Athena Investment Management

In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 5, 2025), Athena Investment Management reported 154 stock positions worth $172.6 million. Its top holding was Schwab US Large-Cap ETF (SCHX) at 18.4% of the portfolio, followed by Schwab US Small-Cap ETF (SCHA, 4.9%) and Schwab Intl Equity ETF (SCHF, 4.1%). Compared with Q3 2024, it opened 7 new positions, sold out of 4, added to 18 and reduced 61. The biggest buy was Schwab US Large-Cap ETF (SCHX, shares +1%) and the biggest sale UnitedHealth (UNH, shares −2%).

Most Recent 13F
Q2 2026
Location
ORINDA, CA
CIK
0001921093
Portfolio Value
$172.6M (Q4 2024)
SEC Filing
0001921093-25-000001 ↗ filed Feb 5, 2025

Holdings Value

0$50.0M$100.0M$150.0M$200.0M Q1 2024: $166.6M Q1 2024 Q2 2024: $164.9M Q2 2024 Q3 2024: $175.4M Q3 2024 Q4 2024: $172.6M $172.6M Q4 2024 Q1 2025: $165.1M Q1 2025 Q2 2025: $178.9M Q2 2025 Q3 2025: $192.0M Q3 2025 Q4 2025: $195.2M Q4 2025 Q1 2026: $192.8M Q1 2026 Q2 2026: $168.7M Q2 2026

Holdings 154 stocks · $172.6M
SCHX Schwab US Large-Cap ETF 18.44% 1,372,991 $31.8M Add +1.1%
SCHA Schwab US Small-Cap ETF 4.88% 325,496 $8.4M Add +0.8%
SCHF Schwab Intl Equity ETF 4.12% 384,894 $7.1M Add +0.5%
JPM JPMorgan Chase & Co. 3.67% 26,449 $6.3M Reduce -1.4%
UNH UnitedHealth Group Inc. 3.64% 12,419 $6.3M Reduce -1.5%
MSFT Microsoft Corp. 3.45% 14,113 $5.9M Reduce -0.2%
AAPL Apple Inc. 2.41% 16,643 $4.2M Reduce -2.0%
SCHG Schwab US Large-Cap Growth 2.04% 126,237 $3.5M Add +0.6%
PEP Pepsico Inc. 1.45% 16,441 $2.5M No change
HD Home Depot Inc. 1.43% 6,351 $2.5M Reduce -4.2%
SCHM Schwab US Mid Cap ETF 1.27% 79,013 $2.2M Add +1.6%
IWM iShares Russell 2000 ETF 1.23% 9,638 $2.1M No change
ABBV Abbvie Inc. 1.17% 11,386 $2.0M Reduce -0.0%
AFL Aflac Inc. 1.08% 18,055 $1.9M Reduce -5.7%
RTX RTX Corp. 1.05% 15,608 $1.8M Reduce -0.4%
EFA iShares MSCI Eafe ETF 0.91% 20,869 $1.6M No change
GE General Electric Company 0.86% 8,909 $1.5M Reduce -0.6%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.85% 6,673 $1.5M Reduce -4.3%
CVX Chevron Corp. 0.85% 10,093 $1.5M Reduce -1.5%
AVGO Broadcom Inc. 0.83% 6,181 $1.4M Add +4.0%
HPQ HP Inc. 0.81% 42,984 $1.4M No change
IVV iShares Core S&P 500 ETF 0.81% 2,363 $1.4M No change
PFE Pfizer Inc. 0.79% 51,368 $1.4M Reduce -1.6%
XOM Exxon Mobil Corp. 0.77% 12,368 $1.3M Reduce -0.0%
KMB Kimberly-Clark Corp. 0.76% 10,062 $1.3M No change
BANKAMERICA CORP 0.75% 29,419 $1.3M No change
NOC Northrop Grumman Corp. 0.73% 2,690 $1.3M No change
VDE Vanguard Energy ETF 0.73% 10,386 $1.3M No change
ABT Abbott Laboratories 0.72% 10,952 $1.2M No change
JNJ Johnson & Johnson 0.72% 8,559 $1.2M No change
MCD McDonald's Corp. 0.70% 4,180 $1.2M Reduce -1.7%
SCHE Schwab Emrg Mrkts Eqty ETF 0.66% 43,008 $1.1M Add +1.4%
PG The Procter & Gamble Co. 0.65% 6,689 $1.1M Reduce -6.3%
VUG Vanguard Mrngstar GR ETF-Sui 0.63% 2,670 $1.1M Add +10.3%
LLY Eli Lilly & Co. 0.63% 1,409 $1.1M Reduce -0.3%
VV Vngrd Mrgstr LRG-Cap ETF-Usd 0.62% 3,970 $1.1M Add +22.5%
BRK.B Berkshire Hathaway Inc. Class B 0.62% 2,356 $1.1M Reduce -27.1%
XLK SS Technology Select Sector 0.61% 4,510 $1.0M No change
AT&T filed as AT&T CORP 0.60% 45,523 $1.0M Add +0.0%
VZ Verizon Communications Inc. 0.60% 25,837 $1.0M Add +0.4%
SCHV Schwab US Large-Cap Value 0.60% 39,585 $1.0M No change
CSCO Cisco Systems Inc. 0.59% 17,210 $1.0M Reduce -1.3%
AMGN Amgen Inc. 0.58% 3,824 $997K Reduce -0.7%
INTC Intel Corp. 0.55% 47,258 $948K Reduce -5.3%
HPE Hewlett Packard Enterprise 0.54% 43,432 $927K No change
GOOGL Alphabet Inc. Class A 0.52% 4,745 $898K Add +0.4%
QCOM Qualcomm Inc. 0.50% 5,656 $869K Add +0.1%
WMT Walmart Inc. 0.50% 9,605 $868K Reduce -11.5%
NSC Norfolk Southern Corp. 0.50% 3,697 $868K Reduce -4.3%
HON Honeywell International Inc. 0.49% 3,739 $845K No change
BMY Bristol-Myers Squibb Co. 0.49% 14,915 $844K No change
ITW Illinois Tool Works 0.49% 3,321 $842K Reduce -1.1%
MRK Merck & Co. Inc. 0.49% 8,420 $838K No change
QQQ Invesco QQQ Trust Series 1 0.45% 1,521 $778K Reduce -6.9%
AXP American Express Co. 0.44% 2,536 $753K Reduce -3.5%
XLY SS Consumer Disc Select Sect 0.44% 3,350 $752K No change
GS Goldman Sachs Group Inc. 0.43% 1,295 $742K Reduce -12.3%
ADM Archer-Daniels-Midland Co. 0.43% 14,649 $740K Reduce -0.1%
TXN Texas Instruments Inc. 0.40% 3,643 $683K Reduce -4.2%
WFC Wells Fargo & Co. 0.39% 9,691 $681K Reduce -0.7%
VHT Vanguard Health Care ETF 0.39% 2,677 $679K Add +59.6%
VTRS Viatris Inc. 0.39% 53,494 $666K Add +28.1%
RS Reliance Inc. 0.39% 2,471 $665K Reduce -1.4%
EFX Equifax Inc. 0.38% 2,590 $660K No change
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.38% 5,831 $649K No change
LHX L3HARRIS Technologies Inc. 0.37% 3,068 $645K No change
BA The Boeing Co. 0.37% 3,582 $634K Reduce -1.4%
MPC Marathon Petroleum Corp. 0.36% 4,506 $629K No change
NVDA Nvidia Corp. 0.36% 4,636 $623K Reduce -0.5%
CAT Caterpillar Inc. 0.36% 1,709 $620K Reduce -7.4%
VBK Van Morst SML-Cap Gro-Usd Inc. 0.36% 2,200 $616K Add +1.6%
IJH iShares Core S&P Midcap ETF 0.35% 9,646 $601K Reduce -0.1%
SPY SS SPDR S&P 500 ETF Trust-US 0.34% 1,006 $589K No change
SCHW Schwab (charles) Corp. 0.33% 7,708 $570K No change
DE Deere & Co. 0.32% 1,315 $557K Reduce -0.6%
ADP Automatic Data Processing 0.32% 1,866 $546K No change
GEV GE Vernova Inc. 0.31% 1,652 $543K Reduce -25.5%
MSI Motorola Solutions Inc. 0.31% 1,173 $542K Reduce -4.0%
STZ Constellation Brands Inc. Class A 0.30% 2,358 $521K No change
SCZ iShares MSCI Eafe Small-Cap 0.29% 8,245 $501K Add +24.1%
COP Conocophillips 0.28% 4,944 $490K Add +7.1%
IWO iShares Russell 2000 Growth 0.28% 1,694 $488K No change
VO Vngrd Mrngstr MD-Cap ETF-Usd 0.28% 1,839 $486K No change
MCK McKesson Corp. 0.28% 847 $483K Reduce -14.4%
DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE 0.28% 1,133 $482K No change
ADI Analog Devices Inc. 0.27% 2,229 $474K No change
TRV The Travelers Cos Inc. 0.27% 1,963 $473K No change
CARR Carrier Global Corp. 0.27% 6,714 $458K No change
WTM White Mountains Insurance GP 0.26% 231 $449K Reduce -0.4%
FWONA Liberty Media Corp.-Liberty-A 0.26% 5,291 $445K Reduce -0.7%
AMAT Applied Materials Inc. 0.25% 2,701 $439K No change
EFG iShares MSCI Eafe Growth ETF 0.25% 4,528 $438K Reduce -0.2%
MDT Medtronic Inc 0.25% 5,488 $438K No change
K Kellanova 0.25% 5,394 $437K No change
APH Amphenol Corp. Class A 0.25% 6,287 $437K Reduce -0.2%
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.25% 3,560 $430K Reduce -10.9%
NEE Nextera Energy Inc. 0.25% 5,958 $427K No change
KMPR Kemper Corp. 0.24% 6,310 $419K No change
CEG Constellation Energy 0.24% 1,852 $414K No change
GOOG Alphabet Inc. Class C 0.24% 2,131 $406K No change

Show all 154 holdings

Portfolio Sells Q3 2024 → Q4 2024
UNH UnitedHealth Group Inc. Reduce -1.5% 3.64% −0.56
BRK.B Berkshire Hathaway Inc. Class B Reduce -27.1% 0.62% −0.23
D Dominion Energy Inc. Sold out 0.00% −0.14
AFL Aflac Inc. Reduce -5.7% 1.08% −0.14
LH Labcorp Holdings Inc. Sold out 0.00% −0.13
AMGN Amgen Inc. Reduce -0.7% 0.58% −0.13
INTC Intel Corp. Reduce -5.3% 0.55% −0.12
VLO Valero Energy Corp. Sold out 0.00% −0.12
VIG Vanguard Dividend Apprec ETF Sold out 0.00% −0.12
ABBV Abbvie Inc. Reduce -0.0% 1.17% −0.11
GE General Electric Company Reduce -0.6% 0.86% −0.10
HD Home Depot Inc. Reduce -4.2% 1.43% −0.10
DOW Dow Inc. Reduce -19.9% 0.14% −0.09
LLY Eli Lilly & Co. Reduce -0.3% 0.63% −0.08
CVS CVS Health Corp. Reduce -6.5% 0.16% −0.08
PFE Pfizer Inc. Reduce -1.6% 0.79% −0.07
ADM Archer-Daniels-Midland Co. Reduce -0.1% 0.43% −0.07
XOM Exxon Mobil Corp. Reduce -0.0% 0.77% −0.06
PG The Procter & Gamble Co. Reduce -6.3% 0.65% −0.05
CAT Caterpillar Inc. Reduce -7.4% 0.36% −0.05
TXN Texas Instruments Inc. Reduce -4.2% 0.40% −0.05
NSC Norfolk Southern Corp. Reduce -4.3% 0.50% −0.04
MCD McDonald's Corp. Reduce -1.7% 0.70% −0.04
RTX RTX Corp. Reduce -0.4% 1.05% −0.04
AVY Avery Dennison Corp. Reduce -2.5% 0.18% −0.03
IBM Intl Business Machines Corp. Reduce -4.3% 0.85% −0.03
ETN Eaton Corp. PLC Reduce -14.7% 0.19% −0.03
RS Reliance Inc. Reduce -1.4% 0.39% −0.03
GEHC GE Healthcare Technology Reduce -1.9% 0.13% −0.03
WY Weyerhaeuser Co. Reduce -1.3% 0.13% −0.03
EFG iShares MSCI Eafe Growth ETF Reduce -0.2% 0.25% −0.02
MSFT Microsoft Corp. Reduce -0.2% 3.45% −0.02
TT Trane Technologies PLC Reduce -10.6% 0.14% −0.02
TJX TJX Companies Inc. Reduce -10.9% 0.25% −0.02
ACN Accenture PLC Class A Reduce -12.4% 0.14% −0.02
ORCL Oracle Corp. Reduce -6.1% 0.23% −0.02
ITW Illinois Tool Works Reduce -1.1% 0.49% −0.01
CVX Chevron Corp. Reduce -1.5% 0.85% −0.01
OXY Occidental Petroleum Corp. Reduce -3.2% 0.18% −0.01
ALL Allstate Corp. Reduce -8.2% 0.19% −0.01
SYK Stryker Corp. Reduce -5.0% 0.22% −0.01
GEV GE Vernova Inc. Reduce -25.5% 0.31% −0.01
APD Air Products & Chemicals Inc. Reduce -2.3% 0.20% −0.01
QQQ Invesco QQQ Trust Series 1 Reduce -6.9% 0.45% −0.00
MCK McKesson Corp. Reduce -14.4% 0.28% +0.00
MSI Motorola Solutions Inc. Reduce -4.0% 0.31% +0.00
PCG P G & E Corp. Reduce -2.9% 0.14% +0.00
IWR iShares Russell Mid-Cap ETF Reduce -0.1% 0.12% +0.00
IWB iShares Russell 1000 ETF Reduce -2.2% 0.13% +0.00
COST Costco Wholesale Corp. Reduce -2.1% 0.12% +0.00

Portfolio Buys Q3 2024 → Q4 2024
SCHX Schwab US Large-Cap ETF Add +1.1% 18.44% +0.92
AVGO Broadcom Inc. Add +4.0% 0.83% +0.25
CW Curtiss-Wright Corp. New 0.17% +0.17
SCHG Schwab US Large-Cap Growth Add +0.6% 2.04% +0.17
KMI Kinder Morgan Inc. New 0.14% +0.14
LH Laboratory CRP of Amer Hldgs New 0.14% +0.14
CRM Salesforce Inc. New 0.14% +0.14
SCHA Schwab US Small-Cap ETF Add +0.8% 4.88% +0.14
VV Vngrd Mrgstr LRG-Cap ETF-Usd Add +22.5% 0.62% +0.13
SYF Synchrony Financial New 0.13% +0.13
VHT Vanguard Health Care ETF Add +59.6% 0.39% +0.12
IWP iShares Russell Mid-Cap Grow New 0.12% +0.12
VWO Vanguard Ftse Emerging Marke New 0.12% +0.12
VTRS Viatris Inc. Add +28.1% 0.39% +0.11
VUG Vanguard Mrngstar GR ETF-Sui Add +10.3% 0.63% +0.11
GOOGL Alphabet Inc. Class A Add +0.4% 0.52% +0.07
SCHM Schwab US Mid Cap ETF Add +1.6% 1.27% +0.04
SCZ iShares MSCI Eafe Small-Cap Add +24.1% 0.29% +0.03
AT&T Add +0.0% 0.60% +0.03
VBK Van Morst SML-Cap Gro-Usd Inc. Add +1.6% 0.36% +0.03
COP Conocophillips Add +7.1% 0.28% +0.01
SCHE Schwab Emrg Mrkts Eqty ETF Add +1.4% 0.66% −0.04
QCOM Qualcomm Inc. Add +0.1% 0.50% −0.04
VZ Verizon Communications Inc. Add +0.4% 0.60% −0.06
SCHF Schwab Intl Equity ETF Add +0.5% 4.12% −0.36

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 132$168.7MSCHX, SCHA, SCHF, JPM, INTC
Q1 2026 153$192.8MSCHX, SCHF, SCHA, JPM, MSFT
Q4 2025 155$195.2MSCHX, SCHF, SCHA, JPM, MSFT
Q3 2025 155$192.0MSCHX, SCHF, SCHA, JPM, MSFT
Q2 2025 155$178.9MSCHX, SCHF, SCHA, JPM, MSFT
Q1 2025 146$165.1MSCHX, SCHA, SCHF, UNH, JPM
Q4 2024 154$172.6MSCHX, SCHA, SCHF, JPM, UNH
Q3 2024 151$175.4MSCHX, SCHA, SCHF, UNH, MSFT
Q2 2024 148$164.9MSCHX, SCHA, SCHF, UNH, MSFT
Q1 2024 149$166.6MSCHX, SCHA, SCHF, UNH, MSFT