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 | |
|---|---|---|---|---|---|---|---|
1701
Lemonade
LMND
$3.32B
| $112K | 0.01% |
1,580
-179
| -10% | -$12K |
2023 Q4
8 quarters
|
|
1702
Ingersoll Rand
IR
$30.7B
| $112K | 0.01% |
1,416
-11
| -0.8% | -$868 |
2025 Q1
3 quarters
|
|
1703
Procore
PCOR
$9.33B
| $112K | 0.01% |
1,537
-957
| -38% | -$70.8K |
2024 Q1
7 quarters
|
|
1704
DELISTED
Soleno Therapeutics
SLNO
| $111K | 0.01% |
2,408
+608
| +34% | +$33.3K |
2024 Q1
7 quarters
|
|
1705
Summit Midstream
SMC
$427M
| $111K | 0.01% |
4,153
+1,755
| +73% | +$41.7K |
2024 Q4
4 quarters
|
|
1706
Natera
NTRA
$59.7B
| $110K | 0.01% |
480
-51
| -10% | -$10.6K |
2023 Q4
8 quarters
|
|
1707
Powell Industries
POWL
$5.69B
| $110K | 0.01% |
1,032
-168
| -14% | -$18.9K |
2024 Q3
5 quarters
|
|
1708
Starwood Property Trust
STWD
$4.52B
| $110K | 0.01% |
6,087
-3,003
| -33% | -$55.2K |
2024 Q1
7 quarters
|
|
1709
Ryder
R
$10.8B
| $109K | 0.01% |
571
+208
| +57% | +$37.4K |
2024 Q3
5 quarters
|
|
1710
Fulcrum Therapeutics
FULC
$283M
| $109K | 0.01% |
9,658
-25,717
| -73% | -$262K |
2025 Q3
1 quarter
|
|
1711
Evolus
EOLS
$485M
| $109K | 0.01% |
16,413
| – | – |
2025 Q1
3 quarters
|
|
1712
SiteOne Landscape Supply
SITE
$4.78B
| $109K | 0.01% |
873
-92
| -10% | -$11.6K |
2025 Q2
2 quarters
|
|
1713
Alerus Financial
ALRS
$821M
| $108K | 0.01% |
4,816
+2,144
| +80% | +$46.8K |
2025 Q3
1 quarter
|
|
1714
Pebblebrook Hotel Trust
PEB
$2.41B
| $108K | 0.01% |
9,580
+1,894
| +25% | +$20.9K |
2024 Q3
5 quarters
|
|
1715
Summit Therapeutics
SMMT
$12.8B
| $108K | 0.01% |
6,188
-13,108
| -68% | -$247K |
2025 Q1
3 quarters
|
|
1716
Ellington Financial
EFC
$1.47B
| $107K | 0.01% |
7,882
-2,732
| -26% | -$37.2K |
2024 Q4
4 quarters
|
|
1717
Merit Medical Systems
MMSI
$5.17B
| $106K | 0.01% |
1,208
+94
| +8% | +$8K |
2024 Q1
7 quarters
|
|
1718
Americold
COLD
$4.1B
| $106K | 0.01% |
8,279
-22,281
| -73% | -$273K |
2024 Q1
7 quarters
|
|
1719
Under Armour Class C
UA
$2.08B
| $106K | 0.01% |
22,158
| – | – |
2024 Q3
5 quarters
|
|
1720
Digi International
DGII
$2.76B
| $106K | 0.01% |
2,453
-503
| -17% | -$20.1K |
2025 Q1
3 quarters
|
|
1721
Flowers Foods
FLO
$1.33B
| $106K | 0.01% |
9,749
-18,137
| -65% | -$211K |
2024 Q2
6 quarters
|
|
1722
Wynn Resorts
WYNN
$7.69B
| $106K | 0.01% |
881
-34
| -4% | -$4.2K |
2025 Q1
3 quarters
|
|
1723
Palladyne AI
PDYN
$163M
| $106K | 0.01% |
24,862
+5,379
| +28% | +$36.2K |
2025 Q1
3 quarters
|
|
1724
Corteva
CTVA
$7.77B
| $105K | 0.01% |
1,569
-36,660
| -96% | -$2.37M |
2025 Q2
2 quarters
|
|
1725
StoneX
SNEX
$6.37B
| $105K | 0.01% |
2,477
+1,845
| +292% | +$77.3K |
2024 Q1
7 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.