WEST MICHIGAN ADVISORS, LLC

The most consequential action of the quarter was the rotation of the active sleeve away from thematic vehicles. The largest reduction by value landed on CGGO, Capital Group's growth-equity ETF, which was trimmed by roughly 565,000 shares — a 36% cut that removed approximately $2.1M from the position. That capital migrated toward dividend-heavy names: Merck ($5.3M initiated), Bristol-Myers Squibb ($4.0M), Altria ($3.9M) and Caterpillar ($3.8M). All four are high-yield, cash-generative businesses whose defensive characteristics outperform when rate expectations shift.

The high-frequency churn in the ETF sleeve suggests a separate discipline. The largest net addition came from Alphabet, where the advisor added roughly 7,100 shares — a 78% increase in position size worth approximately $1.8M in new money despite the stock's own price appreciation. Microsoft's value declined fractionally even as shares were added, implying the price moved against the position. Comcast was the largest share-count increase at 54%, adding more than 51,000 shares.