Connective Portfolio Management, LLC
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed April 16, 2026), Connective Portfolio Management, LLC reported 25 stock positions worth $36.9 million. Its top holding was iShares Gold Trust (IAU) at 11.2% of the portfolio, followed by Sprott Physical Gold Trust (PHYS, 8.9%) and Petroleo Brasileiro-Spon ADR (PBR, 7.9%). Compared with Q4 2025, it opened 9 new positions, sold out of 22, added to 2 and reduced 7. The biggest buy was a new position in Petroleo Brasileiro-Spon ADR (PBR) and the biggest sale an exit from Alphabet Class A (GOOGL).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001905083
- Portfolio Value
- $36.9M (Q1 2026)
- SEC Filing
- 0001905083-26-000002 ↗ filed Apr 16, 2026
Holdings Value
Holdings 25 stocks · $36.9M
| IAU iShares Gold Trust | 11.23% | 47,029 | $4.1M | Reduce -24.2% |
| PHYS Sprott Physical Gold Trust | 8.90% | 85,000 | $3.3M | No change |
| PBR Petroleo Brasileiro-Spon ADR | 7.88% | 140,200 | $2.9M | New |
| EEM iShares MSCI Emerging Market | 7.69% | 50,000 | $2.8M | Add +8.4% |
| SHEL Shell PLC-ADR | 7.60% | 30,195 | $2.8M | No change |
| GLD SPDR Gold Shares | 6.89% | 5,915 | $2.5M | Reduce -37.5% |
| NVDA Nvidia Corp. | 5.42% | 11,475 | $2.0M | Reduce -30.4% |
| MSFT Microsoft Corp. | 5.04% | 5,024 | $1.9M | No change |
| CVX Chevron Corp. | 4.31% | 7,699 | $1.6M | Add +4.0% |
| BHP BHP Group Ltd.-Spon ADR filed as BHP BILLITON LIMITED | 3.94% | 20,000 | $1.5M | New |
| AVGO Broadcom Inc. | 3.60% | 4,295 | $1.3M | No change |
| JPM JPMorgan Chase & Co. | 3.17% | 3,980 | $1.2M | Reduce -46.8% |
| NXE Nexgen Energy Ltd. | 2.91% | 93,000 | $1.1M | New |
| RKLB Rocket Lab Corp. | 2.78% | 16,000 | $1.0M | No change |
| XLV SS Health Care Select Sector | 2.78% | 7,000 | $1.0M | Reduce -46.1% |
| CCJ Cameco Corp. | 2.73% | 9,300 | $1.0M | New |
| MDA Mda Space Ltd. | 2.13% | 31,000 | $785K | New |
| PL Planet Labs PBC | 1.82% | 24,000 | $671K | Reduce -70.0% |
| PWR Quanta Services Inc. | 1.77% | 1,194 | $656K | Reduce -8.5% |
| PAM Pampa Energia SA-Spon ADR | 1.68% | 7,000 | $620K | New |
| MA Mastercard Inc. Class A | 1.67% | 1,235 | $617K | No change |
| ALM Almonty Industries Inc. | 1.18% | 30,000 | $434K | New |
| CMG Chipotle Mexican Grill Inc. | 1.12% | 12,875 | $412K | No change |
| HL Hecla Mining Co. | 0.96% | 19,000 | $354K | New |
| ABVX Abivax SA-ADR | 0.81% | 2,700 | $301K | New |
Portfolio Sells Q4 2025 → Q1 2026
| GOOGL Alphabet Inc. Class A | Sold out | 0.00% | −5.70 |
| INTC Intel Corp. | Sold out | 0.00% | −3.39 |
| AAPL Apple Inc. | Sold out | 0.00% | −3.19 |
| C Citigroup Inc. | Sold out | 0.00% | −2.77 |
| GM General Motors Co. | Sold out | 0.00% | −2.34 |
| BLK BlackRock Inc. | Sold out | 0.00% | −2.12 |
| ECHO Echostar Corp. Class A | Sold out | 0.00% | −1.96 |
| NOK Nokia Corp.-Spon ADR | Sold out | 0.00% | −1.92 |
| EWZ iShares MSCI Brazil ETF | Sold out | 0.00% | −1.72 |
| PLTR Palantir Technologies Inc. Class A | Sold out | 0.00% | −1.61 |
| WDC Western Digital Corp. | Sold out | 0.00% | −1.55 |
| NTRA Natera Inc. | Sold out | 0.00% | −1.40 |
| STX Seagate Technology Holdings | Sold out | 0.00% | −1.39 |
| UNH Unitedhealth Group Inc. | Sold out | 0.00% | −1.37 |
| IEMG iShares Core MSCI Emerging | Sold out | 0.00% | −1.33 |
| GH Guardant Health Inc. | Sold out | 0.00% | −1.29 |
| JPM JPMorgan Chase & Co. | Reduce -46.8% | 3.17% | −1.17 |
| SNOW Snowflake Inc. | Sold out | 0.00% | −1.11 |
| CAT Caterpillar Inc. | Sold out | 0.00% | −1.03 |
| PL Planet Labs PBC | Reduce -70.0% | 1.82% | −1.03 |
| PG The Procter & Gamble Co. | Sold out | 0.00% | −0.97 |
| RKT Rocket Cos Inc. Class A | Sold out | 0.00% | −0.91 |
| XLV SS Health Care Select Sector | Reduce -46.1% | 2.78% | −0.85 |
| LEGN Legend Biotech Corp.-ADR | Sold out | 0.00% | −0.49 |
| CRCL Circle Internet Group Inc. | Sold out | 0.00% | −0.43 |
| NVDA Nvidia Corp. | Reduce -30.4% | 5.42% | −0.12 |
| GLD SPDR Gold Shares | Reduce -37.5% | 6.89% | +0.13 |
| PWR Quanta Services Inc. | Reduce -8.5% | 1.77% | +0.78 |
| IAU iShares Gold Trust | Reduce -24.2% | 11.23% | +2.15 |
Portfolio Buys Q4 2025 → Q1 2026
| PBR Petroleo Brasileiro-Spon ADR | New | 7.88% | +7.88 |
| BHP BHP Group Ltd.-Spon ADR | New | 3.94% | +3.94 |
| EEM iShares MSCI Emerging Market | Add +8.4% | 7.69% | +3.14 |
| NXE Nexgen Energy Ltd. | New | 2.91% | +2.91 |
| CCJ Cameco Corp. | New | 2.73% | +2.73 |
| CVX Chevron Corp. | Add +4.0% | 4.31% | +2.28 |
| MDA Mda Space Ltd. | New | 2.13% | +2.13 |
| PAM Pampa Energia SA-Spon ADR | New | 1.68% | +1.68 |
| ALM Almonty Industries Inc. | New | 1.18% | +1.18 |
| HL Hecla Mining Co. | New | 0.96% | +0.96 |
| ABVX Abivax SA-ADR | New | 0.81% | +0.81 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 39 | $60.1M | RKLB, C, JPM, IAU, PBR |
| Q1 2026 | 25 | $36.9M | IAU, PHYS, PBR, EEM, SHEL |
| Q4 2025 | 38 | $55.5M | IAU, GLD, GOOGL, NVDA, PHYS |
| Q3 2025 | 38 | $56.6M | IAU, MSFT, EEM, GLD, ORCL |
| Q2 2025 | 30 | $46.7M | IAU, MSFT, IBM, NVDA, GLD |
| Q1 2025 | 25 | $29.6M | IAU, GLD, UBER, MSFT, NOK |
| Q4 2024 | 55 | $67.2M | NVDA, HD, IEUR, XLE, AVGO |
| Q3 2024 | 42 | $56.6M | VRT, NVDA, VIST, WMT, REGN |
| Q2 2024 | 46 | $61.5M | NVDA, META, QCOM, AMAT, MSFT |
| Q1 2024 | 46 | $56.8M | NVDA, MSFT, AVGO, DIS, NFLX |