SEC 13F Intelligence

Managers / Q4 2020 · view latest →

Aspen Investment Management Inc

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

Reported Value
$169M
Q4 2020
Positions
134
Filings on Record
30
2019–present window
Filed
Jan 25, 2021
original filing

Summary

Aspen Investment Management Inc reported $169M in U.S.-listed holdings across 134 positions for Q4 2020.

Its largest position, IWM, represents 12.4% of the portfolio.

Compared with Q3 2020, the fund opened 13 new positions and exited 2.

Portfolio Metrics

Turnover
+5.1%
vs prior filed quarter
Top-10 Concentration
+44.2%
share of reported value
Largest Position
+12.4%
Ishares Tr
New / Exited
13 / 2
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
Common Stock: 55.4%ETP: 42.5%Other: 1.6%ADR: 0.2%Closed-End Fund: 0.2%
  • Common Stock · 55.4% · $94M
  • ETP · 42.5% · $72M
  • Other · 1.6% · $3M
  • ADR · 0.2% · $406,000
  • Closed-End Fund · 0.2% · $342,000

Quarter-over-Quarter Changes full breakdown →

vs Q3 2020 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
MDYSPDR S&P MIDCAP 400 ETF TRNEW+1.7K1.7K+$707,000$707,000
CVSCVS HEALTH CORPNEW+7.2K7.2K+$490,000$490,000
GNRCGENERAC HLDGS INCNEW+1.9K1.9K+$437,000$437,000
FDXFEDEX CORPNEW+1.6K1.6K+$406,000$406,000
NIONIO INCNEW+8.3K8.3K+$406,000$406,000
XBISPDR SER TRNEW+2.4K2.4K+$331,000$331,000
PINSPINTEREST INCNEW+3.9K3.9K+$259,000$259,000
EMEEMCOR GROUP INCNEW+2.8K2.8K+$258,000$258,000

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

Holdings — Q4 2020

104 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1IWMISHARES TRRUSSELL 2000 ETF · CORE MSCI EAFE · ISHS 1-5YR INVS · CORE S&P500 ETF · RUS 2000 GRW ETF · MSCI EAFE ETF · RUS 1000 ETF · S&P 100 ETF · INTL SEL DIV ETF · NASDAQ BIOTECH · RUS MID CAP ETF12.36%$21M209.1K
2INVESCO EXCH TRD SLF IDX FDBULSHS 2021 CB · BULSHS 2024 CB · BULSHS 2022 CB · BULSHS 2023 CB · BULSHS 2021 HY · BULSHS 2023 HY7.27%$12M559.3K
3SPYSPDR S&P 500 ETF TRhistory →TR UNIT4.11%$7M18.6K
4SCHFSCHWAB STRATEGIC TRINTL EQTY ETF · US SML CAP ETF · INTL SCEQT ETF · US LRG CAP ETF · EMRG MKTEQ ETF · US MID-CAP ETF · US LCAP GR ETF3.93%$7M136.7K
5MSFTMICROSOFT CORPhistory →COM3.73%$6M28.3K
6PYPLPAYPAL HLDGS INChistory →COM2.98%$5M21.5K
7FIRST TR EXCH TRADED FD IIIPFD SECS INC ETF2.81%$5M235.3K
8XLBSELECT SECTOR SPDR TRSBI MATERIALS · SBI INT-INDS · TECHNOLOGY · SBI INT-FINL · SBI HEALTHCARE2.55%$4M57.6K
9VOVANGUARD INDEX FDSMID CAP ETF · REAL ESTATE ETF2.28%$4M29.2K
10SBUXSTARBUCKS CORPhistory →COM2.14%$4M33.8K
11AAPLAPPLE INChistory →COM2.04%$3M26.0K
12WMTWALMART INChistory →COM2.02%$3M23.7K
13AMZNAMAZON COM INChistory →COM1.93%$3M1.0K
14HYSPIMCO ETF TRhistory →0-5 HIGH YIELD1.74%$3M29.9K
15JPMJPMORGAN CHASE & COhistory →COM1.72%$3M22.9K
16FTSLFIRST TR EXCHANGE-TRADED FDSENIOR LN FD · NO AMER ENERGY1.52%$3M64.0K
17METAFACEBOOK INChistory →CL A1.47%$2M9.1K
18HDHOME DEPOT INChistory →COM1.44%$2M9.2K
19JNJJOHNSON & JOHNSONhistory →COM1.42%$2M15.3K
20DESWISDOMTREE TRUS SMALLCAP DIVD · US MIDCAP DIVID · ITL HDG QTLY DIV1.23%$2M71.8K
21CSXCSX CORPhistory →COM1.13%$2M21.1K
22RSPINVESCO EXCHANGE TRADED FD Thistory →S&P500 EQL WGT1.12%$2M14.8K
23VZVERIZON COMMUNICATIONS INChistory →COM1.08%$2M31.1K
24PEPPEPSICO INChistory →COM1.07%$2M12.2K
25AMGNAMGEN INChistory →COM1.02%$2M7.5K
26GSGOLDMAN SACHS GROUP INCCOM0.94%$2M6.0K
27GOOGLALPHABET INCCAP STK CL A0.90%$2M871
28VWOVANGUARD INTL EQUITY INDEX FFTSE EMR MKT ETF0.90%$2M30.3K
29VVISA INCCOM CL A0.87%$1M6.8K
30PFEPFIZER INCCOM0.86%$1M39.6K
31RVTYPERKINELMER INCCOM0.86%$1M10.1K
32FLRNSPDR SER TRBLOMBERG BRC INV · S&P BIOTECH0.86%$1M38.7K
33PGPROCTER AND GAMBLE COCOM0.85%$1M10.4K
34ADBEADOBE SYSTEMS INCORPORATEDCOM0.78%$1M2.6K
35NEENEXTERA ENERGY INCCOM0.78%$1M17.1K
36INTCINTEL CORPCOM0.75%$1M25.6K
37DISDISNEY WALT COCOM0.74%$1M6.9K
38DOCUDOCUSIGN INCCOM0.74%$1M5.6K
39ABTABBOTT LABSCOM0.72%$1M11.1K
40FICOFAIR ISAAC CORPCOM0.68%$1M2.3K
41ITWILLINOIS TOOL WKS INCCOM0.68%$1M5.6K
42ICEINTERCONTINENTAL EXCHANGE INCOM0.68%$1M9.9K
43BACBK OF AMERICA CORPCOM0.65%$1M36.4K
44EWEDWARDS LIFESCIENCES CORPCOM0.65%$1M12.1K
45SYKSTRYKER CORPORATIONCOM0.61%$1M4.2K
46CSCOCISCO SYS INCCOM0.60%$1M22.8K
47QCOMQUALCOMM INCCOM0.60%$1M6.6K
48ADPAUTOMATIC DATA PROCESSING INCOM0.59%$993,0005.6K
49WMWASTE MGMT INC DELCOM0.57%$959,0008.1K
50IEMGISHARES INCCORE MSCI EMKT0.55%$937,00015.1K
51MDLZMONDELEZ INTL INCCL A0.55%$935,00016.0K
52LMTLOCKHEED MARTIN CORPCOM0.55%$926,0002.6K
53MDTMEDTRONIC PLCSHS0.52%$880,0007.5K
54CATCATERPILLAR INCCOM0.50%$843,0004.6K
55AMATAPPLIED MATLS INCCOM0.49%$832,0009.6K
56CVXCHEVRON CORP NEWCOM0.49%$821,0009.7K
57COSTCOSTCO WHSL CORP NEWCOM0.48%$816,0002.2K
58TMOTHERMO FISHER SCIENTIFIC INCCOM0.44%$745,0001.6K
59KOCOCA COLA COCOM0.43%$726,00013.2K
60NVDANVIDIA CORPORATIONCOM0.43%$726,0001.4K
61DEDEERE & COCOM0.42%$711,0002.6K
62MDYSPDR S&P MIDCAP 400 ETF TRUTSER1 S&PDCRP0.42%$707,0001.7K
63SCHWSCHWAB CHARLES CORPCOM0.40%$669,00012.6K
64ROKROCKWELL AUTOMATION INCCOM0.39%$658,0002.6K
65JCIJOHNSON CTLS INTL PLCSHS0.39%$651,00014.0K
66AMDADVANCED MICRO DEVICES INCCOM0.37%$620,0006.8K
67TXNTEXAS INSTRS INCCOM0.36%$611,0003.7K
68EXMOCEXXON MOBIL CORPCOM0.36%$603,00014.6K
69BMYBRISTOL-MYERS SQUIBB COCOM0.35%$588,0009.5K
70TTTRANE TECHNOLOGIES PLCSHS0.35%$583,0004.0K
71ABBVABBVIE INCCOM0.34%$578,0005.4K
72DUKDUKE ENERGY CORP NEWCOM NEW0.33%$560,0006.1K
73TCFTCF FINL CORPCOM0.32%$537,00014.5K
74CVSCVS HEALTH CORPCOM0.29%$490,0007.2K
75CCITIGROUP INCCOM NEW0.28%$480,0007.8K
76DDDUPONT DE NEMOURS INCCOM0.26%$439,0006.2K
77MRKMERCK & CO. INCCOM0.26%$438,0005.3K
78GNRCGENERAC HLDGS INCCOM0.26%$437,0001.9K
79AXPAMERICAN EXPRESS COCOM0.26%$434,0003.6K
80EBAYEBAY INC.COM0.25%$421,0008.4K
81FDXFEDEX CORPCOM0.24%$406,0001.6K
82NIONIO INCSPON ADS0.24%$406,0008.3K
83QQQXNUVEEN NASDAQ 100 DYNAMIC OVCOM SHS0.20%$342,00013.2K
84ORCLORACLE CORPCOM0.20%$336,0005.2K
85ACTIVISION BLIZZARD INCCOM0.20%$331,0003.6K
86WFCWELLS FARGO CO NEWCOM0.19%$327,00010.8K
87VIGVANGUARD SPECIALIZED FUNDSDIV APP ETF0.19%$317,0002.2K
88YUMCYUM CHINA HLDGS INCCOM0.19%$315,0005.5K
89NEARISHARES U S ETF TRBLACKROCK ST MAT0.16%$266,0005.3K
90DTEDTE ENERGY COCOM0.16%$263,0002.2K
91UNHUNITEDHEALTH GROUP INCCOM0.16%$262,000748
92PINSPINTEREST INCCL A0.15%$259,0003.9K
93EMEEMCOR GROUP INCCOM0.15%$258,0002.8K
94IBMINTERNATIONAL BUSINESS MACHSCOM0.15%$248,0002.0K
95RTXRAYTHEON TECHNOLOGIES CORPCOM0.15%$246,0003.4K
96GENERAL ELECTRIC COCOM0.14%$243,00022.5K
97TRVTRAVELERS COMPANIES INCCOM0.14%$243,0001.7K
98MMM3M COCOM0.14%$238,0001.4K
99SHWSHERWIN WILLIAMS COCOM0.13%$220,000300
100TAT&T INCCOM0.13%$217,0007.5K

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 ↗.