Real-world academics
The Krause Fund blends a challenging finance elective with an endowed equity portfolio. Our student analysts dive into the economy, explore industries, research companies, and build extensive valuation models using the same techniques as the professionals. This semester-length project culminates with a presentation to a team of financial professional for possible inclusion in the Krause Fund portfolio.
Fall 2025 analysts
The student analysts managing our fund are enrolled in Applied Equity Valuation, which seeks to make students experts in the valuation techniques and analytical tools used by real-world analysts. Students work in teams to evaluate companies based on industry and provide detailed investment recommendations.
Analysts employ a top-down approach to research that integrates economic, industry, and company analysis, and use valuation techniques including discounted cash flow (DCF), economic value added (EVA), relative multiple (P/E, P/B, PEG ratio), and fundamental multiple analysis. Finally, all models are sensitivity tested against critical assumptions.
At the end of the course, analysts deliver investment presentations to our Investment Advisory Committee.
Health Care (PEE & REGN) |
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Hotovec, Joe |
Pfizer Inc. (pdf) |
Energy (XOM & CCJ) |
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Costley, Connor |
Exxon Mobil Corp. (pdf) |
Financial Services (CNA & MKL) |
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Forde, Avery |
CNA Financial Corp. (pdf) |
Consumer Discretionary (CMG & TJX) |
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Goff, Emma |
Chipotle Mexican Grill Inc. (pdf) |
Real Estate (DLR) |
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Muszalski, James |
Communications (QCOM & VZ) |
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Cross, Alec |
Qualcomm Inc. (pdf) |
Consumer Staples (GIS & PG) |
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Butler, Talen |
General Mills Inc. (pdf) |
Industrials (ROK & URI) |
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Beckman, Max |
Rockwell Automation Inc. (pdf) |
Technology Alpha (AAPL & NVDA) |
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Benoit, Brady |
Apple Inc. (pdf) |
Technology Beta (CRM & NOW) |
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Arlinsky, Brendan |
Salesforce Inc. (pdf) |
Industrials & Materials (LMT & CDE) |
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Giampolo, Michael |
Lockheed Martin Corp. (pdf) |
Investment Advisory Committee
Our Investment Advisory Committee plays a key role in management of the Krause Fund. Students present their final research to the board each semester and the committee mentors our students while helping to prepare them for financial services careers.
Paige Brincks
Aligned Investors
Bryce Engelbart, CFA
AEGON Asset Management
John Heinrich, CFA
UI Center for Advancement
Tim Insko
Wealth Enhancement Group
Ryan Jordan
Principal Asset Management
Kayla Kremer, CFA
AEGON Asset Management
Mark McLaughlin, CFA
Bank of America
Jonah Parker, CFA
AEGON Asset Management
Emily Phelps, CFA
AEGON Asset Management
Aaron Schaefer
Hills Bank & Trust Co.
James F. Wessels, CPA, CFA
Financial Integrators
Catherine Zaharis, CFA
Tippie College of Business
More fund research
Spring 2025
Fall 2024
- Alphabet Inc. (pdf)
- American Express Co. (pdf)
- ASML Holding N.V. (pdf)
- Chipotle Mexican Grill Inc. (pdf)
- CNA Financial Corp. (pdf)
- Constellation Energy Corp. (pdf)
- Digital Realty Trust Inc. (pdf)
- Eli Lilly & Co. (pdf)
- Fortinet Inc. (pdf)
- General Mills Inc. (pdf)
- Johnson Controls International plc (pdf)
- Keurig Dr. Pepper Inc. (pdf)
- Lockheed Martin Corp. (pdf)
- NextEra Energy Inc. (pdf)
- Pfizer Inc. (pdf)
- Qualcomm Inc. (pdf)
- Salesforce Inc. (pdf)
- T-Mobile US Inc. (pdf)
- United Rentals Inc. (pdf)
- Wynn Resorts Limited (pdf)
- Alphabet Inc. (pdf)
- Apple Inc. (pdf)
- Chipotle Mexican Grill Inc. (pdf)
- Crown Castle International Inc. (pdf)
- DexCom Inc. (pdf)
- Digital Realty Trust Inc. (pdf)Nike Inc. (pdf)
- FedEx Corp. (pdf)
- General Mills (pdf)
- Jazz Pharmaceuticals PLC (pdf)
- NextEra Energy Inc. (pdf)
- NiSource Inc. (pdf)
- ON Semiconductor Corp. (pdf)
- Salesforce Inc. (pdf)
- T-Mobile U.S. Inc. (pdf)
- Taiwan Semiconductor Co. (pdf)
- United Rentals Inc. (pdf)
- Walmart Inc. (pdf)
Fund overview
The Krause Fund was created in 1998 when Bill Krause, founder and CEO of the Krause-Gentle Corporation, made a generous donation to the University of Iowa and other schools in the state to establish undergraduate student-managed equity funds. These schools compete in the Krause Investment Challenge, an annual contest matching the performance of each institution's portfolio during the academic year.
Our portfolio and performance
To review the year-to-date performance of our active portfolio holdings, view our Google spreadsheet. The document also contains information on our historical performance dating back to 1999.