Guidance Capital Q2 Portfolio Activity: ETF Focus & Strategic Shifts

As of June 30th, 2026, Guidance Capital Inc.'s portfolio held significant exposure to exchange-traded funds (ETFs), with the largest allocation being SPY at approximately $453 million or 9.7% of its total value.

Prominent Changes in Holdings

The investor's activity this quarter was marked by notable shifts across several ETF holdings, reflecting both strategic adjustments and potential tactical moves within their investment thesis focused on these instruments.

• Guidance Capital significantly increased its position in the IAU (ISHARES Gold TR), adding over 13,000 shares representing a nearly 56% increase from the previous quarter. This substantial allocation change suggests confidence or hedging strategies tied to gold assets.
• The holding of GSY saw an increase of about 3.7%, indicating continued interest in actively managed exchange-traded funds within this category.
• Several holdings experienced large percentage changes but smaller absolute share movements, such as IEMG (+0.79%), IEFA (+2.32%), and RSP (+7.3%).

Significant Purchases & New Positions

The filing indicates Guidance Capital has been actively acquiring ETFs this quarter:

• A major purchase was the addition of IAU, which now accounts for about 0.6% allocation but represents a significant share increase.
• Other notable additions include CME (though data shows an exit later), CRWD, AXON, EQL, and NOBL, suggesting diversification into specific sectors or themes through ETF vehicles.

Tactical Adjustments & Exits

Beyond large allocations, the investor also made adjustments to existing positions:

• They exited CME entirely during this period.
• There were substantial increases in holdings like SHY (+13.09%), BIL (already a top holding but increased by 4.35%), and LQD (+14.69%).
• Smaller adjustments occurred across other ETFs, including ICLN (+9.08%), TFLO (+11.24%), GNMA (+14.21%), AGNC (+14.78%), USHY (+20.95%), and FALN (+14.04%).

Portfolio Structure & Concentration

The portfolio structure shows Guidance Capital holding 229 distinct positions as of the filing date, with a top five allocation percentage of 28.3%. This indicates moderate concentration compared to potentially more diversified portfolios.

The investor's allocations spanned various sectors, including Technology (7.66%), Industrials (4.29%), Consumer Cyclical (2.77%), Financial Services (2.51%), and Real Estate (1.51%). The filing also notes that the portfolio includes holdings in 'Unknown' sector amounting to 72.06% of its value, which is substantial.

Overall, Guidance Capital's actions this quarter involved both strengthening their position in certain ETFs like IAU and exiting others entirely, such as CME, while continuing to hold significant stakes in established holdings like SPY, BIL, GSY, and GBIL. Their focus appears heavily weighted towards fixed income and ETF vehicles.