SEC 13F Intelligence

Managers / Q1 2019 · view latest →

Aspen Investment Management Inc

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

Reported Value
$143M
Q1 2019
Positions
137
Filings on Record
30
2019–present window
Filed
May 15, 2019
original filing

Summary

Aspen Investment Management Inc reported $143M in U.S.-listed holdings across 137 positions for Q1 2019.

Its largest position, IWM, represents 12.8% of the portfolio.

Compared with Q4 2018, the fund opened 11 new positions and exited 3.

Portfolio Metrics

Turnover
+1.0%
vs prior filed quarter
Top-10 Concentration
+55.8%
share of reported value
Largest Position
+12.8%
Ishares Tr
New / Exited
11 / 3
positions this quarter

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: 57.0%Common Stock: 40.6%Other: 1.8%ADR: 0.5%
  • ETP · 57.0% · $82M
  • Common Stock · 40.6% · $58M
  • Other · 1.8% · $3M
  • ADR · 0.5% · $768,000

Quarter-over-Quarter Changes full breakdown →

vs Q4 2018 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
SBUXSTARBUCKS CORPNEW+8.8K8.8K+$655,000$655,000
GOOGLALPHABET INCNEW+289289+$340,000$340,000
BSXBOSTON SCIENTIFIC CORPNEW+6.0K6.0K+$229,000$229,000
JCIJOHNSON CTLS INTL PLCNEW+5.9K5.9K+$217,000$217,000
COSTCOSTCO WHSL CORP NEWNEW+892892+$216,000$216,000
SHWSHERWIN WILLIAMS CONEW+500500+$215,000$215,000
OEFISHARES TRNEW+1.7K1.7K+$213,000$213,000
XLESELECT SECTOR SPDR TRNEW+3.2K3.2K+$209,000$209,000

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

Holdings — Q1 2019

98 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1IWMISHARES TRRUSSELL 2000 ETF · CORE MSCI EAFE · RUS 1000 VAL ETF · CORE S&P500 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 · RUS MID CAP ETF · MSCI EMG MKT ETF · S&P 100 ETF12.77%$18M211.0K
2SPYSPDR S&P 500 ETF TRhistory →TR UNIT9.36%$13M47.5K
3INVESCO EXCH TRD SLF IDX FBULSHS 2021 CB · BULSHS 2020 CB · BULSHS 2022 CB · BULSHS 2020 HY · BULSHS 2023 CB · BULSHS 2021 HY · BULSHS 2019 CB6.64%$10M440.3K
4SCHFSCHWAB 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 ETF5.97%$9M207.8K
5FTSLFIRST TR EXCHANGE-TRADED FPFD SECS INC ETF · SENIOR LN FD · DORSEY WRT 5 ETF · NO AMER ENERGY5.92%$8M318.0K
6RSPINVESCO EXCHANGE TRADED FDhistory →S&P500 EQL WGT4.36%$6M59.9K
7VNQVANGUARD INDEX FDSREAL ESTATE ETF · MID CAP ETF · SMALL CP ETF3.73%$5M49.3K
8DGRWWISDOMTREE TRUS QTLY DIV GRT · US SMALLCAP DIVD · US MIDCAP DIVID · ITL HDG QTLY DIV3.36%$5M139.8K
9MSFTMICROSOFT CORPhistory →COM2.18%$3M26.5K
10HYSPIMCO ETF TRhistory →0-5 HIGH YIELD1.55%$2M22.1K
11PYPLPAYPAL HLDGS INChistory →COM1.51%$2M20.9K
12JPMJPMORGAN CHASE & COhistory →COM1.38%$2M19.6K
13JNJJOHNSON & JOHNSONhistory →COM1.30%$2M13.4K
14AMZNAMAZON COM INChistory →COM1.27%$2M1.0K
15XLUSELECT SECTOR SPDR TRSBI INT-UTILS · TECHNOLOGY · SBI INT-FINL · ENERGY1.26%$2M35.7K
16CSXCSX CORPhistory →COM1.16%$2M22.1K
17INTCINTEL CORPhistory →COM1.09%$2M29.2K
18VVISA INCCOM CL A0.99%$1M9.1K
19AMGNAMGEN INCCOM0.95%$1M7.2K
20AAPLAPPLE INCCOM0.89%$1M6.7K
21PEPPEPSICO INCCOM0.89%$1M10.4K
22FLRNSPDR SER TRBLOMBERG BRC INV0.87%$1M40.7K
23WMTWALMART INCCOM0.86%$1M12.7K
24HDHOME DEPOT INCCOM0.85%$1M6.3K
25CVXCHEVRON CORP NEWCOM0.83%$1M9.6K
26PFEPFIZER INCCOM0.83%$1M27.9K
27EXMOCEXXON MOBIL CORPCOM0.80%$1M14.3K
28METAFACEBOOK INCCL A0.79%$1M6.8K
29LMTLOCKHEED MARTIN CORPCOM0.77%$1M3.7K
30CSCOCISCO SYS INCCOM0.76%$1M20.1K
31DOWDUPONT INCCOM0.75%$1M20.3K
32VWOVANGUARD INTL EQUITY INDEXFTSE EMR MKT ETF0.74%$1M25.1K
33ITWILLINOIS TOOL WKS INCCOM0.70%$1M7.0K
34YUMYUM BRANDS INCCOM0.70%$1M10.0K
35BACBANK AMER CORPCOM0.69%$992,00036.0K
36MDLZMONDELEZ INTL INCCL A0.67%$960,00019.2K
37ADPAUTOMATIC DATA PROCESSINGCOM0.67%$957,0006.0K
38VZVERIZON COMMUNICATIONS INCCOM0.66%$943,00015.9K
39WMWASTE MGMT INC DELCOM0.64%$913,0008.8K
40SYKSTRYKER CORPCOM0.57%$816,0004.1K
41IEMGISHARES INCCORE MSCI EMKT0.57%$815,00015.8K
42EWEDWARDS LIFESCIENCES CORPCOM0.57%$811,0004.2K
43FICOFAIR ISAAC CORPCOM0.56%$796,0002.9K
44PGPROCTER AND GAMBLE COCOM0.53%$761,0007.3K
45DISDISNEY WALT COCOM DISNEY0.51%$736,0006.6K
46WFCWELLS FARGO CO NEWCOM0.51%$735,00015.2K
47NEENEXTERA ENERGY INCCOM0.51%$732,0003.8K
48ICEINTERCONTINENTAL EXCHANGECOM0.50%$711,0009.3K
49MDTMEDTRONIC PLCSHS0.48%$694,0007.6K
50ADBEADOBE INCCOM0.47%$678,0002.5K
51SBUXSTARBUCKS CORPCOM0.46%$655,0008.8K
52CATCATERPILLAR INC DELCOM0.45%$647,0004.8K
53CHEMICAL FINL CORPCOM0.44%$635,00015.4K
54DUKDUKE ENERGY CORP NEWCOM NEW0.42%$596,0006.6K
55GSGOLDMAN SACHS GROUP INCCOM0.40%$576,0003.0K
56HSBCHSBC HLDGS PLCSPON ADR NEW0.40%$568,00014.0K
57ABTABBOTT LABSCOM0.38%$539,0006.7K
58MRKMERCK & CO INCCOM0.36%$518,0006.2K
59KOCOCA COLA COCOM0.36%$513,00010.9K
60SCHWTHE CHARLES SCHWAB CORPORACOM0.35%$500,00011.7K
61BMYBRISTOL MYERS SQUIBB COCOM0.35%$500,00010.5K
62TXNTEXAS INSTRS INCCOM0.32%$463,0004.4K
63ABBVABBVIE INCCOM0.32%$455,0005.6K
64AXPAMERICAN EXPRESS COCOM0.31%$451,0004.1K
65COPCONOCOPHILLIPSCOM0.31%$445,0006.7K
66TMOTHERMO FISHER SCIENTIFIC ICOM0.31%$438,0001.6K
67ORCLORACLE CORPCOM0.30%$435,0008.1K
68INGERSOLL-RAND PLCSHS0.30%$430,0004.0K
69CCITIGROUP INCCOM NEW0.30%$426,0006.9K
70SDYSPDR SERIES TRUSTS&P DIVID ETF0.28%$402,0004.0K
71MOALTRIA GROUP INCCOM0.27%$381,0006.6K
72GOOGLALPHABET INCCAP STK CL A0.24%$340,000289
73FITBFIFTH THIRD BANCORPCOM0.23%$323,00012.8K
74IBMINTERNATIONAL BUSINESS MACCOM0.22%$321,0002.3K
75MMM3M COCOM0.21%$304,0001.5K
76VIGVANGUARD GROUPDIV APP ETF0.21%$295,0002.7K
77YUMCYUM CHINA HLDGS INCCOM0.21%$294,0006.5K
78TAT&T INCCOM0.19%$270,0008.6K
79DTEDTE ENERGY COCOM0.19%$270,0002.2K
80WMBWILLIAMS COS INC DELCOM0.19%$267,0009.3K
81NEARISHARES US ETF TRSHT MAT BD ETF0.19%$266,0005.3K
82CBCHUBB LIMITEDCOM0.18%$264,0001.9K
83UTXZUNITED TECHNOLOGIES CORPCOM0.18%$258,0002.0K
84GENERAL ELECTRIC COCOM0.18%$256,00025.6K
85GSGISHARES S&P GSCI COMMODITYUNIT BEN INT0.17%$239,00015.0K
86TRVTRAVELERS COMPANIES INCCOM0.17%$238,0001.7K
87GLWCORNING INCCOM0.17%$237,0007.1K
88BSXBOSTON SCIENTIFIC CORPCOM0.16%$229,0006.0K
89MARATHON OIL CORPCOM0.15%$220,00013.1K
90JCIJOHNSON CTLS INTL PLCSHS0.15%$217,0005.9K
91COSTCOSTCO WHSL CORP NEWCOM0.15%$216,000892
92SHWSHERWIN WILLIAMS COCOM0.15%$215,000500
93UMPQUA HLDGS CORPCOM0.15%$211,00012.8K
94UNHUNITEDHEALTH GROUP INCCOM0.14%$203,000823
95UNPUNION PACIFIC CORPCOM0.14%$201,0001.2K
96DEDEERE & COCOM0.14%$200,0001.2K
97BPBP PLCSPONSORED ADR0.14%$200,0004.6K
98HBANHUNTINGTON BANCSHARES INCCOM0.14%$199,00015.7K

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 ↗.