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 | |
|---|---|---|---|---|---|---|---|
826
Generac Holdings
GNRC
$10.1B
| $500K | 0.03% |
3,663
-1,373
| -27% | -$222K |
2023 Q4
8 quarters
|
|
827
First Business Financial Services
FBIZ
$622M
| $499K | 0.03% |
9,182
+9,180
| +459,000% | +$480K |
2025 Q3
1 quarter
|
|
828
GXO Logistics
GXO
$6.32B
| $497K | 0.03% |
9,435
-4,446
| -32% | -$234K |
2024 Q3
5 quarters
|
|
829
Airbnb
ABNB
$100B
| $497K | 0.03% |
3,659
-9,525
| -72% | -$1.19M |
2025 Q3
1 quarter
|
|
830
Terex
TEX
$6.17B
| $496K | 0.03% |
9,300
-1,416
| -13% | -$71.5K |
2025 Q2
2 quarters
|
|
831
Travel + Leisure Co
TNL
$4.5B
| $495K | 0.03% |
7,018
+1,048
| +18% | +$68.7K |
2023 Q4
8 quarters
|
|
832
Independent Bank Corp
IBCP
$808M
| $495K | 0.03% |
15,214
-3,902
| -20% | -$125K |
2023 Q4
8 quarters
|
|
833
Century Aluminum
CENX
$3B
| $495K | 0.03% |
12,622
+2,638
| +26% | +$82.4K |
2024 Q1
7 quarters
|
|
834
DigitalOcean
DOCN
$8.57B
| $493K | 0.03% |
10,246
-2,245
| -18% | -$98.9K |
2023 Q4
8 quarters
|
|
835
Biogen
BIIB
$36.6B
| $493K | 0.03% |
2,799
+2,424
| +646% | +$396K |
2024 Q4
4 quarters
|
|
836
United Parcel Service
UPS
$94.7B
| $492K | 0.03% |
4,958
+316
| +7% | +$29.6K |
2024 Q2
6 quarters
|
|
837
Arvinas
ARVN
$436M
| $492K | 0.03% |
41,456
+15,006
| +57% | +$164K |
2024 Q2
6 quarters
|
|
838
Kimco Realty
KIM
$17B
| $492K | 0.03% |
24,252
-95,454
| -80% | -$1.98M |
2025 Q1
3 quarters
|
|
839
HealthEquity
HQY
$8.62B
| $491K | 0.03% |
5,363
+4,739
| +759% | +$454K |
2025 Q1
3 quarters
|
|
840
Shenandoah Telecom
SHEN
$533M
| $491K | 0.03% |
42,498
+28,645
| +207% | +$339K |
2024 Q2
6 quarters
|
|
841
Cipher Digital
CIFR
$2.3B
| $491K | 0.03% |
33,263
+24,132
| +264% | +$426K |
2025 Q3
1 quarter
|
|
842
WaFd
WAFD
$2.17B
| $489K | 0.03% |
15,271
-14,018
| -48% | -$433K |
2024 Q3
5 quarters
|
|
843
NCR Atleos
NATL
$3.48B
| $489K | 0.03% |
12,827
-268
| -2% | -$10.1K |
2025 Q3
1 quarter
|
|
844
Cigna
CI
$79.7B
| $488K | 0.03% |
1,774
-512
| -22% | -$144K |
2023 Q4
8 quarters
|
|
845
Unum
UNM
$11.6B
| $488K | 0.03% |
6,298
+118
| +2% | +$9.02K |
2023 Q4
8 quarters
|
|
846
Baker Hughes
BKR
$46.6B
| $488K | 0.03% |
10,714
-4,479
| -29% | -$212K |
2023 Q4
8 quarters
|
|
847
DELISTED
Heritage Commerce
HTBK
| $486K | 0.03% |
40,463
+27,163
| +204% | +$295K |
2024 Q1
7 quarters
|
|
848
MediaAlpha
MAX
$858M
| $485K | 0.03% |
37,463
+27,604
| +280% | +$337K |
2024 Q1
7 quarters
|
|
849
Vaxcyte
PCVX
$9.9B
| $485K | 0.03% |
10,513
-433
| -4% | -$19.4K |
2025 Q1
3 quarters
|
|
850
SolarEdge
SEDG
$1.59B
| $485K | 0.03% |
16,800
+8,802
| +110% | +$307K |
2024 Q2
6 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.