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 | |
|---|---|---|---|---|---|---|---|
1301
Bar Harbor Bankshares
BHB
$690M
| $260K | 0.01% |
+8,380
| New | +$255K |
2025 Q4
0 quarters
|
|
1302
Red Violet
RDVT
$1.28B
| $260K | 0.01% |
+4,566
| New | +$248K |
2025 Q4
0 quarters
|
|
1303
Travere Therapeutics
TVTX
$4.66B
| $260K | 0.01% |
6,799
+1,335
| +24% | +$43.4K |
2023 Q4
8 quarters
|
|
1304
Wingstop
WING
$4.37B
| $260K | 0.01% |
1,089
-1,134
| -51% | -$281K |
2024 Q2
6 quarters
|
|
1305
PROG Holdings
PRG
$1.42B
| $260K | 0.01% |
8,806
+5,676
| +181% | +$169K |
2024 Q2
6 quarters
|
|
1306
Phibro Animal Health
PAHC
$1.53B
| $259K | 0.01% |
6,932
+138
| +2% | +$5.6K |
2023 Q4
8 quarters
|
|
1307
HCI Group
HCI
$2.51B
| $259K | 0.01% |
1,349
-1,777
| -57% | -$335K |
2025 Q3
1 quarter
|
|
1308
AdaptHealth
AHCO
$838M
| $259K | 0.01% |
25,961
+8,254
| +47% | +$78.8K |
2025 Q1
3 quarters
|
|
1309
Vornado Realty Trust
VNO
$6.32B
| $258K | 0.01% |
7,767
-325
| -4% | -$11.9K |
2025 Q2
2 quarters
|
|
1310
World Kinect Corp
WKC
$1.95B
| $258K | 0.01% |
11,027
-35,423
| -76% | -$873K |
2023 Q4
8 quarters
|
|
1311
Array Technologies
ARRY
$715M
| $258K | 0.01% |
28,009
-63,095
| -69% | -$541K |
2025 Q3
1 quarter
|
|
1312
Sturm, Ruger & Co
RGR
$721M
| $257K | 0.01% |
7,879
-423
| -5% | -$15.7K |
2024 Q2
6 quarters
|
|
1313
TPG RE Finance Trust
TRTX
$516M
| $257K | 0.01% |
29,868
-26,133
| -47% | -$232K |
2024 Q1
7 quarters
|
|
1314
Axsome Therapeutics
AXSM
$7.31B
| $257K | 0.01% |
1,408
+854
| +154% | +$119K |
2025 Q1
3 quarters
|
|
1315
AGNC Investment
AGNC
$10.9B
| $257K | 0.01% |
23,946
-6,605
| -22% | -$67.9K |
2025 Q3
1 quarter
|
|
1316
Freedom Holding
FRHC
$11.9B
| $257K | 0.01% |
2,108
-57
| -3% | -$8.27K |
2023 Q4
8 quarters
|
|
1317
Cogent Biosciences
COGT
$5.39B
| $256K | 0.01% |
7,200
+22
| +0.3% | +$618 |
2024 Q2
6 quarters
|
|
1318
Priority Technology Holdings
PRTH
$652M
| $256K | 0.01% |
46,882
-27,945
| -37% | -$173K |
2025 Q1
3 quarters
|
|
1319
Pinnacle Financial Partners Inc
PNFP
$15.5B
| $254K | 0.01% |
2,666
-3,826
| -59% | -$351K |
2025 Q2
2 quarters
|
|
1320
Alphatec Holdings
ATEC
$1.15B
| $254K | 0.01% |
12,069
+1,799
| +18% | +$33.3K |
2024 Q4
4 quarters
|
|
1321
Jack Henry & Associates
JKHY
$11.3B
| $253K | 0.01% |
1,388
+1,070
| +336% | +$178K |
2025 Q2
2 quarters
|
|
1322
PAR Technology
PAR
$750M
| $253K | 0.01% |
6,980
-2,276
| -25% | -$82.1K |
2025 Q3
1 quarter
|
|
1323
Cogent Communications
CCOI
$303M
| $253K | 0.01% |
11,744
+10,564
| +895% | +$312K |
2025 Q1
3 quarters
|
|
1324
Civista Bancshares
CIVB
$590M
| $253K | 0.01% |
+11,392
| New | +$252K |
2025 Q4
0 quarters
|
|
1325
Hillman Solutions
HLMN
$1.62B
| $253K | 0.01% |
29,189
| – | – |
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.