Instuitional Investor - Connective Portfolio Management, Llc

13F Holdings

Filing Period:

No.	Security	Ticker	Shares	Value	% Port
1.	Ishares Trust	IAU	47,029	$4,146,077	11.23%
2.	Sprott Physical Gold Trust	PHYS	85,000	$3,287,199	8.9%
3.	Petrobras - Petroleo Brasileiro Sa	PBR	140,200	$2,909,150	7.88%
4.	Ishares Trust	IEF	50,000	$2,839,500	7.69%
5.	Shell Plc	SHEL	30,195	$2,808,135	7.6%