SEC 13F Intelligence

Managers / Q2 2019 · view latest →

Aspen Investment Management Inc

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

Reported Value
$152M
Q2 2019
Positions
136
Filings on Record
30
2019–present window
Filed
Aug 12, 2019
original filing

Summary

Aspen Investment Management Inc reported $152M in U.S.-listed holdings across 136 positions for Q2 2019.

Its largest position, IWM, represents 12.2% of the portfolio.

Compared with Q1 2019, the fund opened 3 new positions and exited 4.

Portfolio Metrics

Turnover
+2.0%
vs prior filed quarter
Top-10 Concentration
+55.9%
share of reported value
Largest Position
+12.2%
Ishares Tr
New / Exited
3 / 4
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: 56.9%Common Stock: 41.3%Other: 1.5%ADR: 0.4%
  • ETP · 56.9% · $86M
  • Common Stock · 41.3% · $63M
  • Other · 1.5% · $2M
  • ADR · 0.4% · $572,000

Quarter-over-Quarter Changes full breakdown →

vs Q1 2019 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
DDDUPONT DE NEMOURS INCNEW+6.7K6.7K+$499,000$499,000
DOWDOW INCNEW+6.4K6.4K+$317,000$317,000
LYFTLYFT INCNEW+3.8K3.8K+$248,000$248,000
SDYSPDR SERIES TRUSTADDED+5.5K9.6K+$563,000$965,000
DOWDUPONT INCSOLD OUT−20.3K0−$1M$0
SCHVSCHWAB STRATEGIC TRSOLD OUT−4.4K0−$241,000$0
XLESELECT SECTOR SPDR TRSOLD OUT−3.2K0−$209,000$0
BPBP PLCSOLD OUT−4.6K0−$200,000$0

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

Holdings — Q2 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 · MSCI EMG MKT ETF · RUS MID CAP ETF · S&P 100 ETF12.23%$19M211.6K
2SPYSPDR S&P 500 ETF TRhistory →TR UNIT9.24%$14M47.9K
3INVESCO EXCH TRD SLF IDX FDBULSHS 2021 CB · BULSHS 2020 CB · BULSHS 2022 CB · BULSHS 2023 CB · BULSHS 2020 HY · BULSHS 2021 HY · BULSHS 2019 CB7.53%$11M525.4K
4FTSLFIRST TR EXCHANGE-TRADED FDPFD SECS INC ETF · SENIOR LN FD · DORSEY WRT 5 ETF · NO AMER ENERGY5.89%$9M332.9K
5SCHXSCHWAB STRATEGIC TRUS LRG CAP ETF · INTL EQTY ETF · US SML CAP ETF · INTL SCEQT ETF · EMRG MKTEQ ETF · US MID-CAP ETF · 1000 INDEX ETF · US BRD MKT ETF5.79%$9M208.0K
6RSPINVESCO EXCHANGE TRADED FD Thistory →S&P500 EQL WGT4.47%$7M63.0K
7VNQVANGUARD INDEX FDSREAL ESTATE ETF · MID CAP ETF · SMALL CP ETF3.61%$5M49.6K
8DGRWWISDOMTREE TRUS QTLY DIV GRT · US SMALLCAP DIVD · US MIDCAP DIVID · ITL HDG QTLY DIV3.21%$5M140.7K
9MSFTMICROSOFT CORPhistory →COM2.31%$4M26.3K
10PYPLPAYPAL HLDGS INChistory →COM1.58%$2M21.0K
11XLUSELECT SECTOR SPDR TRSBI INT-UTILS · TECHNOLOGY · SBI INT-FINL1.50%$2M42.6K
12JPMJPMORGAN CHASE & COhistory →COM1.46%$2M19.9K
13HYSPIMCO ETF TRhistory →0-5 HIGH YIELD1.46%$2M22.1K
14AMZNAMAZON COM INChistory →COM1.44%$2M1.2K
15FLRNSPDR SERIES TRUSTBLOMBERG BRC INV · S&P DIVID ETF1.33%$2M44.1K
16JNJJOHNSON & JOHNSONhistory →COM1.22%$2M13.3K
17CSXCSX CORPhistory →COM1.14%$2M22.3K
18VVISA INChistory →COM CL A1.01%$2M8.8K
19WMTWALMART INCCOM0.97%$1M13.4K
20INTCINTEL CORPCOM0.90%$1M28.5K
21PEPPEPSICO INCCOM0.89%$1M10.4K
22LMTLOCKHEED MARTIN CORPCOM0.88%$1M3.7K
23HDHOME DEPOT INCCOM0.88%$1M6.4K
24AMGNAMGEN INCCOM0.87%$1M7.2K
25AAPLAPPLE INCCOM0.87%$1M6.7K
26METAFACEBOOK INCCL A0.84%$1M6.6K
27CVXCHEVRON CORP NEWCOM0.79%$1M9.6K
28PFEPFIZER INCCOM0.78%$1M27.5K
29YUMYUM BRANDS INCCOM0.76%$1M10.4K
30CSCOCISCO SYS INCCOM0.76%$1M21.0K
31DISDISNEY WALT COCOM DISNEY0.73%$1M7.9K
32EXMOCEXXON MOBIL CORPCOM0.71%$1M14.2K
33VWOVANGUARD INTL EQUITY INDEX FFTSE EMR MKT ETF0.70%$1M25.1K
34BACBANK AMER CORPCOM0.69%$1M36.0K
35ITWILLINOIS TOOL WKS INCCOM0.69%$1M6.9K
36MDLZMONDELEZ INTL INCCL A0.68%$1M19.2K
37WMWASTE MGMT INC DELCOM0.67%$1M8.8K
38ADPAUTOMATIC DATA PROCESSING INCOM0.65%$990,0006.0K
39VZVERIZON COMMUNICATIONS INCCOM0.61%$931,00016.3K
40SYKSTRYKER CORPCOM0.59%$900,0004.4K
41EWEDWARDS LIFESCIENCES CORPCOM0.55%$838,0004.5K
42ICEINTERCONTINENTAL EXCHANGE INCOM0.55%$837,0009.7K
43FICOFAIR ISAAC CORPCOM0.55%$834,0002.7K
44IEMGISHARES INCCORE MSCI EMKT0.53%$808,00015.7K
45PGPROCTER AND GAMBLE COCOM0.52%$797,0007.3K
46NEENEXTERA ENERGY INCCOM0.51%$775,0003.8K
47SBUXSTARBUCKS CORPCOM0.50%$760,0009.1K
48INGERSOLL-RAND PLCSHS0.50%$756,0006.0K
49ADBEADOBE INCCOM0.49%$750,0002.5K
50MDTMEDTRONIC PLCSHS0.49%$742,0007.6K
51WFCWELLS FARGO CO NEWCOM0.46%$705,00014.9K
52CATCATERPILLAR INC DELCOM0.42%$644,0004.7K
53CHEMICAL FINL CORPCOM0.41%$616,00015.0K
54GSGOLDMAN SACHS GROUP INCCOM0.40%$614,0003.0K
55DUKDUKE ENERGY CORP NEWCOM NEW0.38%$574,0006.5K
56HSBCHSBC HLDGS PLCSPON ADR NEW0.38%$572,00013.7K
57ABTABBOTT LABSCOM0.37%$567,0006.7K
58KOCOCA COLA COCOM0.36%$547,00010.7K
59AXPAMERICAN EXPRESS COCOM0.34%$514,0004.2K
60MRKMERCK & CO INCCOM0.34%$510,0006.1K
61DDDUPONT DE NEMOURS INCCOM0.33%$499,0006.7K
62TXNTEXAS INSTRS INCCOM0.32%$489,0004.3K
63CCITIGROUP INCCOM NEW0.32%$480,0006.9K
64SCHWTHE CHARLES SCHWAB CORPORATICOM0.31%$470,00011.7K
65TMOTHERMO FISHER SCIENTIFIC INCCOM0.31%$470,0001.6K
66BMYBRISTOL MYERS SQUIBB COCOM0.30%$461,00010.2K
67ORCLORACLE CORPCOM0.30%$461,0008.1K
68ABBVABBVIE INCCOM0.26%$400,0005.5K
69COPCONOCOPHILLIPSCOM0.25%$386,0006.3K
70FITBFIFTH THIRD BANCORPCOM0.23%$357,00012.8K
71DOWDOW INCCOM0.21%$317,0006.4K
72MOALTRIA GROUP INCCOM0.21%$314,0006.6K
73GOOGLALPHABET INCCAP STK CL A0.21%$313,000289
74IBMINTERNATIONAL BUSINESS MACHSCOM0.20%$303,0002.2K
75BSXBOSTON SCIENTIFIC CORPCOM0.20%$300,0007.0K
76YUMCYUM CHINA HLDGS INCCOM0.19%$295,0006.4K
77DTEDTE ENERGY COCOM0.18%$277,0002.2K
78CBCHUBB LIMITEDCOM0.18%$277,0001.9K
79TAT&T INCCOM0.18%$271,0008.1K
80NEARISHARES US ETF TRSHT MAT BD ETF0.18%$267,0005.3K
81VIGVANGUARD GROUPDIV APP ETF0.17%$264,0002.3K
82UTXZUNITED TECHNOLOGIES CORPCOM0.17%$260,0002.0K
83TRVTRAVELERS COMPANIES INCCOM0.17%$259,0001.7K
84MMM3M COCOM0.17%$253,0001.5K
85GENERAL ELECTRIC COCOM0.17%$252,00024.0K
86LYFTLYFT INCCL A COM0.16%$248,0003.8K
87WMBWILLIAMS COS INC DELCOM0.16%$245,0008.8K
88JCIJOHNSON CTLS INTL PLCSHS0.16%$242,0005.9K
89GLWCORNING INCCOM0.16%$237,0007.1K
90COSTCOSTCO WHSL CORP NEWCOM0.16%$236,000892
91GSGISHARES S&P GSCI COMMODITY IUNIT BEN INT0.15%$235,00015.0K
92SHWSHERWIN WILLIAMS COCOM0.15%$229,000500
93UMPQUA HLDGS CORPCOM0.14%$212,00012.8K
94DEDEERE & COCOM0.14%$207,0001.2K
95UNPUNION PACIFIC CORPCOM0.13%$203,0001.2K
96UNHUNITEDHEALTH GROUP INCCOM0.13%$201,000823
97HBANHUNTINGTON BANCSHARES INCCOM0.13%$196,00014.2K
98MARATHON OIL CORPCOM0.12%$183,00012.9K

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 ↗.