Aspen Capital Management, LLC

Registered adviser

CIK

2065974

Location

BOISE, ID

Portfolio Value

Small $452,976,332

Diversification

Highly concentrated

Filing Date

Global Rank

#4,091 / 8,818 ▼ 53

Top Industry

Banks - Regional 27.2%

3Y Alpha vs SPY

-5.8%

Period ended 4 months ago

Filed Aug 4, 2026 · 3mo

6 quarters · since Mar 2025

Regulatory profile

From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.

Holder type

Registered adviser

Form ADV roster, Oct 1, 2026

Form ADV adviser

CRD 119050

Roster of Oct 1, 2026

Regulatory AUM

$1,338,285,275

Main clients

Individuals and high net worth (91% of AUM)

Form ADV history

Monthly rosters from Dec 2019; each row is a run with the same figures, newest first.

Rosters	Regulatory AUM	Main clients
Mar 2026 to Oct 2026	$1,338,285,275	Individuals and high net worth (91%)
Mar 2025 to Feb 2026	$1,130,631,429	Individuals and high net worth (92%)
Apr 2024 to Feb 2025	$1,010,000,000	Individuals and high net worth (94%)
May 2023 to Mar 2024	$850,370,000	Individuals and high net worth (93%)
Apr 2023	$850,370,000	Individuals and high net worth (93%)
Apr 2022 to Mar 2023	$836,060,000	Individuals and high net worth (93%)

3 earlier changes not shown.

Portfolio style

Measured from the filed 13F common-share book for Jun 30, 2026, never from the firm's own description.

Style

Concentrated

The top 10 positions are 94.4% of the book (60%+)

Turnover

Low turnover

10.9% over the last four quarters (under 30%)

Horizon

Medium horizon

Value-weighted holding period 5.7 quarters (4 to under 12)

Closest benchmark: every 13F filer's combined book, active share 86.1%; sector active share 76.6% against the combined 13F book's sector weights.

Over time 6 measured quarters

How the bands are measured

Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.

Clone Performance

Build a hypothetical price-return history from this filer's public 13F holdings.

View clone backtest

Portfolio Concentration

83 tracked positions · as of Jun 30, 2026 · Δ vs Mar 31, 2026

Top Position

73.7%

+3.8 pts

Top 5

89.9%

−1.9 pts

Top 10

94.4%

−1.3 pts

HHI

5,558

Highly concentrated+392

Portfolio Trend

6 quarters · across all stocks

Sector Breakdown

As of Jun 30, 2026

Sector	% Portfolio	Value	Positions
Unclassified	89.5%	$405,291,268	51
Technology	5.1%	$23,179,756	11
Financial Services	3.5%	$15,914,409	5
Consumer Cyclical	0.7%	$2,991,202	5
Communication Services	0.6%	$2,512,209	3
Healthcare	0.4%	$1,788,683	5
Industrials	0.2%	$914,327	2
Consumer Defensive	0.1%	$384,478	1

Last Quarter's Activity

Export CSV

Jun 30, 2026 vs Mar 31, 2026

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
DUSB	Dimensional Ultrashort Fixed Income ETF	+303,750	351,153	$17,831,549
DFIC	Dimensional International Core Equity 2 ETF	+104,927	2,380,785	$88,708,049
DFAC	Dimensional U.S. Core Equity 2 ETF	+84,299	1,577,217	$69,965,346
DFEM	Dimensional Emerging Markets Core Equity 2 ETF	+23,336	557,707	$22,665,212
DFSV	Dimensional US Small Cap Value ETF	+15,405	295,557	$11,464,656
DCOR	Dimensional ETF Trust	+10,286	128,126	$10,503,769
DFGR	Dimensional Global Real Estate ETF	+7,303	553,939	$16,047,612
SCHB	Schwab U.S. Broad Market ETF	+6,524	15,463	$447,808
DFAW	Dimensional World Equity ETF	+4,599	30,649	$2,537,430
DFCF	Dimensional Core Fixed Income ETF	+1,524	824,636	$34,807,885
SCHF	Schwab International Equity ETF	+1,194	13,039	$361,180
DFSI	Dimensional International Sustainability Core 1 ETF	+973	92,563	$4,174,591
DFAX	Dimensional World ex. U.S. Core Equity 2 ETF	+869	201,329	$7,416,960
TSLA	Tesla, Inc.	+787	1,516	$637,629
CGGO	Capital Group Global Growth Equity ETF	+532	10,506	$444,718
DFSB	Dimensional Global Sustainability Fixed Income ETF	+516	8,455	$440,590
NVDA	Nvidia Corp	+512	27,591	$5,520,683
DIA	Spdr Dow Jones Industrial Average ETF Trust	+200	3,050	$1,593,289
AAPL	Apple Inc.	+159	22,182	$6,418,583
SPY	Spdr S&P 500 ETF Trust	+152	2,472	$1,846,015
MSFT	Microsoft Corp	+120	7,846	$2,926,714
BRK-B	Berkshire Hathaway Inc	+120	1,198	$599,467
QQQ	Invesco Qqq Trust, Series 1	+114	5,490	$4,042,836
AGG	iShares Core U.S. Aggregate Bond ETF	+104	2,364	$233,988
FDN	First Trust Dow Jones Internet Index Fund	+100	1,305	$345,459
No positions match the current search.

Trimmed

Positions the filer reduced

12 positions

Ticker	Company	Δ Shares	Shares	Value
SGOV	iShares 0-3 Month Treasury Bond ETF	−192,020	341,534	$34,382,227
DFAT	Dimensional U.S. Targeted Value ETF	−2,948	274,326	$19,175,387
DFSU	Dimensional US Sustainability Core 1 ETF	−2,741	111,535	$5,200,877
DFAS	Dimensional U.S. Small Cap ETF	−2,078	214,183	$17,635,828
HPE	Hewlett Packard Enterprise Co	−870	11,819	$533,155
DFSE	Dimensional Emerging Markets Sustainability Core 1 ETF	−614	19,473	$951,840
MU	Micron Technology Inc	−473	720	$831,088
FNX	First Trust Mid Cap Core AlphaDEX Fund	−436	1,648	$241,184
USB	US Bancorp De	−314	214,834	$12,975,973
AVDE	Avantis International Equity ETF	−225	37,046	$3,304,503
IWM	iShares Russell 2000 ETF	−204	7,479	$2,247,065
IWB	iShares Russell 1000 ETF	−99	14,706	$6,022,107
No positions match the current search.

New Positions

Positions the filer opened this quarter

9 positions

Ticker	Company	Shares	Value
TXN	Texas Instruments Inc	13,625	$4,061,203
AMAT	Applied Materials Inc	544	$393,312
FXL	First Trust Technology AlphaDEX Fund	1,127	$244,806
DFCA	Dimensional California Municipal Bond ETF	4,529	$227,265
VONG	VANGUARD RUSSELL 1000 GROWTH INDEX FUND	1,701	$217,404
CGGR	Capital Group Growth ETF	4,578	$216,081
HD	Home Depot, Inc.	608	$214,429
SBUX	Starbucks Corp	2,011	$205,504
AXP	American Express Co	595	$201,258
No positions match the current search.

Sold Out

Positions the filer fully exited

3 positions

Ticker	Company	Shares	Value
HPQ	Hp Inc	16,899	$324,629
LRN	Stride, Inc.	2,461	$216,986
AVGE	Avantis All Equity Markets ETF	2,336	$205,614
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

83 tracked positions · $452,976,332 total · filing declares 83 positions · $452,975,875 · as of Jun 30, 2026

All sectors Communication Services Consumer Cyclical Consumer Defensive Financial Services Healthcare Industrials Technology

Showing 1–50 of 83 positions by value · page 1 of 2

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	Held (qtrs)	Est. cost/share	% of Portfolio
DFIC	Dimensional International Core Equity 2 ETF	Added	2,380,785	+104,927	$88,708,049	+9.7%	6	before history	19.58%
DFAC	Dimensional U.S. Core Equity 2 ETF	Added	1,577,217	+84,299	$69,965,346	+20.6%	6	before history	15.45%
DFCF	Dimensional Core Fixed Income ETF	Added	824,636	+1,524	$34,807,885	+0.2%	6	before history	7.68%
SGOV	iShares 0-3 Month Treasury Bond ETF	Reduced	341,534	-192,020	$34,382,227	−36.0%	6	before history	7.59%
DFEM	Dimensional Emerging Markets Core Equity 2 ETF	Added	557,707	+23,336	$22,665,212	+22.8%	6	before history	5.00%
DFAT	Dimensional U.S. Targeted Value ETF	Reduced	274,326	-2,948	$19,175,387	+10.7%	6	before history	4.23%
DUSB	Dimensional Ultrashort Fixed Income ETF	Added	351,153	+303,750	$17,831,549	+641.8%	2	$50.78	3.94%
DFAS	Dimensional U.S. Small Cap ETF	Reduced	214,183	-2,078	$17,635,828	+14.6%	6	before history	3.89%
DFGR	Dimensional Global Real Estate ETF	Added	553,939	+7,303	$16,047,612	+10.4%	6	before history	3.54%
USB	US Bancorp De Financial Services	Reduced	214,834	-314	$12,975,973	+16.0%	6	before history	2.86%
DFSV	Dimensional US Small Cap Value ETF	Added	295,557	+15,405	$11,464,656	+16.8%	6	before history	2.53%
DCOR	Dimensional ETF Trust	Added	128,126	+10,286	$10,503,769	+23.7%	6	before history	2.32%
DFAX	Dimensional World ex. U.S. Core Equity 2 ETF	Added	201,329	+869	$7,416,960	+8.9%	6	before history	1.64%
AAPL	Apple Inc. Technology	Added	22,182	+159	$6,418,583	+14.8%	6	before history	1.42%
IWB	iShares Russell 1000 ETF	Reduced	14,706	-99	$6,022,107	+14.1%	6	before history	1.33%
NVDA	Nvidia Corp Technology	Added	27,591	+512	$5,520,683	+16.9%	6	before history	1.22%
DFSU	Dimensional US Sustainability Core 1 ETF	Reduced	111,535	-2,741	$5,200,877	+10.8%	6	before history	1.15%
DFSI	Dimensional International Sustainability Core 1 ETF	Added	92,563	+973	$4,174,591	+7.5%	6	before history	0.92%
DFUV	Dimensional U.S. Marketwide Value ETF	Added	73,845	+87	$4,062,213	+13.7%	6	before history	0.90%
TXN	Texas Instruments Inc Technology	NEW	13,625	NEW	$4,061,203	NEW	1	$277.43	0.90%
QQQ	Invesco Qqq Trust, Series 1	Added	5,490	+114	$4,042,836	+30.3%	6	before history	0.89%
AVDE	Avantis International Equity ETF	Reduced	37,046	-225	$3,304,503	+4.5%	6	before history	0.73%
MSFT	Microsoft Corp Technology	Added	7,846	+120	$2,926,714	+2.3%	6	before history	0.65%
IVV	iShares Core S&P 500 ETF	Held	3,514	0	$2,631,599	+14.6%	6	before history	0.58%
DFAW	Dimensional World Equity ETF	Added	30,649	+4,599	$2,537,430	+32.0%	6	before history	0.56%
IWM	iShares Russell 2000 ETF	Reduced	7,479	-204	$2,247,065	+17.9%	6	before history	0.50%
AVUS	Avantis U.S. Equity ETF	Held	14,662	0	$1,877,908	+15.2%	5	$93.63	0.41%
SPY	Spdr S&P 500 ETF Trust	Added	2,472	+152	$1,846,015	+22.4%	6	before history	0.41%
DIA	Spdr Dow Jones Industrial Average ETF Trust	Added	3,050	+200	$1,593,289	+20.7%	6	before history	0.35%
VTI	VANGUARD TOTAL STOCK MARKET INDEX FUND	Added	4,266	+37	$1,578,590	+16.4%	6	before history	0.35%
VTV	VANGUARD VALUE INDEX FUND	Added	6,712	+79	$1,462,746	+12.4%	6	before history	0.32%
EFA	iShares MSCI EAFE ETF	Held	14,000	0	$1,454,320	+6.9%	6	before history	0.32%
JPM	Jpmorgan Chase & Co Financial Services	Added	4,243	+71	$1,388,861	+13.2%	6	before history	0.31%
PAYO	Payoneer Global Inc. Technology	Held	194,222	0	$1,382,860	+47.4%	6	before history	0.31%
AMZN	Amazon Com Inc Consumer Cyclical	Added	5,772	+87	$1,375,698	+16.2%	6	before history	0.30%
VT	VANGUARD TOTAL WORLD STOCK INDEX FUND	Added	7,911	+2	$1,241,631	+13.5%	6	before history	0.27%
AVUV	Avantis U.S. Small Cap Value ETF	Held	9,752	0	$1,216,659	+12.9%	5	$86.19	0.27%
GOOGL	Alphabet Inc. Communication Services	Added	3,132	+97	$1,119,282	+28.2%	6	before history	0.25%
GOOG	Alphabet Inc. Communication Services	Held	3,023	0	$1,068,116	+23.2%	6	before history	0.24%
DFSE	Dimensional Emerging Markets Sustainability Core 1 ETF	Reduced	19,473	-614	$951,840	+11.8%	5	$35.75	0.21%
MU	Micron Technology Inc Technology	Reduced	720	-473	$831,088	+106.2%	4	$127.95	0.18%
BRK-A	Berkshire Hathaway Inc Financial Services	Held	1	0	$748,850	+4.3%	6	before history	0.17%
TSLA	Tesla, Inc. Consumer Cyclical	Added	1,516	+787	$637,629	+135.3%	5	$362.86	0.14%
CAT	Caterpillar Inc Industrials	Held	584	0	$621,901	+50.3%	5	$333.30	0.14%
BRK-B	Berkshire Hathaway Inc Financial Services	Added	1,198	+120	$599,467	+16.0%	6	before history	0.13%
VOO	VANGUARD 500 INDEX FUND	Held	819	0	$562,497	+14.9%	6	before history	0.12%
CASY	Caseys General Stores Inc Consumer Cyclical	Held	702	0	$557,942	+9.2%	6	before history	0.12%
HPE	Hewlett Packard Enterprise Co Technology	Reduced	11,819	-870	$533,155	+76.5%	6	before history	0.12%
LRCX	Lam Research Corp Technology	Held	1,210	0	$524,329	+102.8%	3	$155.53	0.12%
ESGV	VANGUARD ESG U.S. STOCK ETF	Added	3,961	+8	$523,802	—	6	before history	0.12%

Showing the top 50 of 83 positions. Create a free account to see every position, past quarters, search, filters and CSV export.

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.