# EDGAR Filing Document

**Accession Number:** 0001921093
**File Stem:** 0001921093-26-000002
**Filing Date:** 2026-5
**Character Count:** 18909
**Document Hash:** d3593c5cb2bc06dbc24aaae7a6015d85
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001921093-26-000002.hdr.sgml**: 20260512

**ACCESSION NUMBER**: 0001921093-26-000002

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260512

**DATE AS OF CHANGE**: 20260511

**EFFECTIVENESS DATE**: 20260512

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Athena Investment Management
- **CENTRAL INDEX KEY:** 0001921093

**ORGANIZATION NAME:**
- **EIN:** 953124733
- **STATE OF INCORPORATION:** CA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-22506
- **FILM NUMBER:** 26965273

**BUSINESS ADDRESS:**
- **STREET 1:** 21C ORINDA WAY #362
- **CITY:** ORINDA
- **STATE:** CA
- **ZIP:** 94563
- **BUSINESS PHONE:** 925-254-1649

**MAIL ADDRESS:**
- **STREET 1:** 21C ORINDA WAY #362
- **CITY:** ORINDA
- **STATE:** CA
- **ZIP:** 94563

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 03-31-2026

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** Athena Investment Management<br>**Address:** 21C ORINDA WAY #362<br>ORINDA, CA 94563

**Form 13F File Number:** 028-22506

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Jack Andrews<br>**Title:** President<br>**Phone:** 9252541649

**Signature, Place, and Date of Signing:**

Jack Andrews  Orinda, CA  05-11-2026<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 153

**Form 13F Information Table Value Total:** $192791787

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| Abbott Laboratories | COM | 002824100 |  | 1077727 | 10497 | SH |  | SOLE |  | 10497 | 0 | 0 |
| AbbVie Inc. | COM | 00287Y109 |  | 2466337 | 11340 | SH |  | SOLE |  | 11340 | 0 | 0 |
| Accenture Ltd. | SHS CLASS A | G1151C101 |  | 226844 | 1144 | SH |  | SOLE |  | 1144 | 0 | 0 |
| Aflac Inc | COM | 001055102 |  | 1903578 | 17351 | SH |  | SOLE |  | 17351 | 0 | 0 |
| Agilent Technologies | COM | 00846U101 |  | 328376 | 2881 | SH |  | SOLE |  | 2881 | 0 | 0 |
| Air Products  Chemicals | COM | 009158106 |  | 335516 | 1155 | SH |  | SOLE |  | 1155 | 0 | 0 |
| Allstate Corporation | COM | 020002101 |  | 315571 | 1522 | SH |  | SOLE |  | 1522 | 0 | 0 |
| Alphabet Inc. Cl. A | CAP STK CL A | 02079K305 |  | 1384026 | 4813 | SH |  | SOLE |  | 4813 | 0 | 0 |
| Alphabet Inc. Cl. C | CAP STK CL C | 02079K107 |  | 532412 | 1856 | SH |  | SOLE |  | 1856 | 0 | 0 |
| Amazon.com Inc | COM | 023135106 |  | 237636 | 1141 | SH |  | SOLE |  | 1141 | 0 | 0 |
| American Express Company | COM | 025816109 |  | 565940 | 1871 | SH |  | SOLE |  | 1871 | 0 | 0 |
| Amgen Incorporated | COM | 031162100 |  | 1366228 | 3883 | SH |  | SOLE |  | 3883 | 0 | 0 |
| Amphenol Corp | CL A | 032095101 |  | 761006 | 6023 | SH |  | SOLE |  | 6023 | 0 | 0 |
| Analog Devices | COM | 032654105 |  | 720905 | 2266 | SH |  | SOLE |  | 2266 | 0 | 0 |
| Apple Inc. | COM | 037833100 |  | 4317808 | 17013 | SH |  | SOLE |  | 17013 | 0 | 0 |
| Applied Materials | COM | 038222105 |  | 1034987 | 3028 | SH |  | SOLE |  | 3028 | 0 | 0 |
| Archer-Daniels-Midland Co | COM | 039483102 |  | 993672 | 13670 | SH |  | SOLE |  | 13670 | 0 | 0 |
| AT Inc. | COM | 001957109 |  | 1286315 | 44371 | SH |  | SOLE |  | 44371 | 0 | 0 |
| Automatic Data Processing | COM | 053015103 |  | 348657 | 1716 | SH |  | SOLE |  | 1716 | 0 | 0 |
| Avery Dennison Corp | COM | 053611109 |  | 284577 | 1648 | SH |  | SOLE |  | 1648 | 0 | 0 |
| Bank of America Corp | COM | 06605F102 |  | 1434190 | 29419 | SH |  | SOLE |  | 29419 | 0 | 0 |
| Bank of New York Mellon Corp. | COM | 064058100 |  | 249123 | 2100 | SH |  | SOLE |  | 2100 | 0 | 0 |
| Berkshire Hathaway Cl. B | CL B NEW | 084670702 |  | 1211418 | 2528 | SH |  | SOLE |  | 2528 | 0 | 0 |
| Boeing Co | COM | 097023105 |  | 717691 | 3606 | SH |  | SOLE |  | 3606 | 0 | 0 |
| Bristol-Myers Squibb Co | COM | 110122108 |  | 916725 | 15115 | SH |  | SOLE |  | 15115 | 0 | 0 |
| Broadcom Inc. | COM | 11135F101 |  | 2100644 | 6787 | SH |  | SOLE |  | 6787 | 0 | 0 |
| Cardinal Health Inc. | COM | 14149Y108 |  | 216593 | 1025 | SH |  | SOLE |  | 1025 | 0 | 0 |
| Carrier Global Corp. | COM | 14448C104 |  | 375250 | 6664 | SH |  | SOLE |  | 6664 | 0 | 0 |
| Caterpillar Inc | COM | 149123101 |  | 911788 | 1287 | SH |  | SOLE |  | 1287 | 0 | 0 |
| Centerpoint Energy | COM | 15189T107 |  | 340964 | 7900 | SH |  | SOLE |  | 7900 | 0 | 0 |
| Charles Schwab Corp. | COM | 808513105 |  | 724398 | 7708 | SH |  | SOLE |  | 7708 | 0 | 0 |
| Chevron Corporation | COM | 166764100 |  | 2152381 | 10403 | SH |  | SOLE |  | 10403 | 0 | 0 |
| Cisco Systems Inc. | COM | 17275R102 |  | 1289391 | 16618 | SH |  | SOLE |  | 16618 | 0 | 0 |
| Coca-Cola Company | COM | 191216100 |  | 340290 | 4475 | SH |  | SOLE |  | 4475 | 0 | 0 |
| Comcast Corporation Class A | CL A | 20030N101 |  | 263529 | 9179 | SH |  | SOLE |  | 9179 | 0 | 0 |
| ConocoPhillips | COM | 20825C104 |  | 643368 | 4874 | SH |  | SOLE |  | 4874 | 0 | 0 |
| Constellation Brands Cl. A | COM | 21036P108 |  | 353700 | 2358 | SH |  | SOLE |  | 2358 | 0 | 0 |
| Constellation Energy Corp. | COM | 21037T109 |  | 482823 | 1729 | SH |  | SOLE |  | 1729 | 0 | 0 |
| Consumer Discretionery SPDR ETF | SBI CONS DISCR | 81369Y407 |  | 730166 | 6700 | SH |  | SOLE |  | 6700 | 0 | 0 |
| Corteva Inc. | COM | 22052L104 |  | 309476 | 3697 | SH |  | SOLE |  | 3697 | 0 | 0 |
| CVS Health Corp. | COM | 126650100 |  | 465322 | 6479 | SH |  | SOLE |  | 6479 | 0 | 0 |
| Deere  Co. | COM | 244199105 |  | 708631 | 1258 | SH |  | SOLE |  | 1258 | 0 | 0 |
| Disney (Walt) Co | COM | 254687106 |  | 565364 | 5866 | SH |  | SOLE |  | 5866 | 0 | 0 |
| Dominion Energy Inc. | COM | 25746U109 |  | 246044 | 3980 | SH |  | SOLE |  | 3980 | 0 | 0 |
| Dow Inc. | COM | 260557103 |  | 390261 | 9370 | SH |  | SOLE |  | 9370 | 0 | 0 |
| Equifax Inc. | COM | 294429105 |  | 469623 | 2608 | SH |  | SOLE |  | 2608 | 0 | 0 |
| Exxon Mobil Corporation | COM | 30231G102 |  | 2069513 | 12198 | SH |  | SOLE |  | 12198 | 0 | 0 |
| Financial Select Sector SPDR ETF | FINANCIAL | 81369Y605 |  | 274991 | 5570 | SH |  | SOLE |  | 5570 | 0 | 0 |
| GE Aerospace | COM NEW | 369604103 |  | 2366358 | 8339 | SH |  | SOLE |  | 8339 | 0 | 0 |
| GE Healthcare Technologies Inc. | COMMON STOCK | 36266G107 |  | 214892 | 3019 | SH |  | SOLE |  | 3019 | 0 | 0 |
| GE Vernova Inc | COM | 36828A101 |  | 655548 | 751 | SH |  | SOLE |  | 751 | 0 | 0 |
| General Dynamics Corp. | COM | 369550108 |  | 260504 | 759 | SH |  | SOLE |  | 759 | 0 | 0 |
| Gilead Sciences Inc. | COM | 375558103 |  | 243758 | 1749 | SH |  | SOLE |  | 1749 | 0 | 0 |
| Goldman Sachs | COM | 38141G104 |  | 537204 | 635 | SH |  | SOLE |  | 635 | 0 | 0 |
| Goodyear Tire  Rubber Co | COM | 382550101 |  | 103494 | 15610 | SH |  | SOLE |  | 15610 | 0 | 0 |
| Hewlett Packard Enterprises | COM | 42824C109 |  | 1034116 | 43432 | SH |  | SOLE |  | 43432 | 0 | 0 |
| Hexcel Corp. | COM | 428291108 |  | 242143 | 2992 | SH |  | SOLE |  | 2992 | 0 | 0 |
| Home Depot | COM | 437076102 |  | 1967312 | 5982 | SH |  | SOLE |  | 5982 | 0 | 0 |
| Honeywell International Inc. | COM | 438516106 |  | 880839 | 3897 | SH |  | SOLE |  | 3897 | 0 | 0 |
| HP Inc. | COM | 40434L105 |  | 808837 | 42105 | SH |  | SOLE |  | 42105 | 0 | 0 |
| Illinois Tool Works | COM | 452308109 |  | 638491 | 2453 | SH |  | SOLE |  | 2453 | 0 | 0 |
| Intel Corp | COM | 458140100 |  | 1979892 | 44865 | SH |  | SOLE |  | 44865 | 0 | 0 |
| International Business Machines | COM | 459200101 |  | 1559780 | 6435 | SH |  | SOLE |  | 6435 | 0 | 0 |
| International Flavors and Fragrances | COM | 459506101 |  | 230491 | 3177 | SH |  | SOLE |  | 3177 | 0 | 0 |
| Invesco QQQ Trust | UNIT SER 1 | 46090E103 |  | 860692 | 1491 | SH |  | SOLE |  | 1491 | 0 | 0 |
| iShares Core S Mid-Cap ETF | CORE S MCP ETF | 464287507 |  | 633947 | 9388 | SH |  | SOLE |  | 9388 | 0 | 0 |
| iShares MSCI EAFE Growth Index | EAFE GRWTH ETF | 464288885 |  | 514418 | 4619 | SH |  | SOLE |  | 4619 | 0 | 0 |
| IShares MSCI EAFE Index | MSCI EAFE ETF | 464287465 |  | 2027045 | 20869 | SH |  | SOLE |  | 20869 | 0 | 0 |
| iShares MSCI EAFE Small Cap Index | EAFE SML CP ETF | 464288273 |  | 578666 | 7380 | SH |  | SOLE |  | 7380 | 0 | 0 |
| iShares MSCI EAFE Value Index | EAFE VALUE ETF | 464288877 |  | 272344 | 3663 | SH |  | SOLE |  | 3663 | 0 | 0 |
| iShares MSCI Emerging Markets ex-China | MSCI EMRG CHN | 46434G764 |  | 388580 | 4940 | SH |  | SOLE |  | 4940 | 0 | 0 |
| Ishares Russell 1000 ETF | RUS 1000 ETF | 464287622 |  | 253997 | 712 | SH |  | SOLE |  | 712 | 0 | 0 |
| iShares Russell 2000 Growth Index | RUS 2000 GRW ETF | 464287648 |  | 531594 | 1694 | SH |  | SOLE |  | 1694 | 0 | 0 |
| iShares Russell 2000 Index | RUSSELL 2000 ETF | 464287655 |  | 2388001 | 9629 | SH |  | SOLE |  | 9629 | 0 | 0 |
| iShares Russell 2000 Value Index | RUS 2000 VAL ETF | 464287630 |  | 251207 | 1325 | SH |  | SOLE |  | 1325 | 0 | 0 |
| IShares Russell Mid-Cap Growth ETF | RUS MD CP GR ETF | 464287481 |  | 203739 | 1590 | SH |  | SOLE |  | 1590 | 0 | 0 |
| iShares Russell Mid-Cap Index | RUS MID CAP ETF | 464287499 |  | 223551 | 2299 | SH |  | SOLE |  | 2299 | 0 | 0 |
| iShares S 500 Index | CORE S ETF | 464287200 |  | 1506955 | 2307 | SH |  | SOLE |  | 2307 | 0 | 0 |
| iShares U.S. Financial Services ETF | U.S. FIN SVC ETF | 464287770 |  | 277100 | 3345 | SH |  | SOLE |  | 3345 | 0 | 0 |
| iShares U.S. Healthcare ETF | US HLTHCARE ETF | 464287762 |  | 403467 | 6546 | SH |  | SOLE |  | 6546 | 0 | 0 |
| Johnson  Johnson | COM | 478160104 |  | 1999510 | 8180 | SH |  | SOLE |  | 8180 | 0 | 0 |
| JP Morgan Chase  Co. | COM | 46625H100 |  | 7140440 | 24274 | SH |  | SOLE |  | 24274 | 0 | 0 |
| Keysight Technologies | COM | 49338L103 |  | 572929 | 2029 | SH |  | SOLE |  | 2029 | 0 | 0 |
| Kimberly-Clark Corp | COM | 494368103 |  | 966497 | 10019 | SH |  | SOLE |  | 10019 | 0 | 0 |
| Kinder Morgan Inc. | COM | 49456B101 |  | 253990 | 7575 | SH |  | SOLE |  | 7575 | 0 | 0 |
| L3Harris Technologies Inc. | COM | 502431109 |  | 1047875 | 3036 | SH |  | SOLE |  | 3036 | 0 | 0 |
| Labcorp Holdings Inc. | COM SHS | 50540R409 |  | 274014 | 1027 | SH |  | SOLE |  | 1027 | 0 | 0 |
| Liberty Formula One Group | COM SER A FRMLA | 531229870 |  | 388058 | 4970 | SH |  | SOLE |  | 4970 | 0 | 0 |
| Lilly (Eli)  C. | COM | 532457108 |  | 1178225 | 1281 | SH |  | SOLE |  | 1281 | 0 | 0 |
| Lowes Co Inc | COM | 548661107 |  | 268996 | 1138 | SH |  | SOLE |  | 1138 | 0 | 0 |
| Marathon Petroleum Corp. | COM | 56585A102 |  | 844863 | 3460 | SH |  | SOLE |  | 3460 | 0 | 0 |
| McDonalds Corp | COM | 580135101 |  | 1236944 | 3980 | SH |  | SOLE |  | 3980 | 0 | 0 |
| Medtronic Inc | COM | 585055106 |  | 472936 | 5458 | SH |  | SOLE |  | 5458 | 0 | 0 |
| Merck  Company Inc | COM | 58933Y105 |  | 1055842 | 8777 | SH |  | SOLE |  | 8777 | 0 | 0 |
| Microsoft Corp | COM | 594918104 |  | 5154247 | 13924 | SH |  | SOLE |  | 13924 | 0 | 0 |
| Morgan Stanley | COM NEW | 617446448 |  | 296720 | 1803 | SH |  | SOLE |  | 1803 | 0 | 0 |
| Motorola Solutions Inc. | COM | 620076307 |  | 509047 | 1173 | SH |  | SOLE |  | 1173 | 0 | 0 |
| NextEra Energy | COM | 65339F101 |  | 530623 | 5713 | SH |  | SOLE |  | 5713 | 0 | 0 |
| Norfolk Southern Corp | COM | 655844108 |  | 1016841 | 3543 | SH |  | SOLE |  | 3543 | 0 | 0 |
| Northrop Grumman Corp | COM | 666807102 |  | 1841366 | 2699 | SH |  | SOLE |  | 2699 | 0 | 0 |
| NVIDIA Corp. | COM | 67066G104 |  | 795164 | 4559 | SH |  | SOLE |  | 4559 | 0 | 0 |
| Occidental Petroleum | COM | 674599105 |  | 219245 | 3373 | SH |  | SOLE |  | 3373 | 0 | 0 |
| Oracle Corporation | COM | 68389X105 |  | 329674 | 2241 | SH |  | SOLE |  | 2241 | 0 | 0 |
| Pepsico Inc. | COM | 713448108 |  | 2234107 | 14387 | SH |  | SOLE |  | 14387 | 0 | 0 |
| Pfizer Inc. | COM | 717081103 |  | 1468636 | 52302 | SH |  | SOLE |  | 52302 | 0 | 0 |
| PG Corp | COM | 69331C108 |  | 216287 | 12310 | SH |  | SOLE |  | 12310 | 0 | 0 |
| Phillips 66 | COM | 718546104 |  | 492797 | 2705 | SH |  | SOLE |  | 2705 | 0 | 0 |
| Procter  Gamble Co. | COM | 742718109 |  | 921197 | 6378 | SH |  | SOLE |  | 6378 | 0 | 0 |
| QUALCOMM Inc. | COM | 747525103 |  | 722479 | 5610 | SH |  | SOLE |  | 5610 | 0 | 0 |
| Reliance Inc. | COM | 759509102 |  | 712388 | 2344 | SH |  | SOLE |  | 2344 | 0 | 0 |
| RTX Corp. | COM | 75513E101 |  | 2943847 | 15261 | SH |  | SOLE |  | 15261 | 0 | 0 |
| Schwab Emerging Markets Equity ETF | EMRG MKTEQ ETF | 808524706 |  | 1534284 | 46564 | SH |  | SOLE |  | 46564 | 0 | 0 |
| Schwab International Equity ETF | INTL EQTY ETF | 808524805 |  | 9271573 | 374609 | SH |  | SOLE |  | 374609 | 0 | 0 |
| Schwab U.S. Large-Cap ETF | US LRG CAP ETF | 808524201 |  | 33506916 | 1306822 | SH |  | SOLE |  | 1306822 | 0 | 0 |
| Schwab U.S. Large-Cap Growth ETF | US LCAP GR ETF | 808524300 |  | 3767558 | 129336 | SH |  | SOLE |  | 129336 | 0 | 0 |
| Schwab U.S. Large-Cap Value ETF | US LCAP VA ETF | 808524409 |  | 1174555 | 38510 | SH |  | SOLE |  | 38510 | 0 | 0 |
| Schwab U.S. Mid-Cap ETF | US MID-CAP ETF | 808524508 |  | 2592714 | 83744 | SH |  | SOLE |  | 83744 | 0 | 0 |
| Schwab U.S. Small-Cap ETF | US SML CAP ETF | 808524607 |  | 8678752 | 298444 | SH |  | SOLE |  | 298444 | 0 | 0 |
| Southern Company | COM | 842587107 |  | 237246 | 2458 | SH |  | SOLE |  | 2458 | 0 | 0 |
| SPDR Dow Jones Industrial Avg. ETF | UT SER 1 | 78467X109 |  | 499382 | 1078 | SH |  | SOLE |  | 1078 | 0 | 0 |
| SPDR S 500 ETF | TR UNIT | 78462F103 |  | 653421 | 1005 | SH |  | SOLE |  | 1005 | 0 | 0 |
| Stryker Corp. | COM | 863667101 |  | 338119 | 1029 | SH |  | SOLE |  | 1029 | 0 | 0 |
| Synchrony Financial | COM | 87165B103 |  | 381457 | 5608 | SH |  | SOLE |  | 5608 | 0 | 0 |
| Sysco Corp. | COM | 871829107 |  | 319487 | 4479 | SH |  | SOLE |  | 4479 | 0 | 0 |
| Technology Select Sector SPDR ETF | TECHNOLOGY | 81369Y803 |  | 1198758 | 9020 | SH |  | SOLE |  | 9020 | 0 | 0 |
| Texas Instruments Inc. | COM | 882508104 |  | 707252 | 3643 | SH |  | SOLE |  | 3643 | 0 | 0 |
| TJX Companies | COM | 872540109 |  | 355652 | 2227 | SH |  | SOLE |  | 2227 | 0 | 0 |
| Trane Technologies plc | SHS | G8994E103 |  | 263796 | 633 | SH |  | SOLE |  | 633 | 0 | 0 |
| Travelers Companies | COM | 89417E109 |  | 394351 | 1352 | SH |  | SOLE |  | 1352 | 0 | 0 |
| Union Pacific Corp. | COM | 907818108 |  | 211807 | 873 | SH |  | SOLE |  | 873 | 0 | 0 |
| UnitedHealth Group Inc. | COM | 910581107 |  | 3342732 | 12353 | SH |  | SOLE |  | 12353 | 0 | 0 |
| Valero Energy Corp. | COM | 91913Y100 |  | 261411 | 1058 | SH |  | SOLE |  | 1058 | 0 | 0 |
| Vaneck Uranium  Nuclear Energy ETF | URANIUM AND NUCL | 92189F601 |  | 266380 | 2000 | SH |  | SOLE |  | 2000 | 0 | 0 |
| Vanguard Energy Sector ETF | ENERGY ETF | 92204A306 |  | 1841492 | 10642 | SH |  | SOLE |  | 10642 | 0 | 0 |
| Vanguard FTSE All-World Ex-US Small Cap ETF | FTSE SMCAP ETF | 922042718 |  | 262422 | 1800 | SH |  | SOLE |  | 1800 | 0 | 0 |
| Vanguard FTSE Developed Markets ETF | VAN FTSE DEV MKT | 921943858 |  | 1658262 | 25878 | SH |  | SOLE |  | 25878 | 0 | 0 |
| Vanguard FTSE Emerging Markets ETF | FTSE EMR MKT ETF | 922042858 |  | 519637 | 9614 | SH |  | SOLE |  | 9614 | 0 | 0 |
| Vanguard Growth ETF | GROWTH ETF | 922908736 |  | 1678549 | 3843 | SH |  | SOLE |  | 3843 | 0 | 0 |
| Vanguard Health Care Sector ETF | HEALTH CAR ETF | 92204A504 |  | 763341 | 2803 | SH |  | SOLE |  | 2803 | 0 | 0 |
| Vanguard Industrial Sector ETF | INDUSTRIAL ETF | 92204A603 |  | 285057 | 913 | SH |  | SOLE |  | 913 | 0 | 0 |
| Vanguard Large Cap ETF | LARGE CAP ETF | 922908637 |  | 2708478 | 9063 | SH |  | SOLE |  | 9063 | 0 | 0 |
| Vanguard Mid-Cap ETF | MID CAP ETF | 922908629 |  | 946181 | 3295 | SH |  | SOLE |  | 3295 | 0 | 0 |
| Vanguard Small Cap Value ETF | SM CP VAL ETF | 922908611 |  | 434171 | 1998 | SH |  | SOLE |  | 1998 | 0 | 0 |
| Vanguard Small-Cap ETF | SMALL CP ETF | 922908751 |  | 937823 | 3581 | SH |  | SOLE |  | 3581 | 0 | 0 |
| Vanguard Small-Cap Growth ETF | SML CP GRW ETF | 922908595 |  | 438263 | 1450 | SH |  | SOLE |  | 1450 | 0 | 0 |
| Vanguard Total International Stock ETF | VG TL INTL STK F | 921909768 |  | 695378 | 9018 | SH |  | SOLE |  | 9018 | 0 | 0 |
| Vanguard Total Stock Market ETF | TOTAL STK MKT | 922908769 |  | 204356 | 637 | SH |  | SOLE |  | 637 | 0 | 0 |
| Verizon Communications | COM | 92343V104 |  | 1339135 | 26676 | SH |  | SOLE |  | 26676 | 0 | 0 |
| Viatris Inc. | COM | 92556V106 |  | 974530 | 72134 | SH |  | SOLE |  | 72134 | 0 | 0 |
| Wal-Mart Stores Inc | COM | 931142103 |  | 1040063 | 8369 | SH |  | SOLE |  | 8369 | 0 | 0 |
| Warner Bros. Discovery Inc. | COM SER A | 934423104 |  | 261364 | 9518 | SH |  | SOLE |  | 9518 | 0 | 0 |
| Wells Fargo | COM | 949746101 |  | 767042 | 9635 | SH |  | SOLE |  | 9635 | 0 | 0 |
| White Mountain Insurance Group Ltd. | COM | G9618E107 |  | 492119 | 224 | SH |  | SOLE |  | 224 | 0 | 0 |

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