It is either a shothole fungus or bacteria, or possibly a small beetle eating the hole. Take note for a few weeks if you see brown spots that then fall out and become holes (disease) or if the holes just suddenly appear (beetle). Then we can prescribe an appropriate remedy if one is needed. Most of the disease related possibilities do not warrant spraying on that tree. Just keep the thing vigorous and happy with water and a little fertilizer and it will be fine.
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