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 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 | |
|---|---|---|---|---|---|---|---|
1226
Syndax Pharmaceuticals
SNDX
$1.28B
| $292K | 0.02% |
13,921
-45,420
| -77% | -$792K |
2024 Q1
7 quarters
|
|
1227
Kodiak Gas Services
KGS
$4.71B
| $292K | 0.02% |
7,819
+7,679
| +5,485% | +$272K |
2024 Q4
4 quarters
|
|
1228
Nutex Health
NUTX
$1.23B
| $291K | 0.02% |
1,766
-877
| -33% | -$116K |
2025 Q2
2 quarters
|
|
1229
Calumet Specialty Products
CLMT
$4.16B
| $291K | 0.02% |
14,625
+11,849
| +427% | +$228K |
2024 Q3
5 quarters
|
|
1230
Skydance Corporation
SKYD
$40.7B
| $290K | 0.02% |
21,647
-10,088
| -32% | -$158K |
2025 Q3
1 quarter
|
|
1231
German American Bancorp
GABC
$1.86B
| $290K | 0.02% |
7,397
-646
| -8% | -$25.5K |
2024 Q4
4 quarters
|
|
1232
Glacier Bancorp
GBCI
$6.37B
| $289K | 0.02% |
6,559
+1,682
| +34% | +$73.7K |
2025 Q1
3 quarters
|
|
1233
Palvella Therapeutics
PVLA
$2.2B
| $288K | 0.02% |
2,754
+137
| +5% | +$11.7K |
2025 Q3
1 quarter
|
|
1234
OneSpan
OSPN
$902M
| $288K | 0.02% |
22,401
-17,658
| -44% | -$240K |
2024 Q1
7 quarters
|
|
1235
MACOM Technology Solutions
MTSI
$18B
| $288K | 0.02% |
1,679
-1
| -0.1% | -$159 |
2024 Q4
4 quarters
|
|
1236
AZZ Inc
AZZ
$4.14B
| $287K | 0.02% |
2,681
-6,775
| -72% | -$702K |
2025 Q3
1 quarter
|
|
1237
Advanced Drainage Systems
WMS
$10.3B
| $287K | 0.02% |
1,984
-56
| -3% | -$8.11K |
2025 Q3
1 quarter
|
|
1238
Thryv Holdings
THRY
$55.5M
| $286K | 0.02% |
47,261
+26,676
| +130% | +$211K |
2025 Q1
3 quarters
|
|
1239
First Commonwealth Financial
FCF
$2.05B
| $285K | 0.02% |
16,923
+9,125
| +117% | +$150K |
2024 Q2
6 quarters
|
|
1240
DELISTED
TruBridge
TBRG
| $285K | 0.02% |
12,904
+1,340
| +12% | +$28.1K |
2024 Q4
4 quarters
|
|
1241
GPGI Inc
GPGI
$3.39B
| $285K | 0.02% |
14,767
-742
| -5% | -$14.8K |
2025 Q1
3 quarters
|
|
1242
Permian Resources
PR
$20.1B
| $285K | 0.02% |
20,290
+17,190
| +555% | +$231K |
2025 Q1
3 quarters
|
|
1243
DELISTED
TEGNA Inc
TGNA
| $284K | 0.02% |
14,656
-638
| -4% | -$12.6K |
2025 Q1
3 quarters
|
|
1244
Manhattan Associates
MANH
$14.8B
| $284K | 0.02% |
1,640
-458
| -22% | -$83.7K |
2023 Q4
8 quarters
|
|
1245
Deckers Outdoor
DECK
$11.2B
| $284K | 0.02% |
2,738
+1,785
| +187% | +$167K |
2024 Q1
7 quarters
|
|
1246
Expeditors International
EXPD
$26.6B
| $282K | 0.02% |
1,895
-91
| -5% | -$12.4K |
2023 Q4
8 quarters
|
|
1247
Invesco Mortgage Capital
IVR
$579M
| $282K | 0.02% |
33,545
+32,950
| +5,538% | +$258K |
2025 Q1
3 quarters
|
|
1248
Wabash National
WNC
$465M
| $282K | 0.02% |
32,614
-49,187
| -60% | -$429K |
2024 Q3
5 quarters
|
|
1249
Acushnet Holdings
GOLF
$5.11B
| $282K | 0.02% |
3,531
+1,391
| +65% | +$113K |
2025 Q3
1 quarter
|
|
1250
Sprinklr
CXM
$1.56B
| $282K | 0.02% |
36,226
-29,260
| -45% | -$223K |
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.