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Livermore
Livermore
ZHEN

Connective Portfolio Management, LLC

SEC CIK
0001905083
Latest filing
Jul 7, 2026

The latest 13F from Connective Portfolio Management, LLC covers Q2 2026 (filed Jul 7, 2026): 39 long positions worth $60.1M. The top 10 holdings make up 48.9% of the portfolio, and the largest is Rocket Lab Corp (RKLB) at 6.1%. Livermore has 19 filings on Form 13F from this institution, going back to Q4 2021.

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
22
Est. +$29.3M
Added
3
Est. +$5.05M
Reduced
2
Est. −$1.62M
Sold out
8
Est. −$8.25M

Top 5 holdings

Share of this quarter's portfolio value

  1. RKLBRocket Lab Corp
    6.1%$3.66MHistory
  2. CCitigroup Inc
    6.1%$3.64MHistory
  3. JPMJPMorgan Chase & Co
    6.0%$3.59MHistory
  4. IAUiShares Gold Trust
    5.9%$3.55MHistory
  5. PBRPetrobras - Petroleo Brasileiro SA
    5.0%$2.99MHistory

Biggest buys

New and added positions, by estimated amount bought

  1. CCitigroup Inc
    +$3.64MNewHistory
  2. iShares MSCI India ETF46429B598
    +$2.46MNew
  3. TSMTaiwan Semiconductor Manufacturing Co Ltd
    +$2.44MNewHistory
  4. JPMJPMorgan Chase & Co
    +$2.29MAddedHistory
  5. RKLBRocket Lab Corp
    +$2.03MAddedHistory

Largest weight increases

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

  1. CCitigroup Inc
    +6.06 pp0.0% → 6.1%History
  2. iShares MSCI India ETF46429B598
    +4.10 pp0.0% → 4.1%
  3. TSMTaiwan Semiconductor Manufacturing Co Ltd
    +4.06 pp0.0% → 4.1%History
  4. RKLBRocket Lab Corp
    +3.31 pp2.8% → 6.1%History
  5. SPCXSpace Exploration Technologies Corp
    +3.13 pp0.0% → 3.1%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. iShares Tr464287234
    −$2.84MSold out
  2. BHPBHP Group Ltd
    −$1.45MSold outHistory
  3. SHELShell plc
    −$1.32MReducedHistory
  4. NXENexGen Energy Ltd.
    −$1.08MSold outHistory
  5. CCJCameco Corp
    −$1.01MSold outHistory

Largest weight decreases

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

  1. iShares Tr464287234
    −7.69 pp7.7% → 0.0%
  2. SHELShell plc
    −5.90 pp7.6% → 1.7%History
  3. BHPBHP Group Ltd
    −3.94 pp3.9% → 0.0%History
  4. NXENexGen Energy Ltd.
    −2.91 pp2.9% → 0.0%History
  5. CCJCameco Corp
    −2.73 pp2.7% → 0.0%History

Metrics

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

Portfolio value
$60.1M
+$23.1M (+62.6%) vs. prior quarter
Positions
39
+14 vs. prior quarter
Top 10 concentration
48.9%
Top 10 as share of value
Turnover
20.4%
Q2 2026, one quarter
Average holding period
5.5 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 2021), so positions held before then are understated.

13F filings by quarter

19 quarters, going back to Q4 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $67.2M (Q4 2024)

Q4 2021: $56.9MQ1 2022: $45.4MQ2 2022: $58.3MQ3 2022: $31.0MQ4 2022: $46.9MQ1 2023: $31.5MQ2 2023: $40.3MQ3 2023: $32.9MQ4 2023: $49.1MQ1 2024: $56.8MQ2 2024: $61.5MQ3 2024: $51.1MQ4 2024: $67.2MQ1 2025: $29.6MQ2 2025: $46.7MQ3 2025: $56.6MQ4 2025: $55.5MQ1 2026: $36.9MQ2 2026: $60.1M
Q4 2021Q2 2026
13F filings of Connective Portfolio Management, LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Jul 7, 202639$60.1MRKLBCJPMvs. Q1 2026SEC
Q1 2026Apr 16, 202625$36.9MIAUPHYSPBRvs. Q4 2025SEC
Q4 2025Jan 12, 202638$55.5MIAUGLDGOOGLvs. Q3 2025SEC
Q3 2025Oct 16, 202538$56.6MIAUMSFTiShares Trvs. Q2 2025SEC
Q2 2025Jul 9, 202530$46.7MIAUMSFTIBMvs. Q1 2025SEC
Q1 2025Apr 22, 202525$29.6MIAUGLDUBERvs. Q4 2024SEC
Q4 2024Jan 14, 202555$67.2MNVDAHDiShares Core MSCI Europe ETFvs. Q3 2024SEC
Q3 2024Oct 8, 202442$51.1MVRTNVDAVISTvs. Q2 2024SEC
Q2 2024Jul 30, 202446$61.5MNVDAMETAQCOMvs. Q1 2024SEC
Q1 2024Apr 30, 202446$56.8MNVDAMSFTAVGOvs. Q4 2023SEC
Q4 2023Jan 17, 202439$49.1MBACMSFTState Street SPDR S&P Regional Banking ETFvs. Q3 2023SEC
Q3 2023Oct 19, 202334$32.9MNVDACOPMSFTvs. Q2 2023SEC
Q2 2023Jul 17, 202343$40.3MNVDATSLAMSFTvs. Q1 2023SEC
Q1 2023Apr 17, 202330$31.5MMSFTAVGOCRMvs. Q4 2022SEC
Q4 2022Jan 25, 202349$46.9MGILDiShares TrBABAvs. Q3 2022SEC
Q3 2022Oct 26, 202235$31.0MGTLSFSLRPLUGvs. Q2 2022SEC
Q2 2022Jul 18, 202248$58.3MMSFTiShares TrTSLAvs. Q1 2022SEC
Q1 2022Apr 12, 202239$45.4MTSLASQMGTLSvs. Q4 2021SEC
Q4 2021Feb 7, 202251$56.9MMSFTCVSTSLA–SEC