Registrations have opened for the second season of the Financial Times’ stock picking game, inviting subscribers to build virtual portfolios ahead of the competition’s October 5 start date. The game allows participants to test their investment strategies in a simulated environment, now enhanced with a wider selection of over 400 additional stocks.

The inaugural competition, which ran for nine weeks over the summer, attracted nearly 13,000 players. Swapnil Ingole, a 40-year-old Co-op store manager from Surrey, emerged as the winner, securing the £1,000 grand prize. Ingole’s strategy diverged from conventional advice offered by FT writer Bryce Elder, who recommended aggressive trading and high-volatility stocks to achieve rapid returns during the limited timeframe of the contest.

Instead, Ingole focused on fundamentally strong, low-volatility stocks characterized by high free cash flow and price-to-earnings ratios below historical averages. His portfolio included technology and software-as-a-service companies such as Adobe, Salesforce, Microsoft, Cognizant, and Accenture. Notably, his picks were positioned during a period when software stocks had declined sharply amid sector-wide challenges known informally as the “SaaSpocalypse.”

Throughout the competition, as semiconductor shares declined and software stocks rebounded, Ingole maintained a steady approach, making no portfolio changes. This disciplined strategy yielded a portfolio growth exceeding 36 percent by the contest’s conclusion on August 7, edging out opponents by a narrow margin.

Data from the first season showed that while nearly 75 percent of participants ended with gains, fewer than half (48 percent) outperformed the SPY S&P 500 exchange-traded fund, which delivered a total return of approximately 4.25 percent over the game’s duration. The median portfolio return for competitors stood at just under 4 percent.

The upcoming season plans to build on the initial success, introducing three “featured” portfolios managed by past winners, including Ingole, Peter Lamb (winner of an earlier FT stock picking contest in 2025), and Alex Khan, who won the 2024 edition. Participants will also receive a weekly newsletter, Top Trader, published each Monday by the FT Money desk. The newsletter offers market insights and evaluates notable investment decisions made by players.

The second season aims to engage an even larger audience with enhanced features and a broader stock universe, encouraging both seasoned investors and novices to test their skills in the competitive environment.