -1.47 2,247 -0.66 2.0768
2019-05-09 2019-03-31 13F Merck COM 58933Y105 27,203 -497 -1.79 2,262 6.85 2.1733
2019-02-12 2018-12-31 13F Merck COM 58933Y105 27,700 -28 -0.10 2,117 7.63 2.3680
2018-11-09 2018-09-30 13F Merck COM 58933Y105 27,728 -1,075 -3.73 1,967 12.53 1.9141
2018-08-09 2018-06-30 13F Merck COM 58933Y105 28,803 -600 -2.04 1,748 9.11 1.8295
2018-05-10 2018-03-31 13F Merck COM 58933Y105 29,403 50 0.17 1,602 -3.03 1.7272
2018-02-13 2017-12-31 13F Merck COM 58933Y105 29,353 -300 -1.01 1,652 -13.01 1.6720
2017-11-09 2017-09-30 13F Merck COM 58933Y105 29,653 -900 -2.95 1,899 -3.01 1.9064
2017-08-14 2017-06-30 13F Merck COM 58933Y105 30,553 50 0.16 1,958 1.03 1.9431
2017-05-11 2017-03-31 13F Merck COM 58933Y105 30,503 -300 -0.97 1,938 6.89 1.9032
2017-02-15 2016-12-31 13F Merck COM 58933Y105 30,803 -188 -0.61 1,813 -6.26 1.8549
2016-11-14 2016-09-30 13F Merck COM 58933Y105 30,991 -500 -1.59 1,934 5.63 1.9972
2016-08-12 2016-06-30 13F Merck COM 58933Y105 31,491 -930 -2.87 1,831 6.76 1.9297
2016-05-13 2016-03-31 13F Merck COM 58933Y105 32,421 -450 -1.37 1,715 -1.21 1.7766
2016-02-16 2015-12-31 13F Merck COM 58933Y105 32,871 0 0.00 1,736 6.96 1.8106
2015-11-12 2015-09-30 13F Merck COM 58933Y105 32,871 -500 -1.50 1,623 -14.58 1.7775
2015-08-12 2015-06-30 13F Merck COM 58933Y105 33,371 250 0.75 1,900 -0.21 1.9305
2015-05-12 2015-03-31 13F Merck COM 58933Y105 33,121 -960 -2.82 1,904 -1.60 1.9480
2015-02-06 2014-12-31 13F Merck COM 58933Y105 34,081 34,081 1,935 1.7617
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.