Athena Investment Management

In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 12, 2025), Athena Investment Management reported 146 stock positions worth $165.1 million. Its top holding was Schwab US Large-Cap ETF (SCHX) at 17.7% of the portfolio, followed by Schwab US Small-Cap ETF (SCHA, 4.5%) and Schwab Intl Equity ETF (SCHF, 4.5%). Compared with Q4 2024, it sold out of 8, added to 23 and reduced 71. The biggest buy was Chevron (CVX, shares +2%) and the biggest sale Schwab US Large-Cap ETF (SCHX, shares −4%).

Most Recent 13F
Q2 2026
Location
ORINDA, CA
CIK
0001921093
Portfolio Value
$165.1M (Q1 2025)
SEC Filing
0001921093-25-000002 ↗ filed May 12, 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 Q4 2024 Q1 2025: $165.1M $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 146 stocks · $165.1M
SCHX Schwab US Large-Cap ETF 17.67% 1,321,576 $29.2M Reduce -3.7%
SCHA Schwab US Small-Cap ETF 4.55% 320,605 $7.5M Reduce -1.5%
SCHF Schwab Intl Equity ETF 4.50% 375,336 $7.4M Reduce -2.5%
UNH UnitedHealth Group Inc. 3.92% 12,365 $6.5M Reduce -0.4%
JPM JPMorgan Chase & Co. 3.74% 25,191 $6.2M Reduce -4.8%
MSFT Microsoft Corp. 3.21% 14,099 $5.3M Reduce -0.1%
AAPL Apple Inc. 2.17% 16,155 $3.6M Reduce -2.9%
SCHG Schwab US Large-Cap Growth 1.94% 128,001 $3.2M Add +1.4%
PEP Pepsico Inc. 1.49% 16,441 $2.5M No change
ABBV Abbvie Inc. 1.44% 11,386 $2.4M No change
HD Home Depot Inc. 1.39% 6,281 $2.3M Reduce -1.1%
SCHM Schwab US Mid Cap ETF 1.28% 80,879 $2.1M Add +2.4%
RTX RTX Corp. 1.24% 15,464 $2.0M Reduce -0.9%
AFL Aflac Inc. 1.22% 18,041 $2.0M Reduce -0.1%
IWM iShares Russell 2000 ETF 1.16% 9,638 $1.9M No change
GE General Electric Company 1.06% 8,782 $1.8M Reduce -1.4%
CVX Chevron Corp. 1.04% 10,262 $1.7M Add +1.7%
EFA iShares MSCI Eafe ETF 1.03% 20,869 $1.7M No change
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.98% 6,508 $1.6M Reduce -2.5%
XOM Exxon Mobil Corp. 0.89% 12,338 $1.5M Reduce -0.2%
KMB Kimberly-Clark Corp. 0.86% 10,019 $1.4M Reduce -0.4%
JNJ Johnson & Johnson 0.86% 8,539 $1.4M Reduce -0.2%
ABT Abbott Laboratories 0.84% 10,497 $1.4M Reduce -4.2%
NOC Northrop Grumman Corp. 0.84% 2,699 $1.4M Add +0.3%
VDE Vanguard Energy ETF 0.81% 10,337 $1.3M Reduce -0.5%
IVV iShares Core S&P 500 ETF 0.80% 2,363 $1.3M No change
PFE Pfizer Inc. 0.80% 52,334 $1.3M Add +1.9%
MCD McDonald's Corp. 0.79% 4,180 $1.3M No change
AT&T filed as AT&T CORP 0.78% 45,386 $1.3M Reduce -0.3%
BANKAMERICA CORP 0.74% 29,419 $1.2M No change
SCHE Schwab Emrg Mrkts Eqty ETF 0.74% 44,446 $1.2M Add +3.3%
HPQ HP Inc. 0.72% 42,984 $1.2M No change
VZ Verizon Communications Inc. 0.71% 25,977 $1.2M Add +0.5%
BRK.B Berkshire Hathaway Inc. Class B 0.70% 2,179 $1.2M Reduce -7.5%
AMGN Amgen Inc. 0.69% 3,678 $1.1M Reduce -3.8%
INTC Intel Corp. 0.69% 49,907 $1.1M Add +5.6%
VV Vngrd Mrgstr LRG-Cap ETF-Usd 0.68% 4,370 $1.1M Add +10.1%
AVGO Broadcom Inc. 0.67% 6,610 $1.1M Add +6.9%
PG The Procter & Gamble Co. 0.66% 6,437 $1.1M Reduce -3.8%
VUG Vanguard Mrngstar GR ETF-Sui 0.66% 2,957 $1.1M Add +10.8%
LLY Eli Lilly & Co. 0.65% 1,308 $1.1M Reduce -7.2%
CSCO Cisco Systems Inc. 0.63% 16,976 $1.0M Reduce -1.4%
SCHV Schwab US Large-Cap Value 0.62% 38,810 $1.0M Reduce -2.0%
XLK SS Technology Select Sector 0.56% 4,510 $931K No change
BMY Bristol-Myers Squibb Co. 0.55% 14,915 $910K No change
NSC Norfolk Southern Corp. 0.53% 3,697 $876K No change
QCOM Qualcomm Inc. 0.51% 5,467 $840K Reduce -3.3%
ITW Illinois Tool Works 0.50% 3,321 $824K No change
WMT Walmart Inc. 0.49% 9,196 $807K Reduce -4.3%
HON Honeywell International Inc. 0.48% 3,739 $792K No change
GOOGL Alphabet Inc. Class A 0.46% 4,914 $760K Add +3.6%
MRK Merck & Co. Inc. 0.46% 8,407 $755K Reduce -0.1%
ADM Archer-Daniels-Midland Co. 0.43% 14,785 $710K Add +0.9%
VHT Vanguard Health Care ETF 0.43% 2,677 $709K No change
RS Reliance Inc. 0.42% 2,411 $696K Reduce -2.4%
WFC Wells Fargo & Co. 0.41% 9,492 $681K Reduce -2.0%
HPE Hewlett Packard Enterprise 0.41% 43,432 $670K No change
TXN Texas Instruments Inc. 0.40% 3,643 $655K No change
LHX L3HARRIS Technologies Inc. 0.39% 3,068 $642K No change
AXP American Express Co. 0.38% 2,353 $633K Reduce -7.2%
MPC Marathon Petroleum Corp. 0.38% 4,342 $633K Reduce -3.6%
EFX Equifax Inc. 0.38% 2,590 $631K No change
BA The Boeing Co. 0.37% 3,566 $608K Reduce -0.5%
SCHW Schwab (charles) Corp. 0.37% 7,708 $603K No change
GS Goldman Sachs Group Inc. 0.36% 1,094 $598K Reduce -15.5%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.35% 5,791 $572K Reduce -0.7%
ADP Automatic Data Processing 0.35% 1,866 $570K No change
VBK Van Morst SML-Cap Gro-Usd Inc. 0.34% 2,237 $563K Add +1.7%
IJH iShares Core S&P Midcap ETF 0.34% 9,641 $563K Reduce -0.1%
SPY SS SPDR S&P 500 ETF Trust-US 0.34% 1,005 $562K Reduce -0.1%
DE Deere & Co. 0.34% 1,197 $562K Reduce -9.0%
CAT Caterpillar Inc. 0.34% 1,684 $555K Reduce -1.5%
COP Conocophillips 0.31% 4,944 $519K No change
VTRS Viatris Inc. 0.31% 59,208 $516K Add +10.7%
MSI Motorola Solutions Inc. 0.31% 1,173 $514K No change
TRV The Travelers Cos Inc. 0.31% 1,908 $505K Reduce -2.8%
GEV GE Vernova Inc. 0.30% 1,649 $503K Reduce -0.2%
SCZ iShares MSCI Eafe Small-Cap 0.30% 7,915 $503K Reduce -4.0%
NVDA Nvidia Corp. 0.30% 4,609 $500K Reduce -0.6%
MDT Medtronic Inc 0.30% 5,458 $490K Reduce -0.6%
DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE 0.29% 1,133 $476K No change
VO Vngrd Mrngstr MD-Cap ETF-Usd 0.29% 1,839 $476K No change
EFG iShares MSCI Eafe Growth ETF 0.28% 4,619 $462K Add +2.0%
ADI Analog Devices Inc. 0.28% 2,263 $456K Add +1.5%
MCK McKesson Corp. 0.27% 663 $446K Reduce -21.7%
WTM White Mountains Insurance GP 0.27% 231 $445K No change
CVS CVS Health Corp. 0.27% 6,489 $440K Add +4.8%
IWO iShares Russell 2000 Growth 0.26% 1,694 $433K No change
STZ Constellation Brands Inc. Class A 0.26% 2,358 $433K No change
CARR Carrier Global Corp. 0.26% 6,664 $422K Reduce -0.7%
KMPR Kemper Corp. 0.26% 6,310 $422K No change
K Kellanova 0.26% 5,103 $421K Reduce -5.4%
FWONA Liberty Media Corp.-Liberty-A 0.25% 5,158 $420K Reduce -2.5%
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.25% 3,398 $414K Reduce -4.5%
APH Amphenol Corp. Class A 0.25% 6,287 $412K No change
NEE Nextera Energy Inc. 0.25% 5,788 $410K Reduce -2.9%
PSX Phillips 66 0.24% 3,249 $401K No change
IYH iShares U.S. Healthcare ETF 0.24% 6,546 $399K No change
SYK Stryker Corp. 0.23% 1,039 $387K Reduce -2.7%
AMAT Applied Materials Inc. 0.23% 2,575 $374K Reduce -4.7%

Show all 146 holdings

Portfolio Sells Q4 2024 → Q1 2025
SCHX Schwab US Large-Cap ETF Reduce -3.7% 17.67% −0.76
QQQ Invesco QQQ Trust Series 1 Sold out 0.00% −0.45
XLY SS Consumer Disc Select Sect Sold out 0.00% −0.44
SCHA Schwab US Small-Cap ETF Reduce -1.5% 4.55% −0.33
AAPL Apple Inc. Reduce -2.9% 2.17% −0.24
MSFT Microsoft Corp. Reduce -0.1% 3.21% −0.24
CW Curtiss-Wright Corp. Sold out 0.00% −0.17
CRM Salesforce Inc. Sold out 0.00% −0.14
COST Costco Wholesale Corp. Sold out 0.00% −0.12
IWR iShares Russell Mid-Cap ETF Sold out 0.00% −0.12
IWP iShares Russell Mid-Cap Grow Sold out 0.00% −0.12
HXL Hexcel Corp. Sold out 0.00% −0.12
GS Goldman Sachs Group Inc. Reduce -15.5% 0.36% −0.07
NVDA Nvidia Corp. Reduce -0.6% 0.30% −0.06
AXP American Express Co. Reduce -7.2% 0.38% −0.05
ETN Eaton Corp. PLC Reduce -7.9% 0.15% −0.04
HD Home Depot Inc. Reduce -1.1% 1.39% −0.04
DIS The Walt Disney Co. Reduce -0.7% 0.35% −0.03
ORCL Oracle Corp. Reduce -0.8% 0.20% −0.03
MRK Merck & Co. Inc. Reduce -0.1% 0.46% −0.03
AMAT Applied Materials Inc. Reduce -4.7% 0.23% −0.03
CEG Constellation Energy Reduce -4.2% 0.22% −0.02
CAT Caterpillar Inc. Reduce -1.5% 0.34% −0.02
WMT Walmart Inc. Reduce -4.3% 0.49% −0.01
GEV GE Vernova Inc. Reduce -0.2% 0.30% −0.01
CARR Carrier Global Corp. Reduce -0.7% 0.26% −0.01
MCK McKesson Corp. Reduce -21.7% 0.27% −0.01
LOW Lowe's Cos Inc. Reduce -4.2% 0.16% −0.01
IJH iShares Core S&P Midcap ETF Reduce -0.1% 0.34% −0.01
MS Morgan Stanley Reduce -1.0% 0.13% −0.01
VIS Vanguard Industrials ETF Reduce -4.8% 0.15% −0.00
UNP Union Pacific Corp. Reduce -10.0% 0.13% −0.00
FWONA Liberty Media Corp.-Liberty-A Reduce -2.5% 0.25% −0.00
CAH Cardinal Health Inc. Reduce -19.2% 0.18% −0.00
SPY SS SPDR S&P 500 ETF Trust-US Reduce -0.1% 0.34% −0.00
CMCSA Comcast Corp. Class A Reduce -2.6% 0.21% +0.00
BA The Boeing Co. Reduce -0.5% 0.37% +0.00
NEE Nextera Energy Inc. Reduce -2.9% 0.25% +0.00
TJX TJX Companies Inc. Reduce -4.5% 0.25% +0.00
K Kellanova Reduce -5.4% 0.26% +0.00
DD Dupont DE Nemours Inc. Reduce -0.4% 0.14% +0.00
SYY Sysco Corp. Reduce -0.8% 0.20% +0.00
QCOM Qualcomm Inc. Reduce -3.3% 0.51% +0.01
ALL Allstate Corp. Reduce -8.3% 0.19% +0.01
LH Laboratory CRP of Amer Hldgs Reduce -0.6% 0.15% +0.01
WY Weyerhaeuser Co. Reduce -2.5% 0.14% +0.01
APD Air Products & Chemicals Inc. Reduce -1.3% 0.21% +0.01
SYK Stryker Corp. Reduce -2.7% 0.23% +0.01
KMI Kinder Morgan Inc. Reduce -0.2% 0.15% +0.01
SCZ iShares MSCI Eafe Small-Cap Reduce -4.0% 0.30% +0.01

Portfolio Buys Q4 2024 → Q1 2025
CVX Chevron Corp. Add +1.7% 1.04% +0.19
INTC Intel Corp. Add +5.6% 0.69% +0.14
VZ Verizon Communications Inc. Add +0.5% 0.71% +0.12
NOC Northrop Grumman Corp. Add +0.3% 0.84% +0.11
CVS CVS Health Corp. Add +4.8% 0.27% +0.11
SCHE Schwab Emrg Mrkts Eqty ETF Add +3.3% 0.74% +0.08
VV Vngrd Mrgstr LRG-Cap ETF-Usd Add +10.1% 0.68% +0.06
SYF Synchrony Financial Add +59.1% 0.18% +0.05
DOW Dow Inc. Add +46.2% 0.18% +0.04
VUG Vanguard Mrngstar GR ETF-Sui Add +10.8% 0.66% +0.03
EFG iShares MSCI Eafe Growth ETF Add +2.0% 0.28% +0.03
SCHM Schwab US Mid Cap ETF Add +2.4% 1.28% +0.02
OXY Occidental Petroleum Corp. Add +3.3% 0.20% +0.01
PFE Pfizer Inc. Add +1.9% 0.80% +0.01
GEHC GE Healthcare Technology Add +1.1% 0.15% +0.01
ADI Analog Devices Inc. Add +1.5% 0.28% +0.00
ADM Archer-Daniels-Midland Co. Add +0.9% 0.43% +0.00
A Agilent Technologies Inc. Add +4.5% 0.20% −0.01
VBK Van Morst SML-Cap Gro-Usd Inc. Add +1.7% 0.34% −0.02
GOOGL Alphabet Inc. Class A Add +3.6% 0.46% −0.06
VTRS Viatris Inc. Add +10.7% 0.31% −0.07
SCHG Schwab US Large-Cap Growth Add +1.4% 1.94% −0.10
AVGO Broadcom Inc. Add +6.9% 0.67% −0.16

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