The 2018 Sionna Investment Research Competition

    The Challenge:

    Select and analyze a North American company which you believe presents an attractive investment opportunity for the long term. Submit your findings in a report with a maximum of 10 pages.


    Who can participate?

    The contest is open to all undergraduate and graduate students across Canada (excluding Quebec). We welcome students from any major or specialization. We are looking for individuals who have a keen interest in business or a passion for investing.


    When does the contest begin?

    The contest is open from November 1, 2017 to February 28, 2018. A digital copy of the submission must be received on or before February 28, 2018. The winner will be contacted by May 2018.


    What kind of company can be analyzed?

    Students may select any company listed on the Toronto Stock Exchange or the New York Stock Exchange.


    What should the report look like?

    The report should not exceed 10 pages in length, single spaced. Any supporting charts must be included within the page limit. In addition to this, please include a balance sheet, income statement and cash flow statement for the company (excluded from the page limit).

    Each student may decide upon the best format to present their analysis. However, we recommend a discussion of the industry dynamics, competitive advantage, quality of management and valuation. Be sure to include your contact information, including your student ID number, in the submission.


    What is the prize?

    The winner will receive a $2,500 cash reward plus travel expenses (if applicable) to visit our office and present your findings to the Sionna investment team.


    How does a student submit their application?

    Please email one copy of your report and cover letter to:



    We thank all participants but only successful candidates will be contacted. No telephone inquiries please.
    Thank you to all participating students and happy stock picking!


    Sionna Investment Managers is a Toronto-based independent investment firm. Founded in 2002, we are long-term value-oriented investors specializing in Canadian equities.



    Sionna Investment Managers Inc.’s (“Sionna” or the “Company”) Investment Research Competition (the “Competition”) starts on November 1, 2017 and ends at 5:00 pm (EST) on February 28, 2018. Entrants must act as Research Analysts by analyzing a Toronto Stock Exchange or New York Stock Exchange listed company and preparing a written report (the “Report”) about the company which they believe to have the characteristics of a successful company, and therefore one in which investors ought to invest their money for the long term. Sionna defines "long term" as any period of time greater than three years. The Competition is open to all full-time students registered in an undergraduate or graduate program at an accredited Canadian university and who are either Canadian citizens or have obtained Canadian resident status. Entrants who have not reached the age of majority at the time of submitting their Report must also obtain a parent or legal guardian’s prior permission in writing to be submitted to Sionna together with the Report. Students enrolled in a university in Quebec and/or residents of Quebec are excluded and are not eligible to enter the Competition. Nine (9) Sionna judges will choose one (1) winning Report. The winning Report will not be chosen at random, but according to a set of criteria comprising eight (8) categories, each of which is given a score out of five (5) for a total mark out of 40. If no submission receives a mark of at least 75%, Sionna reserves the right to not select a winner. The following categories will be judged: industry dynamics, competitive landscape, company assessment, assessment of management, valuation, overall quality of the Report, originality and creativity, and format and adherence to the Competition requirements and rules. The particulars of the judging criteria can be found on Sionna’s website at the address listed below. The winner will be provided with travel and accommodation to present their Report at Sionna’s head office in Toronto (up to a maximum value of $1,000 CDN) and a cheque in the amount of $2,500 CDN upon completion of the presentation. For complete Competition rules and information, including judging criteria, entry procedures and deadlines, please click here.