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 | |
|---|---|---|---|---|---|---|---|
1601
Array Digital Infrastructure
AD
$2.91B
| $140K | 0.01% |
2,606
+868
| +50% | +$42.8K |
2023 Q4
8 quarters
|
|
1602
Strategy Inc
MSTR
$55.4B
| $139K | 0.01% |
918
-159
| -15% | -$36.6K |
2024 Q3
5 quarters
|
|
1603
Krystal Biotech
KRYS
$8.76B
| $139K | 0.01% |
565
-99
| -15% | -$20.8K |
2024 Q2
6 quarters
|
|
1604
Brunswick
BC
$5.12B
| $139K | 0.01% |
1,875
+1,116
| +147% | +$75.6K |
2025 Q1
3 quarters
|
|
1605
Bandwidth Inc
BAND
$1.39B
| $139K | 0.01% |
9,005
-1,134
| -11% | -$17.2K |
2024 Q3
5 quarters
|
|
1606
Kyndryl
KD
$2.96B
| $139K | 0.01% |
5,226
-4,925
| -49% | -$134K |
2024 Q1
7 quarters
|
|
1607
Franklin Covey
FC
$196M
| $139K | 0.01% |
8,271
-13,507
| -62% | -$226K |
2024 Q4
4 quarters
|
|
1608
Littelfuse
LFUS
$10B
| $138K | 0.01% |
547
-200
| -27% | -$50.9K |
2025 Q1
3 quarters
|
|
1609
AbbVie
ABBV
$510B
| $138K | 0.01% |
605
-2,351
| -80% | -$536K |
2023 Q4
8 quarters
|
|
1610
Neuropace
NPCE
$424M
| $138K | 0.01% |
8,952
-8,135
| -48% | -$109K |
2025 Q2
2 quarters
|
|
1611
Doximity
DOCS
$5.86B
| $138K | 0.01% |
3,116
+2,050
| +192% | +$115K |
2024 Q1
7 quarters
|
|
|
DFNS
1612
T3 Defense Inc
DFNS
$3.45M
| $138K | 0.01% |
274
+262
| +2,183% | +$216K |
2025 Q2
2 quarters
|
|
1613
Installed Building Products
IBP
$5.86B
| $137K | 0.01% |
527
-34
| -6% | -$8.79K |
2025 Q2
2 quarters
|
|
1614
The Bancorp
TBBK
$1.88B
| $137K | 0.01% |
2,024
+854
| +73% | +$58.9K |
2023 Q4
8 quarters
|
|
1615
Energizer
ENR
$1.66B
| $137K | 0.01% |
6,864
+26
| +0.4% | +$567 |
2024 Q3
5 quarters
|
|
1616
Olin
OLN
$2.07B
| $136K | 0.01% |
6,541
-536
| -8% | -$11.6K |
2024 Q1
7 quarters
|
|
1617
Dorman Products
DORM
$4.11B
| $136K | 0.01% |
1,102
+893
| +427% | +$121K |
2024 Q2
6 quarters
|
|
1618
MDU Resources
MDU
$4.17B
| $136K | 0.01% |
6,945
+6,408
| +1,193% | +$126K |
2025 Q1
3 quarters
|
|
1619
Core Laboratories
CLB
$467M
| $135K | 0.01% |
8,451
-12,169
| -59% | -$181K |
2024 Q1
7 quarters
|
|
1620
DELISTED
Stellar Bancorp
STEL
| $135K | 0.01% |
4,372
+21
| +0.5% | +$645 |
2024 Q1
7 quarters
|
|
1621
Choiceone Financial
COFS
$542M
| $135K | 0.01% |
4,581
| – | – |
2025 Q3
1 quarter
|
|
1622
UMB Financial
UMBF
$10.4B
| $135K | 0.01% |
1,175
-455
| -28% | -$51.5K |
2023 Q4
8 quarters
|
|
1623
Daily Journal
DJCO
$854M
| $135K | 0.01% |
277
| – | – |
2025 Q1
3 quarters
|
|
1624
Ultragenyx Pharmaceutical
RARE
$1.61B
| $135K | 0.01% |
5,859
+5,275
| +903% | +$173K |
2024 Q3
5 quarters
|
|
1625
Norfolk Southern
NSC
$77.6B
| $135K | 0.01% |
466
-6,740
| -94% | -$1.95M |
2025 Q3
1 quarter
|
|
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.