Athena Investment Management

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 12, 2026), Athena Investment Management reported 155 stock positions worth $195.2 million. Its top holding was Schwab US Large-Cap ETF (SCHX) at 18.0% of the portfolio, followed by Schwab Intl Equity ETF (SCHF, 4.6%) and Schwab US Small-Cap ETF (SCHA, 4.4%). Compared with Q3 2025, it opened 5 new positions, sold out of 5, added to 28 and reduced 49. The biggest buy was Vanguard Ftse Developed ETF (VEA, shares +36%) and the biggest sale an exit from Kellanova (K).

Most Recent 13F
Q2 2026
Location
ORINDA, CA
CIK
0001921093
Portfolio Value
$195.2M (Q4 2025)
SEC Filing
0001921093-26-000001 ↗ filed Feb 12, 2026

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 Q1 2025 Q2 2025: $178.9M Q2 2025 Q3 2025: $192.0M Q3 2025 Q4 2025: $195.2M $195.2M Q4 2025 Q1 2026: $192.8M Q1 2026 Q2 2026: $168.7M Q2 2026

Holdings 155 stocks · $195.2M
SCHX Schwab US Large-Cap ETF 18.02% 1,306,764 $35.2M Reduce -0.1%
SCHF Schwab Intl Equity ETF 4.61% 374,454 $9.0M Add +0.2%
SCHA Schwab US Small-Cap ETF 4.37% 299,745 $8.5M Reduce -0.9%
JPM JPMorgan Chase & Co. 4.01% 24,278 $7.8M Reduce -0.8%
MSFT Microsoft Corp. 3.46% 13,947 $6.7M Add +0.2%
AAPL Apple Inc. 2.37% 17,021 $4.6M Reduce -2.9%
SCHG Schwab US Large-Cap Growth 2.14% 128,302 $4.2M Add +0.1%
UNH UnitedHealth Group Inc. 2.09% 12,353 $4.1M No change
RTX RTX Corp. 1.44% 15,296 $2.8M Reduce -0.0%
ABBV Abbvie Inc. 1.33% 11,340 $2.6M Reduce -0.1%
GE General Electric Company filed as GE Aerospace 1.32% 8,368 $2.6M Reduce -0.7%
SCHM Schwab US Mid Cap ETF 1.28% 82,959 $2.5M Add +0.1%
VV Vngrd Mrgstr LRG-Cap ETF-Usd 1.22% 7,591 $2.4M Add +15.0%
IWM iShares Russell 2000 ETF 1.21% 9,629 $2.4M No change
PEP Pepsico Inc. 1.20% 16,383 $2.4M No change
AVGO Broadcom Inc. 1.13% 6,351 $2.2M Add +2.2%
HD Home Depot Inc. 1.11% 6,281 $2.2M No change
EFA iShares MSCI Eafe ETF 1.03% 20,869 $2.0M No change
AFL Aflac Inc. 1.00% 17,676 $1.9M Reduce -0.5%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.98% 6,435 $1.9M Reduce -0.2%
JNJ Johnson & Johnson 0.89% 8,413 $1.7M Reduce -0.3%
VUG Vanguard Mrngstar GR ETF-Sui 0.89% 3,566 $1.7M Add +2.4%
INTC Intel Corp. 0.85% 45,128 $1.7M Reduce -3.1%
CVX Chevron Corp. 0.83% 10,690 $1.6M Reduce -0.1%
BANKAMERICA CORP 0.83% 29,419 $1.6M No change
IVV iShares Core S&P 500 ETF 0.81% 2,307 $1.6M Reduce -0.1%
NOC Northrop Grumman Corp. 0.79% 2,699 $1.5M No change
SCHE Schwab Emrg Mrkts Eqty ETF 0.78% 46,474 $1.5M Add +0.9%
GOOGL Alphabet Inc. Class A 0.77% 4,827 $1.5M Add +0.6%
XOM Exxon Mobil Corp. 0.75% 12,220 $1.5M Reduce -0.1%
LLY Eli Lilly & Co. 0.71% 1,281 $1.4M Reduce -1.9%
VDE Vanguard Energy ETF 0.69% 10,708 $1.3M Add +4.1%
ABT Abbott Laboratories 0.67% 10,497 $1.3M No change
PFE Pfizer Inc. 0.67% 52,302 $1.3M No change
XLK SS Technology Select Sector 0.67% 9,020 $1.3M No change
CSCO Cisco Systems Inc. 0.66% 16,811 $1.3M Reduce -0.2%
BRK.B Berkshire Hathaway Inc. Class B 0.66% 2,549 $1.3M Reduce -3.7%
AMGN Amgen Inc. 0.65% 3,883 $1.3M Add +0.2%
MCD McDonald's Corp. 0.62% 3,980 $1.2M No change
VEA Vanguard Ftse Developed ETF 0.60% 18,642 $1.2M Add +35.7%
SCHV Schwab US Large-Cap Value 0.58% 38,510 $1.1M No change
AT&T filed as AT&T CORP 0.58% 45,446 $1.1M Reduce -0.3%
VZ Verizon Communications Inc. 0.56% 26,836 $1.1M No change
HPE Hewlett Packard Enterprise 0.53% 43,432 $1.0M No change
NSC Norfolk Southern Corp. 0.52% 3,543 $1.0M No change
KMB Kimberly-Clark Corp. 0.52% 10,019 $1.0M No change
QCOM Qualcomm Inc. 0.49% 5,610 $960K Add +1.0%
HPQ HP Inc. 0.48% 42,105 $938K No change
MRK Merck & Co. Inc. 0.47% 8,777 $924K Add +1.5%
QQQ Invesco QQQ Trust Series 1 0.47% 1,491 $916K Reduce -0.8%
PG The Procter & Gamble Co. 0.47% 6,378 $914K No change
WFC Wells Fargo & Co. 0.46% 9,635 $898K Add +2.0%
VO Vngrd Mrngstr MD-Cap ETF-Usd 0.46% 3,088 $896K Add +5.2%
LHX L3HARRIS Technologies Inc. 0.46% 3,036 $891K Reduce -1.0%
NVDA Nvidia Corp. 0.44% 4,559 $850K Reduce -0.6%
CAT Caterpillar Inc. 0.43% 1,466 $840K Reduce -1.5%
ADM Archer-Daniels-Midland Co. 0.43% 14,514 $834K No change
AMAT Applied Materials Inc. 0.42% 3,189 $820K Reduce -2.5%
BMY Bristol-Myers Squibb Co. 0.42% 15,115 $815K Add +1.3%
APH Amphenol Corp. Class A 0.42% 6,023 $814K Add +3.3%
VHT Vanguard Health Care ETF 0.41% 2,804 $807K Add +0.5%
XLY SS Consumer Disc Select Sect 0.41% 6,700 $800K No change
VTRS Viatris Inc. 0.41% 63,884 $795K Add +3.9%
BA The Boeing Co. 0.40% 3,606 $783K Add +1.7%
SCHW Schwab (charles) Corp. 0.39% 7,708 $770K No change
HON Honeywell International Inc. 0.39% 3,900 $761K Add +4.3%
ITW Illinois Tool Works 0.39% 3,087 $760K Add +0.6%
VB Vanguard Most SM-Cap ETF-Usd 0.39% 2,918 $753K Add +17.2%
WMT Walmart Inc. 0.38% 6,660 $742K Reduce -0.7%
AXP American Express Co. 0.38% 1,979 $732K Reduce -14.4%
RS Reliance Inc. 0.36% 2,424 $700K Add +2.5%
SPY SS SPDR S&P 500 ETF Trust-US 0.35% 1,005 $685K No change
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.33% 5,711 $650K No change
MPC Marathon Petroleum Corp. 0.33% 3,931 $639K Reduce -3.1%
TXN Texas Instruments Inc. 0.32% 3,643 $632K No change
IJH iShares Core S&P Midcap ETF 0.32% 9,457 $624K Reduce -1.9%
ADI Analog Devices Inc. 0.31% 2,266 $615K No change
CEG Constellation Energy 0.31% 1,729 $611K Reduce -2.6%
GEV GE Vernova Inc. 0.31% 932 $609K Reduce -9.0%
DE Deere & Co. 0.31% 1,297 $604K No change
VXUS Vanguard Total Intl Stock 0.31% 7,902 $596K Add +35.8%
GS Goldman Sachs Group Inc. 0.31% 678 $596K Reduce -2.9%
SCZ iShares MSCI Eafe Small-Cap 0.30% 7,640 $592K No change
GOOG Alphabet Inc. Class C 0.30% 1,856 $582K Reduce -3.4%
EFX Equifax Inc. 0.29% 2,608 $566K Add +2.4%
IWO iShares Russell 2000 Growth 0.28% 1,694 $547K No change
EFG iShares MSCI Eafe Growth ETF 0.27% 4,619 $526K No change
MDT Medtronic Inc 0.27% 5,458 $524K No change
DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE 0.27% 1,078 $518K No change
CVS CVS Health Corp. 0.26% 6,479 $514K Reduce -0.1%
VBK Van Morst SML-Cap Gro-Usd Inc. 0.25% 1,590 $480K Reduce -17.0%
WTM White Mountains Insurance GP 0.24% 229 $476K No change
VWO Vanguard Ftse Emerging Marke 0.24% 8,821 $474K Add +76.2%
COP Conocophillips 0.24% 4,944 $463K No change
NEE Nextera Energy Inc. 0.23% 5,713 $459K Reduce -1.3%
MSI Motorola Solutions Inc. 0.23% 1,173 $450K No change
TRV The Travelers Cos Inc. 0.23% 1,535 $445K Reduce -8.2%
FWONA Liberty Media Corp.-Liberty-A 0.23% 4,970 $444K Reduce -0.7%
ADP Automatic Data Processing 0.23% 1,716 $441K No change
ORCL Oracle Corp. 0.22% 2,241 $437K No change

Show all 155 holdings

Portfolio Sells Q3 2025 → Q4 2025
K Kellanova Sold out 0.00% −0.21
DD Dupont DE Nemours Inc. Sold out 0.00% −0.13
VLO Valero Energy Corp. Sold out 0.00% −0.12
XYL Xylem Inc. Sold out 0.00% −0.11
AT&T Reduce -0.3% 0.58% −0.09
MPC Marathon Petroleum Corp. Reduce -3.1% 0.33% −0.08
HBI Hanesbrands Inc. Sold out 0.00% −0.07
TJX TJX Companies Inc. Reduce -26.7% 0.19% −0.06
ETN Eaton Corp. PLC Reduce -19.5% 0.11% −0.05
VBK Van Morst SML-Cap Gro-Usd Inc. Reduce -17.0% 0.25% −0.05
OXY Occidental Petroleum Corp. Reduce -18.3% 0.11% −0.05
ABBV Abbvie Inc. Reduce -0.1% 1.33% −0.04
BRK.B Berkshire Hathaway Inc. Class B Reduce -3.7% 0.66% −0.04
AFL Aflac Inc. Reduce -0.5% 1.00% −0.03
LHX L3HARRIS Technologies Inc. Reduce -1.0% 0.46% −0.03
CVX Chevron Corp. Reduce -0.1% 0.83% −0.03
AXP American Express Co. Reduce -14.4% 0.38% −0.02
SCHA Schwab US Small-Cap ETF Reduce -0.9% 4.37% −0.02
FWONA Liberty Media Corp.-Liberty-A Reduce -0.7% 0.23% −0.02
PSX Phillips 66 Reduce -1.6% 0.21% −0.02
MCK McKesson Corp. Reduce -12.6% 0.19% −0.02
GEV GE Vernova Inc. Reduce -9.0% 0.31% −0.02
TRV The Travelers Cos Inc. Reduce -8.2% 0.23% −0.02
CMCSA Comcast Corp. Class A Reduce -3.2% 0.14% −0.01
JPM JPMorgan Chase & Co. Reduce -0.8% 4.01% −0.01
NVDA Nvidia Corp. Reduce -0.6% 0.44% −0.01
CAH Cardinal Health Inc. Reduce -27.4% 0.12% −0.01
IJH iShares Core S&P Midcap ETF Reduce -1.9% 0.32% −0.01
VIS Vanguard Industrials ETF Reduce -2.7% 0.14% −0.01
XLF SS Financial Select Sector Reduce -1.5% 0.16% −0.00
QQQ Invesco QQQ Trust Series 1 Reduce -0.8% 0.47% −0.00
SYF Synchrony Financial Reduce -13.5% 0.16% −0.00
DOW Dow Inc. Reduce -0.2% 0.11% +0.00
GE General Electric Company Reduce -0.7% 1.32% +0.00
IVV iShares Core S&P 500 ETF Reduce -0.1% 0.81% +0.00
NEE Nextera Energy Inc. Reduce -1.3% 0.23% +0.01
CVS CVS Health Corp. Reduce -0.1% 0.26% +0.01
CEG Constellation Energy Reduce -2.6% 0.31% +0.01
GEHC GE Healthcare Technology Reduce -0.0% 0.13% +0.01
HXL Hexcel Corp. Reduce -1.0% 0.12% +0.02
GS Goldman Sachs Group Inc. Reduce -2.9% 0.31% +0.02
WMT Walmart Inc. Reduce -0.7% 0.38% +0.02
IBM Intl Business Machines Corp. Reduce -0.2% 0.98% +0.03
XOM Exxon Mobil Corp. Reduce -0.1% 0.75% +0.04
INTC Intel Corp. Reduce -3.1% 0.85% +0.04
AAPL Apple Inc. Reduce -2.9% 2.37% +0.04
GOOG Alphabet Inc. Class C Reduce -3.4% 0.30% +0.05
CAT Caterpillar Inc. Reduce -1.5% 0.43% +0.06
CSCO Cisco Systems Inc. Reduce -0.2% 0.66% +0.06
SCHX Schwab US Large-Cap ETF Reduce -0.1% 18.02% +0.06

Portfolio Buys Q3 2025 → Q4 2025
VEA Vanguard Ftse Developed ETF Add +35.7% 0.60% +0.17
GOOGL Alphabet Inc. Class A Add +0.6% 0.77% +0.17
VV Vngrd Mrgstr LRG-Cap ETF-Usd Add +15.0% 1.22% +0.17
ACN Accenture PLC Class A New 0.16% +0.16
WBD Warner Bros Discovery Inc. New 0.14% +0.14
GILD Gilead Sciences Inc. New 0.11% +0.11
IFF Intl Flavors & Fragrances New 0.11% +0.11
VIG Vanguard Dividend Apprec ETF New 0.10% +0.10
VWO Vanguard Ftse Emerging Marke Add +76.2% 0.24% +0.10
MRK Merck & Co. Inc. Add +1.5% 0.47% +0.10
VTRS Viatris Inc. Add +3.9% 0.41% +0.09
VXUS Vanguard Total Intl Stock Add +35.8% 0.31% +0.08
AMGN Amgen Inc. Add +0.2% 0.65% +0.08
SCHF Schwab Intl Equity ETF Add +0.2% 4.61% +0.08
BMY Bristol-Myers Squibb Co. Add +1.3% 0.42% +0.07
AVGO Broadcom Inc. Add +2.2% 1.13% +0.06
VB Vanguard Most SM-Cap ETF-Usd Add +17.2% 0.39% +0.06
WFC Wells Fargo & Co. Add +2.0% 0.46% +0.05
APH Amphenol Corp. Class A Add +3.3% 0.42% +0.04
VHT Vanguard Health Care ETF Add +0.5% 0.41% +0.04
VUG Vanguard Mrngstar GR ETF-Sui Add +2.4% 0.89% +0.02
VDE Vanguard Energy ETF Add +4.1% 0.69% +0.02
SCHG Schwab US Large-Cap Growth Add +0.1% 2.14% +0.01
RS Reliance Inc. Add +2.5% 0.36% +0.01
QCOM Qualcomm Inc. Add +1.0% 0.49% +0.01
VO Vngrd Mrngstr MD-Cap ETF-Usd Add +5.2% 0.46% +0.01
BA The Boeing Co. Add +1.7% 0.40% +0.00
SCHM Schwab US Mid Cap ETF Add +0.1% 1.28% −0.00
HON Honeywell International Inc. Add +4.3% 0.39% −0.02
SCHE Schwab Emrg Mrkts Eqty ETF Add +0.9% 0.78% −0.02
ITW Illinois Tool Works Add +0.6% 0.39% −0.03
EFX Equifax Inc. Add +2.4% 0.29% −0.05
MSFT Microsoft Corp. Add +0.2% 3.46% −0.30

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