Connective Capital Management, LLC
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 18, 2025), Connective Capital Management, LLC reported 64 stock positions worth $85.8 million. Its top holding was Intuitive Surgical (ISRG) at 13.3% of the portfolio, followed by Golar LNG (GLNG, 8.5%) and Microsoft (MSFT, 7.6%). Compared with Q3 2024, it opened 40 new positions, sold out of 9, added to 3 and reduced 4. The biggest buy was a new position in HubSpot (HUBS) and the biggest sale an exit from Invesco QQQ Trust Series 1 (QQQ).
- Most Recent 13F
- Q2 2026
- Location
- PALO ALTO, CA
- CIK
- 0001543568
- Portfolio Value
- $85.8M (Q4 2024)
- SEC Filing
- 0001095449-25-000006 ↗ filed Feb 18, 2025
Holdings Value
Holdings 64 stocks · $85.8M
| ISRG Intuitive Surgical Inc. | 13.33% | 21,929 | $11.4M | No change |
| GLNG Golar LNG Ltd. | 8.45% | 171,420 | $7.3M | No change |
| MSFT Microsoft Corp. | 7.57% | 15,420 | $6.5M | No change |
| AAPL Apple Inc. | 7.38% | 25,295 | $6.3M | No change |
| QLD Proshares Ultra QQQ | 6.68% | 52,959 | $5.7M | No change |
| AMZN Amazon.com Inc. | 5.40% | 21,140 | $4.6M | No change |
| IWO iShares Russell 2000 Growth | 4.51% | 13,453 | $3.9M | No change |
| GOOGL Alphabet Inc. Class A | 3.93% | 17,818 | $3.4M | No change |
| CCJ Cameco Corp. | 3.63% | 60,664 | $3.1M | Add +15.6% |
| META Meta Platforms Inc. Class A | 3.52% | 5,154 | $3.0M | Add +3.4% |
| COST Costco Wholesale Corp. | 2.74% | 2,571 | $2.4M | No change |
| NVDA Nvidia Corp. | 2.57% | 16,412 | $2.2M | No change |
| MELI MercadoLibre Inc. | 2.45% | 1,237 | $2.1M | No change |
| ANSS Ansys Inc. | 2.02% | 5,137 | $1.7M | No change |
| IBKR Interactive Brokers Gro Class A | 1.94% | 9,410 | $1.7M | Add +32.3% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 1.90% | 7,400 | $1.6M | No change |
| HUBS HubSpot Inc. | 1.86% | 2,288 | $1.6M | New |
| SPOT Spotify Technology SA | 1.40% | 2,679 | $1.2M | New |
| CRWD CrowdStrike Holdings Inc. Class A | 1.35% | 3,399 | $1.2M | No change |
| ZG Zillow Group Inc. Class A | 1.28% | 15,524 | $1.1M | Reduce -15.7% |
| COIN Coinbase Global Inc. Class A | 1.08% | 3,749 | $931K | New |
| EL Estee Lauder Companies Class A filed as LAUDER ESTEE COS INC | 1.00% | 11,432 | $857K | New |
| LPTH Lightpath Technologies Inc. Class A | 0.85% | 207,597 | $733K | New |
| MPWR Monolithic Power Systems Inc. | 0.85% | 1,234 | $730K | New |
| TNDM Tandem Diabetes Care Inc. | 0.71% | 16,960 | $611K | New |
| BLZE Backblaze Inc. Class A | 0.70% | 99,620 | $600K | New |
| ETHE Grayscale Ethereum Staking E | 0.67% | 20,659 | $579K | New |
| HOOD Robinhood Markets Inc. Class A | 0.63% | 14,626 | $545K | New |
| EVEX Eve Holding Inc. filed as EVE HLDG INC | 0.58% | 91,961 | $500K | New |
| CEG Constellation Energy | 0.58% | 2,219 | $496K | New |
| BYRN Byrna Technologies Inc. | 0.52% | 15,599 | $449K | Reduce -35.4% |
| SRTA Strata Critical Medical Inc. filed as BLADE AIR MOBILITY INC | 0.51% | 102,147 | $434K | New |
| ASPN Aspen Aerogels Inc. | 0.50% | 36,475 | $433K | New |
| OOMA Ooma Inc. | 0.50% | 30,644 | $431K | New |
| ABEO Abeona Therapeutics Inc. | 0.49% | 74,913 | $417K | No change |
| BWXT BWX Technologies Inc. | 0.46% | 3,572 | $398K | Reduce -20.7% |
| CAN Canaan Inc. | 0.45% | 189,446 | $388K | New |
| TWI Titan International Inc. | 0.44% | 55,062 | $374K | No change |
| RCMT RCM Technologies Inc. | 0.41% | 15,735 | $349K | New |
| GCT Gigacloud Technology Inc. Class A | 0.40% | 18,718 | $347K | New |
| ACB Aurora Cannabis Inc. | 0.38% | 77,668 | $330K | New |
| CDZI Cadiz Inc. | 0.38% | 62,976 | $327K | New |
| HUCK Huckleberry AI Inc. filed as DOMO INC | 0.37% | 44,487 | $315K | New |
| NBIS Nebius Group NV | 0.32% | 9,836 | $272K | New |
| NEWT Newtekone Inc. | 0.29% | 19,557 | $250K | New |
| UAMY United States Antimony Corp. | 0.28% | 136,088 | $241K | Reduce -77.1% |
| FCEL Fuelcell Energy Inc. | 0.24% | 22,319 | $202K | New |
| EVTL Vertical Aerospace Ltd. | 0.22% | 15,000 | $189K | New |
| RENT Rent the Runway Inc. Class A | 0.21% | 21,485 | $183K | New |
| LFMD Lifemd Inc. | 0.19% | 32,722 | $162K | New |
| SKYX SKYX Platforms Corp. | 0.18% | 132,105 | $153K | New |
| VIVO Vivopower PLC Class A | 0.17% | 108,489 | $144K | New |
| TLSI Trisalus Life Sciences Inc. | 0.16% | 27,989 | $140K | New |
| APPLIED DNA SCIENCES INC | 0.04% | 178,615 | $36K | New |
| SUNSHINE BIOPHARMA INC | 0.04% | 11,345 | $34K | New |
| NMHI Nature's Miracle Holding Inc. | 0.04% | 15,860 | $34K | New |
| CNS PHARMACEUTICALS INC | 0.04% | 280,055 | $34K | New |
| YCBD Cbdmd Inc. | 0.04% | 89,215 | $33K | No change |
| INTERACTIVE STRENGTH INC | 0.04% | 11,395 | $32K | New |
| PSYENCE BIOMEDICAL LTD | 0.03% | 11,149 | $24K | New |
| MSGM Motorsport Games Inc. Class A | 0.03% | 16,267 | $22K | New |
| MRINQ Marin Software Inc. | 0.02% | 9,517 | $21K | New |
| VANI Vivani Medical Inc. | 0.02% | 18,088 | $21K | New |
| HYFM Hydrofarm Hldgs Group Inc. | 0.01% | 13,190 | $8K | New |
Other holdings (4): bonds, preferreds, convertibles and warrants · $18K (not counted above)
Total filed on the 13F, all lines: $85.9M.
Portfolio Sells Q3 2024 → Q4 2024
| QQQ Invesco QQQ Trust Series 1 | Sold out | 0.00% | −32.67 |
| IWC iShares Micro-Cap ETF | Sold out | 0.00% | −1.95 |
| ASML ASML Holding NV-NY Reg SHS | Sold out | 0.00% | −1.80 |
| LYFT LYFT Inc. Class A | Sold out | 0.00% | −1.03 |
| ACMR Acm Research Inc. Class A | Sold out | 0.00% | −0.48 |
| SCPH Scpharmaceuticals Inc. | Sold out | 0.00% | −0.31 |
| EU Encore Energy Corp. | Sold out | 0.00% | −0.22 |
| UAMY United States Antimony Corp. | Reduce -77.1% | 0.28% | −0.06 |
| BWXT BWX Technologies Inc. | Reduce -20.7% | 0.46% | −0.05 |
| ALP Alpha Compute Corp. | Sold out | 0.00% | −0.04 |
| CALC Calcimedica Inc. | Sold out | 0.00% | −0.03 |
| BYRN Byrna Technologies Inc. | Reduce -35.4% | 0.52% | +0.20 |
| ZG Zillow Group Inc. Class A | Reduce -15.7% | 1.28% | +0.29 |
Portfolio Buys Q3 2024 → Q4 2024
| HUBS HubSpot Inc. | New | 1.86% | +1.86 |
| SPOT Spotify Technology SA | New | 1.40% | +1.40 |
| CCJ Cameco Corp. | Add +15.6% | 3.63% | +1.09 |
| COIN Coinbase Global Inc. Class A | New | 1.08% | +1.08 |
| EL Estee Lauder Companies Class A | New | 1.00% | +1.00 |
| IBKR Interactive Brokers Gro Class A | Add +32.3% | 1.94% | +0.93 |
| META Meta Platforms Inc. Class A | Add +3.4% | 3.52% | +0.89 |
| LPTH Lightpath Technologies Inc. Class A | New | 0.85% | +0.85 |
| MPWR Monolithic Power Systems Inc. | New | 0.85% | +0.85 |
| TNDM Tandem Diabetes Care Inc. | New | 0.71% | +0.71 |
| BLZE Backblaze Inc. Class A | New | 0.70% | +0.70 |
| ETHE Grayscale Ethereum Staking E | New | 0.67% | +0.67 |
| HOOD Robinhood Markets Inc. Class A | New | 0.63% | +0.63 |
| EVEX Eve Holding Inc. | New | 0.58% | +0.58 |
| CEG Constellation Energy | New | 0.58% | +0.58 |
| SRTA Strata Critical Medical Inc. | New | 0.51% | +0.51 |
| ASPN Aspen Aerogels Inc. | New | 0.50% | +0.50 |
| OOMA Ooma Inc. | New | 0.50% | +0.50 |
| CAN Canaan Inc. | New | 0.45% | +0.45 |
| RCMT RCM Technologies Inc. | New | 0.41% | +0.41 |
| GCT Gigacloud Technology Inc. Class A | New | 0.40% | +0.40 |
| ACB Aurora Cannabis Inc. | New | 0.38% | +0.38 |
| CDZI Cadiz Inc. | New | 0.38% | +0.38 |
| HUCK Huckleberry AI Inc. | New | 0.37% | +0.37 |
| NBIS Nebius Group NV | New | 0.32% | +0.32 |
| NEWT Newtekone Inc. | New | 0.29% | +0.29 |
| FCEL Fuelcell Energy Inc. | New | 0.24% | +0.24 |
| EVTL Vertical Aerospace Ltd. | New | 0.22% | +0.22 |
| RENT Rent the Runway Inc. Class A | New | 0.21% | +0.21 |
| LFMD Lifemd Inc. | New | 0.19% | +0.19 |
| SKYX SKYX Platforms Corp. | New | 0.18% | +0.18 |
| VIVO Vivopower PLC Class A | New | 0.17% | +0.17 |
| TLSI Trisalus Life Sciences Inc. | New | 0.16% | +0.16 |
| APPLIED DNA SCIENCES INC | New | 0.04% | +0.04 |
| SUNSHINE BIOPHARMA INC | New | 0.04% | +0.04 |
| NMHI Nature's Miracle Holding Inc. | New | 0.04% | +0.04 |
| CNS PHARMACEUTICALS INC | New | 0.04% | +0.04 |
| INTERACTIVE STRENGTH INC | New | 0.04% | +0.04 |
| PSYENCE BIOMEDICAL LTD | New | 0.03% | +0.03 |
| MSGM Motorsport Games Inc. Class A | New | 0.03% | +0.03 |
| MRINQ Marin Software Inc. | New | 0.02% | +0.02 |
| VANI Vivani Medical Inc. | New | 0.02% | +0.02 |
| HYFM Hydrofarm Hldgs Group Inc. | New | 0.01% | +0.01 |
Options Activity Q3 2024 → Q4 2024
| CAMECO CORP | call | Sold out | 50,000 | $2.6Mbefore exit |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q3 2024 → Q4 2024
| CLSKW Cleanspark Inc.-29 | *W EXP 12/29/202 | New | 17,500 | $13K |
| MDCXW Medicus Pharma Ltd. -29 | *W EXP 11/15/202 | New | 6,000 | $2K |
| NBSTW Newbury Street Acq -CW27 | *W EXP 04/30/202 | Sold out | 10,498 | $105before exit |
| SURGW Surgepays Inc. -CW24 | *W EXP 10/22/202 | Sold out | 9,529 | $77before 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 2024Amended | 27 | $53.2M | MSFT, AAPL, QLD, ASML, IWO |
| Q1 2024Amended | 20 | $63.4M | ISRG, MSFT, IWM, AAPL, QLD |