AlphaQuest Portfolio holdings
AlphaQuest is a computer-driven hedge fund firm that traded futures across currencies, commodities and stock and bond indices. Nigol Koulajian, its chief investment officer, founded it in 2001 around managed futures, and it later added equities, global macro and other asset classes. Until January 2025 the firm was called Quest Partners, and it took its new name from its flagship strategy, AlphaQuest Original. AlphaQuest announced in 2026 that it would close.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares 7-10 Year Treasury Bond ETF
IEF
|
+$58.5M |
| 2 |
Schwab Intermediately-Term US Treasury ETF
SCHR
|
+$41.9M |
| 3 |
State Street SPDR Portfolio Intermediate Term Treasury Index ETF
SPTI
|
+$41.9M |
| 4 |
iShares 3-7 Year Treasury Bond ETF
IEI
|
+$41.8M |
| 5 |
Vanguard Intermediate-Term Treasury ETF
VGIT
|
+$41.8M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
WESCO International
WCC
|
+$4.56M |
| 2 |
LCI Industries
LCII
|
+$4.32M |
| 3 |
Prosperity Bancshares
PB
|
+$4.25M |
| 4 |
Allete
ALE
|
+$4.23M |
| 5 |
Mueller Industries
MLI
|
+$4.18M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 19.78% |
| 2 | Miscellaneous | 17.52% |
| 3 | Industrials | 12.78% |
| 4 | Technology | 10.66% |
| 5 | Healthcare | 8.6% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
251
Wabtec
WAB
$47.6B
| $1.61M | 0.09% |
7,525
+5,116
| +212% | +$1.05M |
2023 Q4
8 quarters
|
|
252
NiSource
NI
$21.2B
| $1.6M | 0.09% |
38,313
+14,449
| +61% | +$617K |
2025 Q1
3 quarters
|
|
253
AutoZone
AZO
$51.8B
| $1.59M | 0.09% |
470
-192
| -29% | -$725K |
2025 Q3
1 quarter
|
|
254
Sanmina
SANM
$7.22B
| $1.59M | 0.09% |
10,576
-419
| -4% | -$61.8K |
2025 Q2
2 quarters
|
|
255
ABM Industries
ABM
$3.1B
| $1.59M | 0.09% |
37,490
-56,376
| -60% | -$2.48M |
2025 Q3
1 quarter
|
|
256
Eversource Energy
ES
$26.3B
| $1.58M | 0.09% |
23,394
+7,744
| +49% | +$544K |
2024 Q1
7 quarters
|
|
257
Lincoln Electric
LECO
$14.9B
| $1.57M | 0.09% |
6,563
+1,274
| +24% | +$302K |
2025 Q1
3 quarters
|
|
258
Tarsus Pharmaceuticals
TARS
$3.38B
| $1.57M | 0.09% |
19,193
+3,618
| +23% | +$270K |
2025 Q1
3 quarters
|
|
259
Alamo Group
ALG
$1.63B
| $1.57M | 0.09% |
9,326
-8,084
| -46% | -$1.41M |
2025 Q3
1 quarter
|
|
260
Boeing
BA
$137B
| $1.56M | 0.09% |
7,195
+6,988
| +3,376% | +$1.44M |
2025 Q3
1 quarter
|
|
261
Invitation Homes
INVH
$15.6B
| $1.56M | 0.09% |
56,197
-56,792
| -50% | -$1.59M |
2024 Q4
4 quarters
|
|
262
Orrstown Financial Services
ORRF
$862M
| $1.56M | 0.09% |
43,992
+27,688
| +170% | +$967K |
2024 Q3
5 quarters
|
|
263
SM Energy
SM
$7.03B
| $1.56M | 0.09% |
83,220
+80,727
| +3,238% | +$1.64M |
2024 Q3
5 quarters
|
|
264
Avnet
AVT
$6.52B
| $1.55M | 0.09% |
32,331
+21,276
| +192% | +$1.05M |
2025 Q3
1 quarter
|
|
265
Golub Capital BDC
GBDC
$3.31B
| $1.55M | 0.09% |
114,456
-14,528
| -11% | -$201K |
2023 Q4
8 quarters
|
|
266
McDonald's
MCD
$196B
| $1.55M | 0.09% |
5,074
-2,596
| -34% | -$795K |
2025 Q1
3 quarters
|
|
267
Rollins
ROL
$18.3B
| $1.54M | 0.09% |
25,668
+4,509
| +21% | +$265K |
2024 Q2
6 quarters
|
|
268
Consolidated Edison
ED
$43.8B
| $1.54M | 0.09% |
15,499
-1,444
| -9% | -$143K |
2024 Q4
4 quarters
|
|
269
Encompass Health
EHC
$13.5B
| $1.54M | 0.09% |
14,477
-15,439
| -52% | -$1.79M |
2024 Q1
7 quarters
|
|
270
Exponent
EXPO
$3.99B
| $1.54M | 0.09% |
22,117
+11,173
| +102% | +$785K |
2024 Q1
7 quarters
|
|
271
Costco
COST
$467B
| $1.52M | 0.09% |
1,764
+1,218
| +223% | +$1.1M |
2025 Q1
3 quarters
|
|
272
Avis
CAR
$4.2B
| $1.52M | 0.08% |
11,815
+3,172
| +37% | +$443K |
2025 Q3
1 quarter
|
|
273
Century Communities
CCS
$1.56B
| $1.51M | 0.08% |
25,486
+24,571
| +2,685% | +$1.5M |
2024 Q2
6 quarters
|
|
274
Tutor Perini Cor
TPC
$4.73B
| $1.51M | 0.08% |
22,493
+6,769
| +43% | +$444K |
2024 Q4
4 quarters
|
|
275
Neurocrine Biosciences
NBIX
$16.7B
| $1.5M | 0.08% |
10,576
-2,573
| -20% | -$373K |
2023 Q4
8 quarters
|
|
Similar funds
AlphaQuest's Q4 2025 Portfolio in Review
As of Q4 2025, AlphaQuest held 2,309 positions worth $1.79B, up 17% from $1.53B the previous quarter. Its ten largest holdings account for 18% of the portfolio.
AlphaQuest deployed $258M of net new capital in Q4 2025, opening 72 new positions and adding to 1,044 existing holdings. Its largest new stake was BigBear.ai: 356,421 shares worth $1.92M.
By sector, the portfolio is most concentrated in Financials at 20% of assets, down from 22% a quarter earlier, followed by Miscellaneous and Industrials.
On the sell side, the largest reduction was WESCO International, an estimated $4.56M trimmed.
- AlphaQuest's largest Q4 2025 buy was BigBear.ai: 356,421 shares worth $1.92M.
- AlphaQuest added most to iShares 7-10 Year Treasury Bond ETF in Q4 2025, an estimated $58.5M increase.
- AlphaQuest's biggest Q4 2025 reduction was WESCO International, cutting an estimated $4.56M.
- AlphaQuest fully exited Allete in Q4 2025, selling an estimated $4.23M.
- AlphaQuest's ten largest holdings make up 18% of its $1.79B portfolio in Q4 2025.
- AlphaQuest opened 72 new positions and closed 64 in Q4 2025.
- AlphaQuest's portfolio value rose 17% quarter-over-quarter to $1.79B.
Based on AlphaQuest's 13F filing for Q4 2025, filed 9 Feb 2026.