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

0$100.0M$200.0M$300.0M$400.0M Q1 2024: $196.9M Q1 2024 Q2 2024: $200.4M Q2 2024 Q3 2024: $214.4M $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 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%
IRM Iron Mountain Inc. filed as IRON MTN INC DEL 0.22% 4,035 $479K Add +23.8%
PWR Quanta Services Inc. 0.22% 1,594 $475K Add +27.1%
INTC Intel Corp. 0.22% 20,169 $473K Reduce -1.7%
OEF iShares S&P 100 ETF 0.22% 1,700 $470K No change
MAR Marriott International Class A 0.21% 1,778 $442K Reduce -2.2%
SCHD Schwab US DVD Equity ETF 0.20% 5,100 $431K Reduce -4.5%
MPC Marathon Petroleum Corp. 0.20% 2,621 $427K Reduce -2.1%
BMY Bristol-Myers Squibb Co. 0.20% 8,214 $425K Reduce -1.8%
GE General Electric filed as GE AEROSPACE 0.19% 2,180 $411K No change
XLY SS Consumer Disc Select Sect 0.19% 2,020 $405K New
WDAY Workday Inc. Class A 0.19% 1,650 $403K No change
DE Deere & Co. 0.19% 960 $401K No change
VIG Vanguard Dividend Apprec ETF 0.18% 1,939 $384K No change
MDT Medtronic PLC 0.18% 4,214 $379K Reduce -4.5%
AIG American International Group 0.17% 4,952 $363K Add +14.1%
TRV The Travelers Cos Inc. 0.17% 1,522 $356K No change
ONTO Onto Innovation Inc. 0.16% 1,692 $351K Reduce -61.5%
XLE SS Energy Select Sector 0.16% 3,994 $351K Reduce -2.4%
PHM Pultegroup Inc. 0.16% 2,435 $350K New
COST Costco Wholesale Corp. 0.16% 393 $348K No change
UNH Unitedhealth Group Inc. 0.15% 568 $332K Reduce -13.7%
MRVL Marvell Technology Inc. 0.15% 4,562 $329K Add +5.8%
XLV SS Health Care Select Sector 0.15% 2,138 $329K Reduce -9.9%
XLF SS Financial Select Sector 0.15% 7,233 $328K Reduce -1.4%
MHO M/I Homes Inc. 0.15% 1,880 $322K Add +0.5%
MNST Monster Beverage Corp. 0.15% 6,152 $321K Add +0.7%
SCHG Schwab US Large-Cap Growth 0.15% 2,993 $312K Add +0.2%
XLP SS Consumer Staples Sel Sect 0.14% 3,706 $308K New
MCD McDonald's Corp. 0.14% 982 $299K Reduce -7.9%
HCA HCA Healthcare Inc. 0.14% 724 $294K Add +3.0%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.13% 2,984 $287K Reduce -7.3%
SHW The Sherwin-Williams Co. 0.13% 750 $286K No change
IJH iShares Core S&P Midcap ETF 0.13% 4,465 $278K Add +0.8%
DTE DTE Energy Company 0.13% 2,088 $268K No change
VYM Vanguard High DVD Yield ETF 0.12% 2,075 $266K No change
IHDG Wisdomtree International Hed 0.12% 5,650 $258K No change
IWF iShares Russell 1000 Growth 0.12% 680 $255K No change
MSI Motorola Solutions Inc. 0.12% 565 $254K Reduce -5.8%
PAYX Paychex Inc. 0.12% 1,860 $250K Reduce -11.6%
BLD Topbuild Corp. 0.11% 605 $246K New
SCHV Schwab US Large-Cap Value 0.11% 3,035 $244K Reduce -4.6%
RTX RTX Corp. 0.11% 2,000 $242K No change
IWR iShares Russell Mid-Cap ETF 0.11% 2,700 $238K No change
DOCU Docusign Inc. 0.11% 3,735 $232K Reduce -0.4%
GLW Corning Inc. 0.10% 4,890 $221K Reduce -4.9%
CIBR First Trust Nasdaq Cybersecu 0.10% 3,737 $221K Reduce -45.8%
QQQX Nuveen Nasdaq 100 DYN Overwr 0.10% 8,150 $205K No change

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

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