W&L Student-Run Investment Fund Ranks Among Nation’s Largest The Williams Investment Society’s $25.5 million assets under management rank sixth nationally according to a survey conducted by the Center for Investment Research.

Huntley Hall

The Center for Investment Research has announced its 2024 ranking of the Top 25 largest student-managed investment funds in the U.S., and Washington and Lee University ranked sixth out of more than 500 funds surveyed.

The recently released ranking tracked total assets under management (AUM) for colleges and universities as of Dec. 31, 2024. W&L’s Williams Investment Society (WIS) totaled an AUM of $25,513,148, more than the student-managed funds at much larger institutions such as the University of Texas ($24.3 million), Pennsylvania State University ($18.9 million), Baylor University ($18.2 million), University of Maryland ($13 million) and Michigan State University ($6.2 million).

“This ranking is a testament to the excellence, dedication and accountability of our students,” said Aliaa Bassiouny, professor of finance and the faculty adviser to the Williams Investment Society. “WIS is entirely student-run, and they vote on the society’s holdings. They take an interdisciplinary approach, integrating technical knowledge and skills from their liberal arts education in making investment recommendations and decisions, which is reflected in their investment performance.”

The University of Dayton ($75.5 million), University of Minnesota ($53.5 million), University of Virginia ($32.5 million), Notre Dame University ($31.4 million) and University of Iowa ($26.7 million) comprised the top five in the rankings.

“It is an incredible point of pride for the Williams Investment Society to be ranked sixth in the nation, especially coming from a school with less than a quarter of the population of the next smallest school in the top 10,” said Preston Childress ’26, executive director of the WIS. “This remarkable success is a testament to the 25-plus years of enthusiasm, dedication and hard work of countless WIS members. Managing one of the largest student-managed funds in the country is a responsibility the WIS does not take lightly, but having seen many of the most intelligent, hardest-working people I’ve ever met find a home in WIS gives me absolute confidence in the society’s continued ability to grow its fund and in the execution of its mission.”

Established in 1998, the Williams Investment Society is a student organization that manages a portion of W&L’s endowment in equity securities. The fund’s purpose is to provide students with a forum to develop their interest in investments and financial analysis by allowing them to actively manage real capital. The society also seeks to broaden awareness of investments within the W&L community by sponsoring speakers and making the society’s presentations and operations open to the public.

The WIS portfolio includes investments in firms with a market capitalization of at least $500 million and a $5 minimum share price. The group does not short-sell or trade on margin and does not invest more than 5% of the total portfolio in a single stock.