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

0$100.0M$200.0M$300.0M$400.0M Q1 2024: $196.9M $196.9M Q1 2024 Q2 2024: $200.4M Q2 2024 Q3 2024: $214.4M Q3 2024 Q4 2024: $215.4M Q4 2024 Q1 2025: $216.9M Q1 2025 Q2 2025: $237.8M Q2 2025 Q3 2025: $258.8M Q3 2025 Q4 2025: $331.3M Q4 2025 Q1 2026: $326.5M Q1 2026 Q2 2026: $372.0M Q2 2026

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%
ELV Elevance Health Inc. 0.25% 962 $499K Add +2.9%
GOOG Alphabet Inc. Class C 0.25% 3,174 $483K No change
CRM Salesforce Inc. 0.25% 1,603 $483K New
DON Wisdomtree US Midcap Dividen 0.24% 9,760 $476K Add +1.7%
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP 0.24% 8,170 $471K Add +64.9%
MPC Marathon Petroleum Corp. 0.24% 2,301 $464K Add +3.0%
BMY Bristol-Myers Squibb Co. 0.23% 8,464 $459K Reduce -4.0%
MAR Marriott International Class A 0.23% 1,808 $456K Add +43.1%
EMLP First Trust North American E 0.23% 15,270 $451K No change
WDAY Workday Inc. Class A 0.22% 1,600 $436K Reduce -47.5%
OEF iShares S&P 100 ETF 0.21% 1,700 $421K No change
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.21% 3,425 $419K No change
DE Deere & Co. 0.21% 1,010 $415K No change
SCHD Schwab US DVD Equity ETF 0.21% 5,133 $414K Add +2.0%
TPH Tri Pointe Homes Inc. 0.21% 10,620 $411K New
MDT Medtronic PLC 0.21% 4,644 $405K Reduce -5.1%
CMF iShares California Muni Bond 0.20% 6,962 $401K New
GE General Electric 0.20% 2,254 $396K Add +2.3%
XLE SS Energy Select Sector 0.20% 4,094 $387K Reduce -11.1%
ORCL Oracle Corp. 0.20% 3,072 $386K Reduce -14.2%
BSX Boston Scientific Corp. 0.19% 5,522 $378K Add +14.2%
MNST Monster Beverage Corp. 0.18% 6,118 $363K Add +0.5%
VIG Vanguard Dividend Apprec ETF 0.18% 1,939 $354K Add +2.4%
TRV The Travelers Cos Inc. 0.18% 1,522 $350K No change
UNH Unitedhealth Group Inc. 0.17% 658 $326K No change
MCK McKesson Corp. 0.17% 605 $325K Reduce -4.7%
PHM Pultegroup Inc. 0.16% 2,620 $316K New
XLV SS Health Care Select Sector 0.16% 2,138 $316K Reduce -4.5%
PWR Quanta Services Inc. 0.16% 1,209 $314K No change
XLF SS Financial Select Sector 0.16% 7,333 $309K Reduce -14.4%
MRVL Marvell Technology Inc. 0.15% 4,305 $305K New
MCD McDonald's Corp. 0.15% 1,070 $302K Reduce -18.8%
COST Costco Wholesale Corp. 0.15% 398 $292K Add +4.7%
DLTR Dollar Tree Inc. 0.14% 2,018 $269K Reduce -6.0%
PAYX Paychex Inc. 0.14% 2,180 $268K Reduce -6.8%
IHDG Wisdomtree International Hed 0.14% 5,800 $266K Reduce -6.5%
SHW The Sherwin-Williams Co. 0.13% 750 $260K No change
IHG Intercontinental Hotels-ADR 0.13% 2,437 $257K New
MHO M/I Homes Inc. 0.13% 1,860 $254K Add +2.8%
VYM Vanguard High DVD Yield ETF 0.13% 2,075 $251K New
IRM Iron Mountain Inc. filed as IRON MTN INC DEL 0.13% 3,110 $249K New
IJH iShares Core S&P Midcap ETF 0.12% 4,001 $243K New
HCA HCA Healthcare Inc. 0.12% 708 $236K Reduce -12.4%
DTE DTE Energy Company 0.12% 2,088 $234K No change
SCHG Schwab US Large-Cap Growth 0.12% 2,521 $234K Add +0.1%
SCHV Schwab US Large-Cap Value 0.12% 3,080 $234K Add +0.1%
DOCU Docusign Inc. 0.12% 3,809 $227K Add +0.2%
IWR iShares Russell Mid-Cap ETF 0.12% 2,700 $227K New
RSG Republic Services Inc. 0.12% 1,185 $227K New
MSI Motorola Solutions Inc. 0.11% 600 $213K New
AIG American International Group 0.11% 2,700 $211K New
C Citigroup Inc. 0.10% 3,189 $202K New
IWF iShares Russell 1000 Growth 0.10% 600 $202K New

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

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 187$372.0MSPY, RSP, IWM, IEFA, AAPL
Q1 2026 171$326.5MSPY, RSP, IWM, IEFA, AAPL
Q4 2025 176$331.3MSPY, RSP, AAPL, MSFT, IWM
Q3 2025 149$258.8MSPY, RSP, MSFT, IWM, IEFA
Q2 2025 147$237.8MSPY, RSP, MSFT, IWM, IEFA
Q1 2025 146$216.9MSPY, RSP, IGIB, MSFT, IWM
Q4 2024 141$215.4MSPY, RSP, IWM, MSFT, IGIB
Q3 2024 147$214.4MSPY, RSP, IWM, MSFT, IGIB
Q2 2024 148$200.4MSPY, RSP, MSFT, IWM, IGIB
Q1 2024 153$196.9MSPY, MSFT, RSP, IWM, IEFA