# AlphaMemo: Structured Search-Process Memory for Self-Evolving Alpha Mining Agents

arXiv: https://arxiv.org/abs/2606.20625 · HTML: https://mlsanity.com/paper/2606.20625/

## Key facts

- Cited by 3 papers in the map (data through 14 Oct 2026).
- Placed in Reasoning for agents, planning and code, one of 17 directions in LLM reasoning.
- Builds on 22 of its 45 references that are in the map.
- First posted on arXiv 26 May 2026.

## Placed in

- LLM reasoning / [Reasoning for agents, planning and code](https://mlsanity.com/lr/reasoning-for-agents-planning-and-code/)
- LLM agents and tool use / [Agent memory systems](https://mlsanity.com/agents/agent-memory-systems/)
- Synthetic data and self-improvement for LLMs / [Self-evolving LLM agents](https://mlsanity.com/synth/self-evolving-llm-agents/)

## Builds on (most cited first, 22 of 22)

- [ReAct: Synergizing Reasoning and Acting in Language Models](https://mlsanity.com/paper/2210.03629/) (2022)
- [Generative Agents: Interactive Simulacra of Human Behavior](https://mlsanity.com/paper/2304.03442/) (2023)
- [MemGPT: Towards LLMs as Operating Systems](https://mlsanity.com/paper/2310.08560/) (2023)
- [Language Agent Tree Search Unifies Reasoning Acting and Planning in Language Models](https://mlsanity.com/paper/2310.04406/) (2023)
- [A Comprehensive Survey of Self-Evolving AI Agents: A New Paradigm Bridging Foundation Models and Lifelong Agentic Systems](https://mlsanity.com/paper/2508.07407/) (2025)
- [A Survey of Self-Evolving Agents: What, When, How, and Where to Evolve on the Path to Artificial Super Intelligence](https://mlsanity.com/paper/2507.21046/) (2025)
- [Evo-Memory: Benchmarking LLM Agent Test-time Learning with Self-Evolving Memory](https://mlsanity.com/paper/2511.20857/) (2025)
- [SWE-Search: Enhancing Software Agents with Monte Carlo Tree Search and Iterative Refinement](https://mlsanity.com/paper/2410.20285/) (2024)
- [Monte Carlo Tree Search for Comprehensive Exploration in LLM-Based Automatic Heuristic Design](https://mlsanity.com/paper/2501.08603/) (2025)
- [Qlib: An AI-oriented Quantitative Investment Platform](https://mlsanity.com/paper/2009.11189/) (2020)
- [Alpha-GPT: Human-AI Interactive Alpha Mining for Quantitative Investment](https://mlsanity.com/paper/2308.00016/) (2023)
- [Contextual Experience Replay for Self-Improvement of Language Agents](https://mlsanity.com/paper/2506.06698/) (2025)
- [R&D-Agent-Quant: A Multi-Agent Framework for Data-Centric Factors and Model Joint Optimization](https://mlsanity.com/paper/2505.15155/) (2025)
- [AlphaAgent: LLM-Driven Alpha Mining with Regularized Exploration to Counteract Alpha Decay](https://mlsanity.com/paper/2502.16789/) (2025)
- [AlphaForge: A Framework to Mine and Dynamically Combine Formulaic Alpha Factors](https://mlsanity.com/paper/2406.18394/) (2024)
- [Automate Strategy Finding with LLM in Quant Investment](https://mlsanity.com/paper/2409.06289/) (2024)
- [FactorMiner: A Self-Evolving Agent with Skills and Experience Memory for Financial Alpha Discovery](https://mlsanity.com/paper/2602.14670/) (2026)
- [Navigating the Alpha Jungle: An LLM-Powered MCTS Framework for Formulaic Factor Mining](https://mlsanity.com/paper/2505.11122/) (2025)
- [QuantaAlpha: An Evolutionary Framework for LLM-Driven Alpha Mining](https://mlsanity.com/paper/2602.07085/) (2026)
- [QuantFactor REINFORCE: Mining Steady Formulaic Alpha Factors with Variance-bounded REINFORCE](https://mlsanity.com/paper/2409.05144/) (2024)
- [AlphaEval: A Comprehensive and Efficient Evaluation Framework for Formula Alpha Mining](https://mlsanity.com/paper/2508.13174/) (2025)
- [Alpha-R1: Alpha Screening with LLM Reasoning via Reinforcement Learning](https://mlsanity.com/paper/2512.23515/) (2025)

## Built on by (most cited first, 3 of 3)

- [AQuA: Recursively Self-Improving Quantitative Trading Research Agents](https://mlsanity.com/paper/2608.12841/) (2026)
- [AlphaDiverse: Post-Training Local Quantitative Research Agents for Diverse Exploration in Alpha Factor Mining](https://mlsanity.com/paper/2609.29014/) (2026)
- [EverMine: Dissecting the Self-Evolution of Research Capabilities in Long-Horizon Alpha Research](https://mlsanity.com/paper/2609.33524/) (2026)

## Abstract (arXiv)

LLM agents are promising for alpha mining via combining financial priors, symbolic reasoning, executable factor generation, and feedback-driven refinement. Yet, they face a combinatorial search space, noisy non-stationary feedback, redundant discoveries, and overfitting risks from naively reusing past successes. To address these challenges, we propose AlphaMemo, a self-evolving alpha mining agent with Structured Search-Process Memory. Rather than memorizing only final factors or full trajectories, AlphaMemo records reusable evidence about which edit motifs work or fail under specific parent-factor contexts. It extracts motifs from Abstract Syntax Tree (AST) differences, applies confidence-gated residual memory on top of a search-ledger prior, and uses asymmetric veto control to suppress high-confidence failure patterns. Experiments on CSI 500 and S&P 500 show improved out-of-sample performance and fixed-budget discovery efficiency, with ablations validating the roles of residual learning, confidence gating, AST-diff motifs, and veto memory. Code is at https://github.com/jarrettyu/AlphaMemo.