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HOLLENCREST CAPITAL MANAGEMENT

100 BAYVIEW CIRCLE, SUITE 500, NEWPORT BEACH, CA 92660 • 9498237744

Q2 2025 · Filed 2025-08-18
Market Value
$2.3B
+2.7%
Holdings
1,139
-18
New Purchases
84
Added To
191
Closed
77
Reduced
158
Top 10 Concentration
53.7%
Turnover
14.1%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
GDEC 1.66% 0.00% +1.66% $39M
VOO 15.22% 13.99% +1.23% $354M
GLD 1.08% 0.05% +1.03% $25M
MSFT 3.23% 2.45% +0.78% $75M
QQQM 4.18% 3.60% +0.58% $97M
QQQ 4.38% 3.84% +0.54% $102M
SPY 7.19% 6.76% +0.43% $168M
XLK 1.96% 1.64% +0.33% $46M
PPLT 1.22% 0.93% +0.29% $28M
VGT 1.69% 1.42% +0.27% $39M
GOOGL 2.40% 2.17% +0.23% $56M
NVDA 0.57% 0.34% +0.23% $13M
AVGO 0.24% 0.08% +0.16% $6M
AMZN 0.78% 0.62% +0.16% $18M
TSLA 0.88% 0.74% +0.14% $20M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
QBUF 0.00% 2.25% -2.25% $66K
UNH 1.82% 3.14% -1.32% $42M
SPXL 0.00% 1.21% -1.21% $66K
COWZ 0.00% 1.14% -1.14% $38K
AAPL 9.20% 10.25% -1.06% $214M
TUA 0.19% 1.09% -0.90% $5M
BRK-A 2.97% 3.35% -0.37% $69M
DPST 0.00% 0.30% -0.30% $31K
KIE 0.00% 0.30% -0.29% $13K
IAK 0.00% 0.21% -0.21% $0
UPS 1.60% 1.79% -0.19% $37M
OKE 0.53% 0.66% -0.13% $12M
FNF 0.63% 0.75% -0.12% $15M
BRK-B 0.63% 0.72% -0.09% $15M
IJR 0.02% 0.08% -0.06% $443K

Sector Allocation Over Time

Industry Breakdown

IndustryWeight
Financial Services 61.2%
Technology 16.3%
Consumer Cyclical 5.2%
Communication Services 4.3%
Consumer Defensive 4.0%

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 78 $1.5B 65.8%
Large Cap 522 $619M 26.6%
Mid Cap 250 $81M 3.5%
Small Cap 184 $53M 2.3%
Micro Cap 105 $43M 1.9%

Portfolio Analytics

Avg Market Cap
$81.6B
Median Market Cap
$11.7B
Avg P/E
31.4
Median P/E
21.0
Avg Dividend Yield
0.02%
Avg Beta
1.09
# Stocks
719
# ETFs / Funds
420

Top Holdings (1,139 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 VOO 15.22% 624,082 $354M $568.03 $37M +6,751 +1.1%
2 AAPL 9.20% 1,043,914 $214M $205.17 -$18M -2,836 -0.3%
3 SPY 7.19% 271,141 $168M $617.85 $14M -2,985 -1.1%
4 QQQ 4.38% 184,740 $102M $551.64 $15M -798 -0.4%
5 QQQM 4.18% 428,366 $97M $227.10 $16M +5,913 +1.4%
6 MSFT 3.23% 151,327 $75M $497.41 $20M +3,338 +2.3%
7 BRK-A 2.97% 95 $69M $728,800.00 -$7M
8 COST 2.91% 68,535 $68M $989.93 $3M -138 -0.2%
9 GOOGL 2.40% 317,081 $56M $176.23 $7M -480 -0.1%
10 XLK 1.96% 180,389 $46M $253.23 $9M +798 +0.4%
11 IVV 1.90% 71,167 $44M $620.90 $2M -3,890 -5.2%
12 UNH 1.82% 136,056 $42M $311.97 -$29M -32 -0.0%
13 MA 1.73% 71,739 $40M $561.94 $941K -91 -0.1%
14 VGT 1.69% 59,220 $39M $663.28 $7M -20 -0.0%
15 V 1.67% 109,660 $39M $355.05 $307K -561 -0.5%
16 GDEC 1.66% 1,102,017 $39M $35.16 +1,102,017 NEW
17 UPS 1.60% 369,786 $37M $100.94 -$3M -42 -0.0%
18 HD 1.60% 101,667 $37M $366.64 -$105K -328 -0.3%
19 CRM 1.49% 127,113 $35M $272.69 $509K -154 -0.1%
20 PPLT 1.22% 231,405 $28M $122.87 $7M
21 GLD 1.08% 82,318 $25M $304.83 $24M +78,183 +1890.8%
22 CI 1.02% 71,834 $24M $330.58 $113K
23 VTI 0.96% 73,366 $22M $303.93 $2M +201 +0.3%
24 PM 0.95% 121,416 $22M $182.13 $3M +76 +0.1%
25 TSLA 0.88% 64,495 $20M $317.66 $4M -164 -0.2%
26 JPM 0.78% 62,983 $18M $289.91 $410K -9,784 -13.4%
27 AMZN 0.78% 82,749 $18M $219.39 $4M +8,420 +11.3%
28 PSLV 0.71% 1,354,839 $17M $12.24 $879K +992 +0.1%
29 ULTA 0.69% 34,163 $16M $467.82 $3M
30 TJX 0.65% 123,479 $15M $123.49 $301K +761 +0.6%
31 BRK-B 0.63% 30,386 $15M $485.77 -$2M -306 -1.0%
32 FNF 0.63% 260,977 $15M $56.06 -$2M +18 +0.0%
33 ONEQ 0.61% 178,361 $14M $80.10 $2M -2,194 -1.2%
34 NVDA 0.57% 83,928 $13M $157.99 $5M +12,303 +17.2%
35 OKE 0.53% 151,448 $12M $81.63 -$3M
36 AMAT 0.53% 66,975 $12M $183.07 $3M +572 +0.9%
37 PDX 0.50% 468,132 $12M $24.65 $113K +2,487 +0.5%
38 SPLG 0.48% 153,563 $11M $72.69 $914K -2,286 -1.5%
39 CEF 0.46% 354,014 $11M $30.10 $598K
40 SYK 0.43% 25,287 $10M $395.63 $591K
41 VUG 0.39% 20,890 $9M $438.40 $1M +5 +0.0%
42 GOOG 0.38% 50,322 $9M $177.39 $1M +1,755 +3.6%
43 PLTR 0.35% 59,990 $8M $136.32 $2M -17,346 -22.4%
44 GDXJ 0.35% 119,862 $8M $67.59 $1M
45 AZO 0.34% 2,156 $8M $3,712.43 -$217K
46 VGK 0.33% 97,742 $8M $77.50 $712K -3
47 VIG 0.32% 36,372 $7M $204.67 $388K
48 ITOT 0.29% 50,461 $7M $135.04 -$148K -6,601 -11.6%
49 AEM 0.29% 55,906 $7M $118.93 $551K -345 -0.6%
50 META 0.26% 8,082 $6M $738.13 $2M +1,658 +25.8%
51 AVGO 0.24% 20,508 $6M $275.65 $4M +9,473 +85.8%
52 PANW 0.24% 27,324 $6M $204.64 $934K +30 +0.1%
53 MCD 0.24% 18,794 $5M $292.17 -$437K -184 -1.0%
54 FIS 0.23% 65,006 $5M $81.41 $438K +1
55 DAY 0.21% 88,949 $5M $55.39 -$262K
56 MO 0.21% 83,218 $5M $58.63 -$48K +1,124 +1.4%
57 TUA 0.19% 205,149 $5M $22.03 -$20M -919,163 -81.8%
58 SCHX 0.18% 168,194 $4M $24.44 $397K +6
59 BAC 0.18% 86,778 $4M $47.32 $474K -266 -0.3%
60 LOW 0.17% 18,069 $4M $221.87 -$205K
61 FXY 0.16% 60,000 $4M $63.94 $146K
62 AA 0.16% 128,965 $4M $29.51 -$109K +600 +0.5%
63 VDE 0.16% 31,912 $4M $119.12 -$319K +146 +0.5%
64 KLAC 0.16% 4,188 $4M $895.67 $815K -131 -3.0%
65 NFLX 0.16% 2,713 $4M $1,339.13 $3M +1,581 +139.7%
66 CMDT 0.15% 138,801 $4M $25.83 -$105K +943 +0.7%
67 NEM 0.15% 58,947 $3M $58.26 $830K +5,000 +9.3%
68 GDX 0.14% 63,895 $3M $52.06 $407K +396 +0.6%
69 GEV 0.14% 6,230 $3M $529.15 $846K -1,796 -22.4%
70 IEFA 0.14% 39,295 $3M $83.48 $156K -2,010 -4.9%
71 TMF 0.14% 82,391 $3M $39.24 -$184K +4,737 +6.1%
72 IEMG 0.14% 53,691 $3M $60.03 $346K +377 +0.7%
73 ATOM 0.14% 633,163 $3M $5.04 $611K -11,850 -1.8%
74 CCJ 0.13% 42,191 $3M $74.23 $1M +100 +0.2%
75 MAG 0.13% 143,688 $3M $21.13 $841K
76 IGSB 0.13% 55,959 $3M $52.76 -$1K -438 -0.8%
77 EW 0.12% 36,121 $3M $78.21 $207K
78 EWG 0.12% 65,442 $3M $42.31 $353K +302 +0.5%
79 CDE 0.12% 304,348 $3M $8.86 $895K
80 CNNE 0.12% 128,436 $3M $20.85 $324K
81 GE 0.11% 10,205 $3M $257.40 $504K -401 -3.8%
82 AGG 0.11% 26,042 $3M $99.20 -$83K -913 -3.4%
83 ADBE 0.10% 6,304 $2M $386.88 $21K
84 ISRG 0.10% 4,463 $2M $543.41 $296K +164 +3.8%
85 IUSG 0.10% 15,679 $2M $150.40 $366K
86 MUC 0.10% 225,446 $2M $10.35 -$81K
87 BOND 0.10% 24,836 $2M $92.18 -$9K -22 -0.1%
88 XOM 0.10% 21,227 $2M $107.80 -$339K -866 -3.9%
89 PHYS 0.09% 84,915 $2M $25.35 $110K
90 XLE 0.09% 24,882 $2M $84.81 -$219K -39 -0.2%
91 AXON 0.09% 2,480 $2M $827.94 $2M +2,449 +7900.0%
92 AGNCZ 0.09% 220,950 $2M $9.19 -$95K -925 -0.4%
93 WMT 0.09% 20,741 $2M $97.78 $40K -1,906 -8.4%
94 URNM 0.09% 42,075 $2M $47.93 $626K -780 -1.8%
95 HWM 0.09% 10,757 $2M $186.13 $2M +9,612 +839.5%
96 TOTL 0.09% 49,903 $2M $40.11 -$29K -493 -1.0%
97 IWM 0.09% 9,202 $2M $215.80 $174K +119 +1.3%
98 FCX 0.08% 45,133 $2M $43.35 $257K +250 +0.6%
99 BSV 0.08% 24,592 $2M $78.70 -$58K -870 -3.4%
100 B 0.08% 91,329 $2M $20.82 +91,329 NEW

Options Breakdown

41 Calls $18M Call Value 7 Puts $526K Put Value 0.03 P/C Ratio

Top Calls

SymbolSharesValueStatus
GLD 40,600 $12M
NVDA 5,500 $869K
NFLX 500 $670K NEW
AMZN 2,000 $439K
CEG 1,200 $387K
GOOG 2,000 $355K NEW
VST 1,800 $349K
PANW 1,700 $348K NEW
CRWD 500 $255K NEW
MU 2,000 $246K NEW

Top Puts

SymbolSharesValueStatus
RBLX 5,000 $526K NEW
AMD $0 SOLD
SPOT $0 SOLD
PLTR $0 SOLD
MA $0 SOLD
SPY $0 SOLD
CRWD $0 SOLD

New Positions

SymbolValue% Port
GDEC $39M 1.66%
B $2M 0.08%
CRCL $998K 0.04%
IAG $377K 0.02%
VBR $277K 0.01%
DUHP $194K 0.01%
CRDO $185K 0.01%
ESGV $152K 0.01%
IONQ $129K 0.01%
YNDX $117K 0.01%
SUSA $107K —%
SPHB $90K —%
CRWV $87K —%
PABU $65K —%
OSCR $64K —%

Sold Out Positions

SymbolValue% Port
RYAN —%
CHMI —%
DMB —%
ABR —%
FMC —%
ASB —%
AGM —%
BBY —%
EVH —%
TPR —%
ADM —%
CBRE —%
CNC —%
CXW —%
SYF —%
View SEC EDGAR Filings for HOLLENCREST CAPITAL MANAGEMENT →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms