About UAlbany’s Student-run Investment Fund
The University at Albany School of Business Investment Group (UASBIG) is a student-run investment fund sponsored by the Center for Institution Investment Management (CIIM).
Through UASBIG, undergraduate students manage more than $500,000 of University at Albany Foundation funds. In the process, they learn how to research companies, estimate valuations and present investment proposals.
Students aim to maximize the UASBIG portfolio value through a sound, long-term investment policy, with a goal of outperforming the returns of the S&P 1500 Index.
How UASBIG Works
UASBIG was founded by Massry School of Business undergraduate students who wanted to create a unique learning opportunity for students interested in security analysis and portfolio management.
Our co-founders — Matthew Alfieri, Vincent Cisternino and Michael Reynolds — all graduated from the Financial Analyst Honors Program in 2008. Today, the group is still run by current students and has about 40 members.
Upon joining the group, analysts are placed into a specific industry sector. Analysis in each sector is overseen by a Sector Head, who ensures that student analysts have the support and training they need to complete their work.
UASBIG student members conduct careful analysis and then pitch stocks to the group’s Advisory Board during weekly conference calls. They are then responsible for continuous monitoring of their covered stocks.
UASBIG leaders comprise an Executive Board, whose officers prepare regular performance reports and make annual presentations to the UAlbany Foundation Board.
Advisory Board members are UAlbany faculty members and alumni who use their academic and professional experience to evaluate individual proposals and guide the group’s overall direction. The Advisory Board meets with all UASBIG members at noon each Friday throughout the academic year.
Executive Board
Executive Board
Co-President: Victoria Budesheim
Victoria is a senior from Kings Park, New York, double majoring in Biology and Business Administration with a concentration within the Financial Analyst Honors program, complemented by a minor in Spanish. She has been a member of UASBIG since her sophomore year as an intern in the Healthcare Sector and served as the group's Chief Financial Officer during her junior year.
This past summer, Victoria interned with Citigroup as a Corporate Banking Summer Analyst. Outside of academics, Victoria is the Treasurer of the Women’s Club Soccer team and Beta Beta Beta, a national biological honor society. She enjoys weightlifting and pickup soccer in her free time and is the lead Red Bull student's marketer for the Greater Capital Region.
Co-President: Vincenzo Benedetti
Vincenzo grew up in Clifton Park, New York, and is currently double majoring in the Financial Analyst Honors and the Financial Market Regulation programs. Before becoming Co-President, he was a junior analyst under the Technology Sector, where he now serves as Sector Head.
Outside of school Vinnie brings professional experience as a Licensed Real Estate Agent and Operations Manager for Performance Realty Group. He is also an avid traveler and food enthusiast and a passionate motorcycle rider.
Chief Financial Officer: Jacob Smith
Jacob is a senior from Milford, Ohio, double majoring in Accounting and Business Administration with concentrations in Finance and Entrepreneurship, along with a minor in Economics. He has been a member of UASBIG since his junior year as a junior analyst in the Healthcare Sector and now serves as the group’s Healthcare Sector Head and Chief Financial Officer.
This past summer, Jacob interned at Titan Partners as an Investment Banking Summer Analyst. Outside of academics, Jacob is a member of the UAlbany Division I Men’s Lacrosse Team and enjoys playing pickleball in his free time.
Chief Risk Officer: Oscar Umana
Born and raised in El Salvador, Oscar is currently pursuing a double major in Financial Market Regulation and Business Administration, with a concentration in the Financial Analyst Honors Program. He has been a member of UASBIG since his sophomore year, first as an intern in the Consumer Sector, then as a junior analyst in the Technology Sector.
This past summer, he interned with Brown Brothers Harriman on the Capital Partners Operations team at their headquarters in New York City. Outside of academics, he enjoys weightlifting, playing tennis and reading philosophy.
Chief Operating Officer: Robert Brzezinksi
Robert is a junior from Flourtown, Pennsylvania, majoring in Business Administration with a concentration in the Financial Analyst Honors program and a minor in Psychology. He has been a member of UASBIG since his sophomore year, initially serving as a junior analyst in the Financials Sector and now as the group’s Chief Operating Officer.
This past summer, Robert interned with TIAA as part of its Retirement Solutions internship program. Outside of academics, he enjoys staying active through the gym and pickleball, and is actively involved in Delta Sigma Pi, a co-ed professional business fraternity on campus.
Director of Public Relations and Recruitment: Evelyn Maliza
Evelyn is a senior from Queens, New York, pursuing a double major in Financial Market Regulation and Business Administration with a concentration in Financial Analyst Honors. She has been a member of UASBIG since her sophomore year, as an intern and then as a junior analyst in the Industrial Sector. Over the summer, she interned at Banco Bilbao Vizcaya Argentaria (BBVA) as a Corporate and Investment Banking Summer Analyst.
Outside of academics, Evelyn enjoys running, dance and traveling. She is a brother of Delta Sigma Pi, a professional business fraternity, where she previously served as Senior Vice President and is involved in the Ecuadorian Student Association, where she holds the current Fundraising Chair position.
Meeting Chairman: Griffin Alterio
Griffin grew up in Woodstock, New York. Currently a junior, he is double majoring in Financial Market Regulation and Business Administration with a concentration in the Financial Analyst Honors program. He has been a member of UASBIG since his freshman year as an intern in the Financials Sector, then a junior analyst in the Consumer Sector his sophomore year and now serves as the group’s Meeting Chair and Consumer Sector Head.
Outside of academics, Griffin enjoys golfing, boxing and playing the drums.
Investment Sector
Investment Sector
Financials Sector
Sector Head: Robert Brzezinski
The Financials Sector includes banks, insurance companies, payment networks, asset managers and investment firms that form the backbone of the U.S. financial system.
The sector’s performance is closely tied to interest rates, credit conditions and overall economic growth, with banks benefiting from wider interest margins and capital markets firms benefiting from stronger trading and deal activity.
Overall, financials tend to be cyclical and play a key role in facilitating lending, investment and financial transactions across the economy.
Consumer Sector
Sector Head: Griffin Alterio
In UASBIG, the Consumer Sector includes both consumer defensive and consumer discretionary companies.
Consumer defensive firms provide essential goods such as food, beverages and household products that remain in demand regardless of economic conditions, while consumer discretionary companies sell non-essential products and services like designer apparel, luxury goods and entertainment that typically perform better when economic growth and consumer spending are strong.
Together, these industries reflect shifts in consumer behavior and broader economic trends.
Healthcare Sector
Sector Head: Jacob Smith
The Healthcare Sector of the S&P Composite 1500 Index includes health insurers, pharmaceutical companies, biotechnology firms, medical device manufacturers and healthcare providers.
The sector is shaped by continuous medical innovation, significant research investment and evolving government regulation, making it dynamic and often influenced by both scientific developments and public policy changes.
Energy Sector
Sector Head: Ryan Doherty
The Energy Sector covers the production, distribution and use of energy sources such as fossil fuels, renewables, and nuclear power.
It is essential to the global economy and is currently transforming as companies invest in cleaner technologies, infrastructure and efficiency while navigating regulation and geopolitical risks.
At UASBIG, the Energy sector also includes companies that produce raw materials, such as chemicals, metals, paper and construction materials, to supply essential inputs used across manufacturing, construction and industrial production.
Industrials Sector
Sector Head: Anne Carroll
The Industrials Sector focuses on manufacturing and industrial companies that support the U.S. economy and global supply chains. It includes industries ranging from raw materials to advanced manufacturing like aerospace and defense, with analysis centered on business models and capital structures.
Technology Sector
Sector Head: Vincenzo Benedetti
The Technology sector includes companies that develop software, hardware, semiconductors and internet services. It is a major driver of market growth and innovation, supporting technologies such as cloud computing, artificial intelligence and digital communication.
Technology firms often benefit from high growth potential and significant investment in research and development. However, the sector can also be volatile due to rapid innovation, competition and regulatory changes.
Advisory Board
Advisory Board
Richard Bleser ’04
Rick is vice president at St. Germain Investment Management in Springfield, Massachusetts. Rick was previously the Chief Investment Officer and Director of Research at Berkshire Bank in Lenox, Massachusetts.
Prior to that, he was at Meridian Capital Partners, Inc., where he was responsible for macroeconomic, S&P 500 and hedge fund analysis.
He has also been an equity analyst with Paradigm Capital Management, Inc., where his responsibilities included the generation of long and short investment ideas in the small-cap specialty retail, leisure and technology distribution sectors.
He began his career as a client analyst with The Ayco Co., a Goldman Sachs Co. Rick holds a B.S. in Economics and Business Administration (Financial Analyst Program) from the University at Albany.
Learn more on Richard Bleser's LinkedIn.
Michael Borys ’78, MBA '79
Michael recently retired from an over 40-year career in investment banking and municipal finance, mostly at Goldman Sachs in New York City.
Michael primarily worked as a quantitative and tax specialist overseeing the structuring of a broad variety of debt financings and refinancings.
Michael is the UASBIG Advisory Board representative from the Finance Committee of the UAlbany Foundation board. He is also an Advisory Board member for the Center for Institutional Investment Management.
Learn more on Michael Borys' LinkedIn.
Evan Coffey ’15, CFA
Evan is a credit analyst at Man GLG, a UK-based firm. Prior to this, he worked as an analyst on the High Yield Desk at RW Pressprich & Co. In that role, he developed trading ideas and produced industry research and valuation reports for debt and equity securities.
Evan is a graduate of the UAlbany Financial Analyst Honors Program. While he was a student, he served UASBIG as the Financials sector head.
Learn more on Evan Coffey's LinkedIn.
Brianna Diaz '21
Brianna is an Equity Research Associate with a focus on the Internet sector at Citizens JMP Securities in New York City. Prior to this, she was an investment banking analyst at Citigroup.
Brianna graduated with a double major in the Financial Analyst Honors Program and Accounting. As a student, Brianna was the co-president of UASBIG from 2020 to 2021.
Learn more on Brianna Diaz's LinkedIn.
Joe Esposito ’13
Joe is a product manager for Northwestern Mutual, where he works on building an in-house financial planning software used by the firm’s financial representatives and staff across the U.S.
Prior to that, he was a financial advisor at Morgan Stanley, focusing primarily on investment analysis and financial planning for an ensemble’s high-net-worth client base.
Joe is a graduate of the UAlbany Financial Analyst Honors Program and served as the chief risk officer of UASBIG from 2012 to 2013.
Learn more on Joe Esposito's LinkedIn.
DeForest Hinman ’05, MBA ’16
Enrolled in the Financial Analyst Program during its early stages, DeForest graduated summa cum laude from UAlbany.
After interning at Paradigm Capital Management in 2005, he went back to work full-time as a research analyst. In 2007, DeForest left Paradigm to become a partner in Walthausen & Co., a small-cap value investment management company.
He currently is a research analyst for both the small-cap value fund and small-mid cap value fund. He regularly teaches seminars in security analysis, research and financial modeling to members of UASBIG.
Learn more on DeForest Hinman's LinkedIn.
Dan Hurley ’12
Dan is an equity trader at Apex Capital Holdings in New York. He manages event-driven long/short equity strategies in a proprietary trading book.
Dan completed the Financial Analyst Honors Program at UAlbany and served as co-president of UASBIG from 2011 to 2012.
Learn more on Dan Hurley's LinkedIn.
Ryan Kennedy ’13
Ryan works as a private equity investment manager for Rothschild & Co. in London. Prior to earning his MBA at Judge Business School at Cambridge University, he worked for Point72 and Goldman Sachs in analyst roles.
Ryan graduated from UAlbany with triple majors in Business Administration, Mathematics and Economics. He was co-president of UASBIG from 2011 to 2012.
Learn more on Ryan Kennedy's LinkedIn.
Michael Marciante '21
Michael is a research analyst at Douglass Winthrop Advisors (DAW) in the New York office, where he focuses primarily on the DWA Sustainable Equity Strategy.
Prior to joining DWA, Michael was a research analyst at UBS Asset Management, where he worked as an infrastructure private equity investor, generalist long-only public equity investor and generalist long/short public equity investor.
Michael graduated summa cum laude from UAlbany as a double major in the Financial Analyst Honors Program and Accounting. Michael was the CFO of UASBIG from 2020 to 2021.
Learn more on Michael Marciante's LinkedIn.
Jon Nardi ’10, CFA
Jon started his career at Pride Global as a business analyst, and he recently rejoined the firm as a reporting and analytics manager.
In the interim, he earned an MBA at NYU and worked as an equity research analyst at Paradigm Capital Management and a senior associate at Morgan Stanley.
Jon was a member of UASBIG in its early years, and a graduate of UAlbany’s Financial Analyst Program with a second major in Economics.
Learn more on Jon Nardi's LinkedIn.
George Philip ’69, MA ’73
Mr. Philip was the eighteenth president of the University at Albany, serving from 2009 to 2013. Student analysts are honored that even after his retirement from UAlbany, President Philip’s loyalty to our institution is evidenced in his strong support for our student-managed investment fund.
Prior to his appointment as UAlbany’s president, Mr. Philip had served as executive director of the New York State Teachers’ Retirement System since 1995 and as a chief investment officer for the system since 1992. In addition to his UAlbany degrees, Mr. Philip earned a JD from Western New England College School of Law in Springfield, Massachusetts.
Ryan Ranado ’13, CFA
Ryan is an investment officer at New York State Teachers’ Retirement System (NYSTRS). Prior to that, he was an equity research analyst at Paradigm Capital Management.
Ryan is a graduate of the UAlbany Financial Analyst Honors Program, as well as a former student analyst with UASBIG. He has been a frequent presence on campus in mentoring UASBIG analysts.
Learn more on Ryan Ranado's LinkedIn.
Matt Reiner, MBA ’93, CFA
Matt started his investment career in 1994 as a sell-side research associate with CL King & Associates. He served as senior analyst, vice president and portfolio manager for CL King’s Investment Advisory business, Paradigm Capital Management from 1998 to 2004.
In February 2005, Matt joined Adirondack Funds, where he is currently a portfolio manager. He co-manages the Adirondack Small-Cap Fund (ADKSX), which has received numerous Morningstar national awards.
Learn more on Matt Reiner's LinkedIn.
Etton Soriano ’14
Etton is a research analyst at Rothschild & Co. in Los Angeles. Prior to that, he was an investment banking analyst for Goldman Sachs.
Etton completed the UAlbany Financial Analyst Honors Program. As a student, he was co-president of UASBIG from 2013 to 2014 and also served as the Healthcare sector head.
Learn more on Etton Soriano's LinkedIn.
Xiao Li
Professor Li is a finance faculty member at UAlbany. Learn more on Xiao Li’s faculty page.
Hany A. Shawky
Professor Shawky is a finance faculty member at UAlbany. Learn more on Hany A. Shawky’s faculty page.
David M. Smith, CFA, CMA
Professor Smith is a finance faculty member at UAlbany. Learn more on David M. Smith’s faculty page.
Mary Wladkowski, CFA, FRM, CAIA
Professor Wladkowski is the lead faculty advisor for UASBIG, a longtime finance faculty member at UAlbany and a former bond trader and portfolio manager. Learn more on Mary Wladkowski’s faculty page.
Join UASBIG
Applications are accepted each September. UASBIG hosts an optional information session to help prospective members learn about the group and interview process.
UAlbany freshmen, sophomores and juniors in any major may apply. There are no GPA requirements, but the group seeks students with a solid academic record, as well as excellent critical thinking and time management skills.
Benefits of joining UASBIG
- Apply classroom learning to real investments by managing a portfolio of live assets alongside motivated peers who share your interests
- Build fluency in financial analysis by learning how to read financial statements and company reports, conduct fundamental equity research and value equity securities
- Stand out in a competitive job market by gaining practical experience and building connections with advisory board members who are established professionals in your field
You’ll be expected to take on high-impact responsibilities by actively managing securities and industries and creating and updating extensive Excel modules — work that is both challenging and rewarding!
Alumni Stories
Learn how UASBIG alumni’s experiences at UAlbany prepared them for their investment and portfolio management careers.
UASBIG co-founder Mike Reynolds ’08 is an investment banking analyst at Goldman Sachs, an entrepreneur and a private equity partner at Ultra Capital.
Learn about his career path and how he’s succeeded in the industry.
Will Preston '11 is a portfolio manager at Fenimore Asset Management, with prior roles in equity research at CL King and Renaissance Capital Management.
Hear him discuss his career path and the value of becoming a Chartered Financial Analyst (CFA).
UASBIG News
Massry Students Step Into the Analyst Role Through UASBIG
Through the University at Albany School of Business Investment Group, known as UASBIG, undergraduates at UAlbany's Massry School of Business manage more than $500,000 in University at Albany Foundation funds. Approximately 30 students serve as analysts, balancing coursework with market research, valuation modeling and performance reporting.
Students Credit CFA Challenge With Career-Shaping Skills
UAlbany, undergraduates Sophia Hofer, Kevin Holder, Tyler Rico, Ashar Zahid and team leader Nohl Schwandtner broke new ground at the CFA Institute Research Challenge, finishing among the top 18 universities in the world.
5 Questions with Faculty: David Smith
David Smith is a professor of finance and an associate dean in the School of Business, the director for the Center for Institutional Investment Management (CIIM) and faculty advisor for the University at Albany School of Business Investment Group (UASBIG).
