13F HOLDINGS REPORT

Athena Investment Management

Quarter ended Q3 2025 · Filed November 13, 2025 · Accession 0001921093-25-000006

Total Value

$192.0M

Positions

155

Other Managers

Confidential Omitted

View on SEC.gov

Holdings (155)

#	Issuer	Ticker / CUSIP	Shares	Value	% of Filing
1	Schwab U.S. Large-Cap ETF	808524201	1,308,343	$34.5M	17.95%
2	Schwab International Equity ETF	808524805	373,859	$8.7M	4.53%
3	Schwab U.S. Small-Cap ETF	808524607	302,407	$8.4M	4.40%
4	JP Morgan Chase & Co.	VYLD	24,466	$7.7M	4.02%
5	Microsoft Corp	MSFT	13,915	$7.2M	3.75%
6	Apple Inc.	AAPL	17,537	$4.5M	2.33%
7	UnitedHealth Group Inc.	UNH	12,353	$4.3M	2.22%
8	Schwab U.S. Large-Cap Growth ETF	808524300	128,143	$4.1M	2.13%
9	AbbVie Inc.	ABBV	11,349	$2.6M	1.37%
10	RTX Corp.	RTX	15,299	$2.6M	1.33%
11	Home Depot	HD	6,281	$2.5M	1.33%
12	GE Aerospace	GE	8,423	$2.5M	1.32%
13	Schwab U.S. Mid-Cap ETF	808524508	82,913	$2.5M	1.28%
14	iShares Russell 2000 Index	464287655	9,629	$2.3M	1.21%
15	Pepsico Inc.	PEP	16,383	$2.3M	1.20%
16	Broadcom Inc.	AVGO	6,216	$2.1M	1.07%
17	Vanguard Large Cap ETF	922908637	6,600	$2.0M	1.06%
18	Aflac Inc	AFL	17,762	$2.0M	1.03%
19	IShares MSCI EAFE Index	464287465	20,869	$1.9M	1.02%
20	International Business Machines	INTR	6,450	$1.8M	0.95%
21	Vanguard Growth ETF	922908736	3,484	$1.7M	0.87%
22	Chevron Corporation	CVX	10,702	$1.7M	0.87%
23	Northrop Grumman Corp	NOC	2,699	$1.6M	0.86%
24	Johnson & Johnson	JNJ	8,437	$1.6M	0.81%
25	Intel Corp	INTC	46,567	$1.6M	0.81%
26	iShares S&P 500 Index	464287200	2,310	$1.5M	0.81%
27	Schwab Emerging Markets Equity ETF	808524706	46,037	$1.5M	0.80%
28	Bank of America Corp	06605F102	29,419	$1.5M	0.79%
29	Abbott Laboratories	ABLZF	10,497	$1.4M	0.73%
30	Exxon Mobil Corporation	XOM	12,226	$1.4M	0.72%
31	Pfizer Inc.	PFE	52,302	$1.3M	0.69%
32	Berkshire Hathaway Cl. B	BRK-A	2,648	$1.3M	0.69%
33	Vanguard Energy Sector ETF	92204A306	10,286	$1.3M	0.67%
34	AT&T Inc.	T-PC	45,566	$1.3M	0.67%
35	Technology Select Sector SPDR ETF	81369Y803	4,510	$1.3M	0.66%
36	Kimberly-Clark Corp	KMB	10,019	$1.2M	0.65%
37	McDonalds Corp	MCD	3,980	$1.2M	0.63%
38	Verizon Communications	VZ	26,836	$1.2M	0.61%
39	Alphabet Inc. Cl. A	GOOG	4,797	$1.2M	0.61%
40	Cisco Systems Inc.	CSCO	16,851	$1.2M	0.60%
41	HP Inc.	HPQ	42,105	$1.1M	0.60%
42	Schwab U.S. Large-Cap Value ETF	808524409	38,510	$1.1M	0.58%
43	Amgen Incorporated	AMGN	3,874	$1.1M	0.57%
44	Hewlett Packard Enterprises	HPE-PC	43,432	$1.1M	0.56%
45	Norfolk Southern Corp	655844108	3,543	$1.1M	0.55%
46	Lilly (Eli) & C.	LLY	1,306	$996,478	0.52%
47	Procter & Gamble Co.	742718109	6,378	$979,936	0.51%
48	L3Harris Technologies Inc.	LHX	3,068	$936,998	0.49%
49	QUALCOMM Inc.	QCOM	5,556	$924,326	0.48%
50	Invesco QQQ Trust	IVZ	1,503	$902,478	0.47%
51	Archer-Daniels-Midland Co	ADM	14,514	$867,066	0.45%
52	Vanguard Mid-Cap ETF	922908629	2,936	$862,342	0.45%
53	NVIDIA Corp.	NVDA	4,584	$855,362	0.45%
54	Vanguard FTSE Developed Markets ETF	921943858	13,739	$823,241	0.43%
55	Consumer Discretionery SPDR ETF	81369Y407	3,350	$802,794	0.42%
56	Illinois Tool Works	452308109	3,068	$800,012	0.42%
57	Wells Fargo	949746101	9,447	$791,848	0.41%
58	Honeywell International Inc.	438516106	3,739	$787,060	0.41%
59	Marathon Petroleum Corp.	MARA	4,058	$782,139	0.41%
60	American Express Company	AXP	2,311	$767,622	0.40%
61	Boeing Co	BA-PA	3,546	$765,321	0.40%
62	Charles Schwab Corp.	SCHW-PJ	7,708	$735,883	0.38%
63	Merck & Company Inc	MRK	8,647	$725,783	0.38%
64	Vanguard Health Care Sector ETF	92204A504	2,790	$724,284	0.38%
65	Amphenol Corp	032095101	5,831	$721,586	0.38%
66	Caterpillar Inc	CAT	1,489	$710,476	0.37%
67	Wal-Mart Stores Inc	WMT	6,705	$690,987	0.36%
68	Bristol-Myers Squibb Co	CELG-RI	14,915	$672,667	0.35%
69	Applied Materials	038222105	3,271	$669,732	0.35%
70	SPDR S&P 500 ETF	SPY	1,005	$669,336	0.35%
71	Texas Instruments, Inc.	882508104	3,643	$669,328	0.35%
72	Reliance Inc.	RS	2,364	$663,882	0.35%
73	Disney (Walt) Co	254687106	5,711	$653,909	0.34%
74	Equifax Inc.	EFX	2,548	$653,638	0.34%
75	Vanguard Small-Cap ETF	922908751	2,490	$633,048	0.33%
76	Oracle Corporation	ORCL-PD	2,241	$630,259	0.33%
77	GE Vernova Inc	GEV	1,024	$629,658	0.33%
78	iShares Core S&P Mid-Cap ETF	464287507	9,641	$629,148	0.33%
79	Viatris Inc.	VTRS	61,493	$608,781	0.32%
80	Deere & Co.	DE	1,297	$593,066	0.31%
81	iShares MSCI EAFE Small Cap Index	464288273	7,640	$586,141	0.31%
82	Constellation Energy Corp.	CEG	1,775	$584,099	0.30%
83	Vanguard Small-Cap Growth ETF	922908595	1,915	$569,942	0.30%
84	Analog Devices	ADI	2,266	$556,756	0.29%
85	Goldman Sachs	GSCE	698	$555,852	0.29%
86	iShares Russell 2000 Growth Index	464287648	1,694	$542,148	0.28%
87	Motorola Solutions Inc.	MSI	1,173	$536,401	0.28%
88	iShares MSCI EAFE Growth Index	464288885	4,619	$526,012	0.27%
89	Medtronic Inc	MDT	5,458	$519,820	0.27%
90	Automatic Data Processing	ADP	1,716	$503,646	0.26%
91	SPDR Dow Jones Industrial Avg. ETF	78467X109	1,078	$499,975	0.26%
92	CVS Health Corp.	CVS	6,489	$489,206	0.25%
93	TJX Companies	872540109	3,317	$479,439	0.25%
94	Liberty Formula One Group	FWONB	5,006	$476,671	0.25%
95	Alphabet Inc. Cl. C	GOOG	1,922	$468,103	0.24%
96	ConocoPhillips	COP	4,944	$467,653	0.24%
97	Travelers Companies	TRV	1,672	$466,856	0.24%
98	Phillips 66	PSX	3,214	$437,168	0.23%
99	NextEra Energy	NEE-PW	5,788	$436,936	0.23%
100	Vanguard Total International Stock ETF	921909768	5,818	$427,390	0.22%
101	Vanguard Small Cap Value ETF	922908611	1,998	$417,104	0.22%
102	Kellanova Company	BEKE	4,983	$408,706	0.21%
103	McKesson Corporation	MCK	523	$404,038	0.21%
104	Carrier Global Corp.	CARR	6,664	$397,841	0.21%
105	iShares Dow Jones U.S. Healthcare Sector Index	464287762	6,546	$384,354	0.20%
106	White Mountain Insurance Group Ltd.	G9618E107	229	$382,778	0.20%
107	Stryker Corp.	SYK	1,029	$380,390	0.20%
108	Agilent Technologies	A	2,881	$369,776	0.19%
109	Sysco Corp.	SYY	4,479	$368,801	0.19%
110	Keysight Technologies	KEYS	2,036	$356,137	0.19%
111	iShares MSCI Emerging Markets ex-China	46434G764	4,940	$333,499	0.17%
112	Allstate Corporation	ALL-PJ	1,522	$326,697	0.17%
113	Kemper Corporation	KMPB	6,310	$325,281	0.17%
114	Eaton Corp.	ETN	862	$322,604	0.17%
115	Constellation Brands Cl. A	STZ	2,358	$317,552	0.17%
116	Air Products & Chemicals	AIIR	1,159	$316,082	0.16%
117	Occidental Petroleum	674599105	6,622	$312,890	0.16%
118	Synchrony Financial	SYF-PB	4,402	$312,730	0.16%
119	Centerpoint Energy	CNP	7,900	$306,520	0.16%
120	Financial Select Sector SPDR ETF	81369Y605	5,655	$304,635	0.16%
121	iShares Dow Jones U.S. Financial Services Index	464287770	3,345	$299,846	0.16%
122	Comcast Corporation Class A	CCZ	9,479	$297,830	0.16%
123	Coca-Cola Company	KO	4,475	$296,753	0.15%
124	Labcorp Holdings Inc.	50540R409	1,027	$294,811	0.15%
125	Morgan Stanley	MS-PQ	1,803	$286,605	0.15%
126	Lowes Co Inc	548661107	1,138	$286,107	0.15%
127	Vanguard Industrial Sector ETF	92204A603	938	$277,920	0.14%
128	Vaneck Uranium & Nuclear Energy ETF	92189F601	2,000	$271,300	0.14%
129	Vanguard FTSE Emerging Markets ETF	922042858	5,007	$271,279	0.14%
130	Avery Dennison Corp	AVY	1,648	$267,256	0.14%
131	Trane Technologies plc	TT	633	$267,101	0.14%
132	Ishares Russell 1000 ETF	464287622	712	$260,351	0.14%
133	General Dynamics Corp.	GD	759	$258,819	0.13%
134	Vanguard FTSE All-World Ex-US Small Cap ETF	922042718	1,800	$256,590	0.13%
135	Cardinal Health Inc.	CAH	1,599	$250,979	0.13%
136	Amazon.com Inc	AMZN	1,141	$250,529	0.13%
137	Corteva Inc.	CTVA	3,697	$250,028	0.13%
138	DuPont de Nemours Inc.	DD	3,197	$249,046	0.13%
139	Dominion Energy Inc.	D	3,980	$243,457	0.13%
140	Kinder Morgan, Inc.	EP-PC	8,504	$240,748	0.13%
141	iShares Russell 2000 Value Index	464287630	1,325	$234,273	0.12%
142	Southern Company	SOMN	2,458	$232,945	0.12%
143	Bank of New YorkMellon Corp.	064058100	2,100	$228,816	0.12%
144	GE Healthcare Technologies Inc.	GEHC	3,020	$226,802	0.12%
145	IShares Russell Mid-Cap Growth ETF	464287481	1,590	$226,463	0.12%
146	Valero Energy Corp.	VLO	1,320	$224,743	0.12%
147	Global Payments Inc.	37940X102	2,702	$224,482	0.12%
148	iShares Russell Mid-Cap Index	464287499	2,299	$221,988	0.12%
149	Dow Inc.	DOW	9,387	$215,244	0.11%
150	Union Pacific Corp.	UNP	877	$207,296	0.11%
151	Hexcel Corp.	428291108	3,241	$203,211	0.11%
152	Xylem, Inc.	XYL	1,375	$202,813	0.11%
153	PG&E Corp	PCG-PX	12,310	$185,635	0.10%
154	Hanes Brands	410345102	19,394	$127,806	0.07%
155	Goodyear Tire & Rubber Co	382550101	15,610	$116,763	0.06%