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 | 12.77% |
| 4 | Technology | 10.66% |
| 5 | Healthcare | 8.6% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1851
Hawaiian Electric Industries
HE
$1.51B
| $73.3K | ﹤0.01% |
5,963
-65,333
| -92% | -$757K |
2024 Q1
7 quarters
|
|
1852
Digimarc Corp
DMRC
$199M
| $72.7K | ﹤0.01% |
11,081
-2,295
| -17% | -$19.5K |
2024 Q4
4 quarters
|
|
1853
First Majestic Silver
AG
$7.03B
| $72.5K | ﹤0.01% |
4,352
| – | – |
2025 Q1
3 quarters
|
|
1854
Western Digital
WDC
$137B
| $72K | ﹤0.01% |
418
-11
| -3% | -$1.67K |
2025 Q1
3 quarters
|
|
1855
Altimmune
ALT
$397M
| $71.6K | ﹤0.01% |
19,820
| – | – |
2025 Q1
3 quarters
|
|
1856
Angi Inc
ANGI
$243M
| $71.5K | ﹤0.01% |
5,529
| – | – |
2025 Q2
2 quarters
|
|
1857
Ivanhoe Electric
IE
$1.23B
| $71.3K | ﹤0.01% |
4,459
-1,229
| -22% | -$17.6K |
2024 Q3
5 quarters
|
|
1858
SiriusXM
SIRI
$9.8B
| $70.4K | ﹤0.01% |
3,522
-49,018
| -93% | -$1.05M |
2024 Q3
5 quarters
|
|
1859
Eton Pharmaceutcials
ETON
$1.49B
| $70.2K | ﹤0.01% |
4,149
-1
| -0% | -$18 |
2025 Q1
3 quarters
|
|
1860
SIGA Technologies
SIGA
$218M
| $68.9K | ﹤0.01% |
11,282
+732
| +7% | +$5.21K |
2025 Q3
1 quarter
|
|
1861
Finance of America Companies
FOA
$96.8M
| $68.7K | ﹤0.01% |
2,837
| – | – |
2025 Q2
2 quarters
|
|
1862
Goosehead Insurance
GSHD
$1.13B
| $68.1K | ﹤0.01% |
924
+49
| +6% | +$3.49K |
2025 Q1
3 quarters
|
|
1863
Alto Neuroscience
ANRO
$887M
| $68K | ﹤0.01% |
+3,821
| New | +$48.1K |
2025 Q4
0 quarters
|
|
1864
DMC Global
BOOM
$192M
| $67.7K | ﹤0.01% |
10,122
+5,644
| +126% | +$39K |
2023 Q4
8 quarters
|
|
1865
Candel Therapeutics
CADL
$637M
| $67.5K | ﹤0.01% |
11,941
| – | – |
2025 Q1
3 quarters
|
|
1866
AMC Global Media
AMCX
$325M
| $67.2K | ﹤0.01% |
7,054
-41,172
| -85% | -$347K |
2024 Q1
7 quarters
|
|
1867
Huckleberry.ai, Inc. Class B Common Stock
HUCK
$148M
| $66.8K | ﹤0.01% |
7,926
+765
| +11% | +$9K |
2023 Q4
8 quarters
|
|
1868
CNB Financial Corp
CCNE
$1.05B
| $66.7K | ﹤0.01% |
2,549
-2,236
| -47% | -$56.7K |
2025 Q3
1 quarter
|
|
1869
Occidental Petroleum
OXY
$64B
| $66.5K | ﹤0.01% |
1,617
-860
| -35% | -$35.9K |
2024 Q3
5 quarters
|
|
1870
Arbor Realty Trust
ABR
$394M
| $65.4K | ﹤0.01% |
8,432
-41,917
| -83% | -$411K |
2025 Q3
1 quarter
|
|
1871
Integra LifeSciences
IART
$992M
| $65.2K | ﹤0.01% |
5,248
+2,843
| +118% | +$37.8K |
2025 Q2
2 quarters
|
|
1872
Aehr Test Systems
AEHR
$1.79B
| $65K | ﹤0.01% |
3,220
-1,169
| -27% | -$28.3K |
2024 Q2
6 quarters
|
|
1873
Ingles Markets
IMKTA
$1.6B
| $64.8K | ﹤0.01% |
946
+628
| +197% | +$45.6K |
2025 Q1
3 quarters
|
|
1874
MillerKnoll
MLKN
$1.48B
| $64.7K | ﹤0.01% |
+3,539
| New | +$57.7K |
2025 Q4
0 quarters
|
|
1875
Organon & Co
OGN
$3.63B
| $64.5K | ﹤0.01% |
8,989
-284
| -3% | -$2.24K |
2023 Q4
8 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.