UT San Antonio Students Manage $2.5 Million Investment Fund, Gain Real-World Finance Experience Before Graduation
For students preparing to enter the competitive world of finance, experience can be just as valuable as a college degree. At the University of Texas at San Antonio, a group of business students is getting an unusual opportunity to build both, managing a real $2.5 million investment portfolio while learning directly from professionals who make financial decisions for a living.
The student-managed investment fund at UT San Antonio's Carlos Alvarez College of Business is helping undergraduate and graduate students develop skills in stock analysis, portfolio management and investment decision-making. The experience also connects students with alumni and financial industry leaders, creating opportunities that could help launch their careers in San Antonio and beyond.
According to a November 3, 2026, university news report by Wendy Frost, 22 students participated in the program's first year managing a live investment portfolio. Over nine months, the fund grew by 18.8%, outperforming its benchmark by 0.5 percentage points and generating nearly $500,000 in investment gains.
For San Antonio families considering local higher education opportunities, the program offers an example of how university coursework can translate into practical career preparation without students having to leave the community to gain meaningful industry experience.
How UT San Antonio Students Are Learning to Manage Real Investments
The Securities Analysis course is taught by Ron Sweet, MBA '91, a professor of practice in finance and faculty advisor to the university's Investment Society.
Although the course existed before, the previous academic year marked the first time students were entrusted with managing an actual investment portfolio owned by the University of Texas/Texas A&M Investment Management Company (UTIMCO).
Students were selected through a competitive application process and assigned to teams covering investment sectors such as technology, energy and healthcare.
The class initially invested in exchange-traded funds representing sectors of the S&P 500. As students researched individual companies, evaluated financial performance and presented investment recommendations, they gradually replaced those funds with individual stocks.
The portfolio now contains 42 stocks.
“We started off buying exchange-traded funds that matched the sectors in the S&P 500,” Sweet told UT San Antonio. “Then I divided the class into teams by sectors such as technology, energy or healthcare. Students learned how to do evaluations and analyses of companies, and how to present their investment recommendations.”
Students developed screening models, researched potential investments and narrowed their selections to three stocks to pitch to the class.
The process closely resembles the responsibilities of professional equity research analysts, who study businesses and financial markets before recommending investment decisions.
San Antonio Finance Students Connect With Industry Leaders and Alumni
Beyond managing the investment portfolio, students received an opportunity that can be difficult to find in a traditional classroom: direct feedback from people working in the financial industry.
Sweet invited more than 100 alumni and finance professionals to participate in student stock presentations throughout the year.
Those professionals challenged students' research, questioned their assumptions and offered guidance based on their own experiences in investment management, banking and financial analysis.
San Antonio-based companies Frost, Valero and Victory Capital also hosted stock pitch competitions, giving students additional opportunities to present their findings to industry professionals.
For Andrew Dietz, a senior finance major, those interactions provided insight into possible career paths.
“The speakers helped me get a deep dive into how professionals think and their processes to finding great companies,” Dietz said in the university's report. “Most of the speakers started out as UTSA students in the exact position that I am in, so they gave great advice on how to be successful in my future career.”
The program also reconnects university graduates with current students.
Andrew Hernandez, a 2022 graduate who now works as an equity research associate at Jefferies in New York City, mentored 2026 finance graduate Eugene Trevino on a real estate investment presentation.
Their discussions helped Trevino refine his industry research and prepare a stock pitch that he also presented during a competition at Frost.
For students hoping to pursue careers in financial services, those relationships can provide professional perspectives and networking opportunities that extend beyond graduation.
Building Career Skills Beyond Financial Analysis
While the portfolio's investment performance is a significant achievement, the program's broader purpose is preparing students to make informed decisions under realistic conditions.
Participants gain experience using Bloomberg financial tools, analyzing company financial statements, building Excel models and presenting investment recommendations.
They also learn to defend their conclusions when professionals disagree with their assessments.
Nicholas Sanderson, a senior finance major who interned with Frost during the summer, said the program's most important lessons went beyond technical knowledge.
“However, I found that the most valuable takeaway was non-technical. Rather, it’s the ability to construct a thesis, support it with data and communicate it with enough conviction that the team was willing to act.”
Those communication and decision-making skills are applicable to careers in corporate finance, investment banking, asset management and other business fields.
Reed Knapp, a graduate finance student, similarly found value in learning how experienced professionals approached investment research. Their feedback demonstrated that classroom methods often closely resemble the processes used in professional financial analysis.
Knapp also learned that capable analysts can review the same information and reach different conclusions, making the ability to explain and defend a recommendation particularly important.
Investment Society Expands Hands-On Learning Opportunities
The student-managed fund is not limited to those enrolled in the Securities Analysis course.
Through the Carlos Alvarez College of Business Investment Society, additional students can participate in portfolio discussions and investment research.
During weekly meetings, members review stock movements, evaluate potential buying and selling opportunities and typically discuss two or three companies.
This approach allows more students to participate in the investment process, rather than reserving portfolio management exclusively for a small group of graduate students.
Sweet emphasized that the ability to make decisions is a central part of the experience.
“One thing I emphasize is the purpose of finance is not analysis,” Sweet said. “The purpose of finance is to make decisions. If all you’re doing is analysis, which you do a lot in college, that is only part of the process. Our students get a chance to make actual decisions when they determine if we are buying or selling within our portfolio.”
Students also review the portfolio's performance each week, observing which investments are succeeding and which are falling short of expectations.
That accountability adds another dimension to their education. Unlike hypothetical classroom exercises, the decisions students make affect an actual investment portfolio.
The initiative builds on existing experiential learning opportunities at the college, including the Investment Society's Sector Wars stock portfolio competition and the CFA Research Challenge, an international competition involving professional-level financial research.
Why the Program Matters for San Antonio's Future Workforce
For San Antonio, programs that connect higher education with practical business experience can play an important role in preparing the next generation of professionals.
UT San Antonio's Carlos Alvarez College of Business serves students pursuing careers across finance, accounting, management and other business disciplines. The student-managed investment fund adds another opportunity for students to graduate with work they can discuss and demonstrate during job interviews.
Participants can leave the program with investment research, stock pitch presentations and recorded examples of their professional communication skills.
The involvement of established San Antonio businesses also illustrates how local employers and university alumni can contribute to workforce development by sharing expertise with students before they enter the job market.
While the fund's initial returns are encouraging, investment performance can fluctuate, and the program's educational value is not dependent on consistently outperforming the market.
For Sweet, the goal is to balance responsible portfolio management with meaningful learning experiences.
The program also offers students a clearer picture of the demands of a finance career, helping them understand what professional expectations look like before they begin applying for full-time positions.
What's Next for UT San Antonio's Student-Managed Investment Fund?
With the first year of live portfolio management completed, Sweet hopes to expand the program's connections with alumni and financial industry professionals.
He is encouraging graduates and business leaders to participate by evaluating student stock pitches, delivering classroom presentations or hosting investment competitions at their workplaces.
The continued involvement of industry professionals could provide students with additional opportunities for mentorship and career development while strengthening connections between UT San Antonio and the broader financial community.
For the students who helped manage the initial $2.5 million portfolio, the experience represents more than a classroom assignment. It is an opportunity to enter the workforce having already participated in investment decisions, defended their research and worked with experienced financial professionals.
As San Antonio continues investing in higher education and workforce development, initiatives like the student-managed fund demonstrate how partnerships between universities, alumni and local employers can help prepare students for opportunities ahead.
Stay connected with My Neighborhood News for more stories about San Antonio education, student achievements, workforce development and the people helping shape the community's future.
Tiffany Krenek has been on the My Neighborhood News team since August 2021. She is passionate about curating and sharing content that enriches the lives of our readers in a personal, meaningful way. A loving mother and wife, Tiffany and her family live in the West Houston/Cypress region.
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