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 | |
|---|---|---|---|---|---|---|---|
2051
Nasdaq
NDAQ
$59.4B
| $28.4K | ﹤0.01% |
292
-277
| -49% | -$24.9K |
2025 Q1
3 quarters
|
|
2052
CSW Industrials
CSW
$4.66B
| $28.2K | ﹤0.01% |
96
-30
| -24% | -$8K |
2025 Q3
1 quarter
|
|
2053
Recursion Pharmaceuticals
RXRX
$2.41B
| $28.1K | ﹤0.01% |
6,879
| – | – |
2025 Q1
3 quarters
|
|
2054
Burlington
BURL
$14.9B
| $28K | ﹤0.01% |
97
-24
| -20% | -$6.51K |
2024 Q1
7 quarters
|
|
2055
Ulta Beauty
ULTA
$27.4B
| $27.8K | ﹤0.01% |
46
-127
| -73% | -$69.8K |
2024 Q1
7 quarters
|
|
2056
SL Green Realty
SLG
$3.57B
| $27.8K | ﹤0.01% |
+605
| New | +$29.9K |
2025 Q4
0 quarters
|
|
2057
Covista Inc
CVSA
$4.13B
| $27.7K | ﹤0.01% |
268
-8,296
| -97% | -$950K |
2024 Q2
6 quarters
|
|
2058
JELD-WEN Holding
JELD
$109M
| $27.5K | ﹤0.01% |
11,169
| – | – |
2024 Q4
4 quarters
|
|
2059
Metallus
MTUS
$875M
| $27.3K | ﹤0.01% |
1,591
+1,445
| +990% | +$24.8K |
2025 Q3
1 quarter
|
|
2060
Chicago Atlantic Real Estate Finance
REFI
$226M
| $27.2K | ﹤0.01% |
2,221
+1,920
| +638% | +$24.5K |
2025 Q1
3 quarters
|
|
2061
Papa John's
PZZA
$607M
| $27.1K | ﹤0.01% |
705
-2,220
| -76% | -$98.1K |
2024 Q4
4 quarters
|
|
2062
Power Integrations
POWI
$2.45B
| $27.1K | ﹤0.01% |
763
-10,981
| -94% | -$416K |
2024 Q1
7 quarters
|
|
2063
Resolute Holdings Management
RHLD
$944M
| $26.8K | ﹤0.01% |
130
| – | – |
2025 Q1
3 quarters
|
|
2064
Repay Holdings
RPAY
$380M
| $26.8K | ﹤0.01% |
7,348
| – | – |
2024 Q3
5 quarters
|
|
2065
Genie Energy
GNE
$433M
| $26.8K | ﹤0.01% |
1,946
+337
| +21% | +$4.96K |
2025 Q2
2 quarters
|
|
2066
Unisys
UIS
$190M
| $26.8K | ﹤0.01% |
9,716
| – | – |
2024 Q4
4 quarters
|
|
2067
GRAIL Inc
GRAL
$6.41B
| $26K | ﹤0.01% |
+304
| New | +$26.3K |
2025 Q4
0 quarters
|
|
2068
Standex International
SXI
$2.99B
| $25.9K | ﹤0.01% |
119
-78
| -40% | -$18.1K |
2025 Q1
3 quarters
|
|
2069
Hamilton Lane
HLNE
$4.63B
| $25.8K | ﹤0.01% |
192
-491
| -72% | -$61.7K |
2024 Q1
7 quarters
|
|
2070
Energy Services of America
ESOA
$175M
| $25.5K | ﹤0.01% |
+3,122
| New | +$30K |
2025 Q4
0 quarters
|
|
2071
Park Aerospace
PKE
$568M
| $25.5K | ﹤0.01% |
+1,194
| New | +$23.8K |
2025 Q4
0 quarters
|
|
2072
Highwoods Properties
HIW
$3.42B
| $25.3K | ﹤0.01% |
980
-6,459
| -87% | -$182K |
2024 Q3
5 quarters
|
|
2073
New Fortress Energy
NFE
$28.1M
| $25.1K | ﹤0.01% |
440
| – | – |
2024 Q1
7 quarters
|
|
2074
Moderna
MRNA
$88.5B
| $24.8K | ﹤0.01% |
841
-35,300
| -98% | -$959K |
2024 Q1
7 quarters
|
|
2075
Baldwin Insurance Group
BWIN
$4.49B
| $24.6K | ﹤0.01% |
1,022
-930
| -48% | -$23.7K |
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.