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 | |
|---|---|---|---|---|---|---|---|
1201
Merck
MRK
$368B
| $302K | 0.02% |
2,873
-1,321
| -31% | -$124K |
2023 Q4
8 quarters
|
|
1202
Axogen
AXGN
$3.13B
| $302K | 0.02% |
9,227
+172
| +2% | +$4.23K |
2023 Q4
8 quarters
|
|
1203
Rivian
RIVN
$20.5B
| $302K | 0.02% |
15,311
+4,442
| +41% | +$70.5K |
2023 Q4
8 quarters
|
|
1204
First Busey Corp
BUSE
$2.43B
| $302K | 0.02% |
12,676
-119
| -0.9% | -$2.8K |
2024 Q1
7 quarters
|
|
1205
Assurant
AIZ
$15.3B
| $301K | 0.02% |
1,251
+631
| +102% | +$141K |
2023 Q4
8 quarters
|
|
1206
Viasat
VSAT
$9.5B
| $301K | 0.02% |
8,728
-194
| -2% | -$6.85K |
2024 Q2
6 quarters
|
|
1207
Farmers National Banc Corp
FMNB
$943M
| $301K | 0.02% |
+22,566
| New | +$309K |
2025 Q4
0 quarters
|
|
1208
Nano Nuclear Energy
NNE
$584M
| $300K | 0.02% |
+12,505
| New | +$479K |
2025 Q4
0 quarters
|
|
1209
Omnicell
OMCL
$1.78B
| $300K | 0.02% |
6,622
-17,609
| -73% | -$644K |
2023 Q4
8 quarters
|
|
1210
Twist Bioscience
TWST
$9.19B
| $300K | 0.02% |
9,455
-13,100
| -58% | -$409K |
2023 Q4
8 quarters
|
|
1211
Vertex Pharmaceuticals
VRTX
$139B
| $300K | 0.02% |
661
-355
| -35% | -$153K |
2023 Q4
8 quarters
|
|
1212
Cullinan Oncology
CGEM
$802M
| $300K | 0.02% |
28,950
-69
| -0.2% | -$622 |
2025 Q1
3 quarters
|
|
1213
Evolent Health
EVH
$555M
| $299K | 0.02% |
74,838
+31,338
| +72% | +$174K |
2024 Q2
6 quarters
|
|
1214
OneWater Marine
ONEW
$180M
| $299K | 0.02% |
27,620
+195
| +0.7% | +$2.6K |
2024 Q4
4 quarters
|
|
1215
AST SpaceMobile
ASTS
$10.9B
| $299K | 0.02% |
4,113
-1,782
| -30% | -$127K |
2024 Q4
4 quarters
|
|
1216
Edgewell Personal Care
EPC
$1.37B
| $297K | 0.02% |
17,426
+1,345
| +8% | +$24.9K |
2024 Q3
5 quarters
|
|
1217
Ecolab
ECL
$88.1B
| $296K | 0.02% |
1,129
-361
| -24% | -$96.1K |
2023 Q4
8 quarters
|
|
1218
NPK International
NPKI
$760M
| $296K | 0.02% |
24,852
+2,146
| +9% | +$26.2K |
2025 Q2
2 quarters
|
|
1219
Victoria's Secret
VSXY
$8.7B
| $296K | 0.02% |
5,456
-471
| -8% | -$18.7K |
2025 Q1
3 quarters
|
|
1220
Arcutis Biotherapeutics
ARQT
$4.2B
| $295K | 0.02% |
10,175
-2,428
| -19% | -$62.2K |
2024 Q3
5 quarters
|
|
1221
Ouster
OUST
$2.36B
| $295K | 0.02% |
13,650
+2,981
| +28% | +$78.7K |
2024 Q3
5 quarters
|
|
1222
Moog Inc Class A
MOG.A
$10.3B
| $295K | 0.02% |
1,212
-177
| -13% | -$38.9K |
2025 Q1
3 quarters
|
|
1223
DELISTED
Apellis Pharmaceuticals
APLS
| $295K | 0.02% |
11,741
-11,358
| -49% | -$266K |
2024 Q3
5 quarters
|
|
1224
Kemper
KMPR
$2.08B
| $295K | 0.02% |
7,271
-1,366
| -16% | -$58.5K |
2023 Q4
8 quarters
|
|
1225
WEX
WEX
$5.88B
| $293K | 0.02% |
1,964
+146
| +8% | +$22K |
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.