Aspen Capital Management, LLC

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed July 31, 2025), Aspen Capital Management, LLC reported 72 stock positions worth $356.8 million. Its top holding was Dimensional International (DFIC) at 18.4% of the portfolio, followed by iShares 0-3 Month Treasury B (SGOV, 17.9%) and Dimensional US Core Equity 2 (DFAC, 12.3%). Compared with Q1 2025, it opened 9 new positions, sold out of 3, added to 32 and reduced 9. The biggest buy was iShares 0-3 Month Treasury B (SGOV, shares +19%) and the biggest sale an exit from Dimensional Short Duration (DFSD).

Most Recent 13F
Q2 2026
Location
BOISE, ID
CIK
0002065974
Portfolio Value
$356.8M (Q2 2025)
SEC Filing
0002065974-25-000002 ↗ filed Jul 31, 2025

Holdings Value

0$100.0M$200.0M$300.0M$400.0M$500.0M Q1 2025: $312.7M Q1 2025 Q2 2025: $356.8M $356.8M Q2 2025 Q3 2025: $392.3M Q3 2025 Q4 2025: $403.8M Q4 2025 Q1 2026: $404.0M Q1 2026 Q2 2026: $453.0M Q2 2026

Holdings 72 stocks · $356.8M
DFIC Dimensional International Co. 18.37% 2,108,700 $65.6M Reduce -0.9%
SGOV iShares 0-3 Month Treasury B 17.94% 635,800 $64.0M Add +19.2%
DFAC Dimensional US Core Equity 2 12.28% 1,222,837 $43.8M Add +3.7%
DFCF Dimensional Core Fixed Inc. 8.09% 683,067 $28.9M Add +10.6%
DFAT Dimensional US Target Value 4.53% 299,283 $16.1M Reduce -0.8%
DFAS Dimensional US Small Cap ETF 3.96% 222,039 $14.1M Reduce -0.9%
DFEM Dimensional Emrg MRKT Core 3.87% 464,980 $13.8M Add +2.9%
DFGR Dim Global Real Estate ETF 3.56% 473,614 $12.7M Add +6.7%
USB US Bancorp 3.01% 237,205 $10.7M Add +0.0%
DFSV Dimensional US Small Cap Val 2.09% 253,368 $7.5M Reduce -6.8%
DFAX Dimensional World Ex US Core 1.59% 193,678 $5.7M Add +2.0%
DCOR Dimensional US Core Eq 1 ETF 1.58% 84,133 $5.6M Reduce -15.0%
IWB iShares Russell 1000 ETF 1.47% 15,461 $5.3M Reduce -0.4%
NVDA Nvidia Corp. 1.27% 28,696 $4.5M Add +0.6%
AAPL Apple Inc. 1.27% 22,025 $4.5M Add +0.6%
DFSU Dimensional US Sus CORE1 ETF 1.22% 111,007 $4.4M Add +69.5%
QQQ Invesco QQQ Trust Series 1 1.14% 7,392 $4.1M No change
MSFT Microsoft Corp. 1.08% 7,773 $3.9M Add +0.8%
DFUV Dimensional US Marketwide Va 0.93% 78,330 $3.3M Reduce -1.3%
DFSI Dimensional Int Sus COR1 ETF 0.90% 81,859 $3.2M Add +80.2%
AVDE Avantis International Equity 0.86% 41,633 $3.1M Add +337.4%
IVV iShares Core S&P 500 ETF 0.63% 3,625 $2.3M No change
IWM iShares Russell 2000 ETF 0.47% 7,787 $1.7M Add +0.3%
SPY SS SPDR S&P 500 ETF Trust-US 0.41% 2,394 $1.5M Add +1.2%
AVUS Avantis U.S. Equity ETF 0.41% 14,662 $1.5M New
PAYO Payoneer Global Inc. 0.37% 194,222 $1.3M No change
VTI VG Morningstar TS MKT ETF-US 0.36% 4,226 $1.3M No change
DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE 0.35% 2,850 $1.3M No change
EFA iShares MSCI Eafe ETF 0.35% 14,000 $1.3M No change
JPM JPMorgan Chase & Co. 0.35% 4,316 $1.3M Add +0.8%
AMZN Amazon.com Inc. 0.35% 5,624 $1.2M No change
VTV Vanguard Mrngstr Val ETF-Aui 0.33% 6,656 $1.2M Add +0.5%
VT Vanguard Tot World STK ETF 0.29% 7,959 $1.0M Reduce -0.6%
DFAW Dimensional World Eqty ETF 0.25% 13,320 $893K Add +11.2%
AVUV Avantis US Small Cap Value 0.25% 9,752 $888K New
RBLX Roblox Corp. Class A 0.21% 7,026 $739K New
BRK.A Berkshire Hathaway Inc. Class A 0.20% 1 $729K No change
DFSE Dimensional Em Sus CORE1 ETF 0.19% 18,254 $695K New
ISRG Intuitive Surgical Inc. 0.17% 1,114 $605K Add +1.2%
GOOG Alphabet Inc. Class C 0.15% 3,063 $543K Reduce -11.1%
BRK.B Berkshire Hathaway Inc. Class B 0.15% 1,118 $543K Add +1.4%
DFSB Dim GLB Sustain Fix Inc. ETF 0.15% 10,237 $537K Add +127.1%
GOOGL Alphabet Inc. Class A 0.14% 2,848 $502K No change
VOO Vanguard S&P 500 ETF 0.14% 875 $497K Add +80.4%
COST Costco Wholesale Corp. 0.14% 491 $487K Add +1.9%
HPQ HP Inc. 0.13% 18,988 $464K Add +0.8%
ESGV Vanguard ESG US Stock ETF 0.12% 3,924 $430K Add +0.3%
SCHX Schwab US Large-Cap ETF 0.11% 15,522 $379K Add +0.1%
CASY Casey's General Stores Inc. 0.10% 702 $358K No change
EEM iShares MSCI Emerging Market 0.10% 7,314 $353K No change
VB Vanguard Most SM-Cap ETF-Usd 0.09% 1,407 $333K Add +3.2%
CMG Chipotle Mexican Grill Inc. 0.09% 5,850 $328K No change
FDN First Trust DJ Internet Ind 0.09% 1,205 $325K No change
CGGO Cap Group Global Growth filed as CAPITAL GROUP GBL GROWTH EQT 0.09% 9,974 $319K No change
A Agilent Technologies Inc. 0.09% 2,573 $304K Add +16.6%
HPE Hewlett Packard Enterprise 0.08% 14,481 $296K No change
SCHF Schwab Intl Equity ETF 0.07% 12,070 $267K Add +5.9%
SHOP Shopify Inc. Class A 0.07% 2,300 $265K No change
LLY Eli Lilly & Co. 0.07% 320 $249K No change
KNSL Kinsale Capital Group Inc. 0.07% 510 $247K No change
VXUS Vanguard Total Intl Stock 0.07% 3,545 $245K No change
FNX First Trust Mid Cap Core Alp 0.07% 2,084 $239K No change
TSLA Tesla Inc. 0.07% 739 $235K New
DE Deere & Co. 0.07% 461 $234K No change
HD Home Depot Inc. 0.07% 638 $234K Add +2.9%
ABBV Abbvie Inc. 0.07% 1,249 $232K No change
META Meta Platforms Inc. Class A 0.06% 314 $232K New
SCHB Schwab US Broad Market ETF 0.06% 9,671 $230K Add +1.1%
NFLX Netflix Inc. 0.06% 172 $230K New
CAT Caterpillar Inc. 0.06% 584 $227K New
IJH iShares Core S&P Midcap ETF 0.06% 3,580 $222K Add +0.1%
ORCL Oracle Corp. 0.06% 949 $207K New

Portfolio Sells Q1 2025 → Q2 2025
DFSD Dimensional Short Duration Sold out 0.00% −0.56
DFIC Dimensional International Co. Reduce -0.9% 18.37% −0.53
DFAT Dimensional US Target Value Reduce -0.8% 4.53% −0.44
DCOR Dimensional US Core Eq 1 ETF Reduce -15.0% 1.58% −0.36
DFSV Dimensional US Small Cap Val Reduce -6.8% 2.09% −0.36
DFAS Dimensional US Small Cap ETF Reduce -0.9% 3.96% −0.32
DFUV Dimensional US Marketwide Va Reduce -1.3% 0.93% −0.12
MRK Merck & Co. Inc. Sold out 0.00% −0.10
MCD McDonald's Corp. Sold out 0.00% −0.06
IWB iShares Russell 1000 ETF Reduce -0.4% 1.47% −0.05
GOOG Alphabet Inc. Class C Reduce -11.1% 0.15% −0.02
VT Vanguard Tot World STK ETF Reduce -0.6% 0.29% −0.01

Portfolio Buys Q1 2025 → Q2 2025
SGOV iShares 0-3 Month Treasury B Add +19.2% 17.94% +0.78
AVDE Avantis International Equity Add +337.4% 0.86% +0.66
DFSU Dimensional US Sus CORE1 ETF Add +69.5% 1.22% +0.47
AVUS Avantis U.S. Equity ETF New 0.41% +0.41
DFSI Dimensional Int Sus COR1 ETF Add +80.2% 0.90% +0.40
NVDA Nvidia Corp. Add +0.6% 1.27% +0.28
AVUV Avantis US Small Cap Value New 0.25% +0.25
RBLX Roblox Corp. Class A New 0.21% +0.21
DFSE Dimensional Em Sus CORE1 ETF New 0.19% +0.19
MSFT Microsoft Corp. Add +0.8% 1.08% +0.16
DFSB Dim GLB Sustain Fix Inc. ETF Add +127.1% 0.15% +0.08
TSLA Tesla Inc. New 0.07% +0.07
META Meta Platforms Inc. Class A New 0.06% +0.06
NFLX Netflix Inc. New 0.06% +0.06
CAT Caterpillar Inc. New 0.06% +0.06
VOO Vanguard S&P 500 ETF Add +80.4% 0.14% +0.06
ORCL Oracle Corp. New 0.06% +0.06
DFEM Dimensional Emrg MRKT Core Add +2.9% 3.87% +0.04
DFAW Dimensional World Eqty ETF Add +11.2% 0.25% +0.02
JPM JPMorgan Chase & Co. Add +0.8% 0.35% +0.01
DFAX Dimensional World Ex US Core Add +2.0% 1.59% +0.00
A Agilent Technologies Inc. Add +16.6% 0.09% +0.00
SCHF Schwab Intl Equity ETF Add +5.9% 0.07% +0.00
SCHB Schwab US Broad Market ETF Add +1.1% 0.06% −0.00
ESGV Vanguard ESG US Stock ETF Add +0.3% 0.12% −0.00
SCHX Schwab US Large-Cap ETF Add +0.1% 0.11% −0.00
VB Vanguard Most SM-Cap ETF-Usd Add +3.2% 0.09% −0.00
IJH iShares Core S&P Midcap ETF Add +0.1% 0.06% −0.00
ISRG Intuitive Surgical Inc. Add +1.2% 0.17% −0.00
HD Home Depot Inc. Add +2.9% 0.07% −0.01
SPY SS SPDR S&P 500 ETF Trust-US Add +1.2% 0.41% −0.01
COST Costco Wholesale Corp. Add +1.9% 0.14% −0.01
IWM iShares Russell 2000 ETF Add +0.3% 0.47% −0.02
BRK.B Berkshire Hathaway Inc. Class B Add +1.4% 0.15% −0.04
VTV Vanguard Mrngstr Val ETF-Aui Add +0.5% 0.33% −0.04
HPQ HP Inc. Add +0.8% 0.13% −0.04
DFAC Dimensional US Core Equity 2 Add +3.7% 12.28% −0.16
DFGR Dim Global Real Estate ETF Add +6.7% 3.56% −0.17
USB US Bancorp Add +0.0% 3.01% −0.19
DFCF Dimensional Core Fixed Inc. Add +10.6% 8.09% −0.22
AAPL Apple Inc. Add +0.6% 1.27% −0.29

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 83$453.0MDFIC, DFAC, DFCF, SGOV, DFEM
Q1 2026 77$404.0MDFIC, DFAC, SGOV, DFCF, DFEM
Q4 2025 80$403.8MDFIC, SGOV, DFAC, DFCF, DFAT
Q3 2025 81$392.3MDFIC, SGOV, DFAC, DFCF, DFAT
Q2 2025 72$356.8MDFIC, SGOV, DFAC, DFCF, DFAT
Q1 2025 66$312.7MDFIC, SGOV, DFAC, DFCF, DFAT