# EDGAR Filing Document

**Accession Number:** 0001541596
**File Stem:** 0001541596-23-000001
**Filing Date:** 2023-2
**Character Count:** 15661
**Document Hash:** 8b5ecd539c0b8117f1ffae89311170d7
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001541596-23-000001.hdr.sgml**: 20230206

**ACCESSION NUMBER**: 0001541596-23-000001

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230206

**DATE AS OF CHANGE**: 20230206

**EFFECTIVENESS DATE**: 20230206

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Aspen Investment Management Inc
- **CENTRAL INDEX KEY:** 0001541596
- **IRS NUMBER:** 383114625
- **STATE OF INCORPORATION:** MI
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-14711
- **FILM NUMBER:** 23590934

**BUSINESS ADDRESS:**
- **STREET 1:** 4020 E BELTLINE NE SUITE 103
- **CITY:** GRAND RAPIDS
- **STATE:** MI
- **ZIP:** 49525
- **BUSINESS PHONE:** 616-361-2500

**MAIL ADDRESS:**
- **STREET 1:** 4020 E BELTLINE NE SUITE 103
- **CITY:** GRAND RAPIDS
- **STATE:** MI
- **ZIP:** 49525

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 12-31-2022

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** Aspen Investment Management Inc<br>**Address:** 4020 E BELTLINE NE SUITE 103<br>GRAND RAPIDS, MI 49525

**Form 13F File Number:** 028-14711

**CRD Number (if applicable):** 000112081

**SEC File Number (if applicable):** 801-58191

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** William Alphenaar<br>**Title:** CCO<br>**Phone:** 6163252760

**Signature, Place, and Date of Signing:**

David R Millar  Grand Rapids, MI  02-06-2023<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 125

**Form 13F Information Table Value Total:** $152952

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 |  | 8615 | 22525 | SH |  | SOLE |  | 105 | 0 | 22420 |
| INVESCO EXCH TRD SLF IDX FD | BULSHS 2023 CB | 46138J866 |  | 7989 | 380795 | SH |  | SOLE |  | 5760 | 0 | 375035 |
| INVESCO EXCH TRD SLF IDX FD | BULSHS 2024 CB | 46138J841 |  | 6467 | 315685 | SH |  | SOLE |  | 3807 | 0 | 311878 |
| FIRST TR EXCHANGE-TRADED FD | SENIOR LN FD | 33738D309 |  | 4581 | 102732 | SH |  | SOLE |  | 1142 | 0 | 101590 |
| ISHARES TR | RUSSELL 2000 ETF | 464287655 |  | 4396 | 25212 | SH |  | SOLE |  | 0 | 0 | 25212 |
| MICROSOFT CORP | COM | 594918104 |  | 4390 | 18307 | SH |  | SOLE |  | 0 | 0 | 18307 |
| FIRST TR EXCH TRADED FD III | PFD SECS INC ETF | 33739E108 |  | 3706 | 220616 | SH |  | SOLE |  | 340 | 0 | 220276 |
| INVESCO EXCHANGE TRADED FD T | S EQL WGT | 46137V357 |  | 3630 | 25697 | SH |  | SOLE |  | 166 | 0 | 25531 |
| ISHARES TR | CORE MSCI EAFE | 46432F842 |  | 2991 | 48516 | SH |  | SOLE |  | 81 | 0 | 48435 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 2922 | 16540 | SH |  | SOLE |  | 12 | 0 | 16528 |
| ISHARES TR | ISHS 1-5YR INVS | 464288646 |  | 2761 | 55417 | SH |  | SOLE |  | 0 | 0 | 55417 |
| ISHARES TR | SELECT DIVID ETF | 464287168 |  | 2564 | 21259 | SH |  | SOLE |  | 431 | 0 | 20828 |
| INVESCO EXCH TRD SLF IDX FD | BULSHS 2025 CB | 46138J825 |  | 2467 | 122485 | SH |  | SOLE |  | 2269 | 0 | 120216 |
| JPMORGAN CHASE  CO | COM | 46625H100 |  | 2350 | 17523 | SH |  | SOLE |  | 30 | 0 | 17493 |
| PEPSICO INC | COM | 713448108 |  | 2329 | 12888 | SH |  | SOLE |  | 0 | 0 | 12888 |
| SPDR SER TR | PRTFLO S HI | 78468R788 |  | 2299 | 58078 | SH |  | SOLE |  | 1562 | 0 | 56516 |
| ISHARES TR | CORE S ETF | 464287200 |  | 2187 | 5692 | SH |  | SOLE |  | 0 | 0 | 5692 |
| PIMCO ETF TR | 0-5 HIGH YIELD | 72201R783 |  | 2151 | 24096 | SH |  | SOLE |  | 0 | 0 | 24096 |
| APPLE INC | COM | 037833100 |  | 2076 | 15981 | SH |  | SOLE |  | 0 | 0 | 15981 |
| CSX CORP | COM | 126408103 |  | 2037 | 65764 | SH |  | SOLE |  | 0 | 0 | 65764 |
| HOME DEPOT INC | COM | 437076102 |  | 2029 | 6425 | SH |  | SOLE |  | 0 | 0 | 6425 |
| GOLDMAN SACHS GROUP INC | COM | 38141G104 |  | 2005 | 5838 | SH |  | SOLE |  | 0 | 0 | 5838 |
| VANGUARD INDEX FDS | REAL ESTATE ETF | 922908553 |  | 1991 | 24141 | SH |  | SOLE |  | 128 | 0 | 24013 |
| WALMART INC | COM | 931142103 |  | 1972 | 13910 | SH |  | SOLE |  | 0 | 0 | 13910 |
| WISDOMTREE TR | US SMALLCAP DIVD | 97717W604 |  | 1896 | 66666 | SH |  | SOLE |  | 467 | 0 | 66199 |
| CHEVRON CORP NEW | COM | 166764100 |  | 1867 | 10402 | SH |  | SOLE |  | 0 | 0 | 10402 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 1603 | 14534 | SH |  | SOLE |  | 60 | 0 | 14474 |
| AMGEN INC | COM | 031162100 |  | 1552 | 5909 | SH |  | SOLE |  | 0 | 0 | 5909 |
| ILLINOIS TOOL WKS INC | COM | 452308109 |  | 1344 | 6098 | SH |  | SOLE |  | 0 | 0 | 6098 |
| SCHWAB STRATEGIC TR | US SML CAP ETF | 808524607 |  | 1343 | 33149 | SH |  | SOLE |  | 0 | 0 | 33149 |
| WASTE MGMT INC DEL | COM | 94106L109 |  | 1340 | 8541 | SH |  | SOLE |  | 0 | 0 | 8541 |
| VISA INC | COM CL A | 92826C839 |  | 1335 | 6426 | SH |  | SOLE |  | 0 | 0 | 6426 |
| BRISTOL-MYERS SQUIBB CO | COM | 110122108 |  | 1330 | 18485 | SH |  | SOLE |  | 210 | 0 | 18275 |
| NEXTERA ENERGY INC | COM | 65339F101 |  | 1304 | 15595 | SH |  | SOLE |  | 0 | 0 | 15595 |
| SCHWAB STRATEGIC TR | INTL EQTY ETF | 808524805 |  | 1302 | 40411 | SH |  | SOLE |  | 0 | 0 | 40411 |
| VANGUARD INDEX FDS | MID CAP ETF | 922908629 |  | 1266 | 6214 | SH |  | SOLE |  | 0 | 0 | 6214 |
| LOCKHEED MARTIN CORP | COM | 539830109 |  | 1241 | 2550 | SH |  | SOLE |  | 5 | 0 | 2545 |
| AUTOMATIC DATA PROCESSING IN | COM | 053015103 |  | 1234 | 5168 | SH |  | SOLE |  | 0 | 0 | 5168 |
| ABRDN ETFS | BBRG ALL COMD K1 | 003261104 |  | 1225 | 55514 | SH |  | SOLE |  | 50 | 0 | 55464 |
| BANK AMERICA CORP | COM | 060505104 |  | 1167 | 35241 | SH |  | SOLE |  | 0 | 0 | 35241 |
| INTERCONTINENTAL EXCHANGE IN | COM | 45866F104 |  | 1137 | 11087 | SH |  | SOLE |  | 0 | 0 | 11087 |
| PERKINELMER INC | COM | 714046109 |  | 1133 | 8083 | SH |  | SOLE |  | 0 | 0 | 8083 |
| COCA COLA CO | COM | 191216100 |  | 1110 | 17452 | SH |  | SOLE |  | 140 | 0 | 17312 |
| COSTCO WHSL CORP NEW | COM | 22160K105 |  | 1102 | 2415 | SH |  | SOLE |  | 32 | 0 | 2383 |
| ABBOTT LABS | COM | 002824100 |  | 1053 | 9592 | SH |  | SOLE |  | 100 | 0 | 9492 |
| PROCTER AND GAMBLE CO | COM | 742718109 |  | 1051 | 6935 | SH |  | SOLE |  | 0 | 0 | 6935 |
| JOHNSON CTLS INTL PLC | SHS | G51502105 |  | 1047 | 16355 | SH |  | SOLE |  | 0 | 0 | 16355 |
| PFIZER INC | COM | 717081103 |  | 1039 | 20278 | SH |  | SOLE |  | 0 | 0 | 20278 |
| FAIR ISAAC CORP | COM | 303250104 |  | 1039 | 1735 | SH |  | SOLE |  | 0 | 0 | 1735 |
| PAYPAL HLDGS INC | COM | 70450Y103 |  | 992 | 13930 | SH |  | SOLE |  | 0 | 0 | 13930 |
| MONDELEZ INTL INC | CL A | 609207105 |  | 989 | 14830 | SH |  | SOLE |  | 0 | 0 | 14830 |
| STRYKER CORPORATION | COM | 863667101 |  | 971 | 3972 | SH |  | SOLE |  | 50 | 0 | 3922 |
| J P MORGAN EXCHANGE TRADED F | ULTRA SHRT INC | 46641Q837 |  | 919 | 18329 | SH |  | SOLE |  | 0 | 0 | 18329 |
| CISCO SYS INC | COM | 17275R102 |  | 903 | 18965 | SH |  | SOLE |  | 0 | 0 | 18965 |
| SCHWAB STRATEGIC TR | US LRG CAP ETF | 808524201 |  | 889 | 19695 | SH |  | SOLE |  | 0 | 0 | 19695 |
| CATERPILLAR INC | COM | 149123101 |  | 881 | 3677 | SH |  | SOLE |  | 0 | 0 | 3677 |
| HUNTINGTON BANCSHARES INC | COM | 446150104 |  | 875 | 62071 | SH |  | SOLE |  | 1092 | 0 | 60979 |
| SELECT SECTOR SPDR TR | SBI HEALTHCARE | 81369Y209 |  | 866 | 6371 | SH |  | SOLE |  | 0 | 0 | 6371 |
| TRANE TECHNOLOGIES PLC | SHS | G8994E103 |  | 860 | 5114 | SH |  | SOLE |  | 0 | 0 | 5114 |
| SCHWAB CHARLES CORP | COM | 808513105 |  | 833 | 10008 | SH |  | SOLE |  | 0 | 0 | 10008 |
| THERMO FISHER SCIENTIFIC INC | COM | 883556102 |  | 826 | 1500 | SH |  | SOLE |  | 0 | 0 | 1500 |
| VANGUARD INTL EQUITY INDEX F | FTSE EMR MKT ETF | 922042858 |  | 824 | 21131 | SH |  | SOLE |  | 0 | 0 | 21131 |
| SELECT SECTOR SPDR TR | SBI INT-UTILS | 81369Y886 |  | 815 | 11567 | SH |  | SOLE |  | 265 | 0 | 11302 |
| AMAZON COM INC | COM | 023135106 |  | 815 | 9699 | SH |  | SOLE |  | 100 | 0 | 9599 |
| ISHARES TR | MSCI EAFE ETF | 464287465 |  | 812 | 12378 | SH |  | SOLE |  | 0 | 0 | 12378 |
| EDWARDS LIFESCIENCES CORP | COM | 28176E108 |  | 812 | 10878 | SH |  | SOLE |  | 0 | 0 | 10878 |
| ABBVIE INC | COM | 00287Y109 |  | 809 | 5005 | SH |  | SOLE |  | 100 | 0 | 4905 |
| LEGG MASON ETF INVT | ROYCE QUANT SML | 52468L877 |  | 728 | 21175 | SH |  | SOLE |  | 348 | 0 | 20827 |
| ISHARES INC | CORE MSCI EMKT | 46434G103 |  | 711 | 15219 | SH |  | SOLE |  | 0 | 0 | 15219 |
| UNITEDHEALTH GROUP INC | COM | 91324P102 |  | 667 | 1259 | SH |  | SOLE |  | 2 | 0 | 1257 |
| SCHWAB STRATEGIC TR | INTL SCEQT ETF | 808524888 |  | 658 | 20917 | SH |  | SOLE |  | 0 | 0 | 20917 |
| SELECT SECTOR SPDR TR | SBI INT-INDS | 81369Y704 |  | 626 | 6374 | SH |  | SOLE |  | 82 | 0 | 6292 |
| VERIZON COMMUNICATIONS INC | COM | 92343V104 |  | 625 | 15868 | SH |  | SOLE |  | 300 | 0 | 15568 |
| KELLOGG CO | COM | 487836108 |  | 618 | 8671 | SH |  | SOLE |  | 190 | 0 | 8481 |
| TEXAS INSTRS INC | COM | 882508104 |  | 613 | 3711 | SH |  | SOLE |  | 0 | 0 | 3711 |
| SCHWAB STRATEGIC TR | EMRG MKTEQ ETF | 808524706 |  | 612 | 25863 | SH |  | SOLE |  | 0 | 0 | 25863 |
| ETHAN ALLEN INTERIORS INC | COM | 297602104 |  | 584 | 22100 | SH |  | SOLE |  | 0 | 0 | 22100 |
| CONOCOPHILLIPS | COM | 20825C104 |  | 576 | 4877 | SH |  | SOLE |  | 0 | 0 | 4877 |
| INTEL CORP | COM | 458140100 |  | 574 | 21736 | SH |  | SOLE |  | 0 | 0 | 21736 |
| CVS HEALTH CORP | COM | 126650100 |  | 562 | 6035 | SH |  | SOLE |  | 128 | 0 | 5907 |
| SPDR SER TR | BLOOMBERG INVT | 78468R200 |  | 552 | 18158 | SH |  | SOLE |  | 100 | 0 | 18058 |
| DUKE ENERGY CORP NEW | COM NEW | 26441C204 |  | 551 | 5354 | SH |  | SOLE |  | 0 | 0 | 5354 |
| MERCK  CO INC | COM | 58933Y105 |  | 528 | 4762 | SH |  | SOLE |  | 0 | 0 | 4762 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 513 | 5817 | SH |  | SOLE |  | 0 | 0 | 5817 |
| WILLIAMS COS INC | COM | 969457100 |  | 505 | 15364 | SH |  | SOLE |  | 0 | 0 | 15364 |
| SPDR SER TR | S BIOTECH | 78464A870 |  | 505 | 6085 | SH |  | SOLE |  | 114 | 0 | 5971 |
| ISHARES TR | RUS 1000 ETF | 464287622 |  | 503 | 2387 | SH |  | SOLE |  | 0 | 0 | 2387 |
| SCHWAB STRATEGIC TR | US MID-CAP ETF | 808524508 |  | 498 | 7592 | SH |  | SOLE |  | 0 | 0 | 7592 |
| CONAGRA BRANDS INC | COM | 205887102 |  | 494 | 12755 | SH |  | SOLE |  | 45 | 0 | 12710 |
| INTERNATIONAL BUSINESS MACHS | COM | 459200101 |  | 478 | 3393 | SH |  | SOLE |  | 0 | 0 | 3393 |
| FIRST TR EXCHANGE-TRADED FD | NO AMER ENERGY | 33738D101 |  | 474 | 17770 | SH |  | SOLE |  | 0 | 0 | 17770 |
| MEDTRONIC PLC | SHS | G5960L103 |  | 471 | 6061 | SH |  | SOLE |  | 0 | 0 | 6061 |
| AMERICAN EXPRESS CO | COM | 025816109 |  | 467 | 3158 | SH |  | SOLE |  | 0 | 0 | 3158 |
| SELECT SECTOR SPDR TR | ENERGY | 81369Y506 |  | 447 | 5110 | SH |  | SOLE |  | 100 | 0 | 5010 |
| DEERE  CO | COM | 244199105 |  | 444 | 1035 | SH |  | SOLE |  | 0 | 0 | 1035 |
| WELLS FARGO CO NEW | COM | 949746101 |  | 416 | 10080 | SH |  | SOLE |  | 0 | 0 | 10080 |
| DOLLAR TREE INC | COM | 256746108 |  | 410 | 2898 | SH |  | SOLE |  | 10 | 0 | 2888 |
| WISDOMTREE TR | US MIDCAP DIVID | 97717W505 |  | 404 | 9810 | SH |  | SOLE |  | 100 | 0 | 9710 |
| DISNEY WALT CO | COM | 254687106 |  | 399 | 4598 | SH |  | SOLE |  | 0 | 0 | 4598 |
| SELECT SECTOR SPDR TR | FINANCIAL | 81369Y605 |  | 395 | 11554 | SH |  | SOLE |  | 100 | 0 | 11454 |
| SELECT SECTOR SPDR TR | TECHNOLOGY | 81369Y803 |  | 395 | 3175 | SH |  | SOLE |  | 0 | 0 | 3175 |
| GENERAL MLS INC | COM | 370334104 |  | 395 | 4708 | SH |  | SOLE |  | 0 | 0 | 4708 |
| ISHARES TR | ISHS 5-10YR INVT | 464288638 |  | 374 | 7556 | SH |  | SOLE |  | 0 | 0 | 7556 |
| VANGUARD SPECIALIZED FUNDS | DIV APP ETF | 921908844 |  | 335 | 2209 | SH |  | SOLE |  | 0 | 0 | 2209 |
| MONSTER BEVERAGE CORP NEW | COM | 61174X109 |  | 316 | 3109 | SH |  | SOLE |  | 73 | 0 | 3036 |
| EATON CORP PLC | SHS | G29183103 |  | 315 | 2007 | SH |  | SOLE |  | 0 | 0 | 2007 |
| ORACLE CORP | COM | 68389X105 |  | 301 | 3677 | SH |  | SOLE |  | 0 | 0 | 3677 |
| ISHARES TR | S 100 ETF | 464287101 |  | 290 | 1700 | SH |  | SOLE |  | 0 | 0 | 1700 |
| TRAVELERS COMPANIES INC | COM | 89417E109 |  | 285 | 1522 | SH |  | SOLE |  | 0 | 0 | 1522 |
| PAYCHEX INC | COM | 704326107 |  | 276 | 2385 | SH |  | SOLE |  | 0 | 0 | 2385 |
| LILLY ELI  CO | COM | 532457108 |  | 253 | 692 | SH |  | SOLE |  | 8 | 0 | 684 |
| ARCHER DANIELS MIDLAND CO | COM | 039483102 |  | 252 | 2718 | SH |  | SOLE |  | 4 | 0 | 2714 |
| DTE ENERGY CO | COM | 233331107 |  | 245 | 2088 | SH |  | SOLE |  | 0 | 0 | 2088 |
| SCHWAB STRATEGIC TR | US DIVIDEND EQ | 808524797 |  | 244 | 3225 | SH |  | SOLE |  | 0 | 0 | 3225 |
| ALPHABET INC | CAP STK CL C | 02079K107 |  | 239 | 2690 | SH |  | SOLE |  | 60 | 0 | 2630 |
| ISHARES U S ETF TR | BLACKROCK ST MAT | 46431W507 |  | 236 | 4800 | SH |  | SOLE |  | 0 | 0 | 4800 |
| WISDOMTREE TR | ITL HDG QTLY DIV | 97717X594 |  | 233 | 6550 | SH |  | SOLE |  | 0 | 0 | 6550 |
| ELEVANCE HEALTH INC | COM | 036752103 |  | 229 | 446 | SH |  | SOLE |  | 13 | 0 | 433 |
| APPLIED MATLS INC | COM | 038222105 |  | 220 | 2262 | SH |  | SOLE |  | 17 | 0 | 2245 |
| MARATHON PETE CORP | COM | 56585A102 |  | 215 | 1845 | SH |  | SOLE |  | 0 | 0 | 1845 |
| FIRST TR EXCHANGE-TRADED FD | DORSEY WRT 5 ETF | 33738R605 |  | 214 | 4600 | SH |  | SOLE |  | 0 | 0 | 4600 |
| META PLATFORMS INC | CL A | 30303M102 |  | 214 | 1775 | SH |  | SOLE |  | 0 | 0 | 1775 |
| SPDR S MIDCAP 400 ETF TR | UTSER1 S | 78467Y107 |  | 205 | 463 | SH |  | SOLE |  | 0 | 0 | 463 |
| ISHARES TR | RUS MID CAP ETF | 464287499 |  | 203 | 3015 | SH |  | SOLE |  | 0 | 0 | 3015 |
| RAYTHEON TECHNOLOGIES CORP | COM | 75513E101 |  | 202 | 2000 | SH |  | SOLE |  | 0 | 0 | 2000 |

---