Student Managed Investment Fund (SMIF)

The Student Managed Investment Fund (SMIF) provides valuable, real-time experiential learning in securities analysis and portfolio management. Managers gain real-world experience in topics and theories that are discussed in the classroom. SMIF is the capstone to investment studies in a sequence of courses developed by the finance department.

Portfolio

Current Growth Portfolio Holdings

Current Value Portfolio Holdings

Current Managers

Penelope Herman

Penelope Herman, General Manager
Penelope is from Greenwich, Conn., and is pursuing a degree in Business Administration with a double concentration in Finance and Business Analytics. This past summer, Penelope worked at Barclays as an Investment Banking Summer Analyst in their Global Industrials group. Previously, she interned at Nasdaq as an analyst on the Index Research team. Outside of SMIF, Penelope is the Academic Development Director for her sorority, Kappa Alpha Theta, and is a member of the club lacrosse team. 

Andrew Park

Andrew Park, Head of Growth Fund
Andrew is from Annandale, Va., and is pursuing a degree in Business Administration with a concentration in Finance. This past summer, Andrew attended Harris Williams’ 2025 Boot Camp prior to returning to Dominion Energy working within their CFO group. He has prior experience in corporate development and energy finance. Outside of SMIF, Andrew enjoys cooking, photography, and hiking.

Tommy Kenny

Tommy Kenny, Head of Value Fund
Tommy is from Long Island, N.Y., and is pursuing a degree in Business Administration with a concentration in Finance. This past summer, Tommy worked at Guggenheim Securities in New York as an Investment Banking Summer Analyst in the Private Equity Advisory Group. Previously, he interned at Barington Capital Group, a fundamental value-oriented activist investment firm. Outside of SMIF, Tommy is the VP of Finance for his fraternity Sigma Phi Epsilon, and is a member of the Richmond Club Ice Hockey team. 

Augie Buerger

Augie Buerger, Vice President of Recruitment
Augie is from Long Island, N.Y., and is pursuing a degree in Business Administration with a concentration in Finance. This past summer, he interned at Citi in New York City as an Investment Banking Analyst in the Global Healthcare Group. Outside of SMIF, he serves as President of the Spider Private Markets Group, a student organization that enhances understanding of M&A, private capital solutions, and private market trends through case studies, guest speakers, and live deal work to prepare students for internships in the financial services industry. He previously served as Chancellor of Delta Sigma Pi, the university’s business fraternity, and is also a member of the UR Student Conduct Council, Sigma Phi Epsilon, and Club Golf. In his free time, he enjoys playing golf and spending time with friends.

Trevor Cohn

Trevor Cohn, ESG Manager, Growth Fund
Trevor is from Westchester, N.Y., and is pursuing a degree in Business Administration with concentrations in Finance and Business Analytics. This past summer, he interned at Spider Management in Richmond as an Investment Analyst. Outside of SMIF, he serves as the Chief Financial Officer of Alpha Kappa Psi, a dedicated professional co-ed business fraternity. He previously served as the Vice President of Alumni Relations for Alpha Kappa Psi. He is also the Safety Officer of Men’s Club Soccer at Richmond and is the Secretary of the UR’s Sports Analytics Club.

Hannah Growney

Hannah Growney, ESG Manager, Value Fund
Hannah is from San Antonio, Texas, and is pursuing a degree in Business Administration with dual concentrations in Finance and International Business. For the past two summers, Hannah worked at Dominion Energy in their Asset Management Group, where she gained experience in managing institutional capital across a range of asset classes. Outside of SMIF, Hannah works as a public speaking consultant at the university’s Speech Center and is a member of the Delta Sigma Pi business fraternity.

Shep Seba

Shep Seba, Growth Fund
Shep is from Baltimore Md., and is pursuing a double major in Business Administration with a concentration in Finance and French Language. This past summer, he interned with StepStone Group’s Venture Capital team, where he supported secondary, direct, and fund-of-funds investments. Previously, he was a Summer Analyst at Evergreen Advisors, a middle-market investment bank specializing in sell-side advisory for Department of Defense subcontractors. Outside of SMIF, Shep works as a teaching assistant in the French Department and enjoys writing and performing music on the piano.

Cate Spitz

Cate Spitz, Growth Fund
Cate is from Westchester, N.Y., and is pursuing a major in Finance and minor in Art History. This past summer, Cate interned at KeyBank under Market and Treasury Risk Management, within the liquidity and interest rate risk division. Cate also interned at Morgan Stanley within Wealth Management looking specifically at assisting ultra-high wealth individuals and smaller institutions. Previously, Cate worked within Venture Capital at Hewlett Packard assessing Generative AI startups. Outside of SMIF, Cate is a member of Alpha Kappa Psi Business Fraternity and is a member of Tri Delta sorority where she engages in philanthropy for St. Jude. Cate has a strong interest in fashion and has put together financial models for retail companies such as Ralph Lauren. 

Owen Sheehan

Owen Sheehan, Growth Fund
Owen is from St. Louis, Mo., and is pursuing a degree in Business Administration with a concentration in Finance and Accounting. This past summer, Owen worked at Apogem Capital in Richmond as a Private Equity analyst in the Primaries group. Previously, he interned at Conway Investment Solutions, an investment research and solutions provider across all asset classes. Outside of SMIF, Owen is the President and Captain of the Richmond Club Soccer Team.

Noah Frass

Noah Fraas, Growth Fund
Noah is from Westport, Conn., and is pursuing a degree in Business Administration with a concentration in Finance and a minor in History. This past summer Noah worked as an Equity Research Associate at KBW, a financials focused firm, within the Capital Markets Group. Previously he worked at Gemspring Capital, a middle market private equity firm, as a summer investments analyst servicing their buyout fund. Noah is also a member of Gateway Capital Management and is an active participant in intramural sports at UR. 

Will Kershner

Will Kershner, Growth Fund
Will is from Katonah, N.Y., and is pursuing a degree in Business Administration with a concentration in Finance and a minor in computer science. This past summer, Will interned at Oppenheimer & Co. on the Equities Sales and Trading team. Previously, he interned at Horizon Kinetics, an asset management firm, in the investor relations department. Outside of SMIF, Will is an active member of Gateway Capital Management and enjoys running as well as spending time outdoors fishing.

Nick Dean

Nick Dean, Growth Fund
Nick is from San Francisco, Calif., and is pursuing a degree in Business Administration with a concentration in Finance, with a minor in Art History. This past summer, Nick interned at Cisco Systems as a Project Specialist Intern on the Recurring Revenue Acceleration team. Previously, he interned at Ligo Partners LLC, a tech focused venture capital family office, as an Investment Analyst, and Cannell Capital LLC, a hedge fund, as a Research and Operations Intern. Outside of SMIF, Nick is the Secretary of the Student Conduct Council (URSCC), and enjoys surfing, kiteboarding, and skiing.

Ryan Cucinella

Ryan Cucinella, Growth Fund
Ryan is from Larchmont, N.Y., and is pursuing a degree in Business Administration with concentrations in Finance and Business Analytics. This past summer, Ryan interned at Ascot Group, a global specialty insurance and reinsurance firm, as a Strategy and Corporate Development Intern. Outside of SMIF, Ryan works as a Financial Data Assistant in the Lesser Trading Floor and is a member of Pi Kappa Alpha, where he currently serves as Athletics Chair and previously held the position of Health and Safety Officer.

Tom Ern

Tom Ern, Value Fund
Tom is from Middletown, N.J., and is pursuing a degree in Business Administration with concentrations in Finance and Economics. This past summer, Tom interned in the Finance Department at Sumitomo Mitsui Banking Corporation in the New York City office. Tom previously interned at the Federal Reserve Bank of New York in Operations as well. Outside of SMIF, Tom has held positions in both his business and social fraternities and is involved in intramural sports.

Will Sauers

Will Sauers, Value Fund
Will is from Washington, D.C., and is pursuing a degree in Business Administration with concentrations in Finance and Accounting, along with a minor in mathematics. This past summer he worked at 1607 Capital Partners, an alternative asset manager focused on Closed-End Fund securities. Previously, he was a summer analyst at G Squared Capital Partners, an investment bank specializing in Aerospace, Defense, and Government M&A advisory. Outside of SMIF, Will is the President of his fraternity Lambda Chi Alpha, and is a member of the business fraternity Delta Sigma Pi.

Becca Nelson

Becca Nelson, Value Fund
Becca Nelson is from Columbia, S.C., and is a Business Administration major, concentrating in Finance with a minor in Data Science. This past summer; Becca interned at Berkeley Research Group, in the corporate finance turnaround and restructuring practice. Becca is the founder and president of the Planet Water Club, which raises funds to build water filters in developing countries. Outside of SMIF, Becca is a member of Kappa Alpha Theta and enjoys running. 

Newt Cutler, Value Fund
Newt is from Darien, Conn., and is pursuing a degree in Business Administration with a concentration in Finance. This past summer, Newt worked at Litchfield Underwriters as a summer analyst. Previously, Newt worked at Krane Shares, an asset-manager focused on Chinese equities. Outside of the classroom, Newt likes to golf, travel, and spend time with friends and family.

 

Colin Krause

Colin Krause, Value Fund
Colin is from Malvern, Pa., and is pursuing a degree in Business Administration with a concentration in finance. This past summer, Colin worked at Argosy Private Equity as a summer analyst. Previously, Colin worked at CMG wealth, a family office investing in both public and private markets. Outside of the classroom, Colin likes to ski, golf, cook, and hang out with friends and family. 

Ben Greenberg

Ben Greenberg, Value Fund
Ben is from Wilmington, Del., and is pursuing a degree in Business Administration with a concentration in Finance. This past summer, Ben worked at Delancey Street Partners, as an Investment Banking Summer Analyst. Ben previously worked at Great Barn Ventures, a family-office fund looking to invest in a variety of sectors in both the public and private markets. Outside of SMIF, Ben is the VP of Fundraising for Planet Water and a member of the Club Ice Hockey team. 

Nicholls

Connor Nicholls, Value Fund
Connor is from Cohasset, Mass., and is pursuing a degree in Business Administration with a concentration in Finance. For the past two summers, Connor worked at Pallas Capital Advisors in the Greater Boston Area, a Registered Investment Advisor dedicated to providing personalized investment advice and financial planning services to ultra-high-net-worth clients This past summer, he worked specifically with the investment team. Outside of SMIF, Connor is the Treasurer for the Relay for Life Organization and is an active member on the club basketball team.