Aspen Investment Management Inc
In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 8, 2024), Aspen Investment Management Inc reported 147 stock positions worth $214.4 million. Its top holding was SS SPDR S&P 500 ETF Trust-US (SPY) at 8.9% of the portfolio, followed by Invesco S&P 500 Equal Weight (RSP, 4.8%) and iShares Russell 2000 ETF (IWM, 3.6%). Compared with Q2 2024, it opened 7 new positions, sold out of 8, added to 54 and reduced 54. The biggest buy was iShares Russell 2000 ETF (IWM, shares +19%) and the biggest sale Microsoft (MSFT, shares −5%).
- Most Recent 13F
- Q2 2026
- Location
- GRAND RAPIDS, MI
- CIK
- 0001541596
- Portfolio Value
- $214.4M (Q3 2024)
- SEC Filing
- 0001541596-24-000006 ↗ filed Nov 8, 2024
Holdings Value
Holdings 147 stocks · $214.4M
| SPY SS SPDR S&P 500 ETF Trust-US | 8.95% | 33,438 | $19.2M | Add +2.2% |
| RSP Invesco S&P 500 Equal Weight | 4.83% | 57,844 | $10.4M | Add +12.6% |
| IWM iShares Russell 2000 ETF | 3.63% | 35,220 | $7.8M | Add +18.9% |
| MSFT Microsoft Corp. | 3.59% | 17,892 | $7.7M | Reduce -5.1% |
| IGIB iShares 5-10Y Inv Grade Corp. | 2.94% | 117,460 | $6.3M | Add +2.5% |
| IEFA iShares Core MSCI Eafe ETF | 2.87% | 78,945 | $6.2M | Add +1.0% |
| IGSB iShares 1-5Y Inv Grade Corp. | 2.11% | 86,006 | $4.5M | Add +4.5% |
| AAPL Apple Inc. | 1.87% | 17,230 | $4.0M | Reduce -0.4% |
| FPE FT-Preferred Secur & Inc. ETF | 1.83% | 217,216 | $3.9M | Add +0.3% |
| JPM JPMorgan Chase & Co. | 1.79% | 18,189 | $3.8M | Add +0.3% |
| WMT Walmart Inc. | 1.66% | 44,126 | $3.6M | Add +0.1% |
| IVV iShares Core S&P 500 ETF | 1.54% | 5,727 | $3.3M | Reduce -0.2% |
| FTSL First Trust Senior Loan ETF | 1.49% | 69,733 | $3.2M | Reduce -1.1% |
| SPYG SS SPDR P S&P 500 Growth ETF | 1.48% | 38,256 | $3.2M | Add +2.7% |
| AMZN Amazon.com Inc. | 1.39% | 16,031 | $3.0M | Add +0.9% |
| GS Goldman Sachs Group Inc. | 1.39% | 6,028 | $3.0M | Add +0.0% |
| VNQ Vanguard Real Estate ETF | 1.39% | 30,584 | $3.0M | Add +33.7% |
| BSCR Invesco Bulletshares 2027 CB | 1.35% | 146,750 | $2.9M | Add +0.9% |
| FICO Fair Isaac Corp. | 1.30% | 1,430 | $2.8M | Reduce -2.4% |
| GLD SPDR Gold Shares | 1.26% | 11,157 | $2.7M | Add +0.2% |
| HD Home Depot Inc. | 1.18% | 6,249 | $2.5M | Reduce -0.1% |
| HYS PIMCO 0-5 Year H/Y Corp. Bond | 1.18% | 26,402 | $2.5M | Reduce -1.7% |
| PEP Pepsico Inc. | 1.11% | 14,056 | $2.4M | Reduce -0.2% |
| CSX CSX Corp. | 0.99% | 61,708 | $2.1M | No change |
| TT Trane Technologies PLC | 0.96% | 5,286 | $2.1M | Reduce -0.4% |
| ICE Intercontinental Exchange Inc. | 0.94% | 12,556 | $2.0M | Reduce -0.0% |
| DES Wisdomtree US Smallcap Divid | 0.94% | 58,213 | $2.0M | Reduce -1.9% |
| BSCS Invesco Bulletshares 2028 CB | 0.93% | 97,090 | $2.0M | Add +1.6% |
| JNJ Johnson & Johnson | 0.92% | 12,147 | $2.0M | Reduce -0.3% |
| SCHA Schwab US Small-Cap ETF | 0.92% | 38,182 | $2.0M | Add +3.9% |
| V Visa Inc. Class A | 0.91% | 7,072 | $1.9M | Add +1.5% |
| GOOGL Alphabet Inc. Class A | 0.89% | 11,510 | $1.9M | Reduce -22.7% |
| BSCQ Invesco Bulletshares 2026 CB | 0.85% | 92,885 | $1.8M | Add +0.8% |
| AMGN Amgen Inc. | 0.83% | 5,556 | $1.8M | Add +0.3% |
| XLI SS Industrial Select Sector | 0.81% | 12,862 | $1.7M | No change |
| WM Waste Management Inc. | 0.81% | 8,363 | $1.7M | Reduce -0.3% |
| BSCP Invesco Bulletshares 2025 CB | 0.77% | 80,192 | $1.7M | Reduce -5.7% |
| XOM Exxon Mobil Corp. | 0.77% | 14,082 | $1.7M | Reduce -0.8% |
| SCHX Schwab US Large-Cap ETF | 0.77% | 24,218 | $1.6M | Add +0.8% |
| XLU St Sr Utl SL SE SPDR ETF-Usd | 0.76% | 20,290 | $1.6M | Add +3.1% |
| ITW Illinois Tool Works | 0.76% | 6,236 | $1.6M | Reduce -0.4% |
| SYK Stryker Corp. | 0.76% | 4,514 | $1.6M | Add +2.9% |
| HBAN Huntington Bancshares Inc. | 0.75% | 109,950 | $1.6M | Add +3.2% |
| SCHF Schwab Intl Equity ETF | 0.75% | 38,879 | $1.6M | Reduce -0.4% |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 0.71% | 5,801 | $1.5M | Reduce -3.2% |
| CVX Chevron Corp. | 0.70% | 10,151 | $1.5M | Reduce -0.5% |
| ADP Automatic Data Processing | 0.67% | 5,168 | $1.4M | No change |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.64% | 34,350 | $1.4M | Reduce -1.6% |
| MDY State Street SPDR S&P Midcap | 0.61% | 2,286 | $1.3M | Add +59.9% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.60% | 5,815 | $1.3M | Add +0.2% |
| PG The Procter & Gamble Co. | 0.60% | 7,378 | $1.3M | Reduce -1.3% |
| NEE Nextera Energy Inc. | 0.59% | 14,955 | $1.3M | Reduce -0.4% |
| CAT Caterpillar Inc. | 0.56% | 3,076 | $1.2M | Add +0.1% |
| JCI Johnson Controls Internation | 0.55% | 15,323 | $1.2M | No change |
| MDLZ Mondelez International Inc. Class A | 0.54% | 15,820 | $1.2M | Add +0.6% |
| LMT Lockheed Martin Corp. | 0.54% | 1,974 | $1.2M | No change |
| CSCO Cisco Systems Inc. | 0.50% | 20,060 | $1.1M | Reduce -3.6% |
| PYPL PayPal Holdings Inc. | 0.49% | 13,466 | $1.1M | No change |
| LLY Eli Lilly & Co. | 0.49% | 1,184 | $1.0M | Add +6.6% |
| MRK Merck & Co. Inc. | 0.48% | 9,082 | $1.0M | Add +1.2% |
| VWO Vanguard Ftse Emerging Marke | 0.48% | 21,406 | $1.0M | Reduce -0.1% |
| EFA iShares MSCI Eafe ETF | 0.48% | 12,208 | $1.0M | No change |
| ETN Eaton Corp. PLC | 0.48% | 3,073 | $1.0M | Reduce -0.4% |
| ABBV Abbvie Inc. | 0.47% | 5,086 | $1.0M | No change |
| SCHW Schwab (charles) Corp. | 0.43% | 14,371 | $931K | Reduce -33.3% |
| TMO Thermo Fisher Scientific Inc. | 0.43% | 1,500 | $928K | No change |
| WMB Williams Cos Inc. | 0.43% | 20,094 | $917K | Add +0.8% |
| ABT Abbott Laboratories | 0.42% | 7,931 | $904K | Add +0.7% |
| AXP American Express Co. | 0.42% | 3,315 | $899K | No change |
| NVDA Nvidia Corp. | 0.41% | 7,294 | $886K | Add +9.2% |
| IEMG iShares Core MSCI Emerging | 0.41% | 15,190 | $872K | Reduce -2.0% |
| BCI Abrdn Bloomberg All Commodit filed as ABRDN ETFS | 0.39% | 41,313 | $844K | Reduce -6.0% |
| BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP | 0.39% | 11,590 | $833K | Add +0.3% |
| META Meta Platforms Inc. Class A | 0.38% | 1,434 | $821K | Reduce -30.3% |
| XLB SS Materials Select Sector | 0.36% | 7,993 | $770K | Add +0.1% |
| TXN Texas Instruments Inc. | 0.36% | 3,697 | $764K | No change |
| SCHC Schwab Intl Small-Cap Equity | 0.35% | 19,578 | $754K | Reduce -0.2% |
| IWB iShares Russell 1000 ETF | 0.34% | 2,342 | $736K | No change |
| EW Edwards Lifesciences Corp. | 0.33% | 10,876 | $718K | No change |
| KO The Coca-Cola Co. | 0.33% | 9,696 | $697K | Reduce -2.9% |
| ETD Ethan Allen Interiors Inc. | 0.32% | 21,296 | $679K | Reduce -3.8% |
| SCHE Schwab Emrg Mrkts Eqty ETF | 0.31% | 22,965 | $670K | Add +0.3% |
| HPQ HP Inc. | 0.31% | 18,345 | $658K | New |
| SCHM Schwab US Mid Cap ETF | 0.30% | 7,700 | $640K | Add +0.0% |
| GNRC Generac Holdings Inc. | 0.30% | 4,020 | $639K | New |
| CMF iShares California Muni Bond | 0.29% | 10,881 | $632K | Add +24.9% |
| XLK SS Technology Select Sector | 0.29% | 2,750 | $621K | No change |
| BSX Boston Scientific Corp. | 0.28% | 7,168 | $601K | Add +14.3% |
| MET Metlife Inc. | 0.28% | 7,255 | $598K | Add +0.6% |
| GOOG Alphabet Inc. Class C | 0.28% | 3,535 | $591K | Add +11.0% |
| AMAT Applied Materials Inc. | 0.27% | 2,890 | $584K | Add +0.7% |
| DUK Duke Energy Corp. | 0.27% | 5,048 | $582K | Reduce -0.3% |
| COP Conocophillips | 0.26% | 5,234 | $551K | Add +0.9% |
| WFC Wells Fargo & Co. | 0.25% | 9,480 | $536K | No change |
| ELV Elevance Health Inc. | 0.25% | 1,021 | $531K | Add +1.7% |
| ORCL Oracle Corp. | 0.24% | 3,073 | $524K | Add +0.0% |
| EMLP First Trust North American E | 0.24% | 15,270 | $513K | No change |
| CB Chubb Ltd. | 0.24% | 1,760 | $508K | New |
| PFE Pfizer Inc. | 0.23% | 17,301 | $501K | No change |
| DON Wisdomtree US Midcap Dividen | 0.23% | 9,630 | $492K | Reduce -1.0% |
Portfolio Sells Q2 2024 → Q3 2024
| MSFT Microsoft Corp. | Reduce -5.1% | 3.59% | −0.61 |
| CRWD CrowdStrike Holdings Inc. Class A | Sold out | 0.00% | −0.57 |
| GOOGL Alphabet Inc. Class A | Reduce -22.7% | 0.89% | −0.46 |
| QCOM Qualcomm Inc. | Sold out | 0.00% | −0.38 |
| SCHW Schwab (charles) Corp. | Reduce -33.3% | 0.43% | −0.36 |
| ONTO Onto Innovation Inc. | Reduce -61.5% | 0.16% | −0.32 |
| OC Owens Corning | Sold out | 0.00% | −0.30 |
| ALLY Ally Financial Inc. | Sold out | 0.00% | −0.22 |
| PINS Pinterest Inc. Class A | Sold out | 0.00% | −0.17 |
| META Meta Platforms Inc. Class A | Reduce -30.3% | 0.38% | −0.14 |
| FTSL First Trust Senior Loan ETF | Reduce -1.1% | 1.49% | −0.12 |
| MCK McKesson Corp. | Sold out | 0.00% | −0.12 |
| RSG Republic Services Inc. | Sold out | 0.00% | −0.11 |
| C Citigroup Inc. | Sold out | 0.00% | −0.10 |
| CVX Chevron Corp. | Reduce -0.5% | 0.70% | −0.10 |
| INTC Intel Corp. | Reduce -1.7% | 0.22% | −0.10 |
| BSCP Invesco Bulletshares 2025 CB | Reduce -5.7% | 0.77% | −0.10 |
| CIBR First Trust Nasdaq Cybersecu | Reduce -45.8% | 0.10% | −0.09 |
| WM Waste Management Inc. | Reduce -0.3% | 0.81% | −0.08 |
| HYS PIMCO 0-5 Year H/Y Corp. Bond | Reduce -1.7% | 1.18% | −0.07 |
| BAC Bank of America Corp. | Reduce -1.6% | 0.64% | −0.06 |
| BCI Abrdn Bloomberg All Commodit | Reduce -6.0% | 0.39% | −0.05 |
| XOM Exxon Mobil Corp. | Reduce -0.8% | 0.77% | −0.05 |
| PEP Pepsico Inc. | Reduce -0.2% | 1.11% | −0.04 |
| MPC Marathon Petroleum Corp. | Reduce -2.1% | 0.20% | −0.03 |
| IVV iShares Core S&P 500 ETF | Reduce -0.2% | 1.54% | −0.03 |
| DIS The Walt Disney Co. | Reduce -7.3% | 0.13% | −0.03 |
| XLE SS Energy Select Sector | Reduce -2.4% | 0.16% | −0.02 |
| PG The Procter & Gamble Co. | Reduce -1.3% | 0.60% | −0.02 |
| XLV SS Health Care Select Sector | Reduce -9.9% | 0.15% | −0.02 |
| MAR Marriott International Class A | Reduce -2.2% | 0.21% | −0.01 |
| UNH Unitedhealth Group Inc. | Reduce -13.7% | 0.15% | −0.01 |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | Reduce -3.2% | 0.71% | −0.01 |
| PAYX Paychex Inc. | Reduce -11.6% | 0.12% | −0.01 |
| ETN Eaton Corp. PLC | Reduce -0.4% | 0.48% | −0.01 |
| IEMG iShares Core MSCI Emerging | Reduce -2.0% | 0.41% | −0.01 |
| SCHD Schwab US DVD Equity ETF | Reduce -4.5% | 0.20% | −0.01 |
| SCHV Schwab US Large-Cap Value | Reduce -4.6% | 0.11% | −0.00 |
| SCHF Schwab Intl Equity ETF | Reduce -0.4% | 0.75% | −0.00 |
| DON Wisdomtree US Midcap Dividen | Reduce -1.0% | 0.23% | +0.00 |
| MSI Motorola Solutions Inc. | Reduce -5.8% | 0.12% | +0.00 |
| XLF SS Financial Select Sector | Reduce -1.4% | 0.15% | +0.00 |
| GLW Corning Inc. | Reduce -4.9% | 0.10% | +0.00 |
| SCHC Schwab Intl Small-Cap Equity | Reduce -0.2% | 0.35% | +0.00 |
| MDT Medtronic PLC | Reduce -4.5% | 0.18% | +0.00 |
| MCD McDonald's Corp. | Reduce -7.9% | 0.14% | +0.00 |
| CSCO Cisco Systems Inc. | Reduce -3.6% | 0.50% | +0.01 |
| DOCU Docusign Inc. | Reduce -0.4% | 0.11% | +0.01 |
| KO The Coca-Cola Co. | Reduce -2.9% | 0.33% | +0.01 |
| ETD Ethan Allen Interiors Inc. | Reduce -3.8% | 0.32% | +0.01 |
Portfolio Buys Q2 2024 → Q3 2024
| IWM iShares Russell 2000 ETF | Add +18.9% | 3.63% | +0.63 |
| RSP Invesco S&P 500 Equal Weight | Add +12.6% | 4.83% | +0.62 |
| VNQ Vanguard Real Estate ETF | Add +33.7% | 1.39% | +0.43 |
| HPQ HP Inc. | New | 0.31% | +0.31 |
| GNRC Generac Holdings Inc. | New | 0.30% | +0.30 |
| CB Chubb Ltd. | New | 0.24% | +0.24 |
| MDY State Street SPDR S&P Midcap | Add +59.9% | 0.61% | +0.23 |
| XLY SS Consumer Disc Select Sect | New | 0.19% | +0.19 |
| WMT Walmart Inc. | Add +0.1% | 1.66% | +0.17 |
| PHM Pultegroup Inc. | New | 0.16% | +0.16 |
| XLP SS Consumer Staples Sel Sect | New | 0.14% | +0.14 |
| BLD Topbuild Corp. | New | 0.11% | +0.11 |
| IBM Intl Business Machines Corp. | Add +0.2% | 0.60% | +0.10 |
| XLU St Sr Utl SL SE SPDR ETF-Usd | Add +3.1% | 0.76% | +0.10 |
| IRM Iron Mountain Inc. | Add +23.8% | 0.22% | +0.08 |
| GLD SPDR Gold Shares | Add +0.2% | 1.26% | +0.07 |
| PWR Quanta Services Inc. | Add +27.1% | 0.22% | +0.06 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +2.2% | 8.95% | +0.06 |
| HBAN Huntington Bancshares Inc. | Add +3.2% | 0.75% | +0.05 |
| CAT Caterpillar Inc. | Add +0.1% | 0.56% | +0.05 |
| CMF iShares California Muni Bond | Add +24.9% | 0.29% | +0.05 |
| SCHA Schwab US Small-Cap ETF | Add +3.9% | 0.92% | +0.05 |
| BNY Bank of New York Mellon Corp. | Add +0.3% | 0.39% | +0.04 |
| IEFA iShares Core MSCI Eafe ETF | Add +1.0% | 2.87% | +0.04 |
| BSX Boston Scientific Corp. | Add +14.3% | 0.28% | +0.04 |
| MHO M/I Homes Inc. | Add +0.5% | 0.15% | +0.04 |
| GS Goldman Sachs Group Inc. | Add +0.0% | 1.39% | +0.03 |
| MDLZ Mondelez International Inc. Class A | Add +0.6% | 0.54% | +0.03 |
| ORCL Oracle Corp. | Add +0.0% | 0.24% | +0.03 |
| MET Metlife Inc. | Add +0.6% | 0.28% | +0.03 |
| HCA HCA Healthcare Inc. | Add +3.0% | 0.14% | +0.02 |
| SYK Stryker Corp. | Add +2.9% | 0.76% | +0.02 |
| ABT Abbott Laboratories | Add +0.7% | 0.42% | +0.01 |
| IGIB iShares 5-10Y Inv Grade Corp. | Add +2.5% | 2.94% | +0.01 |
| SCHE Schwab Emrg Mrkts Eqty ETF | Add +0.3% | 0.31% | +0.01 |
| IGSB iShares 1-5Y Inv Grade Corp. | Add +4.5% | 2.11% | +0.01 |
| AIG American International Group | Add +14.1% | 0.17% | +0.01 |
| XLB SS Materials Select Sector | Add +0.1% | 0.36% | +0.01 |
| WMB Williams Cos Inc. | Add +0.8% | 0.43% | +0.01 |
| MRVL Marvell Technology Inc. | Add +5.8% | 0.15% | +0.00 |
| NVDA Nvidia Corp. | Add +9.2% | 0.41% | +0.00 |
| IJH iShares Core S&P Midcap ETF | Add +0.8% | 0.13% | +0.00 |
| SCHM Schwab US Mid Cap ETF | Add +0.0% | 0.30% | −0.00 |
| MNST Monster Beverage Corp. | Add +0.7% | 0.15% | −0.00 |
| SCHX Schwab US Large-Cap ETF | Add +0.8% | 0.77% | −0.00 |
| SCHG Schwab US Large-Cap Growth | Add +0.2% | 0.15% | −0.00 |
| V Visa Inc. Class A | Add +1.5% | 0.91% | −0.01 |
| SPYG SS SPDR P S&P 500 Growth ETF | Add +2.7% | 1.48% | −0.01 |
| LLY Eli Lilly & Co. | Add +6.6% | 0.49% | −0.01 |
| GOOG Alphabet Inc. Class C | Add +11.0% | 0.28% | −0.02 |
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 |