Athena Investment Management 13F-HR Quarterly holdings report by institutional manager

The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE

OMB APPROVAL

OMB Number:		3235-0006
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COLUMN 1	COLUMN 2	COLUMN 3	COLUMN 4	COLUMN 5			COLUMN 6	COLUMN 7	COLUMN 8
			VALUE	SHRS OR	SH/	PUT/	INVESTMENT	OTHER	VOTING AUTHORITY
NAME OF ISSUER	TITLE OF CLASS	CUSIP	(x$1000)	PRN AMT	PRN	CALL	DISCRETION	MANAGER	SOLE	SHARED	NONE
Abbott Laboratories	COM	002824100	1,113,657	10,998	SH		SOLE		10,998	0	0
AbbVie Inc.	COM	00287Y109	1,830,205	11,484	SH		SOLE		11,484	0	0
Accenture Ltd.	SHS CLASS A	G1151C101	347,259	1,215	SH		SOLE		1,215	0	0
Aflac Inc	COM	001055102	1,315,627	20,391	SH		SOLE		20,391	0	0
Agilent Technologies	COM	00846U101	359,822	2,601	SH		SOLE		2,601	0	0
Air Products & Chemicals	COM	009158106	345,226	1,202	SH		SOLE		1,202	0	0
Allstate Corporation	COM	020002101	223,393	2,016	SH		SOLE		2,016	0	0
Alphabet Inc. Cl. A	CAP STK CL A	02079K305	405,169	3,906	SH		SOLE		3,906	0	0
Alphabet Inc. Cl. C	CAP STK CL C	02079K107	232,232	2,233	SH		SOLE		2,233	0	0
American Express Company	COM	025816109	464,334	2,815	SH		SOLE		2,815	0	0
Amgen Incorporated	COM	031162100	890,603	3,684	SH		SOLE		3,684	0	0
Amphenol Corp	CL A	032095101	277,848	3,400	SH		SOLE		3,400	0	0
Analog Devices	COM	032654105	420,670	2,133	SH		SOLE		2,133	0	0
Apple Inc.	COM	037833100	3,167,285	19,207	SH		SOLE		19,207	0	0
Applied Materials	COM	038222105	351,679	2,863	SH		SOLE		2,863	0	0
Archer-Daniels-Midland Co	COM	039483102	1,094,210	13,736	SH		SOLE		13,736	0	0
AT&T Inc.	COM	001957109	825,440	42,880	SH		SOLE		42,880	0	0
Automatic Data Processing	COM	053015103	421,661	1,894	SH		SOLE		1,894	0	0
Avery Dennison Corp	COM	053611109	362,691	2,027	SH		SOLE		2,027	0	0
Bank of America Corp	COM	06605F102	876,455	30,645	SH		SOLE		30,645	0	0
Berkshire Hathaway Cl. B	CL B NEW	084670702	1,039,140	3,365	SH		SOLE		3,365	0	0
Boeing Co	COM	097023105	775,995	3,653	SH		SOLE		3,653	0	0
Bristol-Myers Squibb Co	COM	110122108	1,161,913	16,764	SH		SOLE		16,764	0	0
Broadcom Inc.	COM	11135F101	338,733	528	SH		SOLE		528	0	0
Cardinal Health Inc.	COM	14149Y108	201,661	2,671	SH		SOLE		2,671	0	0
Carrier Global Corp.	COM	14448C104	307,349	6,718	SH		SOLE		6,718	0	0
Caterpillar Inc	COM	149123101	533,884	2,333	SH		SOLE		2,333	0	0
Centerpoint Energy	COM	15189T107	256,361	8,702	SH		SOLE		8,702	0	0
Charles Schwab Corp.	COM	808513105	390,650	7,458	SH		SOLE		7,458	0	0
Chevron Corporation	COM	166764100	1,846,155	11,315	SH		SOLE		11,315	0	0
Cisco Systems Inc.	COM	17275R102	818,261	15,653	SH		SOLE		15,653	0	0
Coca-Cola Company	COM	191216100	282,829	4,560	SH		SOLE		4,560	0	0
Comcast Corporation Class A	CL A	20030N101	379,290	10,005	SH		SOLE		10,005	0	0
ConocoPhillips	COM	20825C104	536,825	5,411	SH		SOLE		5,411	0	0
Constellation Brands Cl. A	COM	21036P108	533,552	2,362	SH		SOLE		2,362	0	0
Consumer Discretionery SPDR ETF	SBI CONS DISCR	81369Y407	500,959	3,350	SH		SOLE		3,350	0	0
Corteva Inc.	COM	22052L104	225,680	3,742	SH		SOLE		3,742	0	0
CVS Health Corp.	COM	126650100	486,210	6,543	SH		SOLE		6,543	0	0
Deere & Co.	COM	244199105	517,339	1,253	SH		SOLE		1,253	0	0
Disney (Walt) Co	COM	254687106	574,645	5,739	SH		SOLE		5,739	0	0
Dominion Energy Inc.	COM	25746U109	252,322	4,513	SH		SOLE		4,513	0	0
Dow Inc.	COM	260557103	311,542	5,683	SH		SOLE		5,683	0	0
DuPont de Nemours Inc.	COM	26614N102	231,674	3,228	SH		SOLE		3,228	0	0
Eaton Corp.	SHS	G29183103	234,393	1,368	SH		SOLE		1,368	0	0
Equifax Inc.	COM	294429105	534,078	2,633	SH		SOLE		2,633	0	0
Exxon Mobil Corporation	COM	30231G102	1,339,168	12,212	SH		SOLE		12,212	0	0
GE Healthcare Technologies Inc.	COMMON STOCK	36266G107	248,715	3,032	SH		SOLE		3,032	0	0
General Dynamics Corp.	COM	369550108	205,845	902	SH		SOLE		902	0	0
General Electric Company	COM	369604103	886,977	9,278	SH		SOLE		9,278	0	0
Global Payments Inc.	COM	37940X102	284,358	2,702	SH		SOLE		2,702	0	0
Goldman Sachs	COM	38141G104	488,048	1,492	SH		SOLE		1,492	0	0
Goodyear Tire & Rubber Co	COM	382550101	183,792	16,678	SH		SOLE		16,678	0	0
Hanes Brands	COM	410345102	102,012	19,394	SH		SOLE		19,394	0	0
Hewlett Packard Enterprises	COM	42824C109	718,204	45,085	SH		SOLE		45,085	0	0
Hexcel Corp.	COM	428291108	250,273	3,667	SH		SOLE		3,667	0	0
Home Depot	COM	437076102	2,100,272	7,117	SH		SOLE		7,117	0	0
Honeywell International Inc.	COM	438516106	715,362	3,743	SH		SOLE		3,743	0	0
HP Inc.	COM	40434L105	1,286,645	43,838	SH		SOLE		43,838	0	0
Illinois Tool Works	COM	452308109	851,832	3,499	SH		SOLE		3,499	0	0
Intel Corp	COM	458140100	1,690,758	51,753	SH		SOLE		51,753	0	0
International Business Machines	COM	459200101	980,815	7,482	SH		SOLE		7,482	0	0
International Flavors and Fragrances	COM	459506101	282,961	3,077	SH		SOLE		3,077	0	0
Invesco QQQ Trust	UNIT SER 1	46090E103	524,548	1,634	SH		SOLE		1,634	0	0
iShares Core S&P Mid-Cap ETF	CORE S&P MCP ETF	464287507	482,968	1,931	SH		SOLE		1,931	0	0
iShares Dow Jones U.S. Healthcare Sector Index	US HLTHCARE ETF	464287762	357,584	1,310	SH		SOLE		1,310	0	0
iShares MSCI EAFE Growth Index	EAFE GRWTH ETF	464288885	406,290	4,337	SH		SOLE		4,337	0	0
IShares MSCI EAFE Index	MSCI EAFE ETF	464287465	1,494,225	20,892	SH		SOLE		20,892	0	0
iShares MSCI EAFE Small Cap Index	EAFE SML CP ETF	464288273	414,487	6,965	SH		SOLE		6,965	0	0
iShares MSCI Emerging Markets ex-China	MSCI EMRG CHN	46434G764	237,129	4,807	SH		SOLE		4,807	0	0
iShares Russell 2000 Growth Index	RUS 2000 GRW ETF	464287648	384,233	1,694	SH		SOLE		1,694	0	0
iShares Russell 2000 Index	RUSSELL 2000 ETF	464287655	1,719,426	9,638	SH		SOLE		9,638	0	0
iShares S&P 500 Index	CORE S&P500 ETF	464287200	1,000,569	2,434	SH		SOLE		2,434	0	0
Johnson & Johnson	COM	478160104	1,429,404	9,222	SH		SOLE		9,222	0	0
JP Morgan Chase & Co.	COM	46625H100	3,700,934	28,401	SH		SOLE		28,401	0	0
Kellogg Company	COM	487836108	385,087	5,751	SH		SOLE		5,751	0	0
Kemper Corporation	COM	488401100	383,167	7,010	SH		SOLE		7,010	0	0
Keysight Technologies	COM	49338L103	292,602	1,812	SH		SOLE		1,812	0	0
Kimberly-Clark Corp	COM	494368103	1,355,841	10,102	SH		SOLE		10,102	0	0
L3Harris Technologies Inc.	COM	502431109	602,064	3,068	SH		SOLE		3,068	0	0
Liberty Formula One Group	COM SER A FRMLA	531229870	370,643	5,491	SH		SOLE		5,491	0	0
Lilly (Eli) & C.	COM	532457108	536,765	1,563	SH		SOLE		1,563	0	0
Lowes Co Inc	COM	548661107	237,657	1,188	SH		SOLE		1,188	0	0
Marathon Petroleum Corp.	COM	56585A102	683,049	5,066	SH		SOLE		5,066	0	0
McDonalds Corp	COM	580135101	1,297,111	4,639	SH		SOLE		4,639	0	0
McKesson Corporation	COM	58155Q103	517,341	1,453	SH		SOLE		1,453	0	0
Medtronic Inc	COM	585055106	442,443	5,488	SH		SOLE		5,488	0	0
Merck & Company Inc	COM	58933Y105	926,388	8,707	SH		SOLE		8,707	0	0
Microsoft Corp	COM	594918104	4,627,503	16,051	SH		SOLE		16,051	0	0
Motorola Solutions Inc.	COM	620076307	351,654	1,229	SH		SOLE		1,229	0	0
NextEra Energy	COM	65339F101	409,526	5,313	SH		SOLE		5,313	0	0
Norfolk Southern Corp	COM	655844108	885,948	4,179	SH		SOLE		4,179	0	0
Northrop Grumman Corp	COM	666807102	1,242,027	2,690	SH		SOLE		2,690	0	0
Occidental Petroleum	COM	674599105	415,035	6,648	SH		SOLE		6,648	0	0
Oracle Corporation	COM	68389X105	264,636	2,848	SH		SOLE		2,848	0	0
Pepsico Inc.	COM	713448108	3,054,924	16,758	SH		SOLE		16,758	0	0
Pfizer Inc.	COM	717081103	2,014,943	49,386	SH		SOLE		49,386	0	0
PG&E Corp	COM	69331C108	207,607	12,839	SH		SOLE		12,839	0	0
Phillips 66	COM	718546104	355,742	3,509	SH		SOLE		3,509	0	0
Procter & Gamble Co.	COM	742718109	1,457,120	9,800	SH		SOLE		9,800	0	0
QUALCOMM Inc.	COM	747525103	746,366	5,850	SH		SOLE		5,850	0	0
Raytheon Technologies Corp.	COM	75513E101	1,316,865	13,447	SH		SOLE		13,447	0	0
Reliance Steel & &Aluminum Co.	COM	759509102	677,794	2,640	SH		SOLE		2,640	0	0
Schwab Emerging Markets Equity ETF	EMRG MKTEQ ETF	808524706	894,514	36,481	SH		SOLE		36,481	0	0
Schwab International Equity ETF	INTL EQTY ETF	808524805	6,498,865	186,749	SH		SOLE		186,749	0	0
Schwab U.S. Large-Cap ETF	US LRG CAP ETF	808524201	23,059,817	476,738	SH		SOLE		476,738	0	0
Schwab U.S. Large-Cap Growth ETF	US LCAP GR ETF	808524300	1,891,624	29,026	SH		SOLE		29,026	0	0
Schwab U.S. Large-Cap Value ETF	US LCAP VA ETF	808524409	708,264	10,800	SH		SOLE		10,800	0	0
Schwab U.S. Mid-Cap ETF	US MID-CAP ETF	808524508	1,558,854	22,975	SH		SOLE		22,975	0	0
Schwab U.S. Small-Cap ETF	US SML CAP ETF	808524607	6,562,171	156,503	SH		SOLE		156,503	0	0
Southern Company	COM	842587107	254,872	3,663	SH		SOLE		3,663	0	0
SPDR Dow Jones Industrial Avg. ETF	UT SER 1	78467X109	376,904	1,133	SH		SOLE		1,133	0	0
SPDR S&P 500 ETF	TR UNIT	78462F103	411,739	1,006	SH		SOLE		1,006	0	0
Stryker Corp.	COM	863667101	396,803	1,390	SH		SOLE		1,390	0	0
Sysco Corp.	COM	871829107	232,076	3,005	SH		SOLE		3,005	0	0
Technology Select Sector SPDR ETF	TECHNOLOGY	81369Y803	681,055	4,510	SH		SOLE		4,510	0	0
Texas Instruments, Inc.	COM	882508104	817,886	4,397	SH		SOLE		4,397	0	0
TJX Companies	COM	872540109	396,031	5,054	SH		SOLE		5,054	0	0
Travelers Companies	COM	89417E109	320,194	1,868	SH		SOLE		1,868	0	0
Union Pacific Corp.	COM	907818108	270,091	1,342	SH		SOLE		1,342	0	0
UnitedHealth Group Inc.	COM	910581107	6,499,765	13,753	SH		SOLE		13,753	0	0
Valero Energy Corp.	COM	91913Y100	227,129	1,627	SH		SOLE		1,627	0	0
Vanguard Energy Sector ETF	ENERGY ETF	92204A306	1,199,872	10,504	SH		SOLE		10,504	0	0
Vanguard FTSE All-World Ex-US Small Cap ETF	FTSE SMCAP ETF	922042718	207,556	1,900	SH		SOLE		1,900	0	0
Vanguard FTSE Developed Markets ETF	VAN FTSE DEV MKT	921943858	257,469	5,700	SH		SOLE		5,700	0	0
Vanguard Growth ETF	GROWTH ETF	922908736	532,285	2,134	SH		SOLE		2,134	0	0
Vanguard Health Care Sector ETF	HEALTH CAR ETF	92204A504	414,443	1,738	SH		SOLE		1,738	0	0
Vanguard Large Cap ETF	LARGE CAP ETF	922908637	511,859	2,740	SH		SOLE		2,740	0	0
Vanguard Mid-Cap ETF	MID CAP ETF	922908629	387,825	1,839	SH		SOLE		1,839	0	0
Vanguard Small Cap Value ETF	SM CP VAL ETF	922908611	317,280	1,998	SH		SOLE		1,998	0	0
Vanguard Small-Cap Growth ETF	SML CP GRW ETF	922908595	444,723	2,055	SH		SOLE		2,055	0	0
Verizon Communications	COM	92343V104	1,022,885	26,302	SH		SOLE		26,302	0	0
Viatris Inc.	COM	92556V106	410,562	42,678	SH		SOLE		42,678	0	0
Walgreens Boots Alliance, Inc.	COM	931427108	303,820	8,786	SH		SOLE		8,786	0	0
Wal-Mart Stores Inc	COM	931142103	584,969	3,967	SH		SOLE		3,967	0	0
Wells Fargo	COM	949746101	383,780	10,267	SH		SOLE		10,267	0	0
Weyerhaeuser Corp.	COM NEW	962166104	256,858	8,525	SH		SOLE		8,525	0	0
White Mountain Insurance Group Ltd.	COM	G9618E107	322,333	234	SH		SOLE		234	0	0