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 | |
|---|---|---|---|---|---|---|---|
1676
Five Star Bancorp
FSBC
$1.1B
| $119K | 0.01% |
3,320
| – | – |
2025 Q1
3 quarters
|
|
1677
RH
RH
$2.78B
| $119K | 0.01% |
663
-1,063
| -62% | -$182K |
2025 Q1
3 quarters
|
|
1678
Dollar General
DG
$29.2B
| $118K | 0.01% |
891
-18,145
| -95% | -$2.02M |
2023 Q4
8 quarters
|
|
1679
Neighborhood Intelligence Inc
NXH
$168M
| $118K | 0.01% |
21,636
-2,590
| -11% | -$18.8K |
2024 Q1
7 quarters
|
|
1680
4D Molecular Therapeutics
FDMT
$657M
| $118K | 0.01% |
15,731
+436
| +3% | +$4.42K |
2025 Q3
1 quarter
|
|
1681
First Financial Bankshares
FFIN
$4.39B
| $118K | 0.01% |
3,941
-5,404
| -58% | -$170K |
2025 Q2
2 quarters
|
|
1682
Ramaco Resources Class A
METC
$449M
| $117K | 0.01% |
6,526
+1,066
| +20% | +$28K |
2024 Q4
4 quarters
|
|
1683
Lexeo Therapeutics
LXEO
$258M
| $116K | 0.01% |
+11,726
| New | +$107K |
2025 Q4
0 quarters
|
|
1684
Hyster-Yale Materials Handling
HY
$511M
| $116K | 0.01% |
3,912
+1,142
| +41% | +$37.7K |
2024 Q1
7 quarters
|
|
1685
Philip Morris
PM
$325B
| $116K | 0.01% |
724
-2,469
| -77% | -$383K |
2023 Q4
8 quarters
|
|
1686
Resources Connection
RGP
$92.3M
| $116K | 0.01% |
23,011
| – | – |
2024 Q2
6 quarters
|
|
1687
Spyre Therapeutics
SYRE
$9.02B
| $116K | 0.01% |
3,538
-62,625
| -95% | -$1.64M |
2024 Q2
6 quarters
|
|
1688
Hecla Mining
HL
$9.09B
| $116K | 0.01% |
6,026
-525
| -8% | -$8.02K |
2025 Q3
1 quarter
|
|
1689
RadNet
RDNT
$5.78B
| $115K | 0.01% |
1,615
-4,058
| -72% | -$313K |
2024 Q1
7 quarters
|
|
1690
UWM Holdings
UWMC
$542M
| $115K | 0.01% |
26,284
| – | – |
2024 Q2
6 quarters
|
|
1691
Trimble
TRMB
$15.1B
| $115K | 0.01% |
1,469
-10,293
| -88% | -$820K |
2025 Q3
1 quarter
|
|
1692
Northrim BanCorp
NRIM
$531M
| $115K | 0.01% |
4,323
-1
| -0% | -$24 |
2025 Q1
3 quarters
|
|
1693
Carlyle Group
CG
$14.3B
| $115K | 0.01% |
1,940
+660
| +52% | +$37.5K |
2024 Q1
7 quarters
|
|
1694
Savers
SVV
$1.43B
| $115K | 0.01% |
12,264
-19,399
| -61% | -$199K |
2024 Q4
4 quarters
|
|
1695
Wintrust Financial
WTFC
$10.3B
| $115K | 0.01% |
819
-1,849
| -69% | -$246K |
2025 Q1
3 quarters
|
|
1696
Rapport Therapeutics
RAPP
$1.41B
| $114K | 0.01% |
+3,754
| New | +$104K |
2025 Q4
0 quarters
|
|
1697
Runway Growth Finance
RWAY
$273M
| $114K | 0.01% |
12,733
-27,160
| -68% | -$258K |
2024 Q3
5 quarters
|
|
1698
CTO Realty Growth
CTO
$764M
| $113K | 0.01% |
6,165
+2,206
| +56% | +$37.7K |
2024 Q1
7 quarters
|
|
1699
Horizon Bancorp
HBNC
$1.06B
| $113K | 0.01% |
6,635
+1,397
| +27% | +$23.1K |
2024 Q1
7 quarters
|
|
1700
Rayonier
RYN
$5.77B
| $112K | 0.01% |
5,195
-10,604
| -67% | -$240K |
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.