Aspen Capital Management, LLC

In its 13F for Q1 2026 (holdings as of March 31, 2026, filed April 20, 2026), Aspen Capital Management, LLC reported 77 stock positions worth $404.0 million. Its top holding was Dimensional International (DFIC) at 20.0% of the portfolio, followed by Dimensional US Core Equity 2 (DFAC, 14.4%) and iShares 0-3 Month Treasury B (SGOV, 13.3%). Compared with Q4 2025, it opened 4 new positions, sold out of 7, added to 25 and reduced 17. The biggest buy was Dimensional US Core Equity 2 (DFAC, shares +9%) and the biggest sale iShares 0-3 Month Treasury B (SGOV, shares −15%).

Most Recent 13F
Q2 2026
Location
BOISE, ID
CIK
0002065974
Portfolio Value
$404.0M (Q1 2026)
SEC Filing
0002065974-26-000002 ↗ filed Apr 20, 2026

Holdings Value

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

Holdings 77 stocks · $404.0M
DFIC Dimensional International Co. 20.02% 2,275,858 $80.9M Add +0.3%
DFAC Dimensional US Core Equity 2 14.36% 1,492,918 $58.0M Add +8.6%
SGOV iShares 0-3 Month Treasury B 13.29% 533,554 $53.7M Reduce -15.0%
DFCF Dimensional Core Fixed Inc. 8.60% 823,112 $34.8M Add +9.9%
DFEM Dimensional Emrg MRKT Core 4.57% 534,371 $18.5M Add +1.8%
DFAT Dimensional US Target Value 4.29% 277,274 $17.3M Reduce -5.3%
DFAS Dimensional US Small Cap ETF 3.81% 216,261 $15.4M Reduce -2.0%
DFGR Dim Global Real Estate ETF 3.60% 546,636 $14.5M Add +1.0%
USB US Bancorp 2.77% 215,148 $11.2M Add +0.0%
DFSV Dimensional US Small Cap Val 2.43% 280,152 $9.8M Add +1.4%
DCOR Dimensional US Core Eq 1 ETF 2.10% 117,840 $8.5M Add +12.0%
DFAX Dimensional World Ex US Core 1.69% 200,460 $6.8M Add +1.8%
AAPL Apple Inc. 1.38% 22,023 $5.6M Reduce -2.6%
IWB iShares Russell 1000 ETF 1.31% 14,805 $5.3M Reduce -1.1%
NVDA Nvidia Corp. 1.17% 27,079 $4.7M Reduce -2.3%
DFSU Dimensional US Sus CORE1 ETF 1.16% 114,276 $4.7M Reduce -3.9%
DFSI Dimensional Int Sus COR1 ETF 0.96% 91,590 $3.9M Reduce -0.1%
DFUV Dimensional US Marketwide Va 0.88% 73,758 $3.6M Add +0.1%
AVDE Avantis International Equity 0.78% 37,271 $3.2M Add +0.0%
QQQ Invesco QQQ Trust Series 1 0.77% 5,376 $3.1M Add +0.9%
MSFT Microsoft Corp. 0.71% 7,726 $2.9M Reduce -5.0%
DUSB Dimension Ultrashort Fi ETF 0.59% 47,403 $2.4M New
IVV iShares Core S&P 500 ETF 0.57% 3,514 $2.3M Reduce -3.1%
DFAW Dimensional World Eqty ETF 0.48% 26,050 $1.9M Add +11.9%
IWM iShares Russell 2000 ETF 0.47% 7,683 $1.9M Reduce -0.3%
AVUS Avantis U.S. Equity ETF 0.40% 14,662 $1.6M No change
SPY SS SPDR S&P 500 ETF Trust-US 0.37% 2,320 $1.5M Reduce -2.3%
EFA iShares MSCI Eafe ETF 0.34% 14,000 $1.4M No change
VTI VG Morningstar TS MKT ETF-US 0.34% 4,229 $1.4M Add +0.0%
DIA SS SPDR Dow Jones Indus Avg filed as STATE STR SPDR DOW JONES IND 0.33% 2,850 $1.3M No change
VTV Vanguard Mrngstr Val ETF-Aui 0.32% 6,633 $1.3M Add +0.2%
JPM JPMorgan Chase & Co. 0.30% 4,172 $1.2M Reduce -12.8%
AMZN Amazon.com Inc. 0.29% 5,685 $1.2M Add +2.2%
VT Vanguard Tot World STK ETF 0.27% 7,909 $1.1M Reduce -0.7%
AVUV Avantis US Small Cap Value 0.27% 9,752 $1.1M No change
PAYO Payoneer Global Inc. 0.23% 194,222 $938K No change
GOOGL Alphabet Inc. Class A 0.22% 3,035 $873K No change
GOOG Alphabet Inc. Class C 0.21% 3,023 $867K No change
DFSE Dimensional Em Sus CORE1 ETF 0.21% 20,087 $851K Add +6.3%
BRK.A Berkshire Hathaway Inc. Class A 0.18% 1 $718K No change
BRK.B Berkshire Hathaway Inc. Class B 0.13% 1,078 $517K No change
ISRG Intuitive Surgical Inc. 0.13% 1,111 $512K No change
CASY Casey's General Stores Inc. 0.13% 702 $511K No change
VOO Vanguard S&P 500 ETF 0.12% 819 $489K No change
ESGV Vanguard ESG US Stock ETF 0.11% 3,953 $444K Add +0.3%
EEM iShares MSCI Emerging Market 0.10% 7,314 $415K No change
CAT Caterpillar Inc. 0.10% 584 $414K No change
DFSB Dim GLB Sustain Fix Inc. ETF 0.10% 7,939 $411K No change
COST Costco Wholesale Corp. 0.10% 410 $408K Reduce -21.0%
MU Micron Technology Inc. 0.10% 1,193 $403K No change
SCHX Schwab US Large-Cap ETF 0.10% 15,370 $394K Add +0.3%
VB Vanguard Most SM-Cap ETF-Usd 0.09% 1,403 $367K No change
RBLX Roblox Corp. Class A 0.08% 5,973 $338K No change
CGGO Cap Group Global Growth filed as CAPITAL GROUP GBL GROWTH EQT 0.08% 9,974 $333K No change
HPQ HP Inc. 0.08% 16,899 $325K Reduce -4.8%
HPE Hewlett Packard Enterprise 0.07% 12,689 $302K Add +4.8%
LLY Eli Lilly & Co. 0.07% 320 $294K No change
A Agilent Technologies Inc. 0.07% 2,573 $293K No change
SCHF Schwab Intl Equity ETF 0.07% 11,845 $293K Add +0.5%
MRK Merck & Co. Inc. 0.07% 2,357 $284K No change
FDN First Trust DJ Internet Ind 0.07% 1,205 $282K No change
SHOP Shopify Inc. Class A 0.07% 2,300 $273K No change
VXUS Vanguard Total Intl Stock 0.07% 3,538 $273K Reduce -0.2%
ABBV Abbvie Inc. 0.07% 1,249 $272K No change
TSLA Tesla Inc. 0.07% 729 $271K No change
FNX First Trust Mid Cap Core Alp 0.07% 2,084 $267K No change
KEYS Keysight Technologies Inc. 0.06% 929 $262K New
DE Deere & Co. 0.06% 461 $260K No change
LRCX Lam Research Corp. 0.06% 1,210 $259K No change
AVEM Avantis Emerging Markets Eq 0.06% 2,931 $236K Add +0.0%
FYX First Trust Small Cap Core A 0.06% 1,974 $236K No change
SCHB Schwab US Broad Market ETF 0.06% 8,939 $224K Add +6.2%
AGG iShares Core U.S. Aggregate 0.06% 2,260 $224K Add +1.4%
IJH iShares Core S&P Midcap ETF 0.05% 3,280 $222K Add +0.1%
LRN Stride Inc. 0.05% 2,461 $217K New
AVGE Avantis All Eqty Mrkts ETF 0.05% 2,336 $206K New
CGUS Cap Group Core Equity filed as CAPITAL GROUP CORE EQUITY ET 0.05% 5,207 $200K No change

Portfolio Sells Q4 2025 → Q1 2026
SGOV iShares 0-3 Month Treasury B Reduce -15.0% 13.29% −2.31
MSFT Microsoft Corp. Reduce -5.0% 0.71% −0.27
AAPL Apple Inc. Reduce -2.6% 1.38% −0.14
DFSU Dimensional US Sus CORE1 ETF Reduce -3.9% 1.16% −0.12
NVDA Nvidia Corp. Reduce -2.3% 1.17% −0.11
IWB iShares Russell 1000 ETF Reduce -1.1% 1.31% −0.08
JPM JPMorgan Chase & Co. Reduce -12.8% 0.30% −0.08
AXP American Express Co. Sold out 0.00% −0.07
META Meta Platforms Inc. Class A Sold out 0.00% −0.06
BLK BlackRock Inc. Sold out 0.00% −0.05
CMG Chipotle Mexican Grill Inc. Sold out 0.00% −0.05
HD Home Depot Inc. Sold out 0.00% −0.05
VONG Vanguard Russell 1000 Growth Sold out 0.00% −0.05
CGGR Cap Group Growth Equity Sold out 0.00% −0.05
IVV iShares Core S&P 500 ETF Reduce -3.1% 0.57% −0.05
DFAT Dimensional US Target Value Reduce -5.3% 4.29% −0.03
SPY SS SPDR S&P 500 ETF Trust-US Reduce -2.3% 0.37% −0.03
HPQ HP Inc. Reduce -4.8% 0.08% −0.02
DFSI Dimensional Int Sus COR1 ETF Reduce -0.1% 0.96% −0.01
COST Costco Wholesale Corp. Reduce -21.0% 0.10% −0.01
VT Vanguard Tot World STK ETF Reduce -0.7% 0.27% −0.01
DFAS Dimensional US Small Cap ETF Reduce -2.0% 3.81% −0.00
VXUS Vanguard Total Intl Stock Reduce -0.2% 0.07% +0.00
IWM iShares Russell 2000 ETF Reduce -0.3% 0.47% +0.00

Portfolio Buys Q4 2025 → Q1 2026
DFAC Dimensional US Core Equity 2 Add +8.6% 14.36% +0.88
DFCF Dimensional Core Fixed Inc. Add +9.9% 8.60% +0.71
DFIC Dimensional International Co. Add +0.3% 20.02% +0.66
DUSB Dimension Ultrashort Fi ETF New 0.59% +0.59
DFEM Dimensional Emrg MRKT Core Add +1.8% 4.57% +0.27
DCOR Dimensional US Core Eq 1 ETF Add +12.0% 2.10% +0.18
DFSV Dimensional US Small Cap Val Add +1.4% 2.43% +0.18
DFAX Dimensional World Ex US Core Add +1.8% 1.69% +0.09
KEYS Keysight Technologies Inc. New 0.06% +0.06
DFGR Dim Global Real Estate ETF Add +1.0% 3.60% +0.06
LRN Stride Inc. New 0.05% +0.05
AVGE Avantis All Eqty Mrkts ETF New 0.05% +0.05
DFAW Dimensional World Eqty ETF Add +11.9% 0.48% +0.05
DFUV Dimensional US Marketwide Va Add +0.1% 0.88% +0.03
AVDE Avantis International Equity Add +0.0% 0.78% +0.02
DFSE Dimensional Em Sus CORE1 ETF Add +6.3% 0.21% +0.02
VTV Vanguard Mrngstr Val ETF-Aui Add +0.2% 0.32% +0.01
HPE Hewlett Packard Enterprise Add +4.8% 0.07% +0.00
AVEM Avantis Emerging Markets Eq Add +0.0% 0.06% +0.00
SCHF Schwab Intl Equity ETF Add +0.5% 0.07% +0.00
IJH iShares Core S&P Midcap ETF Add +0.1% 0.05% +0.00
SCHB Schwab US Broad Market ETF Add +6.2% 0.06% +0.00
AGG iShares Core U.S. Aggregate Add +1.4% 0.06% +0.00
SCHX Schwab US Large-Cap ETF Add +0.3% 0.10% −0.00
ESGV Vanguard ESG US Stock ETF Add +0.3% 0.11% −0.01
VTI VG Morningstar TS MKT ETF-US Add +0.0% 0.34% −0.02
AMZN Amazon.com Inc. Add +2.2% 0.29% −0.03
QQQ Invesco QQQ Trust Series 1 Add +0.9% 0.77% −0.04
USB US Bancorp Add +0.0% 2.77% −0.07

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