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HOLLENCREST CAPITAL MANAGEMENT

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

Q3 2025 · Filed 2025-11-03
Market Value
$2.8B
+18.2%
Holdings
1,145
+6
New Purchases
83
Added To
180
Closed
76
Reduced
189
Top 10 Concentration
50.8%
Turnover
13.9%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
QBUF 1.34% 0.00% +1.34% $37M
ZALT 1.34% 0.00% +1.34% $37M
FHDG 1.25% 0.00% +1.25% $34M
MINT 1.22% 0.01% +1.21% $34M
GLD 1.95% 1.08% +0.87% $54M
ICSH 0.86% 0.00% +0.86% $24M
AAPL 9.72% 9.20% +0.52% $268M
GOOGL 2.88% 2.40% +0.48% $79M
TSLA 1.04% 0.88% +0.16% $29M
PAAS 0.17% 0.05% +0.12% $5M
CDE 0.21% 0.12% +0.09% $6M
GDXJ 0.44% 0.35% +0.09% $12M
GOOG 0.47% 0.38% +0.09% $13M
PSLV 0.80% 0.71% +0.08% $22M
AEM 0.37% 0.29% +0.08% $10M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
VOO 14.09% 15.22% -1.14% $388M
SPY 6.54% 7.19% -0.66% $180M
COST 2.30% 2.91% -0.61% $63M
UPS 1.12% 1.60% -0.48% $31M
MSFT 2.78% 3.23% -0.46% $76M
CRM 1.10% 1.49% -0.39% $30M
BRK-A 2.60% 2.97% -0.37% $72M
QQQ 4.04% 4.38% -0.34% $111M
V 1.36% 1.67% -0.31% $37M
CI 0.75% 1.02% -0.27% $21M
MA 1.48% 1.73% -0.25% $41M
QQQM 3.94% 4.18% -0.24% $109M
PM 0.72% 0.95% -0.23% $20M
GDEC 1.46% 1.66% -0.20% $40M
IVV 1.74% 1.90% -0.16% $48M

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 $1.7B 61.7%
Large Cap 530 $730M 26.5%
Mid Cap 247 $118M 4.3%
Small Cap 184 $89M 3.2%
Micro Cap 106 $116M 4.2%

Portfolio Analytics

Avg Market Cap
$81.6B
Median Market Cap
$11.9B
Avg P/E
32.1
Median P/E
21.6
Avg Dividend Yield
0.02%
Avg Beta
1.14
# Stocks
717
# ETFs / Funds
428

Top Holdings (1,145 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 VOO 14.09% 633,097 $388M $612.38 $33M +9,015 +1.4%
2 AAPL 9.72% 1,050,675 $268M $254.63 $53M +6,761 +0.7%
3 SPY 6.54% 270,060 $180M $666.18 $12M -1,081 -0.4%
4 QQQ 4.04% 185,246 $111M $600.37 $9M +506 +0.3%
5 QQQM 3.94% 439,084 $109M $247.12 $11M +10,718 +2.5%
6 GOOGL 2.88% 325,663 $79M $243.10 $23M +8,582 +2.7%
7 MSFT 2.78% 147,574 $76M $517.95 $1M -3,753 -2.5%
8 BRK-A 2.60% 95 $72M $754,200.00 $2M
9 COST 2.30% 68,375 $63M $925.64 -$5M -160 -0.2%
10 GLD 1.95% 150,992 $54M $355.47 $29M +68,674 +83.4%
11 XLK 1.88% 183,701 $52M $281.86 $6M +3,312 +1.8%
12 IVV 1.74% 71,531 $48M $669.30 $4M +364 +0.5%
13 UNH 1.71% 135,932 $47M $345.30 $4M -124 -0.1%
14 VGT 1.60% 58,875 $44M $746.63 $5M -345 -0.6%
15 HD 1.50% 101,720 $41M $405.19 $4M +53 +0.1%
16 MA 1.48% 71,739 $41M $568.81 $493K
17 GDEC 1.46% 1,097,815 $40M $36.68 $2M -4,202 -0.4%
18 V 1.36% 109,598 $37M $341.38 -$2M -62 -0.1%
19 QBUF 1.34% 1,289,316 $37M $28.71 $37M +1,286,929 +53914.1%
20 ZALT 1.34% 1,154,948 $37M $31.87 +1,154,948 NEW
21 FHDG 1.25% 1,039,710 $34M $32.97 +1,039,710 NEW
22 MINT 1.22% 333,337 $34M $100.69 $33M +332,031 +25423.5%
23 PPLT 1.20% 231,930 $33M $142.88 $5M +525 +0.2%
24 UPS 1.12% 369,002 $31M $83.53 -$7M -784 -0.2%
25 CRM 1.10% 127,987 $30M $237.00 -$4M +874 +0.7%
26 TSLA 1.04% 64,518 $29M $444.72 $8M +23 +0.0%
27 VTI 0.87% 73,141 $24M $328.17 $2M -225 -0.3%
28 ICSH 0.86% 464,958 $24M $50.75 +464,958 NEW
29 JPM 0.80% 69,613 $22M $315.43 $4M +6,630 +10.5%
30 PSLV 0.80% 1,395,847 $22M $15.70 $5M +41,008 +3.0%
31 CI 0.75% 71,834 $21M $288.25 -$3M
32 PM 0.72% 122,182 $20M $162.20 -$2M +766 +0.6%
33 ULTA 0.68% 34,163 $19M $546.75 $3M
34 AMZN 0.65% 82,007 $18M $219.57 -$148K -742 -0.9%
35 TJX 0.64% 122,718 $18M $144.54 $2M -761 -0.6%
36 NVDA 0.61% 89,841 $17M $186.58 $4M +5,913 +7.0%
37 FNF 0.57% 260,994 $16M $60.49 $1M +17 +0.0%
38 ONEQ 0.56% 172,157 $15M $89.13 $1M -6,204 -3.5%
39 BRK-B 0.56% 30,401 $15M $502.74 $523K +15 +0.1%
40 AMAT 0.49% 66,403 $14M $204.74 $1M -572 -0.8%
41 CEF 0.47% 356,183 $13M $36.69 $2M +2,169 +0.6%
42 GOOG 0.47% 53,366 $13M $243.55 $4M +3,044 +6.0%
43 GDXJ 0.44% 121,690 $12M $99.03 $4M +1,828 +1.5%
44 PDX 0.43% 476,886 $12M $24.93 $349K +8,754 +1.9%
45 OKE 0.40% 151,448 $11M $72.97 -$1M
46 SPLG 0.38% 132,478 $10M $78.34 -$784K -21,085 -13.7%
47 AEM 0.37% 60,025 $10M $168.56 $3M +4,119 +7.4%
48 VUG 0.37% 20,961 $10M $479.61 $895K +71 +0.3%
49 SYK 0.34% 25,258 $9M $369.67 -$667K -29 -0.1%
50 AZO 0.34% 2,156 $9M $4,290.47 $1M
51 PLTR 0.30% 45,750 $8M $182.42 $168K -14,240 -23.7%
52 VIG 0.29% 37,149 $8M $215.79 $572K +777 +2.1%
53 VGK 0.28% 97,433 $8M $79.80 $200K -309 -0.3%
54 ITOT 0.24% 46,111 $7M $145.65 -$98K -4,350 -8.6%
55 AVGO 0.24% 19,895 $7M $329.90 $910K -613 -3.0%
56 DAY 0.22% 88,374 $6M $68.89 $1M -575 -0.7%
57 MCD 0.21% 18,794 $6M $303.90 $220K
58 CDE 0.21% 304,348 $6M $18.76 $3M
59 MO 0.20% 85,185 $6M $66.06 $748K +1,967 +2.4%
60 GDX 0.18% 65,474 $5M $76.40 $2M +1,579 +2.5%
61 NEM 0.18% 58,947 $5M $84.31 $2M
62 PANW 0.17% 23,273 $5M $203.62 -$853K -4,051 -14.8%
63 PAAS 0.17% 121,633 $5M $38.73 $4M +82,932 +214.3%
64 LOW 0.16% 18,037 $5M $251.31 $524K -32 -0.2%
65 BAC 0.16% 86,878 $4M $51.59 $376K +100 +0.1%
66 KLAC 0.16% 4,113 $4M $1,078.52 $685K -75 -1.8%
67 TUA 0.16% 202,062 $4M $21.87 -$100K -3,087 -1.5%
68 SCHX 0.16% 166,630 $4M $26.34 $278K -1,564 -0.9%
69 FIS 0.16% 65,008 $4M $65.94 -$1M +2
70 AA 0.15% 128,965 $4M $32.89 $436K
71 META 0.15% 5,703 $4M $734.38 -$2M -2,379 -29.4%
72 VDE 0.15% 32,261 $4M $125.86 $259K +349 +1.1%
73 CMDT 0.14% 138,813 $4M $27.40 $218K +12 +0.0%
74 FXY 0.14% 60,000 $4M $62.21 -$104K
75 CCJ 0.13% 42,091 $4M $83.86 $398K -100 -0.2%
76 IEMG 0.12% 50,580 $3M $65.92 $111K -3,111 -5.8%
77 GEV 0.12% 5,414 $3M $614.91 $32K -816 -13.1%
78 IEFA 0.11% 35,281 $3M $87.31 -$200K -4,014 -10.2%
79 GE 0.11% 10,101 $3M $300.81 $412K -104 -1.0%
80 B 0.11% 91,329 $3M $32.77 $1M
81 HL 0.11% 247,177 $3M $12.10 $2M
82 TMF 0.11% 73,584 $3M $40.18 -$276K -8,807 -10.7%
83 EW 0.10% 36,121 $3M $77.77 -$16K
84 EWG 0.10% 65,675 $3M $41.61 -$36K +233 +0.4%
85 PHYS 0.10% 92,222 $3M $29.62 $579K +7,307 +8.6%
86 ATOM 0.10% 599,067 $3M $4.42 -$543K -34,096 -5.4%
87 IUSG 0.09% 15,679 $3M $164.54 $222K
88 URNM 0.09% 42,075 $3M $60.43 $526K
89 MUC 0.09% 224,218 $2M $10.85 $99K -1,228 -0.5%
90 XOM 0.09% 21,201 $2M $112.75 $102K -26 -0.1%
91 CNNE 0.09% 128,436 $2M $18.31 -$326K
92 BOND 0.08% 24,636 $2M $93.35 $10K -200 -0.8%
93 ADBE 0.08% 6,373 $2M $352.75 -$191K +69 +1.1%
94 IWM 0.08% 9,233 $2M $241.95 $248K +31 +0.3%
95 XLE 0.08% 24,883 $2M $89.34 $113K +1
96 BX 0.08% 12,707 $2M $170.85 $273K +16 +0.1%
97 AGNCZ 0.08% 220,800 $2M $9.79 $131K -150 -0.1%
98 WMT 0.08% 20,820 $2M $103.06 $118K +79 +0.4%
99 IGSB 0.08% 39,089 $2M $53.03 -$880K -16,870 -30.1%
100 AGG 0.07% 20,488 $2M $100.25 -$529K -5,554 -21.3%

Options Breakdown

50 Calls $12M Call Value 4 Puts $4M Put Value 0.3 P/C Ratio

Top Calls

SymbolSharesValueStatus
GLD 17,500 $6M
EQX 125,000 $1M NEW
ALAB 4,000 $783K NEW
MSFT 1,100 $570K
XOM 5,000 $564K NEW
AMZN 2,000 $439K
PANW 1,700 $346K
IREN 7,300 $343K NEW
YNDX 2,000 $225K NEW
BMNR 4,300 $223K NEW

Top Puts

SymbolSharesValueStatus
SPY 2,100 $1M NEW
QQQ 2,300 $1M NEW
RBLX 5,000 $693K
PLTR 1,200 $219K NEW

New Positions

SymbolValue% Port
ZALT $37M 1.34%
FHDG $34M 1.25%
ICSH $24M 0.86%
RCL $2M 0.06%
ZS $749K 0.03%
DOCS $742K 0.03%
FIX $735K 0.03%
CVNA $693K 0.03%
LIF $648K 0.02%
PH $307K 0.01%
GSEP $250K 0.01%
QSPT $250K 0.01%
STX $249K 0.01%
RMBS $227K 0.01%
NFGC $225K 0.01%

Sold Out Positions

SymbolValue% Port
ESTC —%
FLR —%
ETJ —%
CL —%
NKX —%
FSK —%
BE —%
ANF —%
CION —%
KBH —%
LEN —%
LRN —%
OSCR —%
OWL —%
SAM —%
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