Research Challenge

CFA Institute Research Challenge

The CFA Institute Research Challenge is an annual global competition that connects university students with investment professionals from within the CFA Society® network. The competition provides students with hands-on mentoring and intensive training in financial analysis and ethics and tests participants' analytical, valuation, reporting writing, and presentation skills.

Members of our society, along with a faculty advisor and an industry mentor, work with teams of students to value a stock, write a research report, and present their recommendations. Teams then compete with peers from other schools at local-level competitions organized and judged by CFA Society members and volunteers. The winning university team(s) from each local competition then advances to see who will become the sub-regional, regional, and global champions. 

Learn more and read FAQs See the schedule and get involved

Congratulations to James Carleton, Edward Read, and Emerson Khambatta from the University of Denver Daniels College of Business for advancing from the Sub-Regional competition to the Americas Regional Semifinals in the 2026 CFA Institute Research Challenge—an incredible accomplishment that reflects the discipline and thoughtfulness they brought to the competition.


The 2026 CFACO Research Challenge brought together more than 20 university students from Colorado and Wyoming for a full experience that mirrors the work of investment professionals. Each team presented a full equity research report to a panel of industry judges, showcasing strong analysis, clear recommendations, and professionalism throughout. We wrapped the event with a happy hour alongside students, advisors, judges, and CFACO members—creating space for meaningful connection and conversation across the community.