Total asset value increased approximately 24.7% during the second quarter; total investment volume expanded approximately 20.6% during the first half of 2026

[West Drayton Middx, UK, July 28, 2026] – The SiLLC Assembly (“TSA” or “the Assembly”), a private portfolio assembly focused on future-oriented technology companies, digital assets and international strategic opportunities, today reported its portfolio development for the second quarter and first half of 2026.

In accordance with TSA’s reporting policy, only percentage changes are disclosed.

Q2 2026 highlights

Compared with the end of the first quarter of 2026:

• Total asset value increased by approximately 24.7%
• Traditional investment portfolio value increased by approximately 27.7%
• Total invested capital increased by approximately 11.5%
• The cash position increased by approximately 21.6%
• Digital asset investment capital remained unchanged
• Digital asset market value declined by approximately 10.0%

Compared with year-end 2025:

• Total asset value increased by approximately 5.8%
• Traditional investment portfolio value increased by approximately 9.9%
• Total invested capital increased by approximately 20.6%
• Digital asset investment capital remained unchanged
• Digital asset market value declined by approximately 32.7%

The second-quarter recovery followed a difficult first quarter in which geopolitical uncertainty, rapidly changing market expectations and pronounced volatility placed considerable pressure on technology and digital asset valuations. During Q1 2026, TSA’s total asset value declined by approximately 15.2%, while the value of its traditional investment portfolio declined by approximately 13.9%.

Despite this temporary valuation pressure, the Assembly continued to increase its underlying investment base throughout the first half of the year.

Technology portfolio drives Q2 recovery

The Assembly’s stronger second-quarter performance was primarily supported by its exposure to future-oriented technology sectors, including:

• Artificial intelligence and AI infrastructure
• Robotics and industrial automation
• Data center and high-performance computing infrastructure
• Energy generation and power infrastructure
• Optical networking and photonics
• Semiconductor and advanced connectivity technologies
• Selected blockchain and digital asset infrastructure

During the quarter, TSA continued to adjust individual positions and reallocate capital toward areas offering what the Assembly considers more attractive long-term risk-adjusted potential.

“Our second-quarter results demonstrate the importance of remaining disciplined during difficult market phases,” said Markus Schronen, Board Chair of The SiLLC Assembly. “The first quarter developed largely as we had anticipated: geopolitical uncertainty and rapid changes in market sentiment created substantial pressure across growth-oriented sectors. Rather than abandoning our long-term strategy, we used the environment to review exposures, mitigate identifiable risks and strengthen selected positions.”

Schronen continued: “The recovery in the second quarter supports our view that artificial intelligence, robotics, compute infrastructure, energy and photonics will remain central components of the next technological investment cycle. At the same time, we expect volatility to remain exceptionally high. Strong performance in one quarter does not eliminate the need for continuous and highly flexible risk management.”

U.S. markets remain the primary investment focus

TSA confirmed that the United States remains its principal geographic investment market. The Assembly believes that the U.S. continues to provide the most compelling combination of technological leadership, access to growth capital, entrepreneurial activity and publicly traded companies operating in strategically important industries.

European exposure remains limited to selected exceptions where the Assembly identifies a compelling company-specific opportunity.

Germany, in particular, currently remains outside TSA’s investable universe for new direct portfolio allocations. This position reflects the Assembly’s concerns regarding regulatory complexity, energy and operating costs, the pace of industrial transformation, uncertainty surrounding technology policy and the competitiveness of the domestic environment for AI-intensive and capital-intensive businesses.

“This is an allocation decision based on our assessment of relative opportunity and risk,” Schronen said. “We currently see significantly stronger conditions for technological commercialization and capital formation in the United States. Germany would need to demonstrate a credible and sustained improvement in industrial competitiveness, regulatory predictability, energy policy and its treatment of emerging technologies before we would reconsider that position.”

The statement represents TSA’s internal portfolio policy and should not be interpreted as a general recommendation concerning investments in Germany or Europe.

Risk mitigation and selective return of leverage strategies

TSA continued to operate under an enhanced risk management framework during the second quarter. Portfolio adjustments included the reduction or closure of selected positions, the redeployment of capital toward higher-conviction opportunities and the preservation of liquidity for periods of market dislocation.

Following the closure of all leverage positions at the end of the first quarter, the Assembly maintained a cautious approach throughout much of Q2.

“Leverage-based transactions have been more difficult to execute successfully in 2026 than they were during the previous year,” said Martin Schuetz, Chief Investment Officer, Head of Assembly and Digital Asset Treasury Officer of The SiLLC Assembly. “They nevertheless remain a potentially useful tactical instrument when applied within clearly defined limits and under suitable market conditions.”

Schuetz added: “The beginning of the traditional summer-lull period has produced increased price dispersion and selected valuation opportunities. We are therefore prepared to reintroduce carefully controlled leverage transactions during the second half of the year where the risk-reward profile is sufficiently attractive. These transactions are not treated as permanent portfolio exposure, and capital protection remains the overriding priority.”

TSA emphasized that leverage involves heightened risk and that its use will remain selective, limited and subject to ongoing review. Historical contributions from leverage strategies should not be interpreted as an indication or guarantee of future results.

Digital Asset Treasury remains a long-term strategic component

The amount of capital allocated directly to TSA’s Digital Asset Treasury remained unchanged during the first half of 2026. The market value of those holdings continued to be affected by volatility in the broader crypto market.

The Assembly does not currently intend to make its Digital Asset Treasury the dominant component of its portfolio. Instead, it will continue to manage the treasury as a long-term strategic allocation while maintaining its principal investment focus on companies associated with transformative technologies and infrastructure.

“Our digital asset positions remain part of a long-term thesis rather than a short-term performance instrument,” Schuetz said. “We are allowing the treasury strategy to develop over time, while the majority of our research and capital-allocation activity remains focused on technology companies with exposure to AI, compute, energy, robotics, connectivity and photonics.”

TSA and its associated technology initiatives also continue to operate and establish Bitcoin Full Nodes. Independently operated Full Nodes validate transactions and blocks according to the Bitcoin protocol’s consensus rules, contributing to the network’s decentralization, redundancy and resilience. Node operation does not itself guarantee financial returns but forms part of the Assembly’s broader commitment to supporting decentralized digital infrastructure.

Growing demand from German mid-sized companies

In parallel with its portfolio activities, TSA is experiencing rapidly growing demand from German small and medium-sized enterprises seeking support with internationalization, operational outsourcing and the possible relocation of selected business functions.

The demand is being driven by concerns surrounding operating costs, regulatory complexity, access to qualified international markets and the long-term competitiveness of domestic business structures.

Through SiLLC Assembly International, the Assembly intends to expand its related services during the coming months. These activities may include strategic market assessments, international location analysis, operational structuring, technology and infrastructure coordination, and support in identifying suitable external professional advisers.

These services do not replace regulated legal, tax, investment or financial advice. Where required, clients are expected to engage appropriately licensed specialists in the relevant jurisdiction.

“We are speaking with a growing number of established German businesses that are reassessing where and how they operate,” Schronen said. “The objective is not necessarily to relocate an entire company. In many cases, businesses are initially evaluating the internationalization of individual functions, technology operations, production capacity or future expansion projects. We expect demand for practical and internationally oriented support to continue increasing.”

Outlook

The SiLLC Assembly expects geopolitical developments, monetary policy uncertainty, changing trade conditions and valuation sensitivity across high-growth sectors to continue generating substantial market volatility during the second half of 2026.

TSA will therefore maintain a flexible approach combining:

• Active risk monitoring
• Selective portfolio reallocation
• Liquidity management
• Controlled use of leverage
• Long-term exposure to structural technology trends
• Limited geographic diversification outside its core U.S. focus

“We enter the second half of the year from a materially stronger position than at the end of the first quarter,” Schuetz concluded. “There will undoubtedly be further periods of turbulence. Our task is to distinguish temporary market noise from long-term technological change and to allocate capital accordingly. We remain cautious, liquid and prepared to act when compelling opportunities emerge.”

Forward-Looking Statements

This news release contains forward-looking statements based on current expectations, estimates, market observations, assumptions, opinions and beliefs of The SiLLC Assembly and its members.

Forward-looking statements are inherently subject to risks and uncertainties. Actual developments and results may differ materially due to geopolitical events, market volatility, economic conditions, regulatory developments, currency fluctuations, technology-sector risks, digital asset price movements, counterparty risks and other factors.

Terms such as “expect,” “intend,” “believe,” “anticipate,” “plan,” “may,” “will,” “could” and similar expressions are intended to identify forward-looking statements. TSA undertakes no obligation to update such statements except where required by applicable law.

Disclaimer

This release is provided solely for general informational and corporate communication purposes. It does not constitute investment, legal, tax or financial advice, an offer to sell, or a solicitation to purchase any security, financial instrument, digital asset or investment product.

The information contained herein does not provide sufficient grounds for making an investment decision. Leverage and digital assets involve substantial risks, including the potential loss of capital. Past performance is not a reliable indicator of future results, and no target, projection or expected outcome is guaranteed.

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Disclaimer
All transactions are carried out by SiLLC, a private portfolio management assembly. This document is not an offer of securities for sale or investment advisory services. This document contains general information only and is not intended to provide general or specific investment advice. Past performance is not a reliable indicator of future results and targets are not guaranteed. Certain statements and forecasted data are based on current expectations, current market and economic conditions, estimates, projections, opinions, and beliefs of SiLLC and/or its members. Due to various risks and uncertainties, actual results may differ materially from those reflected or contemplated in such forward-looking statements or in any of the case studies or forecasts. All references to SiLLC’s advisory activities relate to The SiLLC Assembly International.