Appalachian State University students have won the sub-regional (North Carolina) round of the CFA Institute Research Challenge, a global security analysis competition.
The students — Keira Andrews, Carson Beane, Jack Parquette, Davis Pharr, and Brenden Wortman — comprise the Broyhill Fellows, a subset of the Bowden Investment Group.
"The students' success results from countless hours of research, in-depth financial modeling, a meticulously crafted analyst report, and rigorous presentation preparation," said Dr. Brandy Hadley, faculty advisor to the group. "They are excellent representatives of Appalachian State, and we are incredibly proud of them!"
Hadley said the team relied upon advice and mentorship from Patrick Wells, Senior Portfolio Manager at Broyhill Asset Management, Dr. Delbert Goff, former advisor and professor, and past CFA Institute Research Challenge team members.
App State teams have won thirteen out of seventeen years that the competition has been held in North Carolina. App State is also the only university in the state to have reached the finals every year since the competition’s inception.
Final Standings – 2025 North Carolina Competition
- Appalachian State University
- University of North Carolina Wilmington
- Elon University
- University of North Carolina Greensboro
- SKEMA Business School
CFA Institute Research Challenge – Regional Competition
Next, the Broyhill Fellows will represent App State and North Carolina in the regional round of the CFA Institute Research Challenge, competing for the Southeastern title against Mercer University, University of Tennessee at Chattanooga, Stetson University, Rhodes College, Florida State University, and Indiana University Southeast.
About App State's Broyhill Fellows
Selected from the membership of the Bowden Investment Group, four to five finance and banking students from Appalachian State University students participate annually in the CFA Institute Research Challenge. Named the Broyhill Fellows in honor of the Walker College of Business' long-standing relationship with the Broyhill Family, the students are mentored by employees of Broyhill Asset Management.
About App State's Bowden Investment Group
The Elbert V. Bowden Investment Group allows students to gain hands-on investment experience as part of an investment management course. The Elbert V. Bowden Student Managed Investment Fund was established in January 2000 in the Department of Finance, Banking, and Insurance at Appalachian State University, and financial donations from alumni, faculty, businesses, and other supporters have added to the fund's total net assets. Students analyze investment opportunities and manage a real investment portfolio, aiming for a return on invested funds that exceeds the return on the S&P 500 Index. Learn more at https://big.appstate.edu.
About App State's Department of Finance, Banking and Insurance
The Department of Finance, Banking, and Insurance develops leaders for business, government and education by offering a Bachelor of Science in business administration in two specializations: finance and banking, and risk management and insurance. Learn more at https://finance.appstate.edu.
Broyhill Fellows win NC CFA Institute research challenge
From left to right: Brenden Wortman, Carson Beane, Keira Andrews, Jack Parquette, Davis Pharr