This article examines news and political mediations of security, race, and violence in the 2016 Pulse Nightclub shooting in an attempt to isolate how dominant institutions reaffirm and preserve the North American state's monopoly on violence and cultural preservation through the calculated balance of security in relation to tolerance of diversity. The event was predominantly mediated through security discourses of the “war on terror,” and this martial framing enabled the production of homonationalist rhetoric (drawing on Jasbir Puar's Terrorist Assemblages) that aimed to include previously excluded queer Latino/a populations within the American body politic. Focusing on news media reporting and political as well as activist responses to the shooting during the months of June–August 2016, the article shows how this process of homonationalist inclusion was not smooth. Memorialization and advocacy for the Pulse victims by dominant institutions is striated by colliding phobias (Islamo‐, xeno‐, and homo‐) that interrupt a clear mode of nationalist address or point of identification in mediations of the shooting. Drawing on a knowledge base attentive to queer‐of‐color and Indigenous concerns, the article demonstrates how biopolitical and necropolitical value is extracted from communities exposed to intersecting violences with differential dividends distributed to queer Latino/a and Afro‐Latino/a communities.