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The 2nd unofficial Chess Olympiad (Summit) was held in Budapest, June 26 - July 15, 1926, during the FIDE Congress. Team tournament (six teams applied but Austria and Czechoslovakia withdrew before the start) was won by Hungary. The individual tournaments, among them a masters', an open, and a women's tournament, had also been played. Ernst Grünfeld (Austria) and Mario Monticelli (Italy) won the individual event known as 1st FIDE Masters. Ms. Edith Holloway (England) won women's tournament and Sandor Zinner (Hungary) won an open tournament.
The final results were as follows:
| # | Team | Players | Points |
|---|---|---|---|
| 1 | Hungary | Steiner E., Vajda, Sterk, Négyesy, Bakonyi, Zinner S. | 9 |
| 2 | Kingdom of Serbs, Croats and Slovenes | Kostić*, Asztalos*, Ćirić, György* | 8 |
| 3 | Romania | Balogh*, Bródy*, Tyroler*, Mendelssohn, Proca | 5 |
| 4 | Germany | Moritz, Schönmann, Machate, Rüster | 2 |
| # | Player | Points | Berger |
|---|---|---|---|
| 1 | Ernst Grünfeld (Austria) | 9½ | 68.00 |
| Mario Monticelli (Italy) | 9½ | 65.25 | |
| 3 | Hans Kmoch (Austria) | 9 | 67.00 |
| Sándor Takács (Hungary) | 9 | 63.50 | |
| Akiba Rubinstein (Poland) | 9 | 63.25 | |
| 6 | Géza Nagy (Hungary) | 8½ | |
| 7 | Richard Réti (Czechoslovakia) | 8 | 56.75 |
| 8 | Edgard Colle (Belgium) | 8 | 54.50 |
| 9 | Hermanis Matisons (Latvia) | 7½ | 59.25 |
| 10 | Savielly Tartakower (Poland) | 7½ | 56.75 |
| 11 | Árpád Vajda (Hungary) | 6½ | |
| 12 | Frederick Yates (England) | 6 | 44.00 |
| 13 | Endre Steiner (Hungary) | 6 | 42.75 |
| 14 | Kornél Havasi (Hungary) | 6 | 41.75 |
| 15 | Ladislav Prokeš (Czechoslovakia) | 5½ | |
| 16 | Eugène Znosko-Borovsky (France) | 4½ |