HHUS Investment Group Wins the University Championship on Pinpoint

After an intensive Q4 reporting season, the winner has been crowned. We congratulate HHUS Investment Group from Umeå University on securing first place in this edition of the University Championship on Pinpoint!

The University Championship is the competition where the country's top student finance societies meet to test their skills in equity analysis. By submitting estimates for revenue and operating profit – rather than guessing share price movements – the participants' fundamental analysis skills are put to the test.

This year's league consisted of ten selected companies: an exciting mix ranging from well-established industrial giants like Munters to fast-growing cases like Nordrest and Dellia.

Results

We would also like to extend a big thank you to the other participating societies that contributed to the high level of competition: Chalmers Capital Management, Börsgruppen Asset Management (Linköping), Asset Management Group (Stockholm), and Handels Capital Management (Gothenburg). It’s fantastic to see such great engagement for equity analysis across the country’s universities!

Meet the Winners: HHUS Investment Group

The winning team consists of: Benjamin Bark, Elias Sundin, Alwin Knutsson, Liam Österlund, Alexander Hellsten, Felix Thor, Isac Eurenius, Emma Olofsson, Eric Helgotsson, Lukas Nivung Karlström, Esse Johansson, William Juntti, Emma Andström and Felicia Öster.

We asked the team from Umeå a few questions to get an insight into their recipe for success:

Tell us a bit about yourselves and what you do!

We are a student-driven investment group consisting of 14 members at Umeå University who together manage three portfolios with different purposes and risk profiles. As of 2025, the capital under management amounted to approximately SEK 1.7 million.

You manage portfolios for the student union and the HHUS association. How would you describe your basic investment philosophy and what are your goals for the management?

For the HHUS portfolio, the overall goal is to preserve capital over time and generate a stable risk-adjusted return. This means we invest in stable companies, supplemented by interest-bearing assets. The main focus is to limit the downside, which means the portfolio does not always fully participate in sharp market upturns, but over time the strategy has generated a good risk-adjusted return with the OMXS30 as a benchmark index.

The Investment Group has a more offensive focus where the goal is to create outperformance relative to the OMXSGI over time. The portfolio mainly focuses on Swedish small-cap companies with a market cap below SEK 10 billion and currently includes 12 holdings. Our work is based on a fundamental investment thesis focusing on qualitative companies where the visibility regarding future earning capacity is deemed good. The group is usually cautious with companies without profitability and so-called "hope-stocks," as the ambition is to build a portfolio based on sound fundamental analysis and concrete expectations.

In addition to these, we also manage capital for a student union in Umeå, where we apply a similar investment process adapted to the client's goals and risk level.

Can you take us through how you find a case? How do you go from finding an interesting company to building a model and setting concrete figures for your expectations?

The work takes place in several steps and in different formats. Discussions about potential investments are a continuous part of our operations, driven by a great interest among all members. Either an individual member conducts an analysis that is presented to the group, or we work in pairs on so-called pitches. In pair work, the group is divided, and each pair analyzes a company they find interesting. They then present their cases, and we vote in several rounds to identify the most attractive opportunities. Companies that do not move forward are placed on a watchlist where we continuously evaluate their risk and potential. Companies we have looked closer at for the Investment Group portfolio include NYAB, CAG Group, Coffee Stain, Paxman, and EQL Pharma, to name a few.

How often do you meet and how does a pitch work?

We usually have one scheduled meeting per week. During periods when introducing new members, there may be up to two meetings a week. When a new case is presented, it has often already been discussed informally within the group. The responsible member then prepares a presentation of about five to six slides. The presentation is followed by a collective evaluation. If we identify weaknesses, for example in the market analysis, the member is asked to supplement the documentation before a final decision is made. The discussions are often intense with many different perspectives, which we see as a strength as it contributes to more well-founded decisions.

What happens when opinions differ within the group – how do you make decisions?

When opinions differ, we first try to identify the basis of the disagreement. We see it as positive that different perspectives are highlighted because it improves the basis for decision-making. At the same time, it is important to maintain efficient decision-making. Discussions that go on for too long risk causing us to miss investment opportunities. Balancing deep analysis with decisiveness is therefore one of the biggest challenges in our management.

As winners of this year's University Championship, HHUS Investment Group will join Pinpoint for a winner's visit to Stockholm in April. During the day, the team from Umeå will visit Handelsbanken, SEB, and Lannebo – to network and get a unique insight into the professional world of asset management.

We once again congratulate HHUS Investment Group on a well-deserved victory and wish them the best of luck with their continued management!

Want to know more about HHUS Investment Group?

🔗Visit their website here