After winning the Southeast sub-regional and the first round of the Americas Region, students from Appalachian State University’s Bowden Investment Group concluded their run in the 2026 CFA Institute Research Challenge at the Americas Regional Final.
The team — App State’s 2026 Broyhill Fellows and members of the university's Bowden Investment Group — includes Matt Adkins, Abigail Ledford, Pearce Lowrey, Rian Mofu, and Avin Patel.
The students competed at the Americas Regional Finals against five other universities for a spot in the Global Finals, but they were ultimately edged out by California State University, Fullerton and the University of Waterloo.
"Finishing among the top six teams in the Americas and the top 16 teams in the world is an incredible accomplishment," said Dr. Brandy Hadley, faculty advisor to the students. "In a competition that began with more than 1,000 universities globally, this achievement stands as one of the most significant accomplishments in the history of the Bowden Investment Group and marks only the third time in school history that an Appalachian State team has advanced to this stage."
App State reached the Global Finals in 2025. The Bowden Investment Group’s advancement to the regional final this year marked another strong showing in one of the world’s largest and most competitive equity research competitions.
Related: App State makes historic run in world's largest equity research competition
About App State's Broyhill Fellows
Four to five finance and banking students from Appalachian State University are selected from the membership of the Bowden Investment Group to 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.
2026 Broyhill Fellows stand with certificates and a trophy after winning the CFA Institute Research Challenge Americas Region first round
Photo: CFA Society North Carolina