Delta Investment Management, LLC

On the equity side, large-cap growth was the primary source of reduction. Apple was cut 12.7% to $15.1M, Alphabet Class A fell 18.1% to $9.9M, Amazon lost 10.2% to $11.4M, and Tesla was reduced 41.3% to $2.8M—nearly wiping out what had been a meaningful position. Microsoft gained 4.7% in share count but still lost $5.3M in market value, while Nvidia edged up 3.5%. The firm also sold Eli Lilly and various smaller thematic and factor ETFs, including ACIO, FDG, SBIO, and the Pacer COWG fund.

New and increased sleeves tilted toward value, income, and real-asset exposure. Enterprise Products Partners led the increases at +$1.8M, Chevron added $1.1M, and the advisor initiated positions in Roper Technologies, SAP, Caterpillar, and the energy-select XLE ETF. Within bonds and rates, the firm added to iShares' GOVT and SPDR's BIL Treasury ETFs and boosted PIMCO's PYLD income ETF, while Innovator's ACEI fund nearly doubled. Gold made a small comeback via a new $2.4M GLD position, and the advisor established fresh stakes in the energy infrastructure MPLX LP and commodity-oriented AMLP.