Research Challenge

The CFA Institute Research Challenge is a global competition that tests the equity research and valuation, investment report writing, and presentation skills of university students. This annual educational initiative promotes best practices in equity research among the next generation of analysts through hands-on mentoring and intensive training in company analysis and presentation skills.

4,000+ Students
2,500+ Industry Volunteers
865+ Universities
137  CFA Member Societies
99 CFA Local Level Challenges
70 Countries

Click here for the 2019 Research Challenge press release



Local CFA Institute volunteers work in conjunction with participating local universities to assemble teams of 3–5 business and finance students, both graduate and undergraduate. Each team works directly with a mentor to research and prepare an equity research report on a publicly traded company.

Each team's findings are locally evaluated by high-profile panels of heads of research, portfolio managers, and chief investment officers from some of the world's top firms. Local champions advance to regional competitions in the Americas, Asia Pacific, and EMEA, and then to the global final.

The Americas Regional and Global Final will take place on April 23-24, 2019 in New York and on April 25, 2019 in New York, respectively. 


Students: Develop your resume/CV through hands-on mentoring and intensive training in company analysis and presentation skills.

Universities: Showcase your university on a global scale and provide your students with practical training and invaluable exposure to top industry professionals.

Mentors and Panelists: Encourage best practices in research within the next generation of investment professionals and help give back to the investment profession in a high-impact manner.

Finding Qualified Talent:  When it comes to hiring interns or entry level specialists, the Local CFA Institute Research Challenge provides access to a pool of highly qualified students.




  • 2020 University of Denver 
  • 2019 University of Denver
  • 2018 University of Denver

  • 2017 University of Denver

  • 2016 Colorado State University

  • 2015 University of Colorado - Boulder

  • 2014 University of Denver

  • 2013 Colorado State University

  • 2012 University of Denver

  • 2011 University of Colorado - Boulder

  • 2010 University of Denver


  • 2019 SM Energy

  • 2018 Liberty Global

  • 2017 Arrow Electronics

  • 2016 DaVita

  • 2015 Charles Schwab

  • 2014 Molson Coors

  • 2013 Ball Corporation

  • 2012 Newmont Mining

  • 2011 Western Union

  • 2010 Chipotle



Kickoff Session –  September 27 at the Daniels College of Business, Denver University 

Corporate Presentation – Wednesday, October 10th at 4:00 PM at SM Energy’s offices

Final Presentations – February 6 at the Wellshire Events Center,  3333 South Colorado Blvd, Denver, CO   80222

Click here to watch a live stream of the event!

America’s Regional Final – New York, April 23-24 2019

Global Final – New York, April 25, 2019



Colorado Mesa University 
Colorado State University
University of Colorado at Boulder
University of Colorado, Colorado Springs 
University of Denver 
University of Wyoming 

Participant Resumes

Subject Company: Advanced Energy Industries

Advanced Energy shapes and transforms how power is used, delivered, and managed.

We are a global leader in the design and manufacturing of highly engineered, precision power conversion, measurement and control solutions for mission-critical applications and processes. Our power solutions enable innovation in complex applications for various industries that include semiconductor equipment, industrial, manufacturing, telecommunications, data center computing, and healthcare.

With engineering know-how and responsive global service and support, we build collaborative partnerships to meet technology advances, propel your growth, and innovate the future of power.

Advanced Energy  | Precision. Power. Performance.






LinkedIn group and a Facebook page had been created for all current and prior participants in CFA Institute Research Challenge – Colorado. All students, volunteers and employees of companies who participated in the Research Challenge are welcome to visit these sites and connect with our alumni network. We will be posting updates about the Research Challenge, make announcements about social events around the Research Challenge, as well job opportunities and educational material.

CFA Institute Research Challenge

Official Rules

Past Champions