SEC 13F Intelligence

Managers / Q2 2023 · view latest →

Aspen Investment Management Inc

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

Reported Value
$168M
Q2 2023
Positions
139
Filings on Record
30
2019–present window
Filed
Jul 28, 2023
original filing

Summary

Aspen Investment Management Inc reported $168M in U.S.-listed holdings across 139 positions for Q2 2023.

Its largest position, IEFA, represents 12.3% of the portfolio.

Compared with Q1 2023, the fund opened 18 new positions and exited 8.

Portfolio Metrics

Turnover
+4.6%
vs prior filed quarter
Top-10 Concentration
+47.8%
share of reported value
Largest Position
+12.3%
Ishares Tr
New / Exited
18 / 8
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: 48.1%ETP: 47.3%Other: 4.5%Closed-End Fund: 0.1%
  • Common Stock · 48.1% · $81M
  • ETP · 47.3% · $80M
  • Other · 4.5% · $7M
  • Closed-End Fund · 0.1% · $228,000

Quarter-over-Quarter Changes full breakdown →

vs Q1 2023 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
SPYGSPDR SER TRNEW+29.3K29.3K+$2M$2M
ADBEADOBE SYSTEMS INCORPORATEDNEW+1.6K1.6K+$760,000$760,000
PINSPINTEREST INCNEW+23.2K23.2K+$635,000$635,000
AMDADVANCED MICRO DEVICES INCNEW+5.3K5.3K+$603,000$603,000
ONTOONTO INNOVATION INCNEW+4.3K4.3K+$495,000$495,000
MCDMCDONALDS CORPNEW+1.5K1.5K+$447,000$447,000
MCKMCKESSON CORPNEW+970970+$414,000$414,000
CARRCARRIER GLOBAL CORPORATIONNEW+8.1K8.1K+$401,000$401,000

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

Holdings — Q2 2023

107 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1IEFAISHARES TRCORE MSCI EAFE · RUSSELL 2000 ETF · ISHS 1-5YR INVS · CORE S&P500 ETF · SELECT DIVID ETF · MSCI EAFE ETF · RUS 1000 ETF · ISHS 5-10YR INVT · S&P 100 ETF · RUS MID CAP ETF12.26%$21M227.5K
2INVESCO EXCH TRD SLF IDX FDBULSHS 2023 CB · BULSHS 2024 CB · BULSHS 2025 CB9.36%$16M757.5K
3SPYSPDR S&P 500 ETF TRhistory →TR UNIT6.44%$11M24.5K
4SCHASCHWAB STRATEGIC TRUS SML CAP ETF · INTL EQTY ETF · US LRG CAP ETF · INTL SCEQT ETF · EMRG MKTEQ ETF · US MID-CAP ETF · US LCAP GR ETF · US DIVIDEND EQ · US LCAP VA ETF3.81%$6M154.7K
5MSFTMICROSOFT CORPhistory →COM3.71%$6M18.3K
6RSPINVESCO EXCHANGE TRADED FD Thistory →S&P500 EQL WGT3.29%$6M37.0K
7FTSLFIRST TR EXCHANGE-TRADED FDSENIOR LN FD · NO AMER ENERGY · DORSEY WRT 5 ETF3.04%$5M119.5K
8FIRST TR EXCH TRADED FD IIIPFD SECS INC ETF2.09%$4M220.0K
9AAPLAPPLE INChistory →COM2.00%$3M17.3K
10SPYGSPDR SER TRPRTFLO S&P500 GW · PRTFLO S&P500 HI1.85%$3M65.1K
11XLVSELECT SECTOR SPDR TRSBI HEALTHCARE · TECHNOLOGY · SBI INT-INDS · ENERGY · FINANCIAL · SBI MATERIALS1.75%$3M33.2K
12VNQVANGUARD INDEX FDSREAL ESTATE ETF · MID CAP ETF1.71%$3M24.3K
13JPMJPMORGAN CHASE & COhistory →COM1.59%$3M18.4K
14JNJJOHNSON & JOHNSONhistory →COM1.59%$3M16.2K
15PEPPEPSICO INChistory →COM1.53%$3M13.9K
16HYSPIMCO ETF TRhistory →0-5 HIGH YIELD1.45%$2M26.8K
17DESWISDOMTREE TRUS SMALLCAP DIVD · US MIDCAP DIVID · ITL HDG QTLY DIV1.40%$2M75.0K
18WMTWALMART INChistory →COM1.30%$2M13.9K
19CSXCSX CORPhistory →COM1.30%$2M64.0K
20HDHOME DEPOT INChistory →COM1.17%$2M6.3K
21GSGOLDMAN SACHS GROUP INChistory →COM1.12%$2M5.9K
22AMZNAMAZON COM INChistory →COM1.05%$2M13.5K
23CVXCHEVRON CORP NEWCOM0.96%$2M10.3K
24GOOGLALPHABET INCCAP STK CL A · CAP STK CL C0.94%$2M13.2K
25VVISA INCCOM CL A0.92%$2M6.5K
26ITWILLINOIS TOOL WKS INCCOM0.92%$2M6.2K
27EXMOCEXXON MOBIL CORPCOM0.91%$2M14.4K
28WMWASTE MGMT INC DELCOM0.87%$1M8.5K
29PYPLPAYPAL HLDGS INCCOM0.80%$1M20.1K
30FICOFAIR ISAAC CORPCOM0.76%$1M1.6K
31ICEINTERCONTINENTAL EXCHANGE INCOM0.76%$1M11.3K
32AMGNAMGEN INCCOM0.76%$1M5.7K
33SYKSTRYKER CORPORATIONCOM0.74%$1M4.1K
34ABTABBOTT LABSCOM0.69%$1M10.7K
35ADPAUTOMATIC DATA PROCESSING INCOM0.68%$1M5.2K
36NEENEXTERA ENERGY INCCOM0.67%$1M15.3K
37SCHWSCHWAB CHARLES CORPCOM0.67%$1M20.0K
38LMTLOCKHEED MARTIN CORPCOM0.67%$1M2.4K
39JCIJOHNSON CTLS INTL PLCSHS0.66%$1M16.4K
40MDLZMONDELEZ INTL INCCL A0.64%$1M14.7K
41BCIABRDN ETFSBBRG ALL COMD K10.63%$1M52.5K
42PGPROCTER AND GAMBLE COCOM0.63%$1M6.9K
43EWEDWARDS LIFESCIENCES CORPCOM0.61%$1M10.9K
44JPSTJ P MORGAN EXCHANGE TRADED FULTRA SHRT INC0.60%$1M20.0K
45TTTRANE TECHNOLOGIES PLCSHS0.59%$998,0005.2K
46ORCLORACLE CORPCOM0.59%$985,0008.3K
47CSCOCISCO SYS INCCOM0.58%$982,00019.0K
48BACBANK AMERICA CORPCOM0.58%$981,00034.2K
49LEGG MASON ETF INVTROYCE QUANT SML0.57%$966,00026.4K
50INTCINTEL CORPCOM0.56%$950,00028.4K
51RVTYREVVITY INCCOM0.54%$916,0007.7K
52VWOVANGUARD INTL EQUITY INDEX FFTSE EMR MKT ETF0.52%$882,00021.7K
53CATCATERPILLAR INCCOM0.51%$865,0003.5K
54IEMGISHARES INCCORE MSCI EMKT0.51%$864,00017.5K
55TMOTHERMO FISHER SCIENTIFIC INCCOM0.47%$783,0001.5K
56ADBEADOBE SYSTEMS INCORPORATEDCOM0.45%$760,0001.6K
57PFEPFIZER INCCOM0.42%$701,00019.1K
58ABBVABBVIE INCCOM0.40%$674,0005.0K
59TXNTEXAS INSTRS INCCOM0.40%$668,0003.7K
60HBANHUNTINGTON BANCSHARES INCCOM0.39%$652,00060.5K
61PINSPINTEREST INCCL A0.38%$635,00023.2K
62TEXTEREX CORP NEWCOM0.37%$626,00010.5K
63ETDETHAN ALLEN INTERIORS INCCOM0.37%$625,00022.1K
64KOCOCA COLA COCOM0.37%$622,00010.3K
65BMYBRISTOL-MYERS SQUIBB COCOM0.37%$615,0009.6K
66AMDADVANCED MICRO DEVICES INCCOM0.36%$603,0005.3K
67AXPAMERICAN EXPRESS COCOM0.34%$577,0003.3K
68MRKMERCK & CO INCCOM0.32%$541,0004.7K
69VZVERIZON COMMUNICATIONS INCCOM0.32%$538,00014.5K
70WMBWILLIAMS COS INCCOM0.31%$526,00016.1K
71MDTMEDTRONIC PLCSHS0.30%$504,0005.7K
72ONTOONTO INNOVATION INCCOM0.29%$495,0004.3K
73COPCONOCOPHILLIPSCOM0.29%$494,0004.8K
74DUKDUKE ENERGY CORP NEWCOM NEW0.29%$480,0005.3K
75IBMINTERNATIONAL BUSINESS MACHSCOM0.27%$455,0003.4K
76MCDMCDONALDS CORPCOM0.27%$447,0001.5K
77ETNEATON CORP PLCSHS0.26%$430,0002.1K
78AMATAPPLIED MATLS INCCOM0.25%$418,0002.9K
79MCKMCKESSON CORPCOM0.25%$414,000970
80DEDEERE & COCOM0.24%$409,0001.0K
81WFCWELLS FARGO CO NEWCOM0.24%$409,0009.6K
82CARRCARRIER GLOBAL CORPORATIONCOM0.24%$401,0008.1K
83DLTRDOLLAR TREE INCCOM0.23%$391,0002.7K
84DISDISNEY WALT COCOM0.22%$366,0004.1K
85VIGVANGUARD SPECIALIZED FUNDSDIV APP ETF0.21%$359,0002.2K
86MNSTMONSTER BEVERAGE CORP NEWCOM0.21%$353,0006.1K
87TDCTERADATA CORP DELCOM0.20%$332,0006.2K
88UNHUNITEDHEALTH GROUP INCCOM0.19%$317,000659
89CPRTCOPART INCCOM0.17%$279,0003.1K
90EEFTEURONET WORLDWIDE INCCOM0.16%$268,0002.3K
91PAYXPAYCHEX INCCOM0.16%$267,0002.4K
92TRVTRAVELERS COMPANIES INCCOM0.16%$264,0001.5K
93HCAHCA HEALTHCARE INCCOM0.15%$245,000808
94GENERAL ELECTRIC COCOM NEW0.15%$245,0002.2K
95WDAYWORKDAY INCCL A0.15%$244,0001.1K
96MSIMOTOROLA SOLUTIONS INCCOM NEW0.14%$241,000820
97NEARISHARES U S ETF TRBLACKROCK ST MAT0.14%$239,0004.8K
98DTEDTE ENERGY COCOM0.14%$230,0002.1K
99QQQXNUVEEN NASDAQ 100 DYNAMIC OVCOM SHS0.14%$228,0009.2K
100BSXBOSTON SCIENTIFIC CORPCOM0.13%$223,0004.1K

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 ↗.