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 | |
|---|---|---|---|---|---|---|---|
751
Western Alliance Bancorporation
WAL
$8.16B
| $554K | 0.03% |
6,590
+2,479
| +60% | +$201K |
2024 Q4
4 quarters
|
|
752
American States Water
AWR
$3.52B
| $552K | 0.03% |
7,619
-5,275
| -41% | -$388K |
2025 Q3
1 quarter
|
|
753
Harmony Biosciences
HRMY
$1.89B
| $551K | 0.03% |
14,718
+1,518
| +12% | +$49.9K |
2023 Q4
8 quarters
|
|
754
Datadog
DDOG
$62.7B
| $548K | 0.03% |
4,028
+1,282
| +47% | +$203K |
2025 Q1
3 quarters
|
|
755
Corpay
CPAY
$29.3B
| $547K | 0.03% |
1,818
+1,602
| +742% | +$465K |
2024 Q2
6 quarters
|
|
756
Boston Beer
SAM
$2.28B
| $547K | 0.03% |
2,803
+690
| +33% | +$142K |
2024 Q3
5 quarters
|
|
757
Arteris
AIP
$783M
| $547K | 0.03% |
35,273
-7,947
| -18% | -$115K |
2025 Q1
3 quarters
|
|
758
Malibu Boats
MBUU
$406M
| $546K | 0.03% |
19,366
+4,192
| +28% | +$122K |
2025 Q3
1 quarter
|
|
759
Phillips 66
PSX
$96.4B
| $545K | 0.03% |
4,220
-303
| -7% | -$40.8K |
2024 Q1
7 quarters
|
|
760
Evolv Technologies
EVLV
$821M
| $542K | 0.03% |
75,648
+8,846
| +13% | +$62.9K |
2025 Q3
1 quarter
|
|
761
Knife River
KNF
$3.25B
| $541K | 0.03% |
7,689
+101
| +1% | +$7.09K |
2025 Q2
2 quarters
|
|
762
Waters Corp
WAT
$44.5B
| $540K | 0.03% |
1,421
+426
| +43% | +$157K |
2025 Q1
3 quarters
|
|
763
Palo Alto Networks
PANW
$258B
| $538K | 0.03% |
2,921
+1,324
| +83% | +$267K |
2024 Q1
7 quarters
|
|
764
CDW
CDW
$19.8B
| $538K | 0.03% |
3,949
+1,837
| +87% | +$271K |
2024 Q4
4 quarters
|
|
765
Seaboard Corp
SEB
$3.27B
| $538K | 0.03% |
121
+64
| +112% | +$253K |
2025 Q2
2 quarters
|
|
766
Teladoc Health
TDOC
$1.72B
| $537K | 0.03% |
76,682
+5,626
| +8% | +$44K |
2023 Q4
8 quarters
|
|
767
Bio-Rad Laboratories Class A
BIO
$9.9B
| $536K | 0.03% |
1,770
+568
| +47% | +$177K |
2025 Q3
1 quarter
|
|
768
Universal Display
OLED
$3.92B
| $535K | 0.03% |
4,578
-78
| -2% | -$10.1K |
2024 Q1
7 quarters
|
|
769
Morningstar
MORN
$9.17B
| $534K | 0.03% |
2,458
-892
| -27% | -$193K |
2024 Q1
7 quarters
|
|
770
Aimco
AIV
$229M
| $534K | 0.03% |
89,911
-59,612
| -40% | -$357K |
2023 Q4
8 quarters
|
|
771
Winmark
WINA
$956M
| $533K | 0.03% |
1,317
+859
| +188% | +$368K |
2024 Q2
6 quarters
|
|
772
M/I Homes
MHO
$3.4B
| $533K | 0.03% |
4,162
+3,625
| +675% | +$479K |
2024 Q1
7 quarters
|
|
773
Financial Institutions
FISI
$771M
| $532K | 0.03% |
17,064
+729
| +4% | +$21.5K |
2025 Q3
1 quarter
|
|
774
Credit Acceptance
CACC
$5.3B
| $532K | 0.03% |
1,199
-1
| -0.1% | -$464 |
2023 Q4
8 quarters
|
|
775
Constellation Energy
CEG
$84.9B
| $531K | 0.03% |
1,504
+300
| +25% | +$109K |
2024 Q1
7 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.