ORSER CAPITAL MANAGEMENT, LLC

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CIK 1785717

13F portfolio (2026-Q1)

$153M

Positions

Implied 1Y CAGR

modeled · as filed

Long positions in SEC Section 13(f) securities (US-listed stocks, ADRs and ETFs), largest first · Δ vs 2025-Q4. A lagged quarterly snapshot (filed ≤45 days after quarter-end); excludes shorts, options, cash, and shares listed only on non-US exchanges — foreign companies held via a US listing or ADR (e.g. Alibaba, TSMC) ARE included.

Implied return what this book implies · modeled, not advice methodology →

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As filed = each book applied at its quarter-end (what the reported book did) · As copyable = applied at its statutory 45-day filing deadline (what a 13F follower could have earned).

Computing…

Hypothetical modeled performance constructed with hindsight — not actual results, and not indicative of future results. See the Disclaimer.

Exposures · what this manager owns, by sector & size (2026-Q1)

Holdings

Top 5

38.1%

Top 10

58.5%

Effective N

21.1

HHI

0.047

This quarter

0 new · 0 exit →

By sector

Unclassified42.8%

Information Technology21.6%

Consumer Discretionary10.1%

Materials6.3%

Financials5.9%

Communication Services5.6%

Industrials4.3%

Energy1.4%

Other1.8%

By market cap

Unknown42.8%

Mega (>$200B)40.1%

Large ($10–200B)15.5%

Mid ($2–10B)1.6%

By region

North America57.2%

Other42.8%

By industry group GICS — finer than sector

Industry group	Weight	Names
Unclassified	45.31%	17
Semiconductors & Semiconductor Equipment	10.82%	4
Specialty Retail	9.07%	4
Technology Hardware & Equipment	6.33%	2
Metals & Mining	6.32%	1
Software & IT Services	5.60%	1
Commercial Services & Supplies	4.56%	3
Software	3.84%	3
Oil, Gas & Consumable Fuels	1.41%	1
Pharmaceuticals & Biotechnology	1.24%	2
Road & Rail	1.11%	1
Distributors	1.05%	1
Aerospace & Defense	0.81%	1
Machinery	0.80%	1
Electrical Equipment & Components	0.65%	1
Beverages	0.59%	2
Capital Markets	0.49%	1

Top holdings

#	Ticker	Name	Sector	Weight
1	VGSH	VANGUARD SHORT-TERM TREASURY ETF	Unclassified	11.02%
2	NVDA	NVIDIA CORP	Information Technology	9.09%
3	CRS	CARPENTER TECHNOLOGY CORP	Materials	6.32%
4	IQLT	ISHARES TR	Unclassified	6.04%
5	GOOGL	Alphabet Inc.	Communication Services	5.60%
6	AAPL	Apple Inc.	Information Technology	5.57%
7	VOO	VANGUARD INDEX FDS	Unclassified	4.35%
8	VTV	VANGUARD INDEX FDS	Unclassified	3.75%
9	VGT	VANGUARD WORLD FD	Unclassified	3.43%
10	AMZN	AMAZON COM INC	Consumer Discretionary	3.32%

30/46 names classified · sector 57.2% of weight · industry 54.7% · mkt cap 57.2%; unclassified names shown, never dropped.

Sector allocation over time · how the GICS mix & top names shifted quarter by quarter

top 5/sector, rest → “Other” · 34 quarters

Information TechnologyNVDA, AAPL, WK, MSFT, TMO · other

Consumer DiscretionaryAMZN, HD, COST, CASY, ULTA · other

IndustrialsWM, NOC, ESLT, BA, CSX · other

FinancialsMA, BRK.B, PYPL, CFR, BAC · other

Health CareZTS, BAX, EW, JNJ, BMY · other

MaterialsCL, CRS, CLX, NKE, APD · other

Communication ServicesGOOGL, META, NFLX, DKNG

Consumer StaplesPEP, FRPT, KO, CELH

EnergyRRC, EOG, CVX, OXY, DVN · other

UtilitiesEPD, WMB, OKE, NEE

Real Estate

UnclassifiedVGSH, IQLT, VUG, VOO, FLRN · other

Sector is classified on each name's CURRENT fundamentals, not point-in-time — apparent sector drift can reflect the market re-rating a holding, not a manager trade. 13F is a lagged quarterly snapshot of long positions in US-listed securities only — foreign companies held via a US listing or ADR ARE included, but shares listed only on non-US exchanges (plus shorts, options and cash) are not. Latest quarter: 57.2% of the book is sector-classified (unclassified names shown, never dropped).

Style box · size × value-growth placement of the reported book (2026-Q1), classified on current fundamentals (not point-in-time) — load it into PORT to overlay your own portfolio

holdings, colored by sector (28 classified)ORSER CAPITAL MANAGEMENT, LLC centroid (Large Growth)

Information TechnologyConsumer DiscretionaryMaterialsCommunication ServicesIndustrialsFinancialsEnergyHealth CareConsumer Staples

Style box summary for ORSER CAPITAL MANAGEMENT, LLC: centroid Large Growth. Heaviest cells: Large Growth 33.4%, Mid Growth 8.2%, Large Core 7.2%.

Classified: 54.5% of book weight (28/46 names) · unclassified 45.5%: VGSH, IQLT, VOO, VTV, VGT, VSGX, BRK.B, IWF, VUG, VIG +8 more. Size: cap 70/20/10 bands; style: value/growth composite on our own metrics — not Morningstar's model.

Contribution holdings-based, any period

No contribution data for this period.

Holdings· 46 positions (2026-Q1) · largest first · Δ vs 2025-Q4

#	Security	Shares	Value	Weight	Δ QoQ
1	VGSHVANGUARD SHORT-TERM TREASURY ETF	287,915	$17M	11.0%	TRIM −2%
2	NVDANVIDIA CORPORATION	79,703	$14M	9.1%	TRIM −14%
3	CRSCARPENTER TECHNOLOGY CORP	24,543	$10M	6.3%	HOLD
4	IQLTISHARES TR	48,140	$9M	6.0%	HOLD
5	GOOGLALPHABET INC	29,764	$9M	5.6%	HOLD
6	AAPLAPPLE INC	33,581	$9M	5.6%	HOLD
7	VOOVANGUARD INDEX FDS	11,141	$7M	4.4%	HOLD
8	VTVVANGUARD INDEX FDS	29,207	$6M	3.7%	HOLD
9	VGTVANGUARD WORLD FD	7,525	$5M	3.4%	ADD 36%
10	AMZNAMAZON COM INC	24,391	$5M	3.3%	HOLD
11	MSFTMICROSOFT CORP	12,710	$5M	3.1%	HOLD
12	VSGXVANGUARD WORLD FD	61,080	$4M	2.9%	ADD 77%
13	MAMASTERCARD INCORPORATED	8,248	$4M	2.7%	HOLD
14	BRK.BBERKSHIRE HATHAWAY INC DEL	7,970	$4M	2.5%	TRIM −2%
15	IWFISHARES TR	8,736	$4M	2.4%	HOLD
16	VUGVANGUARD INDEX FDS	7,912	$3M	2.3%	HOLD
17	VIGVANGUARD SPECIALIZED FUNDS	15,190	$3M	2.1%	ADD 131%
18	HDHOME DEPOT INC	8,977	$3M	1.9%	HOLD
19	CASYCASEYS GEN STORES INC	4,023	$3M	1.9%	HOLD
20	WMTWALMART INC	23,474	$3M	1.9%	HOLD
21	SCHKSCHWAB STRATEGIC TR	81,817	$3M	1.7%	HOLD
22	WMWASTE MGMT INC DEL	10,700	$2M	1.6%	HOLD
23	RRCRANGE RES CORP	47,777	$2M	1.4%	ADD 4%
24	UNPUNION PAC CORP	6,985	$2M	1.1%	ADD 4%
25	VVVANGUARD INDEX FDS	5,415	$2M	1.1%	HOLD
26	RSRELIANCE INC	5,300	$2M	1.1%	ADD 3%
27	ADIANALOG DEVICES INC	4,352	$1M	0.9%	ADD 9%
28	JNJJOHNSON & JOHNSON	5,517	$1M	0.9%	ADD 6%
29	HONHONEYWELL INTL INC	5,496	$1M	0.8%	ADD 20%
30	CATCATERPILLAR INC	1,729	$1M	0.8%	ADD 16%
31	DHRDANAHER CORP DEL	6,106	$1M	0.8%	HOLD
32	VGUSVANGUARD INSTL INDEX FD	13,230	$1M	0.7%	HOLD
33	GEGE AEROSPACE	3,492	$990,925	0.6%	ADD 32%
34	AVGOBROADCOM INC	3,150	$974,957	0.6%	ADD 28%
35	ORCLORACLE CORP	6,310	$928,264	0.6%	ADD 28%
36	SCHWSCHWAB CHARLES CORP	7,936	$745,825	0.5%	ADD 20%
37	KOCOCA COLA CO	8,368	$636,386	0.4%	HOLD
38	XLISELECT SECTOR SPDR TR	3,670	$593,549	0.4%	HOLD
39	ZTSZOETIS INC	4,624	$546,603	0.4%	ADD 3%
40	XLPSELECT SECTOR SPDR TR	4,320	$470,794	0.3%	HOLD
41	VVISA INC	1,302	$393,516	0.3%	HOLD
42	VCSHVANGUARD SCOTTSDALE FDS	4,930	$390,801	0.3%	TRIM −95%
43	XHSSPDR SERIES TRUST	2,000	$293,220	0.2%	TRIM −2%
44	TXNTEXAS INSTRS INC	1,470	$285,386	0.2%	HOLD
45	PEPPEPSICO INC	1,710	$265,546	0.2%	HOLD
46	WKWORKIVA INC	3,972	$236,850	0.2%	TRIM −92%

Position trends· top 15 holdings · shares held over 6 quarters

green added · red trimmed

Security

2024-Q4

2025-Q1

2025-Q2

2025-Q3

2025-Q4

2026-Q1

Latest value

VGSHVANGUARD SHORT-TERM TREASURY ETF

—

177K

269K

295K

288K

$17M

NVDANVIDIA CORPORATION

122K

96K

95K

93K

92K

80K

$14M

CRSCARPENTER TECHNOLOGY CORP

31K

29K

27K

25K

$10M

IQLTISHARES TR

71K

64K

28K

48K

49K

48K

$9M

GOOGLALPHABET INC

32K

31K

30K

$9M

AAPLAPPLE INC

36K

34K

$9M

VOOVANGUARD INDEX FDS

22K

21K

12K

11K

$7M

VTVVANGUARD INDEX FDS

55K

49K

30K

29K

$6M

VGTVANGUARD WORLD FD

—

$5M

AMZNAMAZON COM INC

25K

24K

$5M

MSFTMICROSOFT CORP

13K

14K

13K

$5M

VSGXVANGUARD WORLD FD

—

36K

33K

35K

61K

$4M

MAMASTERCARD INCORPORATED

$4M

BRK.BBERKSHIRE HATHAWAY INC DEL

$4M

IWFISHARES TR

$4M

Shares reported each quarter by the largest current holdings. Green = added vs the prior filing of that name, red = trimmed, grey = roughly held; a dash is a quarter with no 13F on file (a gap is skipped, not read as an exit). 13F is filed up to 45 days after quarter-end. Up to 40 quarters (10 years) available — use the selector above.

☆ORSER CAPITAL MANAGEMENT, LLC