Yes, Roundhill Memory ETF (DRAM) holds KIOXY with 6.48% (as of 2026-05-25).

Yes, Roundhill Generative AI & Technology Disruptor ETF (WTAI) holds KIOXY with 1.77% (as of 2026-05-25).

What ETFs hold KIOXY?

Kioxia Holdings Corporation (OTC ADR) (KIOXY) is held by DRAM (6.48%), WTAI (1.77%).

What AI bubble is KIOXY in?

Kioxia Holdings Corporation (OTC ADR) (KIOXY) is mapped to the DRAM / HBM Memory bubble on QuantAbundancia. Pure-play NAND (Kioxia). Thin OTC ADR liquidity - secondary tier despite the clean exposure. Held in $DRAM ETF (~5% weight).

What sector is KIOXY in?

Kioxia Holdings Corporation (OTC ADR) is classified under GICS Information Technology (Semiconductors & Semiconductor Equipment).

KIOXY

OTC

Kioxia Holdings Corporation (OTC ADR)

Information Technology · Semiconductors & Semiconductor Equipment

- last close

Thesis

as of 2026-06-01

Bull case

KIOXY is the largest dedicated NAND flash producer globally, with structural exposure to every major data-intensive secular trend: AI inference storage, enterprise SSD adoption, data-center build-out, and smartphone upgrade cycles.

(1) Pure-play NAND leverage - no DRAM or logic dilution, full margin torque to NAND pricing cycles. (2) $WDC JV at Yokkaichi/Kitakami gives shared capex efficiency and leading-edge BiCS process access. (3) AI/hyperscaler demand for high-capacity QLC and enterprise SSDs structurally lifts ASPs versus legacy HDD replacements.

(4) Post-IPO balance sheet normalization removes the Bain Capital overhang that suppressed prior listing attempts. (5) Kitakami Fab 2 ramp (2025-2026) expands capacity into a tightening NAND supply environment.

Bear case

(1) NAND is a commodity cyclical - oversupply episodes (2022-2023 downturn, -50% ASP) can destroy margins within two quarters. (2) $MU (Micron) and $SSNLF (Samsung) have deeper balance sheets and broader product breadth to absorb downturns.

(3) ADR liquidity is thin; the TSE-listed parent is the price discovery venue. (4) WDC JV dissolution risk - any strategic shift by $WDC disrupts shared capex and technology roadmap. (5) Geopolitical exposure: Japan fabs are subject to US export-control escalation and China demand concentration risk.

•WDC Joint Venture (ongoing): Western Digital Yokkaichi Partnership and Kitakami JV - co-investment in BiCS NAND fabs; estimated combined capacity >40% of global NAND bits shipped.

Analyze KIOXY· interactive tools

Bubbles· capital-flow co-movement

Conviction· in 1 watchlist

Related research· long-form analysis touching KIOXY

Recent news· high-signal only

No major news in the last 7 days for KIOXY - only listicles and opinion pieces, which we filter out by default. .

Held by ETFs

Roundhill Memory ETF
6.48%
Roundhill Generative AI & Technology Disruptor ETF

Frequently asked questions

Is KIOXY in DRAM?: Yes, Roundhill Memory ETF (DRAM) holds KIOXY with 6.48% (as of 2026-05-25).
Is KIOXY in WTAI?: Yes, Roundhill Generative AI & Technology Disruptor ETF (WTAI) holds KIOXY with 1.77% (as of 2026-05-25).
What ETFs hold KIOXY?: Kioxia Holdings Corporation (OTC ADR) (KIOXY) is held by DRAM (6.48%), WTAI (1.77%).
What AI bubble is KIOXY in?: Kioxia Holdings Corporation (OTC ADR) (KIOXY) is mapped to the DRAM / HBM Memory bubble on QuantAbundancia. Pure-play NAND (Kioxia). Thin OTC ADR liquidity - secondary tier despite the clean exposure. Held in $DRAM ETF (~5% weight).
What sector is KIOXY in?: Kioxia Holdings Corporation (OTC ADR) is classified under GICS Information Technology (Semiconductors & Semiconductor Equipment).