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Livermore
Livermore
ZHEN

Connective Capital Management, LLC

SEC CIK
0001543568
Latest filing
Aug 13, 2026

The latest 13F from Connective Capital Management, LLC covers Q2 2026 (filed Aug 13, 2026): 70 long positions worth $141.9M. The top 10 holdings make up 68.5% of the portfolio, and the largest is Invesco QQQ Trust Series I at 25.2%. Livermore has 17 filings on Form 13F from this institution, going back to Q4 2022.

What changed in Q2 2026

Share counts compared with Q1 2026: how many positions were new, added to, reduced or sold out, and the biggest buys and sells. Dollar amounts are estimated at the quarter-end prices implied by the filing.

Full comparison
New
30
Est. +$16.4M
Added
13
Est. +$33.9M
Reduced
4
Est. −$5.75M
Sold out
26
Est. −$39.9M

Top 5 holdings

Share of this quarter's portfolio value

  1. Invesco QQQ Trust Series I46090E103
    25.2%$35.8M
  2. ProShares Tr74347R206
    7.2%$10.2M
  3. ISRGIntuitive Surgical Inc
    6.6%$9.30MHistory
  4. AMDAdvanced Micro Devices Inc
    5.0%$7.08MHistory
  5. TSMTaiwan Semiconductor Manufacturing Co Ltd
    4.4%$6.30MHistory

Biggest buys

New and added positions, by estimated amount bought

  1. Invesco QQQ Trust Series I46090E103
    +$9.46MAdded
  2. AMDAdvanced Micro Devices Inc
    +$6.38MAddedHistory
  3. TSMTaiwan Semiconductor Manufacturing Co Ltd
    +$6.30MNewHistory
  4. NVDANVIDIA Corp
    +$5.49MAddedHistory
  5. AVGOBroadcom Inc.
    +$5.36MAddedHistory

Largest weight increases

New and added positions, by percentage points of the portfolio gained

  1. Invesco QQQ Trust Series I46090E103
    +8.18 pp17.1% → 25.2%
  2. AMDAdvanced Micro Devices Inc
    +4.79 pp0.2% → 5.0%History
  3. TSMTaiwan Semiconductor Manufacturing Co Ltd
    +4.44 pp0.0% → 4.4%History
  4. NVDANVIDIA Corp
    +3.86 pp0.2% → 4.1%History
  5. AVGOBroadcom Inc.
    +3.79 pp0.2% → 4.0%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. PANWPalo Alto Networks Inc
    −$4.75MSold outHistory
  2. SHOPShopify Inc.
    −$4.62MSold outHistory
  3. MPWRMonolithic Power Systems, Inc.
    −$4.49MSold outHistory
  4. KLACKLA Corp
    −$4.34MSold outConverted for a 10-for-1 splitHistory
  5. ARMArm Holdings PLC
    −$4.33MSold outHistory

Largest weight decreases

Reduced and sold-out positions, by percentage points of the portfolio lost

  1. PANWPalo Alto Networks Inc
    −3.92 pp3.9% → 0.0%History
  2. SHOPShopify Inc.
    −3.81 pp3.8% → 0.0%History
  3. MPWRMonolithic Power Systems, Inc.
    −3.71 pp3.7% → 0.0%History
  4. KLACKLA Corp
    −3.58 pp3.6% → 0.0%History
  5. ARMArm Holdings PLC
    −3.58 pp3.6% → 0.0%History

Metrics

13F metrics for Q2 2026, computed only from the numbers in the filings. Definitions below.

Portfolio value
$141.9M
+$20.8M (+17.2%) vs. prior quarter
Positions
70
+4 vs. prior quarter
Top 10 concentration
68.5%
Top 10 as share of value
Turnover
34.7%
Q2 2026, one quarter
Average holding period
6.3 quarters
Weighted by value

How these are calculated

  • Portfolio value: the market value of all long positions in the 13F, as reported at quarter end, excluding options.
  • Top 10 concentration: the combined value of the 10 largest positions as a share of portfolio value.
  • Turnover: the smaller of this quarter's estimated purchases and estimated sales, divided by the average of this and last quarter's portfolio value. Estimates multiply the change in shares by the quarter-end price implied by the filing (market value divided by shares); new positions use this quarter's value and sold-out positions last quarter's. Only positions reported in shares count, and it is not calculated when the previous quarter was not filed.
  • Average holding period: how many consecutive quarters each current position has been held (including this one; a quarter without the position or without a filing starts the count over), weighted by this quarter's value. Counting starts with the first 13F in Livermore (Q4 2022), so positions held before then are understated.

13F filings by quarter

15 quarters, going back to Q4 2022. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $275.6M (Q4 2022)

Q4 2022: $275.6MQ1 2023: $67.5MQ2 2023: $85.8MQ3 2023: $43.8MQ4 2023: $117.7MQ1 2024: $63.4MQ2 2024: $53.2MQ3 2024: $107.7MQ4 2024: $85.9MQ1 2025: $108.6MQ2 2025: $107.0MQ3 2025: $108.9MQ4 2025: $170.3MQ1 2026: $121.1MQ2 2026: $141.9M
Q4 2022Q2 2026
13F filings of Connective Capital Management, LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Aug 13, 202670$141.9MInvesco QQQ Trust Series IProShares TrISRGvs. Q1 2026SEC
Q1 2026May 13, 202666$121.1MInvesco QQQ Trust Series IISRGProShares Trvs. Q4 2025SEC
Q4 2025Feb 19, 202657$170.3MVanguard S&P 500 ETFInvesco QQQ Trust Series IISRGvs. Q3 2025SEC
Q3 2025Nov 17, 202573$108.9MInvesco QQQ Trust Series IISRGAVGOvs. Q2 2025SEC
Q2 2025Aug 13, 202550$107.0MISRGInvesco QQQ Trust Series IMSFTvs. Q1 2025SEC
Q1 2025May 14, 202547$108.6MInvesco QQQ Trust Series IISRGSPYvs. Q4 2024SEC
Q4 2024Feb 18, 202568$85.9MISRGGLNGMSFTvs. Q3 2024SEC
Q3 2024Nov 14, 202437$107.7MInvesco QQQ Trust Series IISRGMSFTvs. Q2 2024SEC
Q2 2024Aug 19, 2024Amended31$53.2MMSFTAAPLProShares Trvs. Q1 2024SEC
Q1 2024May 16, 2024Amended24$63.4MISRGMSFTiShares Russell 2000 ETFvs. Q4 2023SEC
Q4 2023May 17, 2024101$117.7MDirexion Shs ETF TrMSFTCCJvs. Q3 2023SEC
Q3 2023May 17, 202430$43.8MMSFTAAPLCameco Corpvs. Q2 2023SEC
Q2 2023May 17, 202444$85.8MInvesco QQQ Trust Series IISRGCCJvs. Q1 2023SEC
Q1 2023May 17, 202436$67.5MInvesco QQQ Trust Series IISRGMSFTvs. Q4 2022SEC
Q4 2022May 17, 202455$275.6MiShares Core S&P 500 ETFInvesco Nasdaq 100 ETFInvesco QQQ Trust Series I–SEC