Hands-on Portfolio Management

The Reiman Fund class is an applied portfolio management class that teaches sector analysis, stock selection and portfolio management. Students in this class also learn to use leading industry datasets and analytical tools to identify undervalued stocks. 

Student investment recommendations are implemented in an actual stock portfolio, which is part of the University of Denver’s endowment fund. We appreciate the generous support of Scott Reiman, who is a DU alumnus, local investor and prominent philanthropist.

Read the Fall 2013 Reiman Fund Class Newsletter»

Current Strategy

The Reiman Fund invests in stocks of medium-sized companies to form a diversified portfolio that provides long-term capital appreciation. Our universe is stocks in the S&P 400 Index and we consider other stocks only on an exceptional basis. The stocks owned by the fund meet our investment criteria, which may include:

  • High earnings quality
  • Economic moat (sustainable competitive advantage)
  • Undervalued on FCF basis
  • Earnings growth opportunities that are not reflected in the current stock price
  • Out-of-favor or undiscovered companies

Frequently Asked Questions

How do I apply for the class?

Admission is by instructor only. To apply, email the following four items to Professor Chris Hughen:

  1. Résumé
  2. List of finance courses taken (including grades)
  3. Cover letter explaining your interest in the class
  4. The quarter that you want to start

This course is a two-quarter commitment. For example, you might take it in the fall and winter quarters. It is a four credit-hour class in each quarter.

Do I have do take it in consecutive quarters to satisfy the two-quarter commitment?

No, students frequently take it in the Spring quarter, do not enroll in the Summer Quarter, and take it again in the Fall quarter. However, we prefer that you do take it in consecutive quarters (for example, the Winter and Spring quarters).

Can I take it for a third quarter?

Students may apply to take it for a third quarter but this is optional.

What’s the typical profile of a student in the Reiman Fund class?

The class is targeted to our best finance students who are interested in careers in investments, equity analysis or portfolio management. However, undergraduate students in other majors are also encouraged to apply and have been valuable members of our portfolio team in past quarters. The ideal applicant will have already taken a class in investments or security analysis. If you have only taken one finance course, then you should probably wait until you have taken more finance courses before applying.

Is there a best time to apply?

We currently have 14 subscriptions to Capital IQ that our students can use to access this premiere investment resource. As we require that our students use it to analyze stocks, we limit the class to 14 students.

Many students apply to start the class in the fall quarter and it is relatively more difficult to get admitted to start in this quarter even if you have a strong application.

Fewer students apply to start the course in the summer quarter. We are more likely to admit qualified students who want to start in the summer. 

What is the investment strategy?

Current strategy for the Reiman Fund
At the beginning of each quarter, our students discuss the Fund’s investment strategy. By majority vote, they will either affirm the strategy used in the last quarter or change our approach to finding undervalued stocks.

What are the current investments and portfolio value?

Reiman Fund Portfolio 

What databases do we have access to?

Capital IQ

What is the benchmark?

Our primary objective is to beat the performance of the S&P MidCap 400 Index.
Each week we determine how well we are doing and why through portfolio attribution.

What textbooks are used in the class?

The Little Book that Builds Wealth: The Knockout Formula for Finding Great Investments
Warren Buffett, CEO of Berkshire Hathaway and an iconic investor, said “in business, I look for economic castles protected by unbreachable moats.” The Little Book that Builds Wealth discusses how to identify companies with economic moats.
Quantitative Value
This book teaches how to implement a value investing strategy and eliminate behavioral biases in investing.