# Aspen Capital Management, LLC

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 2065974. Source: https://holderbook.com/funds/2065974-aspen-capital-management-llc/

- Reported value: $453.0M
- Positions: 83
- Weight of the ten largest: 73.8%
- Filed: 2026-08-04

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| DIMENSIONAL ETF TRUST | [DFIC](https://holderbook.com/stocks/DFIC/) | $88.7M | 2,380,785 | 19.6% | 6 |
| DIMENSIONAL ETF TRUST | [DFAC](https://holderbook.com/stocks/DFAC/) | $70.0M | 1,577,217 | 15.4% | 6 |
| DIMENSIONAL ETF TRUST | [DFCF](https://holderbook.com/stocks/DFCF/) | $34.8M | 824,636 | 7.7% | 6 |
| ISHARES TR | [SGOV](https://holderbook.com/stocks/SGOV/) | $34.4M | 341,534 | 7.6% | 6 |
| DIMENSIONAL ETF TRUST | [DFEM](https://holderbook.com/stocks/DFEM/) | $22.7M | 557,707 | 5.0% | 6 |
| DIMENSIONAL ETF TRUST | [DFAT](https://holderbook.com/stocks/DFAT/) | $19.2M | 274,326 | 4.2% | 6 |
| DIMENSIONAL ETF TRUST | [DUSB](https://holderbook.com/stocks/DUSB/) | $17.8M | 351,153 | 3.9% | 2 |
| DIMENSIONAL ETF TRUST | [DFAS](https://holderbook.com/stocks/DFAS/) | $17.6M | 214,183 | 3.9% | 6 |
| DIMENSIONAL ETF TRUST | [DFGR](https://holderbook.com/stocks/DFGR/) | $16.0M | 553,939 | 3.5% | 6 |
| US BANCORP | [USB](https://holderbook.com/stocks/USB/) | $13.0M | 214,834 | 2.9% | 6 |
| DIMENSIONAL ETF TRUST | [DFSV](https://holderbook.com/stocks/DFSV/) | $11.5M | 295,557 | 2.5% | 6 |
| DIMENSIONAL ETF TRUST | [DCOR](https://holderbook.com/stocks/DCOR/) | $10.5M | 128,126 | 2.3% | 6 |
| DIMENSIONAL ETF TRUST | [DFAX](https://holderbook.com/stocks/DFAX/) | $7.4M | 201,329 | 1.6% | 6 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $6.4M | 22,182 | 1.4% | 6 |
| ISHARES TR | [IWB](https://holderbook.com/stocks/IWB/) | $6.0M | 14,706 | 1.3% | 6 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $5.5M | 27,591 | 1.2% | 6 |
| DIMENSIONAL ETF TRUST | [DFSU](https://holderbook.com/stocks/DFSU/) | $5.2M | 111,535 | 1.1% | 6 |
| DIMENSIONAL ETF TRUST | [DFSI](https://holderbook.com/stocks/DFSI/) | $4.2M | 92,563 | 0.9% | 6 |
| DIMENSIONAL ETF TRUST | [DFUV](https://holderbook.com/stocks/DFUV/) | $4.1M | 73,845 | 0.9% | 6 |
| TEXAS INSTRS INC | [TXN](https://holderbook.com/stocks/TXN/) | $4.1M | 13,625 | 0.9% | 1 |
| INVESCO QQQ TR | [QQQ](https://holderbook.com/stocks/QQQ/) | $4.0M | 5,490 | 0.9% | 6 |
| AMERICAN CENTY ETF TR | [AVDE](https://holderbook.com/stocks/AVDE/) | $3.3M | 37,046 | 0.7% | 6 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $2.9M | 7,846 | 0.6% | 6 |
| ISHARES TR | [IVV](https://holderbook.com/stocks/IVV/) | $2.6M | 3,514 | 0.6% | 6 |
| DIMENSIONAL ETF TRUST | [DFAW](https://holderbook.com/stocks/DFAW/) | $2.5M | 30,649 | 0.6% | 6 |
| ISHARES TR | [IWM](https://holderbook.com/stocks/IWM/) | $2.2M | 7,479 | 0.5% | 6 |
| AMERICAN CENTY ETF TR | [AVUS](https://holderbook.com/stocks/AVUS/) | $1.9M | 14,662 | 0.4% | 5 |
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $1.8M | 2,472 | 0.4% | 6 |
| STATE STR SPDR DOW JONES IND | [DIA](https://holderbook.com/stocks/DIA/) | $1.6M | 3,050 | 0.4% | 6 |
| VANGUARD INDEX FDS | [VTI](https://holderbook.com/stocks/VTI/) | $1.6M | 4,266 | 0.3% | 6 |
| VANGUARD INDEX FDS | [VTV](https://holderbook.com/stocks/VTV/) | $1.5M | 6,712 | 0.3% | 6 |
| ISHARES TR | [EFA](https://holderbook.com/stocks/EFA/) | $1.5M | 14,000 | 0.3% | 6 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $1.4M | 4,243 | 0.3% | 6 |
| PAYONEER GLOBAL INC | [PAYO](https://holderbook.com/stocks/PAYO/) | $1.4M | 194,222 | 0.3% | 6 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $1.4M | 5,772 | 0.3% | 6 |
| VANGUARD INTL EQUITY INDEX F | [VT](https://holderbook.com/stocks/VT/) | $1.2M | 7,911 | 0.3% | 6 |
| AMERICAN CENTY ETF TR | [AVUV](https://holderbook.com/stocks/AVUV/) | $1.2M | 9,752 | 0.3% | 5 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $1.1M | 3,132 | 0.2% | 6 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $1.1M | 3,023 | 0.2% | 6 |
| DIMENSIONAL ETF TRUST | [DFSE](https://holderbook.com/stocks/DFSE/) | $951.8K | 19,473 | 0.2% | 5 |
| MICRON TECHNOLOGY INC | [MU](https://holderbook.com/stocks/MU/) | $830.9K | 720 | 0.2% | 4 |
| BERKSHIRE HATHAWAY INC DEL | [BRKA](https://holderbook.com/stocks/BRKA/) | $748.9K | 1 | 0.2% | 6 |
| TESLA INC | [TSLA](https://holderbook.com/stocks/TSLA/) | $637.6K | 1,516 | 0.1% | 5 |
| CATERPILLAR INC | [CAT](https://holderbook.com/stocks/CAT/) | $621.9K | 584 | 0.1% | 5 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $599.5K | 1,198 | 0.1% | 6 |
| VANGUARD INDEX FDS | [VOO](https://holderbook.com/stocks/VOO/) | $562.6K | 819 | 0.1% | 6 |
| CASEYS GEN STORES INC | [CASY](https://holderbook.com/stocks/CASY/) | $557.9K | 702 | 0.1% | 6 |
| HEWLETT PACKARD ENTERPRISE C | [HPE](https://holderbook.com/stocks/HPE/) | $533.2K | 11,819 | 0.1% | 6 |
| LAM RESEARCH CORP | [LRCX](https://holderbook.com/stocks/LRCX/) | $524.3K | 1,210 | 0.1% | 3 |
| VANGUARD WORLD FD | [ESGV](https://holderbook.com/stocks/ESGV/) | $523.9K | 3,961 | 0.1% | 6 |
| ISHARES TR | [EEM](https://holderbook.com/stocks/EEM/) | $500.4K | 7,314 | 0.1% | 6 |
| SCHWAB STRATEGIC TR | [SCHX](https://holderbook.com/stocks/SCHX/) | $452.6K | 15,379 | 0.1% | 6 |
| SCHWAB STRATEGIC TR | [SCHB](https://holderbook.com/stocks/SCHB/) | $447.8K | 15,463 | 0.1% | 6 |
| CAPITAL GROUP GBL GROWTH EQT | [CGGO](https://holderbook.com/stocks/CGGO/) | $444.7K | 10,506 | 0.1% | 6 |
| INTUITIVE SURGICAL INC | [ISRG](https://holderbook.com/stocks/ISRG/) | $441.8K | 1,111 | 0.1% | 6 |
| DIMENSIONAL ETF TRUST | [DFSB](https://holderbook.com/stocks/DFSB/) | $440.6K | 8,455 | 0.1% | 6 |
| VANGUARD INDEX FDS | [VB](https://holderbook.com/stocks/VB/) | $425.2K | 1,403 | 0.1% | 6 |
| APPLIED MATLS INC | [AMAT](https://holderbook.com/stocks/AMAT/) | $393.4K | 544 | 0.1% | 1 |
| ELI LILLY & CO | [LLY](https://holderbook.com/stocks/LLY/) | $387.4K | 323 | 0.1% | 6 |
| COSTCO WHOLESALE CORPORATION | [COST](https://holderbook.com/stocks/COST/) | $384.1K | 411 | 0.1% | 6 |
| SCHWAB STRATEGIC TR | [SCHF](https://holderbook.com/stocks/SCHF/) | $361.2K | 13,039 | 0.1% | 6 |
| FIRST TR EXCHANGE-TRADED FD | [FDN](https://holderbook.com/stocks/FDN/) | $345.5K | 1,305 | 0.1% | 6 |
| AGILENT TECHNOLOGIES INC | [A](https://holderbook.com/stocks/A/) | $341.8K | 2,573 | 0.1% | 6 |
| KEYSIGHT TECHNOLOGIES INC | [KEYS](https://holderbook.com/stocks/KEYS/) | $325.2K | 929 | 0.1% | 2 |
| ROBLOX CORP | [RBLX](https://holderbook.com/stocks/RBLX/) | $324.8K | 5,973 | 0.1% | 5 |
| ABBVIE INC | [ABBV](https://holderbook.com/stocks/ABBV/) | $314.8K | 1,251 | 0.1% | 6 |
| MERCK & CO INC | [MRK](https://holderbook.com/stocks/MRK/) | $302.9K | 2,357 | 0.1% | 4 |
| VANGUARD STAR FDS | [VXUS](https://holderbook.com/stocks/VXUS/) | $302.5K | 3,538 | 0.1% | 6 |
| DEERE & CO | [DE](https://holderbook.com/stocks/DE/) | $292.4K | 461 | 0.1% | 6 |
| FIRST TR EXCHANGE-TRADED ALP | [FYX](https://holderbook.com/stocks/FYX/) | $284.8K | 1,974 | 0.1% | 4 |
| AMERICAN CENTY ETF TR | [AVEM](https://holderbook.com/stocks/AVEM/) | $283.5K | 2,938 | 0.1% | 4 |
| SHOPIFY INC | [SHOP](https://holderbook.com/stocks/SHOP/) | $262.6K | 2,300 | 0.1% | 6 |
| ISHARES TR | [IJH](https://holderbook.com/stocks/IJH/) | $253.2K | 3,283 | 0.1% | 6 |
| FIRST TR EXCHANGE TRADED FD | [FXL](https://holderbook.com/stocks/FXL/) | $244.8K | 1,127 | 0.1% | 1 |
| FIRST TR EXCHANGE-TRADED ALP | [FNX](https://holderbook.com/stocks/FNX/) | $241.2K | 1,648 | 0.1% | 6 |
| ISHARES TR | [AGG](https://holderbook.com/stocks/AGG/) | $234.0K | 2,364 | 0.1% | 3 |
| CAPITAL GROUP CORE EQUITY ET | [CGUS](https://holderbook.com/stocks/CGUS/) | $231.6K | 5,207 | 0.1% | 4 |
| DIMENSIONAL ETF TRUST | [DFCA](https://holderbook.com/stocks/DFCA/) | $227.3K | 4,529 | 0.1% | 1 |
| VANGUARD SCOTTSDALE FDS | [VONG](https://holderbook.com/stocks/VONG/) | $217.4K | 1,701 | 0.0% | 1 |
| CAPITAL GROUP GROWTH ETF | [CGGR](https://holderbook.com/stocks/CGGR/) | $216.1K | 4,578 | 0.0% | 1 |
| HOME DEPOT INC | [HD](https://holderbook.com/stocks/HD/) | $214.4K | 608 | 0.0% | 1 |
| STARBUCKS CORP | [SBUX](https://holderbook.com/stocks/SBUX/) | $205.5K | 2,011 | 0.0% | 1 |
| AMERICAN EXPRESS CO | [AXP](https://holderbook.com/stocks/AXP/) | $201.3K | 595 | 0.0% | 1 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +9.2% | +14.8% | -5.7% | 100% |
| Q1 2026 | +0.1% | -4.6% | +4.7% | 100% |
| Q4 2025 | +2.3% | +2.4% | -0.1% | 100% |
| Q3 2025 | +5.4% | +7.8% | -2.5% | 100% |
| Q2 2025 | +6.9% | +10.5% | -3.6% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $453.0M | 83 |
| Q1 2026 | $404.0M | 77 |
| Q4 2025 | $403.8M | 80 |
| Q3 2025 | $392.3M | 81 |
| Q2 2025 | $356.8M | 72 |
| Q1 2025 | $312.7M | 66 |