Babson College home Centers & Institutes
BCF Hero

Gain Hands-on Portfolio Management Skills

The Babson College Fund (BCF) is an accredited, experiential learning course in which a select group of undergraduate and graduate students manages $8 million of the Babson College endowment. Designed for highly motivated students with a strong interest in finance and investments, the program requires a two‑semester commitment and offers a rigorous, real‑world immersion in equity research and portfolio management. Through this hands‑on experience, students build the analytical, decision‑making, and professional skills that are highly valued across the investment industry.

portfolio balance

Babson’s student‑managed fund operates an $8 million long/short equity portfolio, giving members hands‑on experience in fundamental research and portfolio management under the guidance of a diverse group of industry professionals. Students are organized into sector teams, where they develop specialized industry expertise, generate investment ideas, and actively contribute to the fund’s performance—applying classroom concepts to real‑world decision‑making in a professional, high‑stakes environment.

BCF finance lab

Students commit to a minimum of two semesters—ideally a full year—to ensure continuity in managing the fund. Recruitment takes place during the fall, spring, and summer, and student managers are selected through a competitive process led by the faculty director, executives‑in‑residence, and experienced members of the program.

BCF finance lab

The Babson College Fund aims to outperform the S&P 500 Index through disciplined, research‑driven investing. Student managers conduct rigorous fundamental and quantitative analysis to identify stocks trading below intrinsic value and construct a diversified portfolio designed to generate superior long‑term returns. They continuously monitor performance and risk exposures, managing tracking error within defined parameters and allocating risk to the active positions with the highest expected contribution to alpha.

BCF support us

What Students Will Learn

  • Equity research
  • Financial modeling
  • Portfolio construction
  • Investment decision-making
  • Presentation skills
  • Collaboration with industry professionals
BCF

Performance and Stock Analysis Reports

2025 Calendar Year Performance:

Babson College Fund Portfolio: 18.41%
S&P 500 Index: 17.83%

Top 3 Contributors to Relative Performance:

  • Taiwan Semiconductor (total return: 55%; relative contribution: +184 bps)
  • Alphabet Inc. Class C (total return 65%; relative contribution +114 bps)
  • ePlus (total return 23%; relative contribution +76 bps) 

2024 Calendar Year Performance:

Babson College Fund Portfolio: 25.51%
S&P 500 Index: 25.03%

Top 3 Contributors to Relative Performance:

2023 Calendar Year Performance:

Babson College Fund Portfolio: 32.38%

S&P 500 Index: 26.29%

Top 3 Contributors to Relative Performance:

  • Tenet Healthcare (total return: 69.1%; relative contribution: +69 bps)
  • PAGS (total return: 35.2%; relative contribution: +64 bps)
  • CrowdStrike (total return: 54.5%; relative contribution: +63 bps)

2022 Calendar Year Performance:

Babson College Fund Portfolio: -23.3%

S&P 500 Index: -18.1%

Top 3 Contributors to Relative Performance:

2021 Performance:

Babson College Fund Portfolio: 27.2%

S&P 500 Index: 28.7%

Top 3 Contributors to Relative Performance:

2020 Performance:

Babson College Fund Portfolio: 28%

S&P 500 Index: 18%

Top 3 Contributors to Relative Performance:

impact report

Meet the Cohort

Babson College Fund managers are highly motivated students with a strong interest in investments and a commitment to the time and rigor the program demands. Their experience is enriched by dedicated faculty advisors and Executives in Residence—industry professionals who generously volunteer their expertise and mentorship to support students’ development as emerging investment analysts and portfolio managers.

Spring 2026

Co-Executive Portfolio Managers

Aryan Goyanka
Ian Cass 

Consumer Staples Team

Derren Chen
Olivia Bryan 

Consumer Discretionary Team

Elena Keitt
Nihaar Kulshreshtha

Financials Team

James Nguyen
Mallika Agarwal 
Christopher Drummond 

Healthcare Team

Tancrede Roy
Clara Gross 
Isabella Wellington

Energy Team

Darshan Prasad
Dylan Rosen
Carlos Ricardo Moncayo

Information Technology Team

Sachiel Varada
Zach Breitbard
Wanrong (Sloane) Zhu

Communications Services Team

Ayushman Rai 

Industrials Team

Samuel Arosti
Ananya Sharma
Kusum Sapkota 

Executives in Residence 

Our Executives in Residence are industry professionals who generously volunteer their time and expertise to enhance the student experience through mentorship and real‑world insight.

EiR head shot

Pratima Abichandani

Retired Mutual Fund Manager

EiR head shot

Aditya Agarwal ‘22

Private Equity Associate, NexPhase Capital

EiR head shot

Matthew Apkarian MBA'20, CFA

Investment Manager, Strategic Advisors, Fidelity Investments

advisory board head shot

John Bailer '92, CFA

Deputy Head of Equity Income, Portfolio Manager, Newton Investment Management Group

headshot

Lucas Brown '07, MSF '22

Entrepreneur & Investor

BCF EiR

Edward Ciancarelli '00, CFA

Principal & Senior Portfolio Manager, The Colony Group

BCF EiR

Richard Grasfeder MBA'05, CFA

Managing Director, Senior Portfolio Strategist, First Citizens Bank

headshot

Patrick Gregory, CFA

Managing Director, Stephen D. Cutler Center for Investments and Finance, Faculty Director, Babson College Fund Director, Professor

headshot

John Hickling, CFA

Retired Hedge Fund Manager

headshot

George Massey MBA’20, MSF’21

Managing Member, Ellisville Harbour Partners

headshot

Edward Perkin

Former Chief Investment Officer, Morgan Stanley

Peter Saperstone

Partner, Greycroft

advisory board head shot

James Spencer '73, CFA

Former SVP & Chief Investment Officer, Cambridge Trust Company

headshot

Holland Ward MBA'98

Retired Hedge Fund Manager

jumbotron

Apply to the Babson College Fund

To apply, students must complete the application cover page and submit all required materials outlined below. A full application packet must be received by the stated deadline, which is firm and cannot be extended.

Eligible Students

  • A minimum commitment of two semesters is required. The new managers will serve from September 2026 to May 2027.
  • MBA and MSF students must have completed FIN7503 (Equities) or plan to take it concurrently during the first semester of their BCF year.
  • Undergraduate students must have completed FIN3520 (Security Valuation).

Program Overview

Watch Faculty Director Patrick Gregory's overview of the BCF program.

Frequently Asked Questions

Review our Frequently Asked Questions for clarity on the application process, and reach out to Leslie Romiza, Cutler Center Program Manager, with any additional questions about the program or applying.

Info Session

Join us for an overview of the Babson College Fund in this one-hour session, where students will learn more about the program and application process. This session is open to all Babson undergraduate and graduate students interested in applying for the program. 

Application Process

All materials are due by MIDNIGHT on Monday, June 29. Interviews will take place the week of July 20th.

In the News

jumbortron

Support Us

Financial support of the Babson College Fund is critical and allows us to provide students with a unique opportunity to learn, build valuable skills, and lead outside of the classroom from industry professionals. 

Make a Gift Today