Connective Capital Management, LLC
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 17, 2025), Connective Capital Management, LLC reported 69 stock positions worth $108.9 million. Its top holding was Invesco QQQ Trust Series 1 (QQQ) at 13.4% of the portfolio, followed by Intuitive Surgical (ISRG, 9.0%) and Broadcom (AVGO, 7.1%). Compared with Q2 2025, it opened 41 new positions, sold out of 18, added to 6 and reduced 6. The biggest buy was Invesco QQQ Trust Series 1 (QQQ, shares +19%) and the biggest sale an exit from Nvidia (NVDA).
- Most Recent 13F
- Q2 2026
- Location
- PALO ALTO, CA
- CIK
- 0001543568
- Portfolio Value
- $108.9M (Q3 2025)
- SEC Filing
- 0001543568-25-000003 ↗ filed Nov 17, 2025
Holdings Value
Holdings 69 stocks · $108.9M
| QQQ Invesco QQQ Trust Series 1 | 13.39% | 24,294 | $14.6M | Add +18.7% |
| ISRG Intuitive Surgical Inc. | 9.00% | 21,929 | $9.8M | No change |
| AVGO Broadcom Inc. | 7.05% | 23,283 | $7.7M | No change |
| MSFT Microsoft Corp. | 6.83% | 14,354 | $7.4M | Reduce -6.9% |
| QLD Proshares Ultra QQQ | 6.67% | 52,959 | $7.3M | No change |
| AAPL Apple Inc. | 4.53% | 19,379 | $4.9M | No change |
| IWO iShares Russell 2000 Growth | 3.95% | 13,453 | $4.3M | No change |
| CCJ Cameco Corp. | 3.47% | 45,029 | $3.8M | No change |
| MELI MercadoLibre Inc. | 3.07% | 1,430 | $3.3M | Add +15.6% |
| META Meta Platforms Inc. Class A | 2.96% | 4,391 | $3.2M | Reduce -24.9% |
| COST Costco Wholesale Corp. | 2.24% | 2,633 | $2.4M | No change |
| DOMH Dominari Holdings Inc. | 2.18% | 335,273 | $2.4M | Add +26.2% |
| AMD Advanced Micro Devices | 1.94% | 13,058 | $2.1M | New |
| BABA Alibaba Group Holding-SP ADR | 1.93% | 11,778 | $2.1M | New |
| CRWD CrowdStrike Holdings Inc. Class A | 1.89% | 4,194 | $2.1M | No change |
| SPOT Spotify Technology SA | 1.88% | 2,939 | $2.1M | No change |
| AMZN Amazon.com Inc. | 1.87% | 9,295 | $2.0M | Reduce -7.3% |
| JEF Jefferies Financial Group Inc. | 1.69% | 28,154 | $1.8M | No change |
| GOOGL Alphabet Inc. Class A | 1.58% | 7,094 | $1.7M | No change |
| RDDT Reddit Inc. Class A | 1.46% | 6,930 | $1.6M | No change |
| DASH DoorDash Inc. Class A | 1.46% | 5,831 | $1.6M | New |
| NFLX Netflix Inc. | 1.39% | 1,264 | $1.5M | Reduce -22.3% |
| IBKR Interactive Brokers Gro Class A | 1.08% | 17,065 | $1.2M | Reduce -46.9% |
| AMBA Ambarella Inc. | 1.06% | 13,934 | $1.1M | New |
| UMAC Unusual Machines Inc. | 1.04% | 75,000 | $1.1M | Add +1.1% |
| ZM Zoom Communications Inc. | 1.04% | 13,721 | $1.1M | Reduce -65.5% |
| TWLO Twilio Inc. Class A | 0.80% | 8,743 | $875K | No change |
| SEZL Sezzle Inc. | 0.68% | 9,370 | $745K | New |
| SNPS Synopsys Inc. | 0.63% | 1,383 | $682K | New |
| RKT Rocket Cos Inc. Class A | 0.62% | 34,814 | $675K | New |
| VVOS Vivos Therapeutics Inc. | 0.57% | 200,000 | $620K | New |
| OCEAN POWER TECHNOLOGIES INC | 0.54% | 1,178,217 | $593K | New |
| HAPN Happen Inc. filed as LENDINGCLUB CORP | 0.52% | 37,303 | $567K | New |
| LFMD Lifemd Inc. | 0.52% | 83,326 | $566K | New |
| DAVE Dave Inc. | 0.51% | 2,804 | $559K | New |
| ZG Zillow Group Inc. Class A | 0.46% | 6,689 | $498K | New |
| VIR Vir Biotechnology Inc. | 0.40% | 75,470 | $431K | New |
| ATLX Atlas Lithium Inc. | 0.37% | 85,000 | $405K | New |
| SNDL SNDL Inc. | 0.37% | 149,849 | $402K | New |
| AUID Authid Inc. | 0.35% | 120,949 | $386K | Add +59.1% |
| SLP Simulations Plus Inc. | 0.35% | 25,240 | $380K | New |
| CABO Cable One Inc. | 0.35% | 2,144 | $380K | New |
| NUVB Nuvation Bio Inc. | 0.34% | 99,623 | $369K | New |
| SHUTTLE PHARMACTCLS HLDGS IN | 0.33% | 100,535 | $357K | New |
| ACHR Archer Aviation Inc. Class A | 0.32% | 36,536 | $350K | New |
| CPOP Pop Culture Group Co. Ltd. Class A | 0.30% | 365,822 | $325K | New |
| FBTC Fidelity Wise Origin Bitcoin | 0.29% | 3,197 | $319K | New |
| ETHA iShares Ethereum Trust ETF | 0.29% | 10,020 | $316K | New |
| ACOG Alpha Cognition Inc. | 0.29% | 47,931 | $312K | New |
| RING iShares MSCI Global Gold Min | 0.28% | 4,773 | $309K | New |
| SSTI Soundthinking Inc. | 0.27% | 24,645 | $297K | New |
| EVTL Vertical Aerospace Ltd. | 0.24% | 50,535 | $262K | New |
| ANTA Antalpha Platform Hldng Co. Class A | 0.24% | 21,469 | $262K | No change |
| HUDSON PAC PPTYS INC | 0.22% | 87,592 | $242K | New |
| VTVT VTV Therapeutics Inc. Class A | 0.21% | 9,712 | $227K | No change |
| BEEP Mobile Infrastructure Corp. | 0.20% | 60,973 | $215K | Add +10.8% |
| DPRO Draganfly Inc. | 0.18% | 24,649 | $201K | New |
| RBOT Vicarious Surgical Inc. Class A | 0.16% | 30,649 | $169K | New |
| UCO Proshares Ultra Bloomberg CR | 0.15% | 7,073 | $159K | New |
| SNAL Snail Inc. | 0.15% | 145,245 | $158K | New |
| PR Permian Resources Corp. Class A | 0.14% | 12,078 | $155K | New |
| TLSI Trisalus Life Sciences Inc. | 0.14% | 32,796 | $153K | No change |
| XTAIF Xtao Inc. | 0.13% | 147,000 | $145K | New |
| TSPH Createai Holdings Inc. | 0.13% | 332,473 | $136K | New |
| DMRA Damora Therapeutics Inc. filed as GALECTO INC | 0.09% | 26,956 | $100K | New |
| PTIX Protagenic Therapeutics Inc. | 0.09% | 28,600 | $98K | New |
| RBNE Robin Energy Ltd. | 0.07% | 60,000 | $78K | New |
| SPPL Simpple Ltd. | 0.04% | 7,862 | $46K | New |
| LSTA Lisata Therapeutics Inc. | 0.00% | 1,016 | $3K | New |
Other holdings (4): bonds, preferreds, convertibles and warrants · $21K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| CLSKW Cleanspark Inc.-29 | *W EXP 12/29/202 | 17,500 | $8K | No change |
| ABVWF Above Food Ingredients- 29 | *W EXP 06/28/202 | 24,999 | $6K | No change |
| MDCXW Medicus Pharma Ltd. -29 | *W EXP 11/15/202 | 6,000 | $4K | No change |
| MOBXW Chavrant Capital Acq -CW23 | *W EXP 12/21/202 | 22,397 | $2K | No change |
Total filed on the 13F, all lines: $108.9M.
Portfolio Sells Q2 2025 → Q3 2025
| NVDA Nvidia Corp. | Sold out | 0.00% | −4.97 |
| UBER Uber Technologies Inc. | Sold out | 0.00% | −3.00 |
| PANW Palo Alto Networks Inc. | Sold out | 0.00% | −2.99 |
| ZM Zoom Communications Inc. | Reduce -65.5% | 1.04% | −1.86 |
| ANSS Ansys Inc. | Sold out | 0.00% | −1.34 |
| META Meta Platforms Inc. Class A | Reduce -24.9% | 2.96% | −1.07 |
| FCX Freeport-McMoran Inc. | Sold out | 0.00% | −1.07 |
| RSI Rush Street Interactive Inc. | Sold out | 0.00% | −0.72 |
| NFLX Netflix Inc. | Reduce -22.3% | 1.39% | −0.64 |
| VERI Veritone Inc. | Sold out | 0.00% | −0.61 |
| EAT Brinker International Inc. | Sold out | 0.00% | −0.59 |
| IBKR Interactive Brokers Gro Class A | Reduce -46.9% | 1.08% | −0.59 |
| BWXT BWX Technologies Inc. | Sold out | 0.00% | −0.58 |
| RDW Redwire Corp. | Sold out | 0.00% | −0.56 |
| VZLA Vizsla Silver Corp. | Sold out | 0.00% | −0.50 |
| ACMR Acm Research Inc. Class A | Sold out | 0.00% | −0.49 |
| NUE Nucor Corp. | Sold out | 0.00% | −0.46 |
| TRUE Truecar Inc. | Sold out | 0.00% | −0.37 |
| COIN Coinbase Global Inc. Class A | Sold out | 0.00% | −0.35 |
| MSFT Microsoft Corp. | Reduce -6.9% | 6.83% | −0.34 |
| AMZN Amazon.com Inc. | Reduce -7.3% | 1.87% | −0.18 |
| SNGX Soligenix Inc. | Sold out | 0.00% | −0.15 |
| ZYXIQ Zynex Inc. | Sold out | 0.00% | −0.10 |
| FIBROGEN INC | Sold out | 0.00% | −0.07 |
Portfolio Buys Q2 2025 → Q3 2025
| QQQ Invesco QQQ Trust Series 1 | Add +18.7% | 13.39% | +2.83 |
| AMD Advanced Micro Devices | New | 1.94% | +1.94 |
| BABA Alibaba Group Holding-SP ADR | New | 1.93% | +1.93 |
| DASH DoorDash Inc. Class A | New | 1.46% | +1.46 |
| AMBA Ambarella Inc. | New | 1.06% | +1.06 |
| DOMH Dominari Holdings Inc. | Add +26.2% | 2.18% | +0.83 |
| SEZL Sezzle Inc. | New | 0.68% | +0.68 |
| SNPS Synopsys Inc. | New | 0.63% | +0.63 |
| RKT Rocket Cos Inc. Class A | New | 0.62% | +0.62 |
| VVOS Vivos Therapeutics Inc. | New | 0.57% | +0.57 |
| OCEAN POWER TECHNOLOGIES INC | New | 0.54% | +0.54 |
| HAPN Happen Inc. | New | 0.52% | +0.52 |
| LFMD Lifemd Inc. | New | 0.52% | +0.52 |
| DAVE Dave Inc. | New | 0.51% | +0.51 |
| ZG Zillow Group Inc. Class A | New | 0.46% | +0.46 |
| UMAC Unusual Machines Inc. | Add +1.1% | 1.04% | +0.45 |
| VIR Vir Biotechnology Inc. | New | 0.40% | +0.40 |
| ATLX Atlas Lithium Inc. | New | 0.37% | +0.37 |
| SNDL SNDL Inc. | New | 0.37% | +0.37 |
| SLP Simulations Plus Inc. | New | 0.35% | +0.35 |
| CABO Cable One Inc. | New | 0.35% | +0.35 |
| NUVB Nuvation Bio Inc. | New | 0.34% | +0.34 |
| SHUTTLE PHARMACTCLS HLDGS IN | New | 0.33% | +0.33 |
| ACHR Archer Aviation Inc. Class A | New | 0.32% | +0.32 |
| CPOP Pop Culture Group Co. Ltd. Class A | New | 0.30% | +0.30 |
| FBTC Fidelity Wise Origin Bitcoin | New | 0.29% | +0.29 |
| ETHA iShares Ethereum Trust ETF | New | 0.29% | +0.29 |
| ACOG Alpha Cognition Inc. | New | 0.29% | +0.29 |
| RING iShares MSCI Global Gold Min | New | 0.28% | +0.28 |
| SSTI Soundthinking Inc. | New | 0.27% | +0.27 |
| EVTL Vertical Aerospace Ltd. | New | 0.24% | +0.24 |
| HUDSON PAC PPTYS INC | New | 0.22% | +0.22 |
| DPRO Draganfly Inc. | New | 0.18% | +0.18 |
| RBOT Vicarious Surgical Inc. Class A | New | 0.16% | +0.16 |
| UCO Proshares Ultra Bloomberg CR | New | 0.15% | +0.15 |
| SNAL Snail Inc. | New | 0.15% | +0.15 |
| PR Permian Resources Corp. Class A | New | 0.14% | +0.14 |
| XTAIF Xtao Inc. | New | 0.13% | +0.13 |
| TSPH Createai Holdings Inc. | New | 0.13% | +0.13 |
| DMRA Damora Therapeutics Inc. | New | 0.09% | +0.09 |
| PTIX Protagenic Therapeutics Inc. | New | 0.09% | +0.09 |
| RBNE Robin Energy Ltd. | New | 0.07% | +0.07 |
| MELI MercadoLibre Inc. | Add +15.6% | 3.07% | +0.05 |
| SPPL Simpple Ltd. | New | 0.04% | +0.04 |
| LSTA Lisata Therapeutics Inc. | New | 0.00% | +0.00 |
| AUID Authid Inc. | Add +59.1% | 0.35% | −0.02 |
| BEEP Mobile Infrastructure Corp. | Add +10.8% | 0.20% | −0.04 |
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 |