An immersive experience in financial analysis
The HOLT Challenge is designed to strengthen students’ expertise in valuation and investment analysis through a hands-on approach. Over a short and demanding timeframe, participants were introduced to the HOLT methodology and applied it to the comparative analysis of listed companies.
Working individually or in pairs, students were required to produce a short video presenting their investment case. Their work was then reviewed by finance professionals, including members of the UBS HOLT team, who provided detailed feedback.
From methodology to investment thinking
Beyond technical mastery, the challenge aimed to develop students’ ability to think like investment professionals. Participants were evaluated on several key criteria:
- presentation delivery
- structure and clarity of their pitch
- application of the HOLT methodology
- ability to connect valuation insights to real-world market dynamics
- strength and relevance of their investment recommendation
What stood out this year was the students’ ability to quickly grasp the HOLT framework and translate it into well-structured, convincing investment theses.
Recognising outstanding analyses
The quality of the submissions was particularly high, reflecting both the rigour of the exercise and the students’ engagement.
Winner
Eli Lilly vs Novo Nordisk by Maxime F. & Jean-Baptiste Espinassouze
First runner-up
Samsung vs Micron by Mathilde Limouzi & Diptakshi Sen
Second runner-ups
Costco vs Walmart by Aïssatou Touré & Ahmed Aammoune
and
MTU vs Safran by Elodie Serrano & Yannick Arouna Togola
A strong link with industry
This challenge was conducted in close collaboration with UBS, whose experts supported students throughout the process and evaluated their final work. This partnership provided valuable exposure to industry practices and expectations in equity research and corporate finance. It also builds on earlier interactions with UBS professionals during a study trip to Paris, where students were first introduced to the HOLT methodology.
Preparing for careers in finance
By combining technical learning with practical application, the HOLT Challenge reflects the MSc Banking & Finance programme’s commitment to delivering hands-on, career-focused learning experiences.
Through initiatives like this, students develop not only advanced financial skills, but also the analytical mindset and professional standards required for careers in investment, equity research and corporate finance.
