mlsanityData to 14 Oct 2026

AlphaAgents: Large Language Model based Multi-Agents for Equity Portfolio Constructions

arXiv 2508.11152 ↗First posted 15 Aug 2025q-fin.ST cs.AIcited by 16

On the map: LLM agents and tool use → Financial trading and forecasting agents

Abstract (arXiv)

The field of artificial intelligence (AI) agents is evolving rapidly, driven by the capabilities of Large Language Models (LLMs) to autonomously perform and refine tasks with human-like efficiency and adaptability. In this context, multi-agent collaboration has emerged as a promising approach, enabling multiple AI agents to work together to solve complex challenges. This study investigates the application of role-based multi-agent systems to support stock selection in equity research and portfolio management. We present a comprehensive analysis performed by a team of specialized agents and evaluate their stock-picking performance against established benchmarks under varying levels of risk tolerance. Furthermore, we examine the advantages and limitations of employing multi-agent frameworks in equity analysis, offering critical insights into their practical efficacy and implementation challenges.

Key facts. Cited by 16 papers in the map (data through 14 Oct 2026). Placed in Financial trading and forecasting agents, one of 16 directions in LLM agents and tool use. Builds on 9 of its 34 references that are in the map. First posted on arXiv 15 Aug 2025.

Builds on

9 of 34 references.

Closest ancestors · 1

Same direction, newest first

  1. 2025MarketSenseAI 2.0: Enhancing Stock Analysis through LLM Agents1 Feb

Other references · 8

  1. 2023A Survey on Large Language Model based Autonomous Agentscited by 2,242
  2. 2023Retrieval-Augmented Generation for Large Language Models: A Surveycited by 2,212
  3. 2022A Survey on In-context Learningcited by 721
  4. 2023API-Bank: A Comprehensive Benchmark for Tool-Augmented LLMscited by 591
  5. 2024A Systematic Survey of Prompt Engineering in Large Language Models: Techniques and Applicationscited by 431
  6. 2023Multi-Agent Collaboration: Harnessing the Power of Intelligent LLM Agentscited by 333
  7. 2024A Multimodal Foundation Agent for Financial Trading: Tool-Augmented, Diversified, and Generalistcited by 137
  8. 2024FinVerse: An Autonomous Agent System for Versatile Financial Analysiscited by 5

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Cited by year (2026 to 14 Oct)

Citing papers per year: 2025: 3; 2026: 13.

16 papers.

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  1. 2026Evaluating LLMs in Finance Requires Explicit Bias Considerationcited by 11
  2. 2025Alpha-R1: Alpha Screening with LLM Reasoning via Reinforcement Learningcited by 7
  3. 2026Toward Expert Investment Teams:A Multi-Agent LLM System with Fine-Grained Trading Taskscited by 7
  4. 2025QuantEvolve: Automating Quantitative Strategy Discovery through Multi-Agent Evolutionary Frameworkcited by 6
  5. 2026Self-Improvement of Large Language Models: A Technical Overview and Future Outlookcited by 5
  6. 2026A Review of Large Language Models for Stock Price Forecasting from a Hedge-Fund Perspectivecited by 2
  7. 2026Signal or Noise in Multi-Agent LLM-based Stock Recommendations?cited by 1
  8. 2026AgentSteerTTS: A Multi-Agent Closed-Loop Framework for Composite-Instruction Text-to-Speechcited by 1
  9. 2026DSA: Evidence-Aware LLM-Agent Orchestration for Multi-Market Stock Researchcited by 1
  10. 2025Identifying Financial Risk Information Using RAG with a Contrastive Insightcited by 0
  11. 2026Beyond Agent Architecture: Execution Assumptions and Reproducibility in LLM-Based Trading Systemscited by 0
  12. 2026Can Agentic Trading Systems Pay for Their Own Intelligence?cited by 0
4 more
  1. 2026OpenPM: Auditable Point-in-Time Evaluation for LLM Portfolio-Management Agentscited by 0
  2. 2026From Numbers to Judgment: Specialist LLM Agents and Reinforcement Learning for European Listed Real Estatecited by 0
  3. 2026Poisoning Agentic Alpha: Adversarial Vulnerabilities Across Roles and Architectures in Multi-Agent Trading Systemscited by 0
  4. 2026Multi-Agent Debate for Explainable Trading: Reasoning, Consensus, and Performance in Simulated Marketscited by 0

Similar, not cited

Close in wording, no citation either way

  1. 2025HedgeAgents: A Balanced-aware Multi-agent Financial Trading System
  2. 2024When AI Meets Finance (StockAgent): Large Language Model-based Stock Trading in Simulated Real-world Environments
  3. 2025The Evolution of Alpha in Finance Harnessing Human Insight and LLM Agents
  4. 2025When Agents Trade: Live Multi-Market Trading Benchmark for LLM Agents
  5. 2026AlphaCrafter: Harnessing Multi-Agent Workflows for Cross-Sectional Quantitative Trading
  6. 2025ContestTrade: A Multi-Agent Trading System Based on Internal Contest Mechanism
  7. 2024TradingAgents: Multi-Agents LLM Financial Trading Framework
  8. 2025AlphaAgent: LLM-Driven Alpha Mining with Regularized Exploration to Counteract Alpha Decay