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 | |
|---|---|---|---|---|---|---|---|
1451
Repligen
RGEN
$11.4B
| $198K | 0.01% |
1,207
-1,884
| -61% | -$295K |
2025 Q2
2 quarters
|
|
1452
Rapid7
RPD
$1.01B
| $198K | 0.01% |
12,998
-8,995
| -41% | -$148K |
2024 Q2
6 quarters
|
|
1453
PureCycle Technologies
PCT
$673M
| $197K | 0.01% |
22,912
-3,007
| -12% | -$31.9K |
2024 Q3
5 quarters
|
|
1454
Lincoln National
LNC
$8.05B
| $197K | 0.01% |
4,415
+709
| +19% | +$29.5K |
2023 Q4
8 quarters
|
|
1455
F5
FFIV
$18.8B
| $196K | 0.01% |
768
-1,416
| -65% | -$381K |
2023 Q4
8 quarters
|
|
1456
Badger Meter
BMI
$4.53B
| $196K | 0.01% |
1,122
+752
| +203% | +$135K |
2025 Q3
1 quarter
|
|
1457
Scholar Rock
SRRK
$5.38B
| $196K | 0.01% |
4,440
+1,025
| +30% | +$38.4K |
2024 Q1
7 quarters
|
|
1458
SPS Commerce
SPSC
$3.07B
| $195K | 0.01% |
2,189
-1,235
| -36% | -$115K |
2024 Q1
7 quarters
|
|
1459
Phreesia
PHR
$761M
| $195K | 0.01% |
11,529
-18,042
| -61% | -$372K |
2024 Q1
7 quarters
|
|
1460
Yelp
YELP
$1.06B
| $195K | 0.01% |
6,402
-98,559
| -94% | -$3.04M |
2023 Q4
8 quarters
|
|
1461
GitLab
GTLB
$8.71B
| $195K | 0.01% |
5,184
-1,462
| -22% | -$63.3K |
2025 Q2
2 quarters
|
|
1462
Southern Copper
SCCO
$147B
| $195K | 0.01% |
1,413
+96
| +7% | +$12.4K |
2024 Q1
7 quarters
|
|
1463
AerSale
ASLE
$235M
| $194K | 0.01% |
27,351
+15,311
| +127% | +$108K |
2025 Q1
3 quarters
|
|
1464
Dentsply Sirona
XRAY
$1.97B
| $194K | 0.01% |
16,955
-10,002
| -37% | -$117K |
2024 Q1
7 quarters
|
|
1465
First Mid Bancshares
FMBH
$1.36B
| $194K | 0.01% |
+4,969
| New | +$189K |
2025 Q4
0 quarters
|
|
1466
LTC Properties
LTC
$2.46B
| $193K | 0.01% |
5,603
-16,853
| -75% | -$594K |
2024 Q3
5 quarters
|
|
1467
Perdoceo Education
PRDO
$1.85B
| $193K | 0.01% |
6,567
+4,166
| +174% | +$132K |
2024 Q2
6 quarters
|
|
1468
World Acceptance Corp
WRLD
$787M
| $192K | 0.01% |
1,370
-1,721
| -56% | -$259K |
2023 Q4
8 quarters
|
|
1469
Anterix
ATEX
$1.7B
| $192K | 0.01% |
8,802
+3,367
| +62% | +$69.9K |
2024 Q3
5 quarters
|
|
1470
FedEx
FDX
$74.6B
| $192K | 0.01% |
665
-1,987
| -75% | -$522K |
2024 Q3
5 quarters
|
|
1471
Core Scientific
CORZ
$4.26B
| $192K | 0.01% |
13,190
-41,960
| -76% | -$732K |
2025 Q3
1 quarter
|
|
1472
PENN Entertainment
PENN
$2.28B
| $192K | 0.01% |
12,991
-159
| -1% | -$2.48K |
2024 Q3
5 quarters
|
|
1473
Selective Insurance
SIGI
$6.01B
| $192K | 0.01% |
2,290
+1,398
| +157% | +$112K |
2024 Q2
6 quarters
|
|
1474
Viant Technology
DSP
$266M
| $191K | 0.01% |
15,902
-5,981
| -27% | -$59.8K |
2025 Q1
3 quarters
|
|
1475
F&G Annuities & Life
FG
$2.83B
| $191K | 0.01% |
6,186
+5,283
| +585% | +$165K |
2024 Q3
5 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.