SEC 13F Intelligence

Managers / Q4 2025 · view latest →

Connective Portfolio Management, LLC

CIK 0001905083 · 630 THIRD AVENUE, 21ST FLOOR, NEW YORK, NY, 10017 · 212-332-7932

Reported Value
$55M
Q4 2025
Positions
38
Filings on Record
19
2022–present window
Filed
Jan 12, 2026
original filing

Summary

Connective Portfolio Management, LLC reported $55M in U.S.-listed holdings across 38 positions for Q4 2025.

Its largest position, IAU, represents 9.1% of the portfolio.

Compared with Q3 2025, the fund opened 14 new positions and exited 14.

Portfolio Metrics

Turnover
+39.5%
vs prior filed quarter
Top-10 Concentration
+53.0%
share of reported value
Largest Position
+9.1%
Ishares Gold Tr
New / Exited
14 / 14
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded, with multiple share classes and repeated sub-manager rows for the same issuer combined into one position — the same rule the holdings table uses by default. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’21: $57MQ4 ’21Q1 ’22: $47MQ2 ’22: $58MQ3 ’22: $31MQ3 ’22Q4 ’22: $47MQ1 ’23: $32MQ2 ’23: $40MQ2 ’23Q3 ’23: $33MQ4 ’23: $49MQ1 ’24: $57MQ1 ’24Q2 ’24: $62MQ3 ’24: $57MQ4 ’24: $67MQ4 ’24Q1 ’25: $30MQ2 ’25: $47MQ3 ’25: $57MQ3 ’25Q4 ’25: $55MQ1 ’26: $37MQ2 ’26: $60MQ2 ’26filingsflow.com

Portfolio Composition

By security type
Common Stock: 66.5%ETP: 27.1%ADR: 6.4%
  • Common Stock · 66.5% · $37M
  • ETP · 27.1% · $15M
  • ADR · 6.4% · $4M

Quarter-over-Quarter Changes full breakdown →

vs Q3 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
GOOGLALPHABET INCNEW+10.1K10.1K+$3M$3M
SHELSHELL PLCNEW+30.2K30.2K+$2M$2M
XLVSELECT SECTOR SPDR TRNEW+13.0K13.0K+$2M$2M
INTCINTEL CORPNEW+51.0K51.0K+$2M$2M
PLPLANET LABS PBCNEW+80.0K80.0K+$2M$2M
GMGENERAL MTRS CONEW+16.0K16.0K+$1M$1M
BLKBLACKROCK INCNEW+1.1K1.1K+$1M$1M
NOKNOKIA CORPNEW+165.0K165.0K+$1M$1M

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q4 2025

37 positions (from 38 filing rows — )
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1IAUISHARES GOLD TRhistory →ISHARES NEW9.07%$5M62.0K
2GLDSPDR GOLD TRhistory →GOLD SHS6.76%$4M9.5K
3GOOGLALPHABET INChistory →CAP STK CL A5.70%$3M10.1K
4NVDANVIDIA CORPORATIONhistory →COM5.54%$3M16.5K
5SPROTT ASSET MANAGEMENT LPPHYSICAL GOLD TR5.06%$3M85.0K
6EEMISHARES TRhistory →MSCI EMG MKT ETF4.55%$3M46.1K
7MSFTMICROSOFT CORPhistory →COM4.38%$2M5.0K
8JPMJPMORGAN CHASE & CO.history →COM4.34%$2M7.5K
9SHELSHELL PLChistory →SPON ADS4.00%$2M30.2K
10XLVSELECT SECTOR SPDR TRhistory →STATE STREET HEA3.63%$2M13.0K
11INTCINTEL CORPhistory →COM3.39%$2M51.0K
12AAPLAPPLE INChistory →COM3.19%$2M6.5K
13EWZISHARES INCMSCI BRAZIL ETF · CORE MSCI EMKT3.05%$2M41.0K
14PLPLANET LABS PBChistory →COM CL A2.84%$2M80.0K
15CCITIGROUP INChistory →COM NEW2.77%$2M13.2K
16AVGOBROADCOM INChistory →COM2.68%$1M4.3K
17GMGENERAL MTRS COhistory →COM2.34%$1M16.0K
18BLKBLACKROCK INChistory →COM2.12%$1M1.1K
19CVXCHEVRON CORP NEWhistory →COM2.03%$1M7.4K
20RKLBROCKET LAB CORPhistory →COM2.01%$1M16.0K
21ECHOECHOSTAR CORPhistory →CL A1.96%$1M10.0K
22NOKNOKIA CORPhistory →SPONSORED ADR1.92%$1M165.0K
23PLTRPALANTIR TECHNOLOGIES INChistory →CL A1.61%$892,3055.0K
24WDCWESTERN DIGITAL CORPhistory →COM1.55%$861,3505.0K
25NTRANATERA INChistory →COM1.40%$778,9063.4K
26STXSEAGATE TECHNOLOGY HLDNGS PLhistory →ORD SHS1.39%$771,0922.8K
27UNHUNITEDHEALTH GROUP INChistory →COM1.37%$759,2532.3K
28GHGUARDANT HEALTH INChistory →COM1.29%$714,9807.0K
29MAMASTERCARD INCORPORATEDhistory →CL A1.27%$705,0371.2K
30SNOWSNOWFLAKE INChistory →COM SHS1.11%$614,2082.8K
31CATCATERPILLAR INChistory →COM1.03%$572,8701.0K
32PWRQUANTA SVCS INCCOM0.99%$550,7881.3K
33PGPROCTER AND GAMBLE COCOM0.97%$538,8463.8K
34RKTROCKET COS INCCOM CL A0.91%$503,36026.0K
35CMGCHIPOTLE MEXICAN GRILL INCCOM0.86%$476,37512.9K
36LEGNLEGEND BIOTECH CORPSPONSORED ADS0.49%$271,75012.5K
37CRCLCIRCLE INTERNET GROUP INCCOM CL A0.43%$237,9003.0K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q2 2026$60M39Jul 7, 202613F-HRchanges · EDGAR ↗
Q1 2026$37M25Apr 16, 202613F-HRchanges · EDGAR ↗
Q4 2025$55M38Jan 12, 202613F-HRchanges · EDGAR ↗
Q3 2025$57M38Oct 16, 202513F-HRchanges · EDGAR ↗
Q2 2025$47M30Jul 9, 202513F-HRchanges · EDGAR ↗
Q1 2025$30M25Apr 22, 202513F-HRchanges · EDGAR ↗
Q4 2024$67M55Jan 14, 202513F-HRchanges · EDGAR ↗
Q3 2024$57M42Oct 8, 202413F-HRchanges · EDGAR ↗
Q2 2024$62M46Jul 30, 202413F-HRchanges · EDGAR ↗
Q1 2024$57M46Apr 30, 202413F-HRchanges · EDGAR ↗
Q4 2023$49M39Jan 17, 202413F-HRchanges · EDGAR ↗
Q3 2023$33M34Oct 19, 202313F-HRchanges · EDGAR ↗
Q2 2023$40M43Jul 17, 202313F-HRchanges · EDGAR ↗
Q1 2023$32M30Apr 17, 202313F-HRchanges · EDGAR ↗
Q4 2022$47M49Jan 25, 202313F-HRchanges · EDGAR ↗
Q3 2022$31M35Oct 26, 202213F-HRchanges · EDGAR ↗
Q2 2022$58M48Jul 18, 202213F-HRchanges · EDGAR ↗
Q1 2022$47M39Apr 12, 202213F-HRchanges · EDGAR ↗
Q4 2021$57M51Feb 7, 202213F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.