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
|
+$11.1M |
| 2 |
Associated Banc-Corp
ASB
|
+$5M |
| 3 |
Oshkosh
OSK
|
+$4.5M |
| 4 |
ABM Industries
ABM
|
+$4.45M |
| 5 |
FNB Corp
FNB
|
+$4.28M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Campbell Soup
CPB
|
+$3.42M |
| 2 |
Corning
GLW
|
+$3.2M |
| 3 |
Keysight
KEYS
|
+$2.94M |
| 4 |
MetLife
MET
|
+$2.87M |
| 5 |
Zoom
ZM
|
+$2.8M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 21.83% |
| 2 | Industrials | 16.1% |
| 3 | Technology | 11.45% |
| 4 | Consumer Discretionary | 10.38% |
| 5 | Healthcare | 8.79% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
iShares 7-10 Year Treasury Bond ETF
IEF
$41.8B
| $39M | 2.55% |
404,037
+115,872
| +40% | +$11.1M |
2025 Q2
1 quarter
|
|
2
State Street SPDR Portfolio Intermediate Term Treasury ETF
SPTI
$11B
| $6.49M | 0.42% |
224,663
+20,701
| +10% | +$595K |
2025 Q2
1 quarter
|
|
3
Schwab Intermediately-Term US Treasury ETF
SCHR
$13.6B
| $6.49M | 0.42% |
258,354
+23,892
| +10% | +$597K |
2025 Q2
1 quarter
|
|
4
Vanguard Intermediate-Term Treasury ETF
VGIT
$40.4B
| $6.49M | 0.42% |
108,106
+9,995
| +10% | +$597K |
2025 Q2
1 quarter
|
|
5
iShares 3-7 Year Treasury Bond ETF
IEI
$17.1B
| $6.49M | 0.42% |
54,265
+5,048
| +10% | +$600K |
2025 Q2
1 quarter
|
|
6
PNC Financial Services
PNC
$90.9B
| $5.89M | 0.38% |
29,309
+6,620
| +29% | +$1.31M |
2024 Q4
3 quarters
|
|
7
Citizens Financial Group
CFG
$26.7B
| $5.88M | 0.38% |
110,551
+55,650
| +101% | +$2.77M |
2023 Q4
7 quarters
|
|
8
Hancock Whitney
HWC
$5.78B
| $5.22M | 0.34% |
83,365
+62,143
| +293% | +$3.81M |
2023 Q4
7 quarters
|
|
|
9
Associated Banc-Corp
ASB
$5.63B
| $5.01M | 0.33% |
+194,911
| New | +$5M |
2025 Q3
0 quarters
|
|
10
Johnson & Johnson
JNJ
$658B
| $4.98M | 0.33% |
26,874
+15,645
| +139% | +$2.68M |
2023 Q4
7 quarters
|
|
11
Fulton Financial
FULT
$4.48B
| $4.97M | 0.33% |
266,955
+128,443
| +93% | +$2.43M |
2024 Q1
6 quarters
|
|
12
Verizon
VZ
$185B
| $4.91M | 0.32% |
111,799
+67,692
| +153% | +$2.93M |
2023 Q4
7 quarters
|
|
13
Prosperity Bancshares
PB
$8.62B
| $4.86M | 0.32% |
73,221
+42,560
| +139% | +$2.92M |
2025 Q1
2 quarters
|
|
14
Regions Financial
RF
$24.3B
| $4.82M | 0.31% |
182,693
+95,826
| +110% | +$2.49M |
2024 Q1
6 quarters
|
|
15
Ameris Bancorp
ABCB
$5.53B
| $4.81M | 0.31% |
65,672
+50,953
| +346% | +$3.59M |
2023 Q4
7 quarters
|
|
16
Veralto
VLTO
$27B
| $4.73M | 0.31% |
44,335
+28,599
| +182% | +$3.02M |
2025 Q2
1 quarter
|
|
17
Morgan Stanley
MS
$288B
| $4.7M | 0.31% |
29,568
+23,599
| +395% | +$3.48M |
2024 Q2
5 quarters
|
|
18
Copart
CPRT
$27.9B
| $4.66M | 0.3% |
103,526
+77,697
| +301% | +$3.66M |
2024 Q3
4 quarters
|
|
19
FirstEnergy
FE
$27.2B
| $4.56M | 0.3% |
99,586
+65,874
| +195% | +$2.81M |
2024 Q2
5 quarters
|
|
20
Bankunited
BKU
$3.06B
| $4.54M | 0.3% |
118,868
+76,520
| +181% | +$2.9M |
2024 Q3
4 quarters
|
|
|
21
Oshkosh
OSK
$8.53B
| $4.52M | 0.3% |
34,820
+33,939
| +3,852% | +$4.5M |
2023 Q4
7 quarters
|
|
22
Bank of New York Mellon
BNY
$99B
| $4.51M | 0.29% |
+41,401
| New | +$4.22M |
2025 Q3
0 quarters
|
|
23
Armstrong World Industries
AWI
$6.96B
| $4.46M | 0.29% |
22,769
+915
| +4% | +$170K |
2024 Q2
5 quarters
|
|
24
TJX Companies
TJX
$154B
| $4.46M | 0.29% |
30,833
+17,850
| +137% | +$2.37M |
2023 Q4
7 quarters
|
|
25
General Dynamics
GD
$101B
| $4.42M | 0.29% |
12,971
+9,523
| +276% | +$3M |
2024 Q4
3 quarters
|
|
Similar funds
AlphaQuest's Q3 2025 Portfolio in Review
As of Q3 2025, AlphaQuest held 2,291 positions worth $1.53B, up 50% from $1.02B the previous quarter. Its ten largest holdings account for 6% of the portfolio.
AlphaQuest deployed $468M of net new capital in Q3 2025, opening 307 new positions and adding to 1,060 existing holdings. Its largest new stake was Associated Banc-Corp: 194,911 shares worth $5.01M.
By sector, the portfolio is most concentrated in Financials at 22% of assets, down from 22% a quarter earlier, followed by Industrials and Technology.
On the sell side, the largest reduction was Campbell Soup, an estimated $3.42M trimmed.
- AlphaQuest's largest Q3 2025 buy was Associated Banc-Corp: 194,911 shares worth $5.01M.
- AlphaQuest added most to iShares 7-10 Year Treasury Bond ETF in Q3 2025, an estimated $11.1M increase.
- AlphaQuest's biggest Q3 2025 reduction was Campbell Soup, cutting an estimated $3.42M.
- AlphaQuest fully exited iShares 20+ Year Treasury Bond ETF in Q3 2025, selling an estimated $2.54M.
- AlphaQuest's ten largest holdings make up 6% of its $1.53B portfolio in Q3 2025.
- AlphaQuest opened 307 new positions and closed 54 in Q3 2025.
- AlphaQuest's portfolio value rose 50% quarter-over-quarter to $1.53B.
Based on AlphaQuest's 13F filing for Q3 2025, filed 3 Nov 2025.