Connective Capital Management, LLC
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 19, 2026), Connective Capital Management, LLC reported 53 stock positions worth $170.2 million. Its top holding was Vanguard S&P 500 ETF (VOO) at 47.9% of the portfolio, followed by Invesco QQQ Trust Series 1 (QQQ, 11.8%) and Intuitive Surgical (ISRG, 7.8%). Compared with Q3 2025, it opened 22 new positions, sold out of 38, added to 9 and reduced 6. The biggest buy was a new position in Vanguard S&P 500 ETF (VOO) and the biggest sale an exit from Broadcom (AVGO).
- Most Recent 13F
- Q2 2026
- Location
- PALO ALTO, CA
- CIK
- 0001543568
- Portfolio Value
- $170.2M (Q4 2025)
- SEC Filing
- 0001543568-26-000006 ↗ filed Feb 19, 2026
Holdings Value
Holdings 53 stocks · $170.2M
| VOO Vanguard S&P 500 ETF | 47.93% | 130,110 | $81.6M | New |
| QQQ Invesco QQQ Trust Series 1 | 11.80% | 32,694 | $20.1M | Add +34.6% |
| ISRG Intuitive Surgical Inc. | 7.78% | 23,392 | $13.2M | Add +6.7% |
| QLD Proshares Ultra QQQ | 4.38% | 105,918 | $7.5M | No change |
| MSFT Microsoft Corp. | 4.08% | 14,354 | $6.9M | No change |
| AAPL Apple Inc. | 3.09% | 19,379 | $5.3M | No change |
| IWO iShares Russell 2000 Growth | 2.55% | 13,453 | $4.3M | No change |
| CCJ Cameco Corp. | 2.42% | 45,029 | $4.1M | No change |
| MELI MercadoLibre Inc. | 1.69% | 1,430 | $2.9M | No change |
| AMZN Amazon.com Inc. | 1.26% | 9,295 | $2.1M | No change |
| SPOT Spotify Technology SA | 1.00% | 2,939 | $1.7M | No change |
| GLD SPDR Gold Shares | 0.78% | 3,346 | $1.3M | New |
| NFLX Netflix Inc. | 0.70% | 12,640 | $1.2M | No change |
| EVTL Vertical Aerospace Ltd. | 0.64% | 203,408 | $1.1M | Add +302.5% |
| META Meta Platforms Inc. Class A | 0.61% | 1,579 | $1.0M | Reduce -64.0% |
| AMBA Ambarella Inc. | 0.60% | 14,516 | $1.0M | Add +4.2% |
| ACHR Archer Aviation Inc. Class A | 0.60% | 135,311 | $1.0M | Add +270.4% |
| IBKR Interactive Brokers Gro Class A | 0.59% | 15,656 | $1.0M | Reduce -8.3% |
| XBI SS SPDR S&P Biotech ETF | 0.57% | 8,013 | $977K | New |
| DOMH Dominari Holdings Inc. | 0.56% | 192,816 | $954K | Reduce -42.5% |
| GDXJ Vaneck Junior Gold Miners | 0.55% | 8,294 | $944K | New |
| DBGI Digital Brands Group Inc. | 0.51% | 69,103 | $876K | New |
| PROF Profound Medical Corp. | 0.46% | 100,000 | $787K | New |
| ONDS Ondas Inc. filed as ONDAS HLDGS INC | 0.39% | 68,487 | $668K | New |
| BYRN Byrna Technologies Inc. | 0.38% | 38,729 | $650K | New |
| SNPS Synopsys Inc. | 0.38% | 1,383 | $650K | No change |
| GDX Vaneck Gold Miners ETF | 0.32% | 6,310 | $541K | New |
| SIVR Abrdn Physical Silver Shares | 0.27% | 6,849 | $463K | New |
| VPG Vishay Precision Group | 0.27% | 11,885 | $458K | New |
| KDK Kodiak AI Inc. | 0.26% | 39,841 | $435K | New |
| UMAC Unusual Machines Inc. | 0.24% | 31,715 | $404K | Reduce -57.7% |
| CEG Constellation Energy | 0.19% | 904 | $319K | New |
| FBTC Fidelity Wise Origin Bitcoin | 0.18% | 3,960 | $302K | Add +23.9% |
| ETHA iShares Ethereum Trust ETF | 0.17% | 12,883 | $289K | Add +28.6% |
| SOPAQ Society Pass Inc. | 0.17% | 74,088 | $282K | New |
| LIDR Aeye Inc. | 0.15% | 138,987 | $256K | New |
| GVH Globavend Holdings Ltd. | 0.15% | 175,827 | $253K | New |
| CABO Cable One Inc. | 0.14% | 2,144 | $242K | No change |
| JEF Jefferies Financial Group Inc. | 0.14% | 3,820 | $237K | Reduce -86.4% |
| TLSI Trisalus Life Sciences Inc. | 0.13% | 32,796 | $229K | No change |
| SIDU Sidus Space Inc. Class A | 0.13% | 70,000 | $220K | New |
| ANTA Antalpha Platform Hldng Co. Class A | 0.11% | 21,469 | $191K | No change |
| BEEP Mobile Infrastructure Corp. | 0.11% | 74,507 | $190K | Add +22.2% |
| IMUX Immunic Inc. | 0.09% | 301,296 | $161K | New |
| DEFT Defi Technologies Inc. | 0.08% | 182,816 | $138K | New |
| SNAL Snail Inc. | 0.08% | 154,523 | $137K | Add +6.4% |
| SEV Aptera Motors Corp. Class B | 0.08% | 31,718 | $136K | New |
| ONCY Oncolytics Biotech Inc. | 0.08% | 150,340 | $131K | New |
| XTAIF Xtao Inc. | 0.04% | 139,000 | $74K | Reduce -5.4% |
| TSPH Createai Holdings Inc. | 0.04% | 332,473 | $69K | No change |
| RBOT Vicarious Surgical Inc. Class A | 0.04% | 30,649 | $67K | No change |
| PPTA Perpetua Resources Corp. | 0.01% | 500 | $12K | New |
| LSTA Lisata Therapeutics Inc. | 0.00% | 1,016 | $2K | No change |
Other holdings (4): bonds, preferreds, convertibles and warrants · $22K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| ABVWF Above Food Ingredients- 29 | *W EXP 06/28/202 | 24,999 | $9K | No change |
| CLSKW Cleanspark Inc.-29 | *W EXP 12/29/202 | 17,500 | $6K | No change |
| MDCXW Medicus Pharma Ltd. -29 | *W EXP 11/15/202 | 6,000 | $5K | No change |
| MOBXW Chavrant Capital Acq -CW23 | *W EXP 12/21/202 | 22,397 | $2K | No change |
Total filed on the 13F, all lines: $170.3M.
Portfolio Sells Q3 2025 → Q4 2025
| AVGO Broadcom Inc. | Sold out | 0.00% | −7.05 |
| META Meta Platforms Inc. Class A | Reduce -64.0% | 0.61% | −2.35 |
| COST Costco Wholesale Corp. | Sold out | 0.00% | −2.24 |
| AMD Advanced Micro Devices | Sold out | 0.00% | −1.94 |
| BABA Alibaba Group Holding-SP ADR | Sold out | 0.00% | −1.93 |
| CRWD CrowdStrike Holdings Inc. Class A | Sold out | 0.00% | −1.89 |
| DOMH Dominari Holdings Inc. | Reduce -42.5% | 0.56% | −1.62 |
| GOOGL Alphabet Inc. Class A | Sold out | 0.00% | −1.58 |
| JEF Jefferies Financial Group Inc. | Reduce -86.4% | 0.14% | −1.55 |
| RDDT Reddit Inc. Class A | Sold out | 0.00% | −1.46 |
| DASH DoorDash Inc. Class A | Sold out | 0.00% | −1.46 |
| ZM Zoom Communications Inc. | Sold out | 0.00% | −1.04 |
| TWLO Twilio Inc. Class A | Sold out | 0.00% | −0.80 |
| UMAC Unusual Machines Inc. | Reduce -57.7% | 0.24% | −0.80 |
| SEZL Sezzle Inc. | Sold out | 0.00% | −0.68 |
| RKT Rocket Cos Inc. Class A | Sold out | 0.00% | −0.62 |
| VVOS Vivos Therapeutics Inc. | Sold out | 0.00% | −0.57 |
| OCEAN POWER TECHNOLOGIES INC | Sold out | 0.00% | −0.54 |
| HAPN Happen Inc. | Sold out | 0.00% | −0.52 |
| LFMD Lifemd Inc. | Sold out | 0.00% | −0.52 |
| DAVE Dave Inc. | Sold out | 0.00% | −0.51 |
| IBKR Interactive Brokers Gro Class A | Reduce -8.3% | 0.59% | −0.49 |
| ZG Zillow Group Inc. Class A | Sold out | 0.00% | −0.46 |
| VIR Vir Biotechnology Inc. | Sold out | 0.00% | −0.40 |
| ATLX Atlas Lithium Inc. | Sold out | 0.00% | −0.37 |
| SNDL SNDL Inc. | Sold out | 0.00% | −0.37 |
| AUID Authid Inc. | Sold out | 0.00% | −0.35 |
| SLP Simulations Plus Inc. | Sold out | 0.00% | −0.35 |
| NUVB Nuvation Bio Inc. | Sold out | 0.00% | −0.34 |
| SHUTTLE PHARMACTCLS HLDGS IN | Sold out | 0.00% | −0.33 |
| CPOP Pop Culture Group Co. Ltd. Class A | Sold out | 0.00% | −0.30 |
| ACOG Alpha Cognition Inc. | Sold out | 0.00% | −0.29 |
| RING iShares MSCI Global Gold Min | Sold out | 0.00% | −0.28 |
| SSTI Soundthinking Inc. | Sold out | 0.00% | −0.27 |
| HUDSON PAC PPTYS INC | Sold out | 0.00% | −0.22 |
| VTVT VTV Therapeutics Inc. Class A | Sold out | 0.00% | −0.21 |
| DPRO Draganfly Inc. | Sold out | 0.00% | −0.18 |
| UCO Proshares Ultra Bloomberg CR | Sold out | 0.00% | −0.15 |
| PR Permian Resources Corp. Class A | Sold out | 0.00% | −0.14 |
| DMRA Damora Therapeutics Inc. | Sold out | 0.00% | −0.09 |
| PTIX Protagenic Therapeutics Inc. | Sold out | 0.00% | −0.09 |
| XTAIF Xtao Inc. | Reduce -5.4% | 0.04% | −0.09 |
| RBNE Robin Energy Ltd. | Sold out | 0.00% | −0.07 |
| SPPL Simpple Ltd. | Sold out | 0.00% | −0.04 |
Portfolio Buys Q3 2025 → Q4 2025
| VOO Vanguard S&P 500 ETF | New | 47.93% | +47.93 |
| GLD SPDR Gold Shares | New | 0.78% | +0.78 |
| XBI SS SPDR S&P Biotech ETF | New | 0.57% | +0.57 |
| GDXJ Vaneck Junior Gold Miners | New | 0.55% | +0.55 |
| DBGI Digital Brands Group Inc. | New | 0.51% | +0.51 |
| PROF Profound Medical Corp. | New | 0.46% | +0.46 |
| EVTL Vertical Aerospace Ltd. | Add +302.5% | 0.64% | +0.40 |
| ONDS Ondas Inc. | New | 0.39% | +0.39 |
| BYRN Byrna Technologies Inc. | New | 0.38% | +0.38 |
| GDX Vaneck Gold Miners ETF | New | 0.32% | +0.32 |
| ACHR Archer Aviation Inc. Class A | Add +270.4% | 0.60% | +0.28 |
| SIVR Abrdn Physical Silver Shares | New | 0.27% | +0.27 |
| VPG Vishay Precision Group | New | 0.27% | +0.27 |
| KDK Kodiak AI Inc. | New | 0.26% | +0.26 |
| CEG Constellation Energy | New | 0.19% | +0.19 |
| SOPAQ Society Pass Inc. | New | 0.17% | +0.17 |
| LIDR Aeye Inc. | New | 0.15% | +0.15 |
| GVH Globavend Holdings Ltd. | New | 0.15% | +0.15 |
| SIDU Sidus Space Inc. Class A | New | 0.13% | +0.13 |
| IMUX Immunic Inc. | New | 0.09% | +0.09 |
| DEFT Defi Technologies Inc. | New | 0.08% | +0.08 |
| SEV Aptera Motors Corp. Class B | New | 0.08% | +0.08 |
| ONCY Oncolytics Biotech Inc. | New | 0.08% | +0.08 |
| PPTA Perpetua Resources Corp. | New | 0.01% | +0.01 |
| SNAL Snail Inc. | Add +6.4% | 0.08% | −0.06 |
| BEEP Mobile Infrastructure Corp. | Add +22.2% | 0.11% | −0.09 |
| FBTC Fidelity Wise Origin Bitcoin | Add +23.9% | 0.18% | −0.12 |
| ETHA iShares Ethereum Trust ETF | Add +28.6% | 0.17% | −0.12 |
| AMBA Ambarella Inc. | Add +4.2% | 0.60% | −0.45 |
| ISRG Intuitive Surgical Inc. | Add +6.7% | 7.78% | −1.22 |
| QQQ Invesco QQQ Trust Series 1 | Add +34.6% | 11.80% | −1.59 |
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 |