SEC 13F Intelligence

Managers / Q4 2021 · view latest →

Aspen Investment Management Inc

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

Reported Value
$203M
Q4 2021
Positions
140
Filings on Record
30
2019–present window
Filed
Jan 26, 2022
original filing

Summary

Aspen Investment Management Inc reported $203M in U.S.-listed holdings across 140 positions for Q4 2021.

Its largest position, IWM, represents 11.9% of the portfolio.

Compared with Q2 2021, the fund opened 14 new positions and exited 19.

Portfolio Metrics

Turnover
+11.9%
vs prior filed quarter
Top-10 Concentration
+43.8%
share of reported value
Largest Position
+11.9%
Ishares Tr
New / Exited
14 / 19
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: 53.8%ETP: 42.6%Other: 2.9%Closed-End Fund: 0.7%
  • Common Stock · 53.8% · $109M
  • ETP · 42.6% · $86M
  • Other · 2.9% · $6M
  • Closed-End Fund · 0.7% · $1M

Quarter-over-Quarter Changes full breakdown →

vs Q2 2021 (amended baseline) · note: prior filed quarter, not the immediately preceding one

IssuerMoveShare ΔShares nowValue ΔValue now
DVYISHARES TRNEW+11.4K11.4K+$1M$1M
INVESCO EXCH TRD SLF IDX FDNEW+46.9K46.9K+$1M$1M
WDAYWORKDAY INCNEW+3.1K3.1K+$846,000$846,000
SPYDSPDR SER TRNEW+19.0K19.0K+$799,000$799,000
UNITI GROUP INCNEW+56.2K56.2K+$788,000$788,000
AMDADVANCED MICRO DEVICES INCNEW+4.7K4.7K+$673,000$673,000
CVSCVS HEALTH CORPNEW+6.5K6.5K+$666,000$666,000
NVDANVIDIA CORPORATIONNEW+2.2K2.2K+$648,000$648,000

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

Holdings — Q4 2021

107 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1IWMISHARES TRRUSSELL 2000 ETF · CORE MSCI EAFE · ISHS 1-5YR INVS · CORE S&P500 ETF · SELECT DIVID ETF · MSCI EAFE ETF · RUS 1000 ETF · CORE S&P MCP ETF · S&P 100 ETF · RUS MID CAP ETF · INTL SEL DIV ETF · ISHARES BIOTECH11.86%$24M224.5K
2INVESCO EXCH TRD SLF IDX FDBULSHS 2023 CB · BULSHS 2024 CB · BULSHS 2022 CB · BULSHS 2022 HY · BULSHS 2025 CB · BULSHS 2023 HY7.00%$14M654.0K
3SPYSPDR S&P 500 ETF TRhistory →TR UNIT4.59%$9M19.6K
4MSFTMICROSOFT CORPhistory →COM4.08%$8M24.6K
5SCHFSCHWAB STRATEGIC TRINTL EQTY ETF · US SML CAP ETF · US LRG CAP ETF · INTL SCEQT ETF · EMRG MKTEQ ETF · US MID-CAP ETF · US LCAP GR ETF3.70%$8M136.9K
6VNQVANGUARD INDEX FDSREAL ESTATE ETF · MID CAP ETF3.16%$6M45.3K
7FIRST TR EXCH TRADED FD IIIPFD SECS INC ETF2.69%$5M269.1K
8FTSLFIRST TR EXCHANGE-TRADED FDSENIOR LN FD · NO AMER ENERGY · DORSEY WRT 5 ETF2.66%$5M121.5K
9AAPLAPPLE INChistory →COM2.18%$4M24.9K
10JPMJPMORGAN CHASE & COhistory →COM1.82%$4M23.3K
11XLVSELECT SECTOR SPDR TRSBI HEALTHCARE · TECHNOLOGY · SBI MATERIALS · FINANCIAL · SBI INT-INDS1.62%$3M33.5K
12HYSPIMCO ETF TRhistory →0-5 HIGH YIELD1.61%$3M33.0K
13HDHOME DEPOT INChistory →COM1.56%$3M7.6K
14AMZNAMAZON COM INChistory →COM1.49%$3M906
15RSPINVESCO EXCHANGE TRADED FD Thistory →S&P500 EQL WGT1.46%$3M18.2K
16GOOGLALPHABET INCCAP STK CL A · CAP STK CL C1.43%$3M1.0K
17JNJJOHNSON & JOHNSONhistory →COM1.42%$3M16.8K
18WMTWALMART INChistory →COM1.42%$3M19.9K
19PYPLPAYPAL HLDGS INChistory →COM1.41%$3M15.2K
20GSGOLDMAN SACHS GROUP INChistory →COM1.40%$3M7.5K
21DESWISDOMTREE TRUS SMALLCAP DIVD · US MIDCAP DIVID · ITL HDG QTLY DIV1.26%$3M71.8K
22CSXCSX CORPhistory →COM1.22%$2M65.7K
23PEPPEPSICO INChistory →COM1.17%$2M13.6K
24RVTYPERKINELMER INChistory →COM1.14%$2M11.5K
25FLRNSPDR SER TRBLOOMBERG INVT · PRTFLO S&P500 HI1.01%$2M60.0K
26METAMETA PLATFORMS INCCL A0.95%$2M5.8K
27BACBK OF AMERICA CORPCOM0.87%$2M39.7K
28VWOVANGUARD INTL EQUITY INDEX FFTSE EMR MKT ETF0.85%$2M34.8K
29EWEDWARDS LIFESCIENCES CORPCOM0.84%$2M13.2K
30SCHWSCHWAB CHARLES CORPCOM0.83%$2M20.1K
31FITBFIFTH THIRD BANCORPCOM0.80%$2M37.1K
32COSTCOSTCO WHSL CORP NEWCOM0.78%$2M2.8K
33ITWILLINOIS TOOL WKS INCCOM0.78%$2M6.4K
34ABTABBOTT LABSCOM0.75%$2M10.9K
35NEENEXTERA ENERGY INCCOM0.75%$2M16.4K
36ICEINTERCONTINENTAL EXCHANGE INCOM0.75%$2M11.1K
37CSCOCISCO SYS INCCOM0.74%$1M23.7K
38VVISA INCCOM CL A0.72%$1M6.8K
39AMGNAMGEN INCCOM0.70%$1M6.3K
40WMWASTE MGMT INC DELCOM0.69%$1M8.4K
41QQQXNUVEEN NASDAQ 100 DYNAMIC OVCOM SHS0.69%$1M45.7K
42ADPAUTOMATIC DATA PROCESSING INCOM0.69%$1M5.7K
43JCIJOHNSON CTLS INTL PLCSHS0.66%$1M16.5K
44INTCINTEL CORPCOM0.64%$1M25.3K
45PFEPFIZER INCCOM0.63%$1M21.7K
46MDYSPDR S&P MIDCAP 400 ETF TRUTSER1 S&PDCRP0.63%$1M2.5K
47CVXCHEVRON CORP NEWCOM0.62%$1M10.8K
48PGPROCTER AND GAMBLE COCOM0.59%$1M7.3K
49TGTTARGET CORPCOM0.57%$1M5.0K
50TTTRANE TECHNOLOGIES PLCSHS0.56%$1M5.6K
51MDLZMONDELEZ INTL INCCL A0.55%$1M17.0K
52SYKSTRYKER CORPORATIONCOM0.55%$1M4.2K
53SBUXSTARBUCKS CORPCOM0.54%$1M9.4K
54DISDISNEY WALT COCOM0.53%$1M6.9K
55HBANHUNTINGTON BANCSHARES INCCOM0.51%$1M67.0K
56TMOTHERMO FISHER SCIENTIFIC INCCOM0.49%$1M1.5K
57VZVERIZON COMMUNICATIONS INCCOM0.48%$984,00018.9K
58EXMOCEXXON MOBIL CORPCOM0.47%$956,00015.6K
59FICOFAIR ISAAC CORPCOM0.47%$952,0002.2K
60AMATAPPLIED MATLS INCCOM0.47%$947,0006.0K
61ORCLORACLE CORPCOM0.46%$932,00010.7K
62IEMGISHARES INCCORE MSCI EMKT0.46%$929,00015.5K
63LMTLOCKHEED MARTIN CORPCOM0.44%$901,0002.5K
64WDAYWORKDAY INCCL A0.42%$846,0003.1K
65KOCOCA COLA COCOM0.41%$832,00014.0K
66DOCUDOCUSIGN INCCOM0.41%$829,0005.4K
67CATCATERPILLAR INCCOM0.40%$818,0004.0K
68ROKROCKWELL AUTOMATION INCCOM0.40%$818,0002.3K
69ADBEADOBE SYSTEMS INCORPORATEDCOM0.40%$810,0001.4K
70UNITI GROUP INCCOM0.39%$788,00056.2K
71MDTMEDTRONIC PLCSHS0.39%$788,0007.6K
72TXNTEXAS INSTRS INCCOM0.36%$731,0003.9K
73ABBVABBVIE INCCOM0.36%$730,0005.4K
74UNHUNITEDHEALTH GROUP INCCOM0.34%$697,0001.4K
75TROWPRICE T ROWE GROUP INCCOM0.33%$679,0003.5K
76AMDADVANCED MICRO DEVICES INCCOM0.33%$673,0004.7K
77CVSCVS HEALTH CORPCOM0.33%$666,0006.5K
78NVDANVIDIA CORPORATIONCOM0.32%$648,0002.2K
79DUKDUKE ENERGY CORP NEWCOM NEW0.32%$642,0006.1K
80ETDETHAN ALLEN INTERIORS INCCOM0.31%$631,00024.0K
81BMYBRISTOL-MYERS SQUIBB COCOM0.29%$581,0009.3K
82FTNTFORTINET INCCOM0.28%$563,0001.6K
83AXPAMERICAN EXPRESS COCOM0.27%$546,0003.3K
84WFCWELLS FARGO CO NEWCOM0.25%$510,00010.6K
85BCIABRDN ETFSBBRG ALL COMD K10.25%$503,00021.9K
86LOWLOWES COS INCCOM0.25%$501,0001.9K
87EMEEMCOR GROUP INCCOM0.24%$486,0003.8K
88AAALCOA CORPCOM0.24%$485,0008.1K
89CCITIGROUP INCCOM NEW0.22%$440,0007.3K
90THCTENET HEALTHCARE CORPCOM NEW0.20%$414,0005.1K
91WMBWILLIAMS COS INCCOM0.19%$393,00015.1K
92DEDEERE & COCOM0.19%$387,0001.1K
93VIGVANGUARD SPECIALIZED FUNDSDIV APP ETF0.19%$379,0002.2K
94MRKMERCK & CO INCCOM0.18%$363,0004.7K
95COPCONOCOPHILLIPSCOM0.17%$351,0004.9K
96PAYXPAYCHEX INCCOM0.16%$326,0002.4K
97SHWSHERWIN WILLIAMS COCOM0.16%$317,000900
98GENERAL ELECTRIC COCOM NEW0.13%$263,0002.8K
99IBMINTERNATIONAL BUSINESS MACHSCOM0.13%$256,0001.9K
100DTEDTE ENERGY COCOM0.12%$250,0002.1K

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 ↗.