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HOLLENCREST CAPITAL MANAGEMENT

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

Q4 2025 · Filed 2026-02-12
Market Value
$2.8B
+2.5%
Holdings
1,184
+39
New Purchases
115
Added To
204
Closed
99
Reduced
206
Top 10 Concentration
51.7%
Turnover
18.1%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
GOOGL 3.62% 2.88% +0.74% $102M
AAPL 10.11% 9.72% +0.39% $285M
PSLV 1.17% 0.80% +0.37% $33M
PPLT 1.53% 1.20% +0.33% $43M
GLD 2.17% 1.95% +0.22% $61M
UPS 1.30% 1.12% +0.18% $37M
AMAT 0.61% 0.49% +0.12% $17M
GOOG 0.58% 0.47% +0.11% $16M
CEF 0.58% 0.47% +0.10% $16M
CRM 1.20% 1.10% +0.10% $34M
VOO 14.18% 14.09% +0.09% $400M
AA 0.24% 0.15% +0.09% $7M
GDX 0.26% 0.18% +0.08% $7M
ZALT 1.41% 1.34% +0.08% $40M
QBUF 1.41% 1.34% +0.07% $40M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
MINT 0.01% 1.22% -1.21% $322K
ICSH 0.25% 0.86% -0.61% $7M
HD 1.24% 1.50% -0.26% $35M
MSFT 2.57% 2.78% -0.21% $72M
COST 2.09% 2.30% -0.21% $59M
UNH 1.59% 1.71% -0.12% $45M
PDX 0.32% 0.43% -0.11% $9M
AZO 0.26% 0.34% -0.08% $7M
FNF 0.51% 0.57% -0.07% $14M
RCL 0.00% 0.06% -0.06% $0
UAL 0.00% 0.06% -0.06% $1K
VST 0.01% 0.07% -0.06% $153K
BRK-A 2.54% 2.60% -0.06% $72M
AMZN 0.60% 0.65% -0.05% $17M
CI 0.70% 0.75% -0.05% $20M

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 62.0%
Large Cap 559 $740M 26.2%
Mid Cap 242 $117M 4.1%
Small Cap 189 $90M 3.2%
Micro Cap 116 $124M 4.4%

Portfolio Analytics

Avg Market Cap
$79.8B
Median Market Cap
$12.4B
Avg P/E
34.3
Median P/E
22.1
Avg Dividend Yield
0.02%
Avg Beta
1.17
# Stocks
741
# ETFs / Funds
443

Top Holdings (1,184 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 VOO 14.18% 637,700 $400M $627.13 $12M +4,603 +0.7%
2 AAPL 10.11% 1,048,621 $285M $271.86 $18M -2,054 -0.2%
3 SPY 6.49% 268,559 $183M $681.92 $3M -1,501 -0.6%
4 QQQ 4.00% 183,594 $113M $614.31 $2M -1,652 -0.9%
5 QQQM 3.97% 442,651 $112M $252.92 $3M +3,567 +0.8%
6 GOOGL 3.62% 326,100 $102M $313.00 $23M +437 +0.1%
7 MSFT 2.57% 149,647 $72M $483.62 -$4M +2,073 +1.4%
8 BRK-A 2.54% 95 $72M $754,800.00 $57K
9 GLD 2.17% 154,143 $61M $396.31 $7M +3,151 +2.1%
10 COST 2.09% 68,363 $59M $862.34 -$4M -12 -0.0%
11 XLK 1.86% 365,035 $53M $143.97 $776K +181,334 +98.7%
12 IVV 1.72% 70,899 $49M $684.94 $686K -632 -0.9%
13 UNH 1.59% 135,649 $45M $330.11 -$2M -283 -0.2%
14 VGT 1.57% 58,778 $44M $753.78 $348K -97 -0.2%
15 PPLT 1.53% 231,930 $43M $186.43 $10M
16 GDEC 1.49% 1,112,215 $42M $37.82 $2M +14,400 +1.3%
17 MA 1.45% 71,844 $41M $570.88 $208K +105 +0.1%
18 ZALT 1.41% 1,224,536 $40M $32.56 $3M +69,588 +6.0%
19 QBUF 1.41% 1,359,662 $40M $29.31 $3M +70,346 +5.5%
20 V 1.36% 109,684 $38M $350.71 $1M +86 +0.1%
21 UPS 1.30% 368,672 $37M $99.19 $6M -330 -0.1%
22 FHDG 1.29% 1,076,172 $37M $33.93 $2M +36,462 +3.5%
23 HD 1.24% 101,664 $35M $344.10 -$6M -56 -0.1%
24 CRM 1.20% 127,923 $34M $264.91 $4M -64 -0.1%
25 PSLV 1.17% 1,393,050 $33M $23.65 $11M -2,797 -0.2%
26 TSLA 1.03% 64,718 $29M $449.72 $413K +200 +0.3%
27 VTI 0.87% 73,196 $25M $335.27 $538K +55 +0.1%
28 JPM 0.77% 67,350 $22M $322.22 -$257K -2,263 -3.2%
29 ULTA 0.73% 34,263 $21M $605.01 $2M +100 +0.3%
30 CI 0.70% 71,834 $20M $275.23 -$935K
31 PM 0.70% 123,133 $20M $160.40 -$67K +951 +0.8%
32 TJX 0.67% 122,719 $19M $153.61 $1M +1
33 AMAT 0.61% 67,269 $17M $256.99 $4M +866 +1.3%
34 AMZN 0.60% 73,614 $17M $230.82 -$1M -8,393 -10.2%
35 GOOG 0.58% 52,187 $16M $313.80 $3M -1,179 -2.2%
36 CEF 0.58% 356,183 $16M $45.80 $3M
37 NVDA 0.56% 84,626 $16M $186.50 -$980K -5,215 -5.8%
38 ONEQ 0.56% 172,156 $16M $91.40 $391K -1
39 BRK-B 0.54% 30,166 $15M $502.65 -$121K -235 -0.8%
40 FNF 0.51% 261,013 $14M $54.59 -$2M +19 +0.0%
41 GDXJ 0.50% 122,956 $14M $113.78 $2M +1,266 +1.0%
42 OKE 0.39% 151,448 $11M $73.50 $80K
43 SPLG 0.38% 133,493 $11M $80.22 $330K +1,015 +0.8%
44 VUG 0.36% 21,042 $10M $487.86 $212K +81 +0.4%
45 AEM 0.34% 55,906 $9M $169.53 -$640K -4,119 -6.9%
46 PDX 0.32% 481,576 $9M $18.78 -$3M +4,690 +1.0%
47 SYK 0.31% 25,258 $9M $351.47 -$460K
48 PLTR 0.31% 48,783 $9M $177.75 $325K +3,033 +6.6%
49 VIG 0.29% 37,443 $8M $219.78 $213K +294 +0.8%
50 VGK 0.29% 97,448 $8M $83.61 $372K +15 +0.0%
51 ITOT 0.28% 52,959 $8M $148.69 $1M +6,848 +14.8%
52 AZO 0.26% 2,156 $7M $3,391.68 -$2M
53 GDX 0.26% 85,053 $7M $85.77 $2M +19,579 +29.9%
54 ICSH 0.25% 140,343 $7M $50.58 -$16M -324,615 -69.8%
55 AA 0.24% 128,965 $7M $53.14 $3M
56 PAAS 0.22% 121,233 $6M $51.81 $2M -400 -0.3%
57 KLAC 0.22% 5,091 $6M $1,215.00 $2M +978 +23.8%
58 DAY 0.22% 88,374 $6M $69.16 $24K
59 AVGO 0.21% 17,036 $6M $346.09 -$667K -2,859 -14.4%
60 NEM 0.21% 58,947 $6M $99.85 $916K
61 MCD 0.20% 18,715 $6M $305.62 $8K -79 -0.4%
62 CDE 0.19% 306,678 $5M $17.83 -$241K +2,330 +0.8%
63 MO 0.17% 85,188 $5M $57.66 -$715K +3
64 BAC 0.17% 86,928 $5M $55.00 $299K +50 +0.1%
65 HL 0.17% 248,544 $5M $19.19 $2M +1,367 +0.6%
66 SCHX 0.16% 166,611 $4M $26.91 $94K -19 -0.0%
67 TUA 0.16% 202,062 $4M $21.90 $7K
68 LOW 0.15% 18,037 $4M $241.16 -$183K
69 FIS 0.15% 65,009 $4M $66.46 $34K +1
70 VDE 0.14% 32,419 $4M $125.92 $22K +158 +0.5%
71 B 0.14% 91,329 $4M $43.55 $985K
72 CCJ 0.14% 42,121 $4M $91.49 $324K +30 +0.1%
73 PANW 0.14% 20,738 $4M $184.20 -$919K -2,535 -10.9%
74 IEMG 0.13% 53,563 $4M $67.22 $266K +2,983 +5.9%
75 CMDT 0.13% 128,692 $4M $27.59 -$253K -10,121 -7.3%
76 FXY 0.12% 60,000 $4M $58.67 -$212K
77 META 0.12% 5,152 $3M $660.04 -$788K -551 -9.7%
78 IEFA 0.11% 34,636 $3M $89.46 $18K -645 -1.8%
79 EW 0.11% 36,121 $3M $85.25 $270K
80 PHYS 0.11% 90,692 $3M $33.02 $263K -1,530 -1.7%
81 GEV 0.10% 4,273 $3M $653.59 -$536K -1,141 -21.1%
82 GE 0.10% 9,054 $3M $308.03 -$250K -1,047 -10.4%
83 EWG 0.10% 65,475 $3M $42.50 $50K -200 -0.3%
84 IUSG 0.09% 15,679 $3M $167.94 $53K
85 TMF 0.09% 68,830 $3M $37.32 -$388K -4,754 -6.5%
86 XOM 0.09% 20,957 $3M $120.34 $132K -244 -1.1%
87 ADBE 0.09% 7,049 $2M $349.99 $219K +676 +10.6%
88 AGG 0.09% 24,052 $2M $99.88 $348K +3,564 +17.4%
89 MUC 0.09% 226,520 $2M $10.60 -$32K +2,302 +1.0%
90 ISRG 0.08% 4,216 $2M $566.36 $502K
91 AGNCZ 0.08% 220,800 $2M $10.72 $205K
92 URNM 0.08% 42,130 $2M $54.89 -$230K +55 +0.1%
93 FCX 0.08% 45,483 $2M $50.79 $526K
94 BOND 0.08% 24,537 $2M $93.08 -$16K -99 -0.4%
95 IWM 0.08% 9,234 $2M $246.17 $39K +1 +0.0%
96 XLE 0.08% 49,767 $2M $44.71 $2K +24,884 +100.0%
97 WMT 0.08% 19,922 $2M $111.41 $74K -898 -4.3%
98 LRCX 0.08% 12,747 $2M $171.18 $2M +8,869 +228.7%
99 CNNE 0.07% 128,436 $2M $15.73 -$331K
100 IGSB 0.07% 36,432 $2M $52.88 -$146K -2,657 -6.8%

Options Breakdown

50 Calls $15M Call Value 6 Puts $1M Put Value 0.08 P/C Ratio

Top Calls

SymbolSharesValueStatus
GLD 20,000 $8M
EQX 125,000 $2M
GDX 11,200 $961K NEW
MSFT 1,300 $629K
NFLX 4,700 $441K NEW
URA 8,400 $359K NEW
VST 2,100 $339K NEW
SLV 4,400 $283K NEW
NVDA 1,500 $280K NEW
PLTR 1,500 $267K

Top Puts

SymbolSharesValueStatus
BAC 21,000 $1M NEW
QBTS 1,700 $44K NEW
SPY $0 SOLD
QQQ $0 SOLD
RBLX $0 SOLD
PLTR $0 SOLD

New Positions

SymbolValue% Port
AEIS $1M 0.04%
TTMI $1M 0.04%
GMAB $953K 0.03%
CIEN $767K 0.03%
SOC $500K 0.02%
MTZ $487K 0.02%
SJNK $450K 0.02%
SQQQ $443K 0.02%
BDEC $422K 0.01%
GRMN $297K 0.01%
ENS $233K 0.01%
DY $229K 0.01%
MKSI $228K 0.01%
LSCC $226K 0.01%
TSEM $225K 0.01%

Sold Out Positions

SymbolValue% Port
OC —%
FFC —%
VICI —%
NCLH —%
EHC —%
ITGR —%
ELF —%
RYN —%
SSD —%
PDT —%
LOAR —%
ARI —%
DOCS —%
FIG —%
UL —%
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