SEC 13F Intelligence

Managers / Q4 2018 · view latest →

Aspen Investment Management Inc

CIK 0001541596 · 4020 E BELTLINE NE SUITE 103, GRAND RAPIDS, MI, 49525 · 616-361-2500

Reported Value
$125M
Q4 2018
Positions
129
Filings on Record
30
2019–present window
Filed
Feb 15, 2019
original filing

Summary

Aspen Investment Management Inc reported $125M in U.S.-listed holdings across 129 positions for Q4 2018.

Its largest position, IWM, represents 13.0% of the portfolio.

Portfolio Metrics

Top-10 Concentration
+56.3%
share of reported value
Largest Position
+13.0%
Ishares Tr

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded, with multiple share classes and repeated sub-manager rows for the same issuer combined into one position — the same rule the holdings table uses by default. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’18: $125MQ4 ’18Q1 ’19: $143MQ2 ’19: $152MQ3 ’19: $150MQ4 ’19: $160MQ4 ’19Q1 ’20: $115MQ2 ’20: $140MQ3 ’20: $150MQ4 ’20: $169MQ4 ’20Q2 ’21: $191MQ4 ’21: $203MQ1 ’22: $191MQ2 ’22: $160MQ2 ’22Q3 ’22: $150MQ4 ’22: $153MQ1 ’23: $156MQ2 ’23: $168MQ2 ’23Q3 ’23: $165MQ4 ’23: $179MQ1 ’24: $197MQ2 ’24: $200MQ2 ’24Q3 ’24: $214MQ4 ’24: $215MQ1 ’25: $217MQ2 ’25: $238MQ2 ’25Q3 ’25: $259MQ4 ’25: $332MQ1 ’26: $327Mfilingsflow.com

Portfolio Composition

By security type
ETP: 57.5%Common Stock: 40.4%Other: 1.6%ADR: 0.5%
  • ETP · 57.5% · $72M
  • Common Stock · 40.4% · $50M
  • Other · 1.6% · $2M
  • ADR · 0.5% · $576,000

Quarter-over-Quarter Changes full breakdown →

IssuerMoveShare ΔShares nowValue ΔValue now
SPYSPDR S&P 500 ETF TRNEW+46.8K46.8K+$12M$12M
RSPINVESCO EXCHANGE TRADED FD TNEW+53.4K53.4K+$5M$5M
IWMISHARES TRNEW+33.0K33.0K+$4M$4M
FIRST TR EXCHANGE-TRADED FDNEW+211.2K211.2K+$4M$4M
FTSLFIRST TR EXCHANGE TRADED FDNEW+76.4K76.4K+$3M$3M
MSFTMICROSOFT CORPNEW+26.6K26.6K+$3M$3M
INVESCO EXCH TRD SLF IDX FDNEW+124.3K124.3K+$3M$3M
VNQVANGUARD INDEX FDSNEW+34.3K34.3K+$3M$3M

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q4 2018

91 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1IWMISHARES TRRUSSELL 2000 ETF · CORE MSCI EAFE · CORE S&P500 ETF · RUS 1000 VAL ETF · INTRM TR CRP ETF · SH TR CRPORT ETF · MSCI EAFE ETF · NASDAQ BIOTECH · RUS 1000 GRW ETF · RUS 1000 ETF · INTL SEL DIV ETF · CHINA LG-CAP ETF · MSCI INDIA ETF · RUS MID CAP ETF · MSCI EMG MKT ETF13.03%$16M213.6K
2SPYSPDR S&P 500 ETF TRhistory →TR UNIT9.38%$12M46.8K
3FTSLFIRST TR EXCHANGE-TRADED FDPFD SECS INC ETF · SENIOR LN FD · DORSEY WRT 5 ETF · NO AMER ENERGY6.38%$8M317.1K
4INVESCO EXCH TRD SLF IDX FDBULSHS 2020 CB · BULSHS 2021 CB · BULSHS 2020 HY · BULSHS 2022 CB · BULSHS 2021 HY · BULSHS 2019 CB · BULSHS 2023 CB6.35%$8M371.4K
5SCHFSCHWAB STRATEGIC TRINTL EQTY ETF · US LRG CAP ETF · US SML CAP ETF · INTL SCEQT ETF · EMRG MKTEQ ETF · US MID-CAP ETF · 1000 INDEX ETF · US BRD MKT ETF · US LCAP VA ETF6.19%$8M207.9K
6RSPINVESCO EXCHANGE TRADED FD Thistory →S&P500 EQL WGT3.91%$5M53.4K
7VNQVANGUARD INDEX FDSREAL ESTATE ETF · MID CAP ETF · SMALL CP ETF3.66%$5M48.9K
8DGRWWISDOMTREE TRUS QTLY DIV GRT · US SMALLCAP DIVD · US MIDCAP DIVID · ITL HDG QTLY DIV3.51%$4M142.6K
9MSFTMICROSOFT CORPhistory →COM2.17%$3M26.6K
10HYSPIMCO ETF TRhistory →0-5 HIGH YIELD1.72%$2M22.5K
11JPMJPMORGAN CHASE & COhistory →COM1.55%$2M19.7K
12PYPLPAYPAL HLDGS INChistory →COM1.41%$2M20.9K
13JNJJOHNSON & JOHNSONhistory →COM1.40%$2M13.5K
14AMZNAMAZON COM INChistory →COM1.21%$2M1.0K
15CSXCSX CORPhistory →COM1.12%$1M22.6K
16AMGNAMGEN INChistory →COM1.12%$1M7.2K
17INTCINTEL CORPhistory →COM1.10%$1M29.2K
18PFEPFIZER INCCOM0.98%$1M27.9K
19VVISA INCCOM CL A0.96%$1M9.1K
20EXMOCEXXON MOBIL CORPCOM0.96%$1M17.5K
21WMTWALMART INCCOM0.94%$1M12.6K
22PEPPEPSICO INCCOM0.92%$1M10.4K
23FLRNSPDR SER TRBLOMBERG BRC INV0.92%$1M37.7K
24DOWDUPONT INCCOM0.90%$1M21.0K
25HDHOME DEPOT INCCOM0.87%$1M6.3K
26CVXCHEVRON CORP NEWCOM0.84%$1M9.6K
27XLUSELECT SECTOR SPDR TRSBI INT-UTILS · TECHNOLOGY · SBI INT-FINL0.81%$1M24.6K
28LMTLOCKHEED MARTIN CORPCOM0.78%$967,0003.7K
29VWOVANGUARD INTL EQUITY INDEX FFTSE EMR MKT ETF0.77%$965,00025.3K
30YUMYUM BRANDS INCCOM0.74%$924,00010.0K
31VZVERIZON COMMUNICATIONS INCCOM0.72%$897,00015.9K
32METAFACEBOOK INCCL A0.72%$893,0006.8K
33ITWILLINOIS TOOL WKS INCCOM0.71%$887,0007.0K
34BACBANK AMER CORPCOM0.71%$886,00036.0K
35CSCOCISCO SYS INCCOM0.70%$869,00020.1K
36AAPLAPPLE INCCOM0.68%$853,0005.4K
37ADPAUTOMATIC DATA PROCESSING INCOM0.66%$824,0006.3K
38WMWASTE MGMT INC DELCOM0.63%$782,0008.8K
39MDLZMONDELEZ INTL INCCL A0.62%$769,00019.2K
40WFCWELLS FARGO CO NEWCOM0.61%$766,00016.6K
41IEMGISHARES INCCORE MSCI EMKT0.59%$738,00015.7K
42DISDISNEY WALT COCOM DISNEY0.58%$727,0006.6K
43ICEINTERCONTINENTAL EXCHANGE INCOM0.56%$703,0009.3K
44MDTMEDTRONIC PLCSHS0.56%$693,0007.6K
45PGPROCTER AND GAMBLE COCOM0.54%$669,0007.3K
46EWEDWARDS LIFESCIENCES CORPCOM0.53%$662,0004.3K
47NEENEXTERA ENERGY INCCOM0.50%$619,0003.6K
48CATCATERPILLAR INC DELCOM0.49%$607,0004.8K
49ADBEADOBE INCCOM0.48%$596,0002.6K
50HSBCHSBC HLDGS PLCSPON ADR NEW0.46%$576,00014.0K
51SYKSTRYKER CORPCOM0.46%$572,0003.6K
52DUKDUKE ENERGY CORP NEWCOM NEW0.46%$572,0006.6K
53CHEMICAL FINL CORPCOM0.45%$565,00015.4K
54BMYBRISTOL MYERS SQUIBB COCOM0.45%$560,00010.8K
55FICOFAIR ISAAC CORPCOM0.44%$553,0003.0K
56ABBVABBVIE INCCOM0.42%$520,0005.6K
57KOCOCA COLA COCOM0.42%$518,00010.9K
58GSGOLDMAN SACHS GROUP INCCOM0.40%$501,0003.0K
59ABTABBOTT LABSCOM0.39%$488,0006.7K
60SCHWSCHWAB CHARLES CORP NEWCOM0.39%$485,00011.7K
61MRKMERCK & CO INCCOM0.38%$476,0006.2K
62COPCONOCOPHILLIPSCOM0.33%$416,0006.7K
63TXNTEXAS INSTRS INCCOM0.33%$412,0004.4K
64AXPAMERICAN EXPRESS COCOM0.32%$393,0004.1K
65ORCLORACLE CORPCOM0.30%$371,0008.2K
66TMOTHERMO FISHER SCIENTIFIC INCCOM0.29%$358,0001.6K
67CCITIGROUP INCCOM NEW0.29%$357,0006.9K
68INGERSOLL-RAND PLCSHS0.27%$341,0003.7K
69MOALTRIA GROUP INCCOM0.27%$333,0006.7K
70UTXZUNITED TECHNOLOGIES CORPCOM0.26%$326,0003.1K
71METMETLIFE INCCOM0.25%$315,0007.7K
72FITBFIFTH THIRD BANCORPCOM0.24%$301,00012.8K
73TAT&T INCCOM0.24%$298,00010.5K
74MMM3M COCOM0.22%$278,0001.5K
75VIGVANGUARD GROUPDIV APP ETF0.21%$268,0002.7K
76NEARISHARES US ETF TRSHT MAT BD ETF0.21%$264,0005.3K
77GLDSPDR GOLD TRUSTGOLD SHS0.21%$264,0002.2K
78IBMINTERNATIONAL BUSINESS MACHSCOM0.21%$259,0002.3K
79CBCHUBB LIMITEDCOM0.19%$243,0001.9K
80DTEDTE ENERGY COCOM0.19%$239,0002.2K
81SDYSPDR SERIES TRUSTS&P DIVID ETF0.18%$228,0002.5K
82YUMCYUM CHINA HLDGS INCCOM0.18%$222,0006.6K
83GLWCORNING INCCOM0.17%$216,0007.1K
84MARATHON OIL CORPCOM0.17%$210,00014.6K
85GSGISHARES S&P GSCI COMMODITY IUNIT BEN INT0.17%$210,00015.0K
86TRVTRAVELERS COMPANIES INCCOM0.17%$208,0001.7K
87WMBWILLIAMS COS INC DELCOM0.16%$205,0009.3K
88UNHUNITEDHEALTH GROUP INCCOM0.16%$205,000823
89UMPQUA HLDGS CORPCOM0.16%$204,00012.8K
90GENERAL ELECTRIC COCOM0.16%$204,00027.0K
91HBANHUNTINGTON BANCSHARES INCCOM0.15%$190,00015.9K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$327M171Apr 15, 202613F-HRchanges · EDGAR ↗
Q4 2025$332M177Feb 6, 202613F-HRchanges · EDGAR ↗
Q3 2025$259M149Nov 12, 202513F-HRchanges · EDGAR ↗
Q2 2025$238M147Aug 11, 202513F-HRchanges · EDGAR ↗
Q1 2025$217M146May 20, 202513F-HRchanges · EDGAR ↗
Q4 2024$215M141Feb 3, 202513F-HRchanges · EDGAR ↗
Q3 2024$214M147Nov 8, 202413F-HRchanges · EDGAR ↗
Q2 2024$200M148Jul 26, 202413F-HRchanges · EDGAR ↗
Q1 2024$197M153Apr 26, 202413F-HRchanges · EDGAR ↗
Q4 2023$179M140Feb 9, 202413F-HRchanges · EDGAR ↗
Q3 2023$165M138Nov 1, 202313F-HRchanges · EDGAR ↗
Q2 2023$168M139Jul 28, 202313F-HRchanges · EDGAR ↗
Q1 2023$156M128May 16, 202313F-HRchanges · EDGAR ↗
Q4 2022$153M125Feb 6, 202313F-HRchanges · EDGAR ↗
Q3 2022$150M128Nov 9, 202213F-HRchanges · EDGAR ↗
Q2 2022$160M137Aug 15, 202213F-HRchanges · EDGAR ↗
Q1 2022$191M143May 11, 202213F-HRchanges · EDGAR ↗
Q4 2021$203M140Jan 26, 202213F-HRchanges · EDGAR ↗
Q2 2021$191M145Aug 4, 202113F-HRchanges · EDGAR ↗
Q4 2020$169M134Jan 25, 202113F-HRchanges · EDGAR ↗
Q3 2020$150M123Nov 30, 202013F-HRchanges · EDGAR ↗
Q2 2020$140M117Aug 6, 202013F-HRchanges · EDGAR ↗
Q1 2020$115M105May 15, 202013F-HRchanges · EDGAR ↗
Q4 2019$160M130Feb 14, 202013F-HRchanges · EDGAR ↗
Q3 2019$150M131Nov 13, 201913F-HRchanges · EDGAR ↗
Q2 2019$152M136Aug 12, 201913F-HRchanges · EDGAR ↗
Q1 2019$143M137May 15, 201913F-HRchanges · EDGAR ↗
Q4 2018$125M129Feb 15, 201913F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.