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 | |
|---|---|---|---|---|---|---|---|
1126
DELISTED
Astria Therapeutics
ATXS
| $337K | 0.02% |
25,782
-38,826
| -60% | -$464K |
2024 Q1
7 quarters
|
|
1127
Orchid Island Capital
ORC
$950M
| $337K | 0.02% |
46,819
+12,568
| +37% | +$91.5K |
2025 Q1
3 quarters
|
|
1128
Sunrun
RUN
$2.13B
| $337K | 0.02% |
18,320
+4,513
| +33% | +$86.5K |
2024 Q1
7 quarters
|
|
1129
Equitable Holdings
EQH
$15.3B
| $337K | 0.02% |
7,070
-239
| -3% | -$11.3K |
2025 Q3
1 quarter
|
|
1130
Kelly Services Class A
KELYA
$594M
| $337K | 0.02% |
38,272
+17,156
| +81% | +$174K |
2025 Q1
3 quarters
|
|
1131
NuScale Power
SMR
$2.12B
| $337K | 0.02% |
23,756
+8,881
| +60% | +$254K |
2024 Q2
6 quarters
|
|
1132
Penumbra
PEN
$12.7B
| $336K | 0.02% |
1,080
-13
| -1% | -$3.59K |
2025 Q1
3 quarters
|
|
1133
nCino
NCNO
$2.49B
| $335K | 0.02% |
13,049
+11,666
| +844% | +$296K |
2024 Q2
6 quarters
|
|
1134
Flowserve
FLS
$10.3B
| $334K | 0.02% |
4,811
-29,605
| -86% | -$1.9M |
2023 Q4
8 quarters
|
|
1135
Relay Therapeutics
RLAY
$3.87B
| $334K | 0.02% |
+39,447
| New | +$281K |
2025 Q4
0 quarters
|
|
1136
APi Group
APG
$18.5B
| $332K | 0.02% |
8,674
-7,723
| -47% | -$286K |
2024 Q3
5 quarters
|
|
1137
Live Nation Entertainment
LYV
$42.9B
| $331K | 0.02% |
2,323
-439
| -16% | -$63.1K |
2025 Q1
3 quarters
|
|
1138
Alkami Technology
ALKT
$1.44B
| $330K | 0.02% |
14,324
+12,782
| +829% | +$282K |
2023 Q4
8 quarters
|
|
1139
Adaptive Biotechnologies
ADPT
$4.25B
| $330K | 0.02% |
20,317
-219
| -1% | -$3.57K |
2025 Q1
3 quarters
|
|
1140
SPX Corp
SPXC
$7.63B
| $330K | 0.02% |
1,648
+1,274
| +341% | +$260K |
2025 Q3
1 quarter
|
|
1141
DELISTED
Day One Biopharmaceuticals
DAWN
| $329K | 0.02% |
35,326
-149,680
| -81% | -$1.25M |
2023 Q4
8 quarters
|
|
1142
Corning
GLW
$101B
| $329K | 0.02% |
3,758
+3,526
| +1,520% | +$304K |
2024 Q3
5 quarters
|
|
1143
Edwards Lifesciences
EW
$57.7B
| $328K | 0.02% |
3,849
-2,351
| -38% | -$193K |
2025 Q3
1 quarter
|
|
1144
EPR Properties
EPR
$4.64B
| $327K | 0.02% |
6,561
-32,986
| -83% | -$1.72M |
2024 Q4
4 quarters
|
|
1145
John Wiley & Sons Class A
WLY
$2.66B
| $327K | 0.02% |
10,685
-5,456
| -34% | -$192K |
2025 Q1
3 quarters
|
|
1146
Penguin Solutions Inc
PENG
$2.5B
| $327K | 0.02% |
16,703
-64,233
| -79% | -$1.38M |
2025 Q3
1 quarter
|
|
1147
DELISTED
CSG Systems International
CSGS
| $327K | 0.02% |
4,258
-19,117
| -82% | -$1.41M |
2023 Q4
8 quarters
|
|
1148
LKQ Corp
LKQ
$5.33B
| $326K | 0.02% |
10,783
+9,326
| +640% | +$281K |
2024 Q2
6 quarters
|
|
1149
Agios Pharmaceuticals
AGIO
$1.87B
| $326K | 0.02% |
11,963
+6,552
| +121% | +$230K |
2024 Q2
6 quarters
|
|
1150
Energy Recovery
ERII
$365M
| $325K | 0.02% |
24,128
+5,162
| +27% | +$78.3K |
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.