SEC 13F Intelligence

Managers / Q3 2022 · view latest →

Aspen Investment Management Inc

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

Reported Value
$150M
Q3 2022
Positions
128
Filings on Record
30
2019–present window
Filed
Nov 9, 2022
original filing

Summary

Aspen Investment Management Inc reported $150M in U.S.-listed holdings across 128 positions for Q3 2022.

Its largest position, Invesco Exch Trd Slf Idx Fd, represents 10.9% of the portfolio.

Compared with Q2 2022, the fund opened 8 new positions and exited 17.

Portfolio Metrics

Turnover
+4.2%
vs prior filed quarter
Top-10 Concentration
+46.8%
share of reported value
Largest Position
+10.9%
Invesco Exch Trd Slf Idx Fd
New / Exited
8 / 17
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: 48.0%ETP: 47.8%Other: 4.2%
  • Common Stock · 48.0% · $72M
  • ETP · 47.8% · $72M
  • Other · 4.2% · $6M

Quarter-over-Quarter Changes full breakdown →

vs Q2 2022 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
LEGG MASON ETF INVTNEW+21.2K21.2K+$672,000$672,000
DGDOLLAR GEN CORP NEWNEW+2.1K2.1K+$505,000$505,000
XLISELECT SECTOR SPDR TRNEW+3.8K3.8K+$315,000$315,000
XBISPDR SER TRNEW+3.3K3.3K+$259,000$259,000
ELVELEVANCE HEALTH INCNEW+554554+$252,000$252,000
LLYLILLY ELI & CONEW+706706+$228,000$228,000
RIVNRIVIAN AUTOMOTIVE INCNEW+6.7K6.7K+$219,000$219,000
SYNOVUS FINL CORPNEW+5.4K5.4K+$202,000$202,000

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

Holdings — Q3 2022

97 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1INVESCO EXCH TRD SLF IDX FDBULSHS 2023 CB · BULSHS 2024 CB · BULSHS 2022 CB · BULSHS 2025 CB · BULSHS 2022 HY10.94%$16M790.2K
2IWMISHARES TRRUSSELL 2000 ETF · ISHS 1-5YR INVS · CORE MSCI EAFE · CORE S&P500 ETF · SELECT DIVID ETF · MSCI EAFE ETF · RUS 1000 ETF · ISHS 5-10YR INVT · S&P 100 ETF10.57%$16M187.2K
3SPYSPDR S&P 500 ETF TRhistory →TR UNIT5.37%$8M22.5K
4SCHASCHWAB STRATEGIC TRUS SML CAP ETF · INTL EQTY ETF · US LRG CAP ETF · INTL SCEQT ETF · EMRG MKTEQ ETF · US MID-CAP ETF · US DIVIDEND EQ · US LCAP GR ETF3.67%$5M163.5K
5FTSLFIRST TR EXCHANGE-TRADED FDSENIOR LN FD · NO AMER ENERGY3.67%$5M132.6K
6MSFTMICROSOFT CORPhistory →COM3.17%$5M20.4K
7FIRST TR EXCH TRADED FD IIIPFD SECS INC ETF2.69%$4M241.6K
8XLUSELECT SECTOR SPDR TRSBI INT-UTILS · SBI HEALTHCARE · TECHNOLOGY · ENERGY · FINANCIAL · SBI INT-INDS2.61%$4M54.4K
9VNQVANGUARD INDEX FDSREAL ESTATE ETF · MID CAP ETF2.12%$3M31.2K
10SPYDSPDR SER TRPRTFLO S&P500 HI · BLOOMBERG INVT · S&P BIOTECH1.97%$3M82.1K
11RSPINVESCO EXCHANGE TRADED FD Thistory →S&P500 EQL WGT1.93%$3M22.8K
12JNJJOHNSON & JOHNSONhistory →COM1.91%$3M17.5K
13AAPLAPPLE INChistory →COM1.72%$3M18.6K
14BCIABRDN ETFShistory →BBRG ALL COMD K11.56%$2M90.3K
15DESWISDOMTREE TRUS SMALLCAP DIVD · US MIDCAP DIVID · ITL HDG QTLY DIV1.54%$2M82.4K
16PEPPEPSICO INChistory →COM1.50%$2M13.8K
17HYSPIMCO ETF TRhistory →0-5 HIGH YIELD1.47%$2M25.2K
18HDHOME DEPOT INChistory →COM1.21%$2M6.6K
19WMTWALMART INChistory →COM1.20%$2M13.9K
20CSXCSX CORPhistory →COM1.17%$2M65.9K
21GSGOLDMAN SACHS GROUP INChistory →COM1.17%$2M6.0K
22JPMJPMORGAN CHASE & COhistory →COM1.10%$2M15.8K
23CVXCHEVRON CORP NEWhistory →COM1.04%$2M10.9K
24AMGNAMGEN INCCOM0.93%$1M6.2K
25EXMOCEXXON MOBIL CORPCOM0.93%$1M15.9K
26WMWASTE MGMT INC DELCOM0.90%$1M8.5K
27BMYBRISTOL-MYERS SQUIBB COCOM0.89%$1M18.9K
28AMZNAMAZON COM INCCOM0.89%$1M11.9K
29COSTCOSTCO WHSL CORP NEWCOM0.89%$1M2.8K
30NEENEXTERA ENERGY INCCOM0.86%$1M16.4K
31ADPAUTOMATIC DATA PROCESSING INCOM0.85%$1M5.6K
32PYPLPAYPAL HLDGS INCCOM0.82%$1M14.3K
33VVISA INCCOM CL A0.79%$1M6.6K
34ITWILLINOIS TOOL WKS INCCOM0.77%$1M6.4K
35BACBK OF AMERICA CORPCOM0.73%$1M36.4K
36KOCOCA COLA COCOM0.71%$1M19.1K
37ABTABBOTT LABSCOM0.71%$1M11.0K
38EWEDWARDS LIFESCIENCES CORPCOM0.68%$1M12.3K
39ICEINTERCONTINENTAL EXCHANGE INCOM0.67%$999,00011.1K
40LMTLOCKHEED MARTIN CORPCOM0.66%$983,0002.5K
41RVTYPERKINELMER INCCOM0.65%$976,0008.1K
42VWOVANGUARD INTL EQUITY INDEX FFTSE EMR MKT ETF0.64%$956,00026.2K
43PGPROCTER AND GAMBLE COCOM0.63%$937,0007.4K
44MDLZMONDELEZ INTL INCCL A0.62%$931,00017.0K
45GOOGLALPHABET INCCAP STK CL A · CAP STK CL C0.62%$927,0009.7K
46CSCOCISCO SYS INCCOM0.60%$902,00022.5K
47PFEPFIZER INCCOM0.60%$902,00020.6K
48SYKSTRYKER CORPORATIONCOM0.55%$825,0004.1K
49HBANHUNTINGTON BANCSHARES INCCOM0.55%$819,00062.2K
50JCIJOHNSON CTLS INTL PLCSHS0.53%$790,00016.1K
51IBMINTERNATIONAL BUSINESS MACHSCOM0.52%$780,0006.6K
52TTTRANE TECHNOLOGIES PLCSHS0.51%$764,0005.3K
53TMOTHERMO FISHER SCIENTIFIC INCCOM0.51%$761,0001.5K
54WMBWILLIAMS COS INCCOM0.51%$761,00026.6K
55ABBVABBVIE INCCOM0.49%$737,0005.5K
56SCHWSCHWAB CHARLES CORPCOM0.49%$732,00010.2K
57FICOFAIR ISAAC CORPCOM0.48%$715,0001.7K
58IEMGISHARES INCCORE MSCI EMKT0.46%$687,00016.0K
59KELKELLOGG COCOM0.45%$679,0009.7K
60UNHUNITEDHEALTH GROUP INCCOM0.45%$678,0001.3K
61LEGG MASON ETF INVTROYCE QUANT SML0.45%$672,00021.2K
62VZVERIZON COMMUNICATIONS INCCOM0.44%$661,00017.4K
63INTCINTEL CORPCOM0.43%$645,00025.0K
64CATCATERPILLAR INCCOM0.43%$644,0003.9K
65CVSCVS HEALTH CORPCOM0.43%$639,0006.7K
66TXNTEXAS INSTRS INCCOM0.38%$574,0003.7K
67DUKDUKE ENERGY CORP NEWCOM NEW0.38%$569,0006.1K
68MDTMEDTRONIC PLCSHS0.37%$560,0006.9K
69OXYOCCIDENTAL PETE CORPCOM0.37%$556,0009.0K
70DLTRDOLLAR TREE INCCOM0.34%$509,0003.7K
71GISGENERAL MLS INCCOM0.34%$507,0006.6K
72DGDOLLAR GEN CORP NEWCOM0.34%$505,0002.1K
73COPCONOCOPHILLIPSCOM0.33%$499,0004.9K
74CAGCONAGRA BRANDS INCCOM0.33%$489,00015.0K
75DISDISNEY WALT COCOM0.33%$488,0005.2K
76ETDETHAN ALLEN INTERIORS INCCOM0.31%$467,00022.1K
77AXPAMERICAN EXPRESS COCOM0.29%$440,0003.3K
78TAPMOLSON COORS BEVERAGE COCL B0.29%$431,0009.0K
79MRKMERCK & CO INCCOM0.27%$410,0004.8K
80WFCWELLS FARGO CO NEWCOM0.27%$406,00010.1K
81WDAYWORKDAY INCCL A0.25%$381,0002.5K
82DEDEERE & COCOM0.25%$369,0001.1K
83MNSTMONSTER BEVERAGE CORP NEWCOM0.21%$321,0003.7K
84ORCLORACLE CORPCOM0.20%$301,0004.9K
85VIGVANGUARD SPECIALIZED FUNDSDIV APP ETF0.20%$299,0002.2K
86CCITIGROUP INCCOM NEW0.18%$268,0006.4K
87PAYXPAYCHEX INCCOM0.18%$268,0002.4K
88METAMETA PLATFORMS INCCL A0.17%$261,0001.9K
89ADMARCHER DANIELS MIDLAND COCOM0.17%$258,0003.2K
90ELVELEVANCE HEALTH INCCOM0.17%$252,000554
91AMATAPPLIED MATLS INCCOM0.16%$245,0003.0K
92DTEDTE ENERGY COCOM0.16%$240,0002.1K
93NEARISHARES U S ETF TRBLACKROCK ST MAT0.16%$236,0004.8K
94TRVTRAVELERS COMPANIES INCCOM0.16%$233,0001.5K
95LLYLILLY ELI & COCOM0.15%$228,000706
96RIVNRIVIAN AUTOMOTIVE INCCOM CL A0.15%$219,0006.7K
97SYNOVUS FINL CORPCOM NEW0.13%$202,0005.4K

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 ↗.