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 | |
|---|---|---|---|---|---|---|---|
426
Zions Bancorporation
ZION
$9.44B
| $1.05M | 0.06% |
17,959
+11,408
| +174% | +$621K |
2023 Q4
8 quarters
|
|
427
Amalgamated Financial
AMAL
$1.47B
| $1.04M | 0.06% |
32,567
+2,529
| +8% | +$73.6K |
2025 Q3
1 quarter
|
|
428
Fulgent Genetics
FLGT
$628M
| $1.04M | 0.06% |
39,521
+14,496
| +58% | +$376K |
2024 Q1
7 quarters
|
|
429
Clearwater Paper
CLW
$219M
| $1.04M | 0.06% |
59,549
+50,921
| +590% | +$939K |
2023 Q4
8 quarters
|
|
430
Northern Oil and Gas
NOG
$2.44B
| $1.04M | 0.06% |
48,225
+5,562
| +13% | +$125K |
2024 Q4
4 quarters
|
|
431
Amphenol
APH
$184B
| $1.03M | 0.06% |
15,230
+6,680
| +78% | +$447K |
2025 Q3
1 quarter
|
|
432
Broadstone Net Lease
BNL
$3.38B
| $1.03M | 0.06% |
59,232
-46,790
| -44% | -$842K |
2025 Q3
1 quarter
|
|
433
Upwork
UPWK
$1.26B
| $1.02M | 0.06% |
51,680
+1,354
| +3% | +$24.8K |
2023 Q4
8 quarters
|
|
434
Devon Energy
DVN
$46.5B
| $1.02M | 0.06% |
27,843
-13,206
| -32% | -$461K |
2023 Q4
8 quarters
|
|
435
SoFi Technologies
SOFI
$20.8B
| $1.02M | 0.06% |
38,920
-919
| -2% | -$25.6K |
2025 Q2
2 quarters
|
|
436
Blue Bird Corp
BLBD
$1.98B
| $1.02M | 0.06% |
21,672
+16,053
| +286% | +$839K |
2025 Q3
1 quarter
|
|
437
QCR Holdings
QCRH
$1.65B
| $1.01M | 0.06% |
12,179
+4,447
| +58% | +$350K |
2024 Q3
5 quarters
|
|
438
Maximus
MMS
$3.41B
| $1M | 0.06% |
11,639
+5,070
| +77% | +$433K |
2023 Q4
8 quarters
|
|
439
Murphy Oil
MUR
$5.22B
| $1M | 0.06% |
32,143
+29,454
| +1,095% | +$886K |
2023 Q4
8 quarters
|
|
440
Southwest Gas
SWX
$6.54B
| $1M | 0.06% |
12,540
-4,883
| -28% | -$391K |
2024 Q3
5 quarters
|
|
441
Uber
UBER
$141B
| $1M | 0.06% |
12,243
+6,804
| +125% | +$613K |
2024 Q1
7 quarters
|
|
442
D.R. Horton
DHI
$41.7B
| $999K | 0.06% |
6,936
+389
| +6% | +$59.2K |
2023 Q4
8 quarters
|
|
443
TTM Technologies
TTMI
$6.76B
| $998K | 0.06% |
14,470
-730
| -5% | -$47.6K |
2024 Q3
5 quarters
|
|
444
Vail Resorts
MTN
$5.65B
| $991K | 0.06% |
7,462
+2,274
| +44% | +$335K |
2025 Q2
2 quarters
|
|
445
AH Realty Trust
AHRT
$481M
| $990K | 0.06% |
149,610
-82,116
| -35% | -$542K |
2024 Q1
7 quarters
|
|
446
Par Pacific Holdings
PARR
$3.44B
| $988K | 0.06% |
28,106
+10,190
| +57% | +$405K |
2024 Q1
7 quarters
|
|
447
Victory Capital Holdings
VCTR
$7.24B
| $987K | 0.06% |
15,652
-6,046
| -28% | -$385K |
2023 Q4
8 quarters
|
|
448
Knight Transportation
KNX
$9.5B
| $985K | 0.06% |
18,838
-7,381
| -28% | -$346K |
2025 Q1
3 quarters
|
|
449
Ciena
CIEN
$34B
| $981K | 0.05% |
4,194
-820
| -16% | -$159K |
2023 Q4
8 quarters
|
|
450
Welltower
WELL
$181B
| $978K | 0.05% |
5,267
-4,886
| -48% | -$913K |
2025 Q1
3 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.