USU Teams Dominate 2025 CFA Research Challenge, Securing 1st, 2nd Place at State-Level Competition

LOGAN, Utah — Utah State University’s teams continued their legacy of success at the 2025 CFA Research Challenge Utah state-level competition, securing both 1st and 2nd place on Friday. This marks the seventh win in the last eight years for USU and the fifth time the university has swept the top two spots in the prestigious finance competition.

The 1st-place team, composed of Master of Financial Economics students, was captained by Tucker Strow and included team members Paul Johnston, Asher Mitchell and Elliott Nebeker. Taking 2nd place was a team of undergraduate students led by captain Nathan Staker and including Isaac Olson, Brandon Reese and Sarah Reese.

Reflecting on the program’s continued dominance in the competition, Ben Blau, professor and department head and the George S. Eccles Endowed Chair in Finance at the Jon M. Huntsman School of Business, praised the students’ dedication and the unwavering support from faculty and mentors.

“Year after year, our students demonstrate an incredible level of expertise, work ethic and teamwork in this challenge,” Blau said. “Their success is a testament to the strength of our finance program, the commitment of our mentors and the competitive spirit of our students.”

The teams benefited from the guidance of Huntsman School faculty mentors Michael Hendricks, Paul Fjeldsted, Angela Luo, TJ Bond and Todd Griffith, who played a critical role in recruiting students, reviewing multiple drafts of the written report, and providing feedback through extensive practice rounds leading up to the competition.

USU’s continued excellence in the CFA Research Challenge further solidifies its reputation as a leader in finance education. The 1st-place team will advance to the next stage of the competition, where they will compete against top teams from other regions in pursuit of a national title.