Connective Capital Management, LLC In its 13F for Q2 2024 (holdings as of June 30, 2024, filed August 19, 2024), Connective Capital Management, LLC reported 27 stock positions worth $53.2 million . Its top holding was Microsoft (MSFT) at 12.5% of the portfolio, followed by Apple (AAPL, 10.0% ) and Proshares Ultra QQQ (QLD, 9.9% ). Compared with Q1 2024, it opened 11 new positions, sold out of 4, added to 3 and reduced 9. The biggest buy was a new position in Meta Platforms Class A (META) and the biggest sale an exit from iShares Russell 2000 ETF (IWM).
Location PALO ALTO, CA
CIK 0001543568
Portfolio Value $53.2M (Q2 2024) Holdings 27 stocks · $53.2M Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q1 2024 MSFT Microsoft Corp. 14,848 $6.6M Reduce -18.9% AAPL Apple Inc. 25,295 $5.3M Reduce -7.5% QLD Proshares Ultra QQQ 52,959 $5.3M No change ASML ASML Holding NV-NY Reg SHS 3,832 $3.9M Reduce -8.4% IWO iShares Russell 2000 Growth 13,453 $3.5M No change AMZN Amazon.com Inc. 18,126 $3.5M Add +16.4% GOOGL Alphabet Inc. Class A 17,818 $3.2M No change ISRG Intuitive Surgical Inc. 7,196 $3.2M Reduce -69.0% ANSS Ansys Inc. 8,665 $2.8M Reduce -23.5% MELI MercadoLibre Inc. 1,426 $2.3M No change META Meta Platforms Inc. Class A 3,794 $1.9M New CCJ Cameco Corp. 30,303 $1.5M Reduce -69.3% TSM Taiwan Semiconductor-SP ADR 8,561 $1.5M New CRM Salesforce Inc. 4,970 $1.3M New IWC iShares Micro-Cap ETF 10,219 $1.2M Reduce -49.1% SHOP Shopify Inc. Class A 17,606 $1.2M New WDC Western Digital Corp. 13,679 $1.0M New QQQ Invesco QQQ Trust Series 1 1,843 $883K New NXE Nexgen Energy Ltd. 75,850 $529K Reduce -52.0% DNN Denison Mines Corp. 265,382 $528K Reduce -14.1% HGBL Heritage Global Inc. 207,547 $511K Add +1.8% LFMD Lifemd Inc. 52,899 $363K New ACMR Acm Research Inc. Class A 14,028 $323K New AAOI Applied Optoelectronics Inc. 30,122 $250K New FTHM Fathom Holdings Inc. 122,673 $211K Add +50.9% MULTISENSOR AI HOLDINGS INC 83,418 $137K New SWVL SWVL Holdings Corp. 19,347 $123K New
Options reported separately and not counted above: CAMECO CORP calls ($2.5M).
Other holdings (4): bonds, preferreds, convertibles and warrants · $7K (not counted above) Security Class Shares / Principal Value Change MOBXW Chavrant Capital Acq -CW23 *W EXP 12/21/202 22,397 $3K New SURGW Surgepays Inc. -CW24 *W EXP 10/22/202 9,529 $3K No change BITE.WS Bite Acquisition Corp. -CW27 *W EXP 02/12/203 24,999 $1K No change NBSTW Newbury Street Acq -CW27 *W EXP 04/30/202 10,498 $644 No change
Total filed on the 13F, all lines: $53.2M.
Portfolio Sells Q1 2024 → Q2 2024 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q1 2024 % Of Portfolio Change To Portfolio ▲ IWM iShares Russell 2000 ETF Sold out 0.00% −11.57 ISRG Intuitive Surgical Inc. Reduce -69.0% 6.02% −8.62 CCJ Cameco Corp. Reduce -69.3% 2.80% −3.94 IWC iShares Micro-Cap ETF Reduce -49.1% 2.19% −1.65 UEC Uranium Energy Corp. Sold out 0.00% −1.32 ANSS Ansys Inc. Reduce -23.5% 5.24% −0.97 NXE Nexgen Energy Ltd. Reduce -52.0% 1.00% −0.94 SLP Simulations Plus Inc. Sold out 0.00% −0.57 MOBIX LABS INC Sold out 0.00% −0.00 DNN Denison Mines Corp. Reduce -14.1% 0.99% +0.04 MSFT Microsoft Corp. Reduce -18.9% 12.48% +0.32 ASML ASML Holding NV-NY Reg SHS Reduce -8.4% 7.37% +0.96 AAPL Apple Inc. Reduce -7.5% 10.02% +2.62
Portfolio Buys Q1 2024 → Q2 2024 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q1 2024 % Of Portfolio Change To Portfolio ▼ META Meta Platforms Inc. Class A New 3.60% +3.60 TSM Taiwan Semiconductor-SP ADR New 2.80% +2.80 CRM Salesforce Inc. New 2.40% +2.40 SHOP Shopify Inc. Class A New 2.19% +2.19 AMZN Amazon.com Inc. Add +16.4% 6.59% +2.16 WDC Western Digital Corp. New 1.95% +1.95 QQQ Invesco QQQ Trust Series 1 New 1.66% +1.66 LFMD Lifemd Inc. New 0.68% +0.68 ACMR Acm Research Inc. Class A New 0.61% +0.61 AAOI Applied Optoelectronics Inc. New 0.47% +0.47 MULTISENSOR AI HOLDINGS INC New 0.26% +0.26 SWVL SWVL Holdings Corp. New 0.23% +0.23 FTHM Fathom Holdings Inc. Add +50.9% 0.40% +0.14 HGBL Heritage Global Inc. Add +1.8% 0.96% +0.11
Notes & Other Activity Q1 2024 → Q2 2024 Security Class Change vs Q1 2024 Shares / Principal Value ▼ MOBXW Chavrant Capital Acq -CW23 *W EXP 12/21/202 New 22,397 $3K EACPW Edify Acq Class A -CW27 *W EXP 11/25/202 Sold out 5,000 $4before exit
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 66 $141.9M QQQ, QLD, ISRG, AMD, TSM Q1 2026 62 $121.1M QQQ, ISRG, QLD, MSFT, AAPL Q4 2025 53 $170.2M VOO, QQQ, ISRG, QLD, MSFT Q3 2025 69 $108.9M QQQ, ISRG, AVGO, MSFT, QLD Q2 2025 46 $107.0M ISRG, QQQ, MSFT, AVGO, QLD Q1 2025 43 $108.6M QQQ, ISRG, SPY, MSFT, QLD Q4 2024 64 $85.8M ISRG, GLNG, MSFT, AAPL, QLD Q3 2024 33 $107.7M QQQ, ISRG, MSFT, GLNG, AAPL Q2 2024 Amended 27 $53.2M MSFT, AAPL, QLD, ASML, IWO Q1 2024 Amended 20 $63.4M ISRG, MSFT, IWM, AAPL, QLD