HOLLENCREST CAPITAL MANAGEMENT

CIK 0001161722 · Q1 2026

13F Equity AUM

$2.7B

-6.9% QoQ

Positions

1,006

-7 QoQ

AUM Rank

#1,501

Top 12%

Skill Alpha (FF)

-1.7%/yr^ns

No Clear Edge

Rank #4,709 · Top 57%

vs S&P -4.4%/yr (unadj.)

Quarters Tracked

~13 years

Portfolio Concentration

Top 5: 38.1%Top 10: 50.7%Top 20: 65.6%

VOO14.1%

AAPL9.8%

SPY6.4%

NDQ3.9%

QQQM3.9%

GOOGL3.4%

COST2.6%

BRK/A2.5%

MSFT2.0%

RSDE2.0%

Others (996)49.3%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Financial Services55.0%

Technology15.9%

Consumer Cyclical5.0%

Financials4.5%

Communication Services4.2%

Consumer Defensive3.3%

Healthcare3.0%

Basic Materials2.6%

Other6.5%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 1006Median: 0.00%Avg: 0.10%

0–0.5%

966(18.9%)

0.5–1%

16(10.8%)

1–3%

18(28.8%)

3–5%

3(11.2%)

5%+

3(30.3%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 943Unique: 63vs 20 funds

12.8%Low

1,006

Fund positions

7,299

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

Most Similar Funds

Top 9 benchmark funds with highest portfolio overlap (Jaccard similarity)

MORGAN STANLEY

17.1%

BANK OF AMERICA CORP /DE/

18.3%

15.9%

16.9%

21.5%

15.5%

VANGUARD CAPITAL MANAGEMENT LLC

15%

GEODE CAPITAL MANAGEMENT, LLC

14.6%

VANGUARD PORTFOLIO MANAGEMENT LLC

15.9%

Jaccard similarity per fund: shared CUSIPs / (fund A + fund B − shared). Higher values indicate more similar portfolios.

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Position Changes This Quarter

New137Increased234Decreased203Exited107

New Positions

EWJ0.1%

+20K

PLTZ0.1%

+45K

NXT0.0%

+6K

TMV0.0%

+18K

GRR1EUR0.0%

+24K

ARM0.0%

+890

AAOI0.0%

+2K

WRD0.0%

+19K

DFTX0.0%

+7K

LUMN0.0%

+10

Increased

USFR1.0%

+537K(+5264%)

GRO0.0%

+240K(+223%)

GPUS0.0%

+95K(+317%)

RSDE2.0%

+83K(+3%)

SZ70.2%

+81K(+11%)

MUC0.1%

+81K(+36%)

IMG0.1%

+51K(+84%)

NOK0.0%

+51K(+30793%)

HL0.2%

+37K(+15%)

VG0.0%

+35K(+238%)

Decreased

FHDG0.0%

-1,073,693(-100%)

GQ91.5%

-72,948(-43%)

IVV0.4%

-54,357(-77%)

GDX0.2%

-27,313(-28%)

BANC0.0%

-22,184(-19%)

TTMI0.0%

-16,517(-100%)

PSLV/U1.2%

-15,656(-1%)

4I10.7%

-14,816(-12%)

PLTR0.2%

-14,368(-29%)

NVDA0.5%

-13,564(-16%)

Exited

-88,374

-1,704

-78,421

-30,931

-6,260

-245

-1,423

-1,888

-1,284

-1,912

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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