Aspen Investment Management Inc
In its 13F for Q1 2024 (holdings as of March 31, 2024, filed April 26, 2024), Aspen Investment Management Inc reported 153 stock positions worth $196.9 million. Its top holding was SS SPDR S&P 500 ETF Trust-US (SPY) at 8.2% of the portfolio, followed by Microsoft (MSFT, 4.0%) and Invesco S&P 500 Equal Weight (RSP, 3.9%). Compared with Q4 2023, it opened 20 new positions, sold out of 6, added to 56 and reduced 62. The biggest buy was SS SPDR S&P 500 ETF Trust-US (SPY, shares +9%) and the biggest sale an exit from Adobe (ADBE).
- Most Recent 13F
- Q2 2026
- Location
- GRAND RAPIDS, MI
- CIK
- 0001541596
- Portfolio Value
- $196.9M (Q1 2024)
- SEC Filing
- 0001541596-24-000003 ↗ filed Apr 26, 2024
Holdings Value
Holdings 153 stocks · $196.9M
| SPY SS SPDR S&P 500 ETF Trust-US | 8.18% | 30,808 | $16.1M | Add +9.1% |
| MSFT Microsoft Corp. | 4.00% | 18,735 | $7.9M | Reduce -0.2% |
| RSP Invesco S&P 500 Equal Weight | 3.92% | 45,520 | $7.7M | Add +8.1% |
| IWM iShares Russell 2000 ETF | 3.11% | 29,077 | $6.1M | Add +0.1% |
| IEFA iShares Core MSCI Eafe ETF | 2.95% | 78,308 | $5.8M | Add +1.8% |
| IGIB iShares 5-10Y Inv Grade Corp. | 2.88% | 109,750 | $5.7M | Add +12.3% |
| FPE FT-Preferred Secur & Inc. ETF | 1.89% | 214,872 | $3.7M | Add +0.6% |
| JPM JPMorgan Chase & Co. | 1.88% | 18,433 | $3.7M | Reduce -0.5% |
| IGSB iShares 1-5Y Inv Grade Corp. | 1.87% | 71,928 | $3.7M | Add +12.8% |
| FTSL First Trust Senior Loan ETF | 1.75% | 74,730 | $3.5M | Reduce -15.1% |
| AAPL Apple Inc. | 1.64% | 18,840 | $3.2M | Add +4.6% |
| IVV iShares Core S&P 500 ETF | 1.53% | 5,736 | $3.0M | Add +0.6% |
| AMZN Amazon.com Inc. | 1.48% | 16,127 | $2.9M | Add +5.9% |
| BSCR Invesco Bulletshares 2027 CB | 1.45% | 148,230 | $2.9M | Add +12.8% |
| SPYG SS SPDR P S&P 500 Growth ETF | 1.37% | 36,909 | $2.7M | Reduce -25.7% |
| WMT Walmart Inc. | 1.33% | 43,567 | $2.6M | Reduce -1.3% |
| HYS PIMCO 0-5 Year H/Y Corp. Bond | 1.31% | 27,499 | $2.6M | Reduce -0.2% |
| GS Goldman Sachs Group Inc. | 1.28% | 6,016 | $2.5M | Reduce -1.7% |
| PEP Pepsico Inc. | 1.25% | 14,040 | $2.5M | Reduce -1.7% |
| HD Home Depot Inc. | 1.22% | 6,264 | $2.4M | Reduce -2.1% |
| CSX CSX Corp. | 1.18% | 62,838 | $2.3M | Reduce -1.6% |
| VNQ Vanguard Real Estate ETF | 1.04% | 23,619 | $2.0M | Reduce -2.2% |
| JNJ Johnson & Johnson | 1.03% | 12,850 | $2.0M | Add +0.2% |
| BSCS Invesco Bulletshares 2028 CB | 0.99% | 97,190 | $2.0M | Add +2.3% |
| DES Wisdomtree US Smallcap Divid | 0.98% | 59,308 | $1.9M | Reduce -0.8% |
| FICO Fair Isaac Corp. | 0.98% | 1,540 | $1.9M | Reduce -3.1% |
| V Visa Inc. Class A | 0.95% | 6,677 | $1.9M | Reduce -2.8% |
| SCHA Schwab US Small-Cap ETF | 0.91% | 36,474 | $1.8M | Add +1.0% |
| WM Waste Management Inc. | 0.90% | 8,302 | $1.8M | Reduce -0.6% |
| BSCQ Invesco Bulletshares 2026 CB | 0.90% | 91,920 | $1.8M | Add +1.5% |
| BSCP Invesco Bulletshares 2025 CB | 0.88% | 84,771 | $1.7M | Reduce -20.7% |
| ICE Intercontinental Exchange Inc. | 0.87% | 12,466 | $1.7M | Reduce -1.2% |
| XOM Exxon Mobil Corp. | 0.84% | 14,198 | $1.6M | Reduce -0.5% |
| ITW Illinois Tool Works | 0.84% | 6,141 | $1.6M | Reduce -1.9% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.83% | 8,549 | $1.6M | Add +9.4% |
| CVX Chevron Corp. | 0.82% | 10,243 | $1.6M | Reduce -0.2% |
| AMGN Amgen Inc. | 0.80% | 5,561 | $1.6M | Reduce -0.6% |
| TT Trane Technologies PLC | 0.80% | 5,260 | $1.6M | Reduce -3.6% |
| SYK Stryker Corp. | 0.79% | 4,368 | $1.6M | Add +0.7% |
| GOOGL Alphabet Inc. Class A | 0.79% | 10,307 | $1.6M | Reduce -18.6% |
| SCHW Schwab (charles) Corp. | 0.78% | 21,176 | $1.5M | Add +0.8% |
| SCHF Schwab Intl Equity ETF | 0.77% | 38,971 | $1.5M | Reduce -0.9% |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 0.76% | 6,004 | $1.5M | Reduce -0.8% |
| SCHX Schwab US Large-Cap ETF | 0.74% | 23,341 | $1.4M | Add +9.2% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.68% | 35,552 | $1.3M | Reduce -1.1% |
| HBAN Huntington Bancshares Inc. | 0.66% | 92,755 | $1.3M | Add +17.3% |
| ADP Automatic Data Processing | 0.66% | 5,168 | $1.3M | No change |
| INTC Intel Corp. | 0.61% | 27,144 | $1.2M | Reduce -35.2% |
| CAT Caterpillar Inc. | 0.60% | 3,228 | $1.2M | Reduce -7.2% |
| ABT Abbott Laboratories | 0.60% | 10,369 | $1.2M | Reduce -2.6% |
| PG The Procter & Gamble Co. | 0.60% | 7,252 | $1.2M | Add +0.1% |
| MDLZ Mondelez International Inc. Class A | 0.56% | 15,822 | $1.1M | Reduce -1.7% |
| CSCO Cisco Systems Inc. | 0.55% | 21,579 | $1.1M | Add +0.3% |
| MRK Merck & Co. Inc. | 0.54% | 8,040 | $1.1M | Add +11.4% |
| EW Edwards Lifesciences Corp. | 0.52% | 10,676 | $1.0M | Reduce -2.3% |
| JCI Johnson Controls Internation | 0.51% | 15,473 | $1.0M | Reduce -3.3% |
| EFA iShares MSCI Eafe ETF | 0.50% | 12,208 | $975K | Reduce -1.1% |
| CRWD CrowdStrike Holdings Inc. Class A | 0.49% | 3,030 | $971K | Reduce -22.6% |
| NEE Nextera Energy Inc. | 0.49% | 14,989 | $958K | Reduce -1.7% |
| AMD Advanced Micro Devices | 0.49% | 5,300 | $957K | Reduce -0.2% |
| ETN Eaton Corp. PLC | 0.48% | 3,027 | $946K | Add +3.1% |
| ABBV Abbvie Inc. | 0.47% | 5,136 | $935K | Add +2.6% |
| LMT Lockheed Martin Corp. | 0.47% | 2,024 | $921K | Reduce -9.0% |
| QCOM Qualcomm Inc. | 0.46% | 5,333 | $903K | New |
| BCI Abrdn Bloomberg All Commodit filed as ABRDN ETFS | 0.46% | 45,542 | $900K | Reduce -3.5% |
| VWO Vanguard Ftse Emerging Marke | 0.46% | 21,552 | $900K | Add +2.4% |
| PYPL PayPal Holdings Inc. | 0.46% | 13,401 | $898K | Reduce -47.6% |
| TMO Thermo Fisher Scientific Inc. | 0.44% | 1,500 | $872K | No change |
| LLY Eli Lilly & Co. | 0.44% | 1,102 | $857K | Add +1.7% |
| XLI SS Industrial Select Sector | 0.43% | 6,762 | $852K | Add +35.5% |
| IEMG iShares Core MSCI Emerging | 0.42% | 16,090 | $830K | Reduce -4.6% |
| NVDA Nvidia Corp. | 0.41% | 890 | $804K | New |
| ONTO Onto Innovation Inc. | 0.41% | 4,420 | $800K | Reduce -28.4% |
| MDY State Street SPDR S&P Midcap | 0.40% | 1,430 | $796K | Add +13.7% |
| ETD Ethan Allen Interiors Inc. | 0.40% | 22,646 | $783K | Reduce -2.4% |
| FTNT Fortinet Inc. | 0.39% | 11,380 | $777K | New |
| AXP American Express Co. | 0.39% | 3,355 | $764K | Add +1.0% |
| WMB Williams Cos Inc. | 0.38% | 19,415 | $757K | Reduce -0.8% |
| SCHC Schwab Intl Small-Cap Equity | 0.36% | 19,578 | $701K | Reduce -2.0% |
| KBE SS SPDR S&P Bank ETF | 0.35% | 14,780 | $696K | Add +0.5% |
| IWB iShares Russell 1000 ETF | 0.34% | 2,342 | $675K | No change |
| TXN Texas Instruments Inc. | 0.33% | 3,769 | $657K | Add +0.8% |
| COP Conocophillips | 0.33% | 5,088 | $648K | Add +0.6% |
| XLB SS Materials Select Sector | 0.33% | 6,888 | $640K | Add +80.7% |
| SHOP Shopify Inc. Class A | 0.32% | 8,155 | $629K | Add +82.6% |
| BCC Boise Cascade Co. | 0.32% | 4,080 | $626K | New |
| META Meta Platforms Inc. Class A | 0.32% | 1,290 | $626K | Add +0.4% |
| SCHM Schwab US Mid Cap ETF | 0.31% | 7,605 | $619K | Add +0.1% |
| KO The Coca-Cola Co. | 0.31% | 10,031 | $614K | Reduce -3.0% |
| WRB WR Berkley Corp. filed as BERKLEY W R CORP | 0.31% | 6,867 | $607K | Add +39.8% |
| XLK SS Technology Select Sector | 0.31% | 2,902 | $604K | Reduce -0.8% |
| AMAT Applied Materials Inc. | 0.30% | 2,900 | $598K | Add +0.3% |
| SCHE Schwab Emrg Mrkts Eqty ETF | 0.29% | 22,909 | $578K | Reduce -3.2% |
| OC Owens Corning | 0.29% | 3,445 | $575K | Add +44.4% |
| WFC Wells Fargo & Co. | 0.28% | 9,580 | $555K | No change |
| PINS Pinterest Inc. Class A | 0.27% | 15,460 | $536K | Reduce -33.1% |
| MET Metlife Inc. | 0.27% | 7,225 | $535K | New |
| DUK Duke Energy Corp. | 0.26% | 5,236 | $506K | No change |
| GLD SPDR Gold Shares | 0.26% | 2,447 | $503K | Add +128.3% |
| PFE Pfizer Inc. | 0.25% | 18,001 | $500K | Reduce -1.4% |
Portfolio Sells Q4 2023 → Q1 2024
| ADBE Adobe Inc. | Sold out | 0.00% | −0.58 |
| INTC Intel Corp. | Reduce -35.2% | 0.61% | −0.57 |
| FTSL First Trust Senior Loan ETF | Reduce -15.1% | 1.75% | −0.51 |
| SPYG SS SPDR P S&P 500 Growth ETF | Reduce -25.7% | 1.37% | −0.43 |
| PYPL PayPal Holdings Inc. | Reduce -47.6% | 0.46% | −0.42 |
| BSCP Invesco Bulletshares 2025 CB | Reduce -20.7% | 0.88% | −0.34 |
| MMM 3M Co. | Sold out | 0.00% | −0.30 |
| WDAY Workday Inc. Class A | Reduce -47.5% | 0.22% | −0.25 |
| EME Emcor Group Inc. | Sold out | 0.00% | −0.21 |
| PINS Pinterest Inc. Class A | Reduce -33.1% | 0.27% | −0.21 |
| GOOGL Alphabet Inc. Class A | Reduce -18.6% | 0.79% | −0.20 |
| VNQ Vanguard Real Estate ETF | Reduce -2.2% | 1.04% | −0.15 |
| DBX Dropbox Inc. Class A | Sold out | 0.00% | −0.15 |
| PCOR Procore Technologies Inc. | Sold out | 0.00% | −0.13 |
| HYS PIMCO 0-5 Year H/Y Corp. Bond | Reduce -0.2% | 1.31% | −0.13 |
| ONTO Onto Innovation Inc. | Reduce -28.4% | 0.41% | −0.12 |
| QQQX Nuveen Nasdaq 100 DYN Overwr | Sold out | 0.00% | −0.11 |
| PEP Pepsico Inc. | Reduce -1.7% | 1.25% | −0.11 |
| AMGN Amgen Inc. | Reduce -0.6% | 0.80% | −0.10 |
| LMT Lockheed Martin Corp. | Reduce -9.0% | 0.47% | −0.10 |
| DES Wisdomtree US Smallcap Divid | Reduce -0.8% | 0.98% | −0.09 |
| MDLZ Mondelez International Inc. Class A | Reduce -1.7% | 0.56% | −0.09 |
| ITW Illinois Tool Works | Reduce -1.9% | 0.84% | −0.08 |
| CRWD CrowdStrike Holdings Inc. Class A | Reduce -22.6% | 0.49% | −0.07 |
| MCD McDonald's Corp. | Reduce -18.8% | 0.15% | −0.07 |
| FICO Fair Isaac Corp. | Reduce -3.1% | 0.98% | −0.06 |
| ABT Abbott Laboratories | Reduce -2.6% | 0.60% | −0.06 |
| IEMG iShares Core MSCI Emerging | Reduce -4.6% | 0.42% | −0.06 |
| CSX CSX Corp. | Reduce -1.6% | 1.18% | −0.05 |
| BCI Abrdn Bloomberg All Commodit | Reduce -3.5% | 0.46% | −0.05 |
| V Visa Inc. Class A | Reduce -2.8% | 0.95% | −0.05 |
| GS Goldman Sachs Group Inc. | Reduce -1.7% | 1.28% | −0.04 |
| SCHF Schwab Intl Equity ETF | Reduce -0.9% | 0.77% | −0.04 |
| PFE Pfizer Inc. | Reduce -1.4% | 0.25% | −0.04 |
| ICE Intercontinental Exchange Inc. | Reduce -1.2% | 0.87% | −0.04 |
| CVX Chevron Corp. | Reduce -0.2% | 0.82% | −0.03 |
| SCHE Schwab Emrg Mrkts Eqty ETF | Reduce -3.2% | 0.29% | −0.03 |
| DLTR Dollar Tree Inc. | Reduce -6.0% | 0.14% | −0.03 |
| SCHC Schwab Intl Small-Cap Equity | Reduce -2.0% | 0.36% | −0.03 |
| NEE Nextera Energy Inc. | Reduce -1.7% | 0.49% | −0.03 |
| KO The Coca-Cola Co. | Reduce -3.0% | 0.31% | −0.03 |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | Reduce -0.8% | 0.76% | −0.02 |
| EFA iShares MSCI Eafe ETF | Reduce -1.1% | 0.50% | −0.02 |
| XLF SS Financial Select Sector | Reduce -14.4% | 0.16% | −0.02 |
| BMY Bristol-Myers Squibb Co. | Reduce -4.0% | 0.23% | −0.02 |
| PAYX Paychex Inc. | Reduce -6.8% | 0.14% | −0.02 |
| MDT Medtronic PLC | Reduce -5.1% | 0.21% | −0.02 |
| XLE SS Energy Select Sector | Reduce -11.1% | 0.20% | −0.02 |
| HD Home Depot Inc. | Reduce -2.1% | 1.22% | −0.02 |
| ETD Ethan Allen Interiors Inc. | Reduce -2.4% | 0.40% | −0.02 |
Portfolio Buys Q4 2023 → Q1 2024
| SPY SS SPDR S&P 500 ETF Trust-US | Add +9.1% | 8.18% | +0.68 |
| QCOM Qualcomm Inc. | New | 0.46% | +0.46 |
| NVDA Nvidia Corp. | New | 0.41% | +0.41 |
| FTNT Fortinet Inc. | New | 0.39% | +0.39 |
| BCC Boise Cascade Co. | New | 0.32% | +0.32 |
| MET Metlife Inc. | New | 0.27% | +0.27 |
| CRM Salesforce Inc. | New | 0.25% | +0.25 |
| TPH Tri Pointe Homes Inc. | New | 0.21% | +0.21 |
| CMF iShares California Muni Bond | New | 0.20% | +0.20 |
| RSP Invesco S&P 500 Equal Weight | Add +8.1% | 3.92% | +0.20 |
| AMZN Amazon.com Inc. | Add +5.9% | 1.48% | +0.19 |
| PHM Pultegroup Inc. | New | 0.16% | +0.16 |
| MRVL Marvell Technology Inc. | New | 0.15% | +0.15 |
| XLB SS Materials Select Sector | Add +80.7% | 0.33% | +0.14 |
| GLD SPDR Gold Shares | Add +128.3% | 0.26% | +0.14 |
| IHG Intercontinental Hotels-ADR | New | 0.13% | +0.13 |
| VYM Vanguard High DVD Yield ETF | New | 0.13% | +0.13 |
| IRM Iron Mountain Inc. | New | 0.13% | +0.13 |
| SHOP Shopify Inc. Class A | Add +82.6% | 0.32% | +0.13 |
| IJH iShares Core S&P Midcap ETF | New | 0.12% | +0.12 |
| IBM Intl Business Machines Corp. | Add +9.4% | 0.83% | +0.12 |
| IWR iShares Russell Mid-Cap ETF | New | 0.12% | +0.12 |
| RSG Republic Services Inc. | New | 0.12% | +0.12 |
| XLI SS Industrial Select Sector | Add +35.5% | 0.43% | +0.11 |
| WRB WR Berkley Corp. | Add +39.8% | 0.31% | +0.11 |
| MSI Motorola Solutions Inc. | New | 0.11% | +0.11 |
| AIG American International Group | New | 0.11% | +0.11 |
| C Citigroup Inc. | New | 0.10% | +0.10 |
| IWF iShares Russell 1000 Growth | New | 0.10% | +0.10 |
| MRK Merck & Co. Inc. | Add +11.4% | 0.54% | +0.10 |
| BNY Bank of New York Mellon Corp. | Add +64.9% | 0.24% | +0.10 |
| HBAN Huntington Bancshares Inc. | Add +17.3% | 0.66% | +0.10 |
| OC Owens Corning | Add +44.4% | 0.29% | +0.09 |
| ETN Eaton Corp. PLC | Add +3.1% | 0.48% | +0.09 |
| LLY Eli Lilly & Co. | Add +1.7% | 0.44% | +0.08 |
| MAR Marriott International Class A | Add +43.1% | 0.23% | +0.07 |
| SYK Stryker Corp. | Add +0.7% | 0.79% | +0.07 |
| META Meta Platforms Inc. Class A | Add +0.4% | 0.32% | +0.06 |
| SCHX Schwab US Large-Cap ETF | Add +9.2% | 0.74% | +0.06 |
| MPC Marathon Petroleum Corp. | Add +3.0% | 0.24% | +0.05 |
| MDY State Street SPDR S&P Midcap | Add +13.7% | 0.40% | +0.05 |
| IGSB iShares 1-5Y Inv Grade Corp. | Add +12.8% | 1.87% | +0.05 |
| GE General Electric | Add +2.3% | 0.20% | +0.04 |
| AMAT Applied Materials Inc. | Add +0.3% | 0.30% | +0.04 |
| ABBV Abbvie Inc. | Add +2.6% | 0.47% | +0.04 |
| AXP American Express Co. | Add +1.0% | 0.39% | +0.04 |
| IGIB iShares 5-10Y Inv Grade Corp. | Add +12.3% | 2.88% | +0.04 |
| BSX Boston Scientific Corp. | Add +14.2% | 0.19% | +0.04 |
| BSCR Invesco Bulletshares 2027 CB | Add +12.8% | 1.45% | +0.02 |
| IVV iShares Core S&P 500 ETF | Add +0.6% | 1.53% | +0.01 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 187 | $372.0M | SPY, RSP, IWM, IEFA, AAPL |
| Q1 2026 | 171 | $326.5M | SPY, RSP, IWM, IEFA, AAPL |
| Q4 2025 | 176 | $331.3M | SPY, RSP, AAPL, MSFT, IWM |
| Q3 2025 | 149 | $258.8M | SPY, RSP, MSFT, IWM, IEFA |
| Q2 2025 | 147 | $237.8M | SPY, RSP, MSFT, IWM, IEFA |
| Q1 2025 | 146 | $216.9M | SPY, RSP, IGIB, MSFT, IWM |
| Q4 2024 | 141 | $215.4M | SPY, RSP, IWM, MSFT, IGIB |
| Q3 2024 | 147 | $214.4M | SPY, RSP, IWM, MSFT, IGIB |
| Q2 2024 | 148 | $200.4M | SPY, RSP, MSFT, IWM, IGIB |
| Q1 2024 | 153 | $196.9M | SPY, MSFT, RSP, IWM, IEFA |