Defiance ETFs, LLC

Defiance ETFs, LLC declares $4.5B in 134 of the 230 AI and semiconductor companies tracked on Silicon Floor, as of Jun 30, 2026 (Form 13F): 61.2% of its $7.4B 13F portfolio. Largest positions: Broadcom (0.01% of the company) and NVIDIA (0.00% of the company). It is an index manager: its trades follow fund flows, so they are left out of the quarter's moves on /holders. Over time: $4.5B in 134 of these companies for Q2 2026, against $2.1B in 65 for Q4 2025 (13F values as filed). From Mar 31, 2026 to Jun 30, 2026, it bought $1.0B and sold $2.2B of these stocks, at the quarter's prices: a net sale of $1.1B; 9 new positions and 4 sold out.

Performance of its AI picks

The AI-stock portfolio Defiance ETFs, LLC declared for Q2 2026 (Form 13F), held unchanged, returned -7.1% in Q3 2026 (SMH -7.1%). Trades made during a quarter are not visible in 13F filings: this measures its declared picks, not the return of its funds.

Largest positions

1. Broadcom (AVGO) — $143.1M: 387,371 shares, 0.01% of the company, 1.9% of its portfolio (trimmed this quarter); held since Q4 2025
2. NVIDIA (NVDA) — $136.8M: 692,495 shares, 0.00% of the company, 1.9% of its portfolio (added this quarter); held since Q4 2025
3. Marvell (MRVL) — $115.3M: 423,990 shares, 0.05% of the company, 1.6% of its portfolio (trimmed this quarter); held since Q4 2025
4. AMD (AMD) — $106.2M: 196,385 shares, 0.01% of the company, 1.4% of its portfolio (trimmed this quarter); held since Q4 2025
5. Arm Holdings (ARM) — $103.9M: 308,010 shares, 0.03% of the company, 1.4% of its portfolio (trimmed this quarter); held since Q4 2025
6. Cisco (CSCO) — $101.2M: 865,125 shares, 0.02% of the company, 1.4% of its portfolio (added this quarter); held since Q4 2025
7. Astera Labs (ALAB) — $91.7M: 212,915 shares, 0.12% of the company, 1.2% of its portfolio (trimmed this quarter); held since Q4 2025
8. GE Vernova (GEV) — $91.6M: 80,747 shares, 0.03% of the company, 1.2% of its portfolio (added this quarter); held since Q1 2026
9. Applied Materials (AMAT) — $89.3M: 137,176 shares, 0.02% of the company, 1.2% of its portfolio (trimmed this quarter); held since Q4 2025
10. Onto Innovation (ONTO) — $86.8M: 246,958 shares, 0.50% of the company, 1.2% of its portfolio (trimmed this quarter); held since Q4 2025
11. MKS (MKSI) — $86.5M: 210,440 shares, 0.31% of the company, 1.2% of its portfolio (trimmed this quarter); held since Q4 2025
12. KLA (KLAC) — $84.4M: 317,164 shares, 0.02% of the company, 1.1% of its portfolio (trimmed this quarter); held since Q4 2025
13. Qualcomm (QCOM) — $84.0M: 461,709 shares, 0.04% of the company, 1.1% of its portfolio (added this quarter); held since Q4 2025
14. Lam Research (LRCX) — $82.9M: 211,992 shares, 0.02% of the company, 1.1% of its portfolio (trimmed this quarter); held since Q4 2025
15. Micron (MU) — $82.2M: 79,599 shares, 0.01% of the company, 1.1% of its portfolio (trimmed this quarter); held since Q4 2025

By sector

• Chips & compute — $1.5B, 34% of its AI holdings, 23 companies
• Power, electrical & cooling — $607.7M, 13% of its AI holdings, 34 companies
• Equipment & test — $595.2M, 13% of its AI holdings, 8 companies
• AI software — $580.9M, 13% of its AI holdings, 18 companies
• Cloud & AI giants — $291.1M, 6% of its AI holdings, 5 companies
• Interconnect — $277.3M, 6% of its AI holdings, 10 companies
• Neoclouds & data centers — $248.1M, 6% of its AI holdings, 21 companies
• Servers & systems — $150.4M, 3% of its AI holdings, 5 companies
• Optics — $111.0M, 2% of its AI holdings, 5 companies
• Memory & storage — $100.7M, 2% of its AI holdings, 5 companies

Biggest changes this quarter

• trimmed IREN (IREN): -$545.9M at the quarter's price
• trimmed Oracle (ORCL): -$405.4M at the quarter's price
• trimmed Broadcom (AVGO): -$341.0M at the quarter's price
• trimmed Oklo (OKLO): -$183.8M at the quarter's price
• sold out of Super Micro Computer (SMCI): -$141.6M at the quarter's price
• trimmed Micron (MU): -$87.0M at the quarter's price
• added to Nebius (NBIS): +$73.6M at the quarter's price
• opened a position in Amazon (AMZN): +$67.7M at the quarter's price
• opened a position in Palantir (PLTR): +$67.1M at the quarter's price
• added to GE Vernova (GEV): +$62.9M at the quarter's price

Other holders of this size

• ECP ControlCo, LLC — $4.5B in 2 of these companies
• Ilmarinen Mutual Pension Insurance Co — $4.5B in 88 of these companies
• Jericho Capital Asset Management L.P. — $4.5B in 11 of these companies
• Sarasin & Partners LLP — $4.5B in 17 of these companies
• FACTORY MUTUAL INSURANCE CO — $4.5B in 42 of these companies
• MUFG Securities EMEA plc — $4.5B in 102 of these companies
• Donor Advised Charitable Giving, Inc. — $4.4B in 4 of these companies
• Schonfeld Strategic Advisors LLC — $4.6B in 164 of these companies

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