Iowa State University won this year’s Krause Challenge, Kum & Go LC announced.

The challenge started in 1998 when W.A. Krause, Kum & Go founder and chairman, provided a one-time gift of $400,000 to be divided equally among Iowa State, the University of Iowa, the University of Northern Iowa and Drake University.

Each school, through a finance class or club, invests the money in the stock market and continually reinvests from year to year with the only guideline being that 10 percent of the total portfolio has to be invested in Iowa-based companies.

Iowa State had a 36.95 percent return on investment in the most recent school year and now has a portfolio valued at $200,618. Drake has the highest total of the four schools with $291,664.