| Stressed trees become more susceptable to pests. If the holes were in a lacey pattern, it sounds like chinese rose beatles. Not a huge deal unless they are an urgant threat to the trees life/health. I wouldn't worry. Try bying two five dollar compost bags and spreading them around the base of the tree. It should help improve its health and vigor but not emediately. Never hurts, always helps. Especially if the tree don't have decaying organic matter nearby. If you post pics, we might be of better help. Also, take one of the ground around it. What parts of the tree are affected? lower leaves? Highest leaves/branches? Whole thing?describe any yellowing. My guesses:
Water stress- tree wilts temperarily & defoliation near top. Remaining leaves could experience tip necrosis. Potassium (K) deficiency- lowest leaves experience yellowing at tips progressing to necrosis. Easily corrected unless underlying soil problems are involved. Overfertilized- e.g. too much Nitrogen can burn leaf tips and harm plant temporarily. Hard to say. Need pictures. | 
