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 | |
|---|---|---|---|---|---|---|---|
2001
Hovnanian Enterprises
HOV
$592M
| $38.8K | ﹤0.01% |
398
-2,839
| -88% | -$335K |
2024 Q4
4 quarters
|
|
2002
NextDecade
NEXT
$1.98B
| $38.8K | ﹤0.01% |
7,354
+3,205
| +77% | +$19.1K |
2025 Q1
3 quarters
|
|
2003
Abbott
ABT
$184B
| $38.7K | ﹤0.01% |
309
-869
| -74% | -$111K |
2025 Q3
1 quarter
|
|
2004
Latham Group
SWIM
$860M
| $38.4K | ﹤0.01% |
6,051
-130,341
| -96% | -$912K |
2025 Q3
1 quarter
|
|
2005
Usana Health Sciences
USNA
$264M
| $38.3K | ﹤0.01% |
1,949
| – | – |
2024 Q3
5 quarters
|
|
2006
Hudson Technologies
HDSN
$181M
| $38K | ﹤0.01% |
+5,550
| New | +$43.7K |
2025 Q4
0 quarters
|
|
2007
John B. Sanfilippo & Son
JBSS
$630M
| $37.8K | ﹤0.01% |
536
-456
| -46% | -$31K |
2024 Q2
6 quarters
|
|
2008
Tanger
SKT
$4.22B
| $37.5K | ﹤0.01% |
1,125
+254
| +29% | +$8.47K |
2024 Q2
6 quarters
|
|
2009
J. Jill
JILL
$356M
| $37.4K | ﹤0.01% |
2,727
+730
| +37% | +$11K |
2024 Q3
5 quarters
|
|
2010
Ventas
VTR
$44.8B
| $37.1K | ﹤0.01% |
480
-163
| -25% | -$12.3K |
2024 Q4
4 quarters
|
|
2011
T-Mobile US
TMUS
$166B
| $36.8K | ﹤0.01% |
181
-433
| -71% | -$91.8K |
2024 Q3
5 quarters
|
|
2012
Annaly Capital Management
NLY
$14.4B
| $36.7K | ﹤0.01% |
1,643
-563
| -26% | -$12.3K |
2025 Q3
1 quarter
|
|
2013
Chipotle Mexican Grill
CMG
$40.3B
| $36.6K | ﹤0.01% |
989
+376
| +61% | +$13.6K |
2023 Q4
8 quarters
|
|
2014
Sagimet Biosciences
SGMT
$703M
| $36.6K | ﹤0.01% |
6,174
-111,085
| -95% | -$798K |
2025 Q3
1 quarter
|
|
2015
Kodak
KODK
$859M
| $36.3K | ﹤0.01% |
4,289
| – | – |
2025 Q1
3 quarters
|
|
2016
Houlihan Lokey
HLI
$9.6B
| $36.2K | ﹤0.01% |
208
-186
| -47% | -$34.1K |
2024 Q3
5 quarters
|
|
2017
Bowman Consulting
BWMN
$712M
| $36.2K | ﹤0.01% |
1,096
| – | – |
2025 Q2
2 quarters
|
|
2018
KRONOS Worldwide
KRO
$863M
| $36K | ﹤0.01% |
8,146
| – | – |
2024 Q1
7 quarters
|
|
2019
Palantir
PLTR
$442B
| $35.2K | ﹤0.01% |
198
-227
| -53% | -$41.1K |
2025 Q2
2 quarters
|
|
2020
Kingstone Companies
KINS
$292M
| $35K | ﹤0.01% |
+2,079
| New | +$31.6K |
2025 Q4
0 quarters
|
|
2021
Delta Air Lines
DAL
$52.7B
| $34.8K | ﹤0.01% |
501
+57
| +13% | +$3.56K |
2024 Q3
5 quarters
|
|
2022
Astera Labs
ALAB
$44.9B
| $34.6K | ﹤0.01% |
208
-616
| -75% | -$103K |
2025 Q3
1 quarter
|
|
2023
Texas Pacific Land
TPL
$22.9B
| $33.6K | ﹤0.01% |
117
-69
| -37% | -$21.1K |
2025 Q1
3 quarters
|
|
2024
Target Hospitality
TH
$1.34B
| $33.6K | ﹤0.01% |
4,189
+2,329
| +125% | +$17.7K |
2023 Q4
8 quarters
|
|
2025
Transcat
TRNS
$808M
| $33.5K | ﹤0.01% |
591
-1,101
| -65% | -$68.6K |
2025 Q2
2 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.