SEC 13F Intelligence

Managers / Q3 2023 · view latest →

Aspen Investment Management Inc

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

Reported Value
$165M
Q3 2023
Positions
138
Filings on Record
29
2019–present window
Filed
Nov 1, 2023
original filing

Summary

Aspen Investment Management Inc reported $165M in U.S.-listed holdings across 138 positions for Q3 2023.

Its largest position, IEFA, represents 12.0% of the portfolio.

Compared with Q2 2023, the fund opened 13 new positions and exited 14.

Portfolio Metrics

Turnover
+7.4%
vs prior filed quarter
Top-10 Concentration
+46.5%
share of reported value
Largest Position
+12.0%
Ishares Tr
New / Exited
13 / 14
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
Q1 ’19: $143MQ1 ’19Q2 ’19: $152MQ3 ’19: $150MQ4 ’19: $160MQ1 ’20: $115MQ1 ’20Q2 ’20: $140MQ3 ’20: $150MQ4 ’20: $169MQ2 ’21: $191MQ2 ’21Q4 ’21: $203MQ1 ’22: $191MQ2 ’22: $160MQ3 ’22: $150MQ3 ’22Q4 ’22: $153MQ1 ’23: $156MQ2 ’23: $168MQ3 ’23: $165MQ3 ’23Q4 ’23: $179MQ1 ’24: $197MQ2 ’24: $200MQ3 ’24: $214MQ3 ’24Q4 ’24: $215MQ1 ’25: $217MQ2 ’25: $238MQ3 ’25: $259MQ3 ’25Q4 ’25: $332MQ1 ’26: $327Mfilingsflow.com

Portfolio Composition

By security type
Common Stock: 49.4%ETP: 47.3%Other: 3.2%
  • Common Stock · 49.4% · $82M
  • ETP · 47.3% · $78M
  • Other · 3.2% · $5M

Quarter-over-Quarter Changes full breakdown →

vs Q2 2023 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
CRWDCROWDSTRIKE HLDGS INCNEW+3.9K3.9K+$657,000$657,000
PANWPALO ALTO NETWORKS INCNEW+2.2K2.2K+$506,000$506,000
XOPSPDR SER TRNEW+2.8K2.8K+$408,000$408,000
METAMETA PLATFORMS INCNEW+1.3K1.3K+$382,000$382,000
EMEEMCOR GROUP INCNEW+1.8K1.8K+$375,000$375,000
XHBSPDR SER TRNEW+4.7K4.7K+$358,000$358,000
MMM3M CONEW+3.6K3.6K+$337,000$337,000
LLYELI LILLY & CONEW+591591+$317,000$317,000

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

Holdings — Q3 2023

109 positions (from 138 filing rows — )
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1IEFAISHARES TRCORE MSCI EAFE · RUSSELL 2000 ETF · ISHS 1-5YR INVS · CORE S&P500 ETF · ISHS 5-10YR INVT · MSCI EAFE ETF · RUS 1000 ETF · S&P 100 ETF11.97%$20M241.4K
2INVESCO EXCH TRD SLF IDX FDBULSHS 2024 CB · BULSHS 2023 CB · BULSHS 2025 CB7.92%$13M628.6K
3SPYSPDR S&P 500 ETF TRhistory →TR UNIT6.99%$12M27.0K
4MSFTMICROSOFT CORPhistory →COM3.59%$6M18.8K
5RSPINVESCO EXCHANGE TRADED FD Thistory →S&P500 EQL WGT3.53%$6M41.1K
6SCHASCHWAB STRATEGIC TRUS SML CAP ETF · INTL EQTY ETF · US LRG CAP ETF · INTL SCEQT ETF · EMRG MKTEQ ETF · US MID-CAP ETF · US DIVIDEND EQ3.53%$6M150.2K
7FTSLFIRST TR EXCHANGE-TRADED FDSENIOR LN FD · NO AMER ENERGY2.89%$5M110.8K
8SPYGSPDR SER TRPRTFLO S&P500 GW · S&P OILGAS EXP · S&P HOMEBUILD · PRTFLO S&P500 HI2.23%$4M59.9K
9FIRST TR EXCH TRADED FD IIIPFD SECS INC ETF2.11%$3M217.8K
10AAPLAPPLE INChistory →COM1.77%$3M17.1K
11XLVSELECT SECTOR SPDR TRSBI HEALTHCARE · INDL · TECHNOLOGY · ENERGY · FINANCIAL · SBI MATERIALS1.66%$3M30.9K
12JPMJPMORGAN CHASE & COhistory →COM1.63%$3M18.5K
13VNQVANGUARD INDEX FDSREAL ESTATE ETF · MID CAP ETF1.59%$3M24.1K
14JNJJOHNSON & JOHNSONhistory →COM1.54%$3M16.3K
15HYSPIMCO ETF TRhistory →0-5 HIGH YIELD1.49%$2M27.3K
16PEPPEPSICO INChistory →COM1.48%$2M14.5K
17WMTWALMART INChistory →COM1.41%$2M14.6K
18DESWISDOMTREE TRUS SMALLCAP DIVD · US MIDCAP DIVID · ITL HDG QTLY DIV1.41%$2M75.6K
19GSGOLDMAN SACHS GROUP INChistory →COM1.20%$2M6.1K
20GOOGLALPHABET INCCAP STK CL A · CAP STK CL C1.19%$2M15.0K
21CSXCSX CORPhistory →COM1.19%$2M64.0K
22HDHOME DEPOT INChistory →COM1.17%$2M6.4K
23AMZNAMAZON COM INChistory →COM1.08%$2M14.1K
24CVXCHEVRON CORP NEWhistory →COM1.05%$2M10.3K
25EXMOCEXXON MOBIL CORPhistory →COM1.02%$2M14.3K
26VVISA INCCOM CL A0.94%$2M6.8K
27AMGNAMGEN INCCOM0.91%$2M5.6K
28ITWILLINOIS TOOL WKS INCCOM0.86%$1M6.2K
29FICOFAIR ISAAC CORPCOM0.84%$1M1.6K
30ICEINTERCONTINENTAL EXCHANGE INCOM0.82%$1M12.3K
31INTCINTEL CORPCOM0.77%$1M35.9K
32WMWASTE MGMT INC DELCOM0.77%$1M8.3K
33ADPAUTOMATIC DATA PROCESSING INCOM0.75%$1M5.2K
34PYPLPAYPAL HLDGS INCCOM0.75%$1M21.2K
35SYKSTRYKER CORPORATIONCOM0.72%$1M4.4K
36CSCOCISCO SYS INCCOM0.67%$1M20.7K
37TTTRANE TECHNOLOGIES PLCSHS0.67%$1M5.4K
38SCHWSCHWAB CHARLES CORPCOM0.66%$1M19.9K
39MDLZMONDELEZ INTL INCCL A0.66%$1M15.6K
40BCIABRDN ETFSBBRG ALL COMD K10.64%$1M50.2K
41ABTABBOTT LABSCOM0.63%$1M10.7K
42PGPROCTER AND GAMBLE COCOM0.61%$1M6.9K
43BACBANK AMERICA CORPCOM0.60%$985,00036.0K
44CATCATERPILLAR INCCOM0.57%$946,0003.5K
45LEGG MASON ETF INVTROYCE QUANT SML0.57%$937,00026.1K
46LMTLOCKHEED MARTIN CORPCOM0.56%$932,0002.3K
47IBMINTERNATIONAL BUSINESS MACHSCOM0.56%$926,0006.6K
48NEENEXTERA ENERGY INCCOM0.55%$911,00015.9K
49ADBEADOBE INCCOM0.53%$878,0001.7K
50ORCLORACLE CORPCOM0.52%$863,0008.2K
51JCIJOHNSON CTLS INTL PLCSHS0.52%$862,00016.2K
52VWOVANGUARD INTL EQUITY INDEX FFTSE EMR MKT ETF0.51%$842,00021.5K
53IEMGISHARES INCCORE MSCI EMKT0.50%$824,00017.3K
54TMOTHERMO FISHER SCIENTIFIC INCCOM0.46%$759,0001.5K
55EWEDWARDS LIFESCIENCES CORPCOM0.46%$753,00010.9K
56ABBVABBVIE INCCOM0.45%$746,0005.0K
57MRKMERCK & CO INCCOM0.43%$707,0006.9K
58ETDETHAN ALLEN INTERIORS INCCOM0.42%$690,00023.1K
59CRWDCROWDSTRIKE HLDGS INCCL A0.40%$657,0003.9K
60ONTOONTO INNOVATION INCCOM0.40%$655,0005.1K
61PFEPFIZER INCCOM0.38%$625,00018.9K
62PINSPINTEREST INCCL A0.38%$625,00023.1K
63HBANHUNTINGTON BANCSHARES INCCOM0.38%$619,00059.6K
64JPSTJ P MORGAN EXCHANGE TRADED FULTRA SHRT INC0.37%$616,00012.3K
65TEXTEREX CORP NEWCOM0.36%$599,00010.4K
66TXNTEXAS INSTRS INCCOM0.36%$593,0003.7K
67MDYSPDR S&P MIDCAP 400 ETF TRUTSER1 S&PDCRP0.35%$585,0001.3K
68COPCONOCOPHILLIPSCOM0.35%$580,0004.8K
69KOCOCA COLA COCOM0.35%$577,00010.3K
70WMBWILLIAMS COS INCCOM0.33%$550,00016.4K
71AMDADVANCED MICRO DEVICES INCCOM0.33%$545,0005.3K
72BMYBRISTOL-MYERS SQUIBB COCOM0.33%$542,0009.4K
73ETNEATON CORP PLCSHS0.33%$538,0002.5K
74PANWPALO ALTO NETWORKS INCCOM0.31%$506,0002.2K
75AXPAMERICAN EXPRESS COCOM0.30%$495,0003.3K
76DUKDUKE ENERGY CORP NEWCOM NEW0.28%$465,0005.3K
77CARRCARRIER GLOBAL CORPORATIONCOM0.27%$442,0008.0K
78MDTMEDTRONIC PLCSHS0.26%$432,0005.5K
79MCDMCDONALDS CORPCOM0.25%$413,0001.6K
80AMATAPPLIED MATLS INCCOM0.24%$399,0002.9K
81WFCWELLS FARGO CO NEWCOM0.24%$391,0009.6K
82WDAYWORKDAY INCCL A0.24%$391,0001.8K
83METAMETA PLATFORMS INCCL A0.23%$382,0001.3K
84DEDEERE & COCOM0.23%$381,0001.0K
85EMEEMCOR GROUP INCCOM0.23%$375,0001.8K
86MMM3M COCOM0.20%$337,0003.6K
87UNHUNITEDHEALTH GROUP INCCOM0.20%$331,000658
88OCOWENS CORNING NEWCOM0.20%$326,0002.4K
89MCKMCKESSON CORPCOM0.20%$326,000750
90MNSTMONSTER BEVERAGE CORP NEWCOM0.20%$322,0006.1K
91LLYELI LILLY & COCOM0.19%$317,000591
92EQTEQT CORPCOM0.19%$316,0007.8K
93MPCMARATHON PETE CORPCOM0.19%$311,0002.1K
94VIGVANGUARD SPECIALIZED FUNDSDIV APP ETF0.18%$296,0001.9K
95GNLXGENELUX CORPORATIONCOM0.18%$290,00011.9K
96DISDISNEY WALT COCOM0.17%$283,0003.5K
97PAYXPAYCHEX INCCOM0.17%$277,0002.4K
98DLTRDOLLAR TREE INCCOM0.16%$264,0002.5K
99CPRTCOPART INCCOM0.16%$263,0006.1K
100BSXBOSTON SCIENTIFIC CORPCOM0.15%$255,0004.8K

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 ↗

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 ↗.