SEC Filing Analysis: M. Kraus & Co. (Form 13F-HR)

Executive Summary

• Trading Significance: Low
• Key Takeaway: M. Kraus & Co. has filed its quarterly Form 13F-HR, disclosing $358.13 million in assets under management across 84 holdings as of September 30, 2025. The portfolio shows a concentration in large-cap U.S. equities.
• Market Impact: Negligible. This is a standard, backward-looking disclosure and is unlikely to cause significant market movement in the underlying securities.

Filer Information

Field	Value
Filer Name	M. Kraus & Co
CIK	0001593688
Ticker Symbol	Not Applicable (Private Firm)
Total Portfolio Value	$358,129,688
Number of Holdings	84

Filing Details

Field	Value
Form Type	13F-HR (Holdings Report)
Filing Date	2025-10-14
Period of Report	2025-09-30
Accession Number	0001593688-25-000006

Note: A Form 13F-HR is a holdings report filed by institutional investment managers and does not represent individual insider transactions. Therefore, fields related to insider trades (transaction type, price, etc.) are not applicable.

Portfolio Analysis

The filing details the firm's long positions as of the end of the third quarter of 2025.

Top 10 Holdings by Value

1. Microsoft Corp. ($MSFT): $38,984,318
2. Alphabet Inc. Class C ($GOOG): $24,898,847
3. Berkshire Hathaway - B ($BRK.B): $22,374,946
4. L3 Harris Technologies ($LHX): $14,663,701
5. Thermo Fisher Scientific ($TMO): $14,493,865
6. RTX Corporation ($RTX): $13,214,162
7. Norfolk Southern ($NSC): $12,826,054
8. Rockwell Automation ($ROK): $11,301,755
9. Illinois Tool Works ($ITW): $10,096,627
10. Cisco Systems Inc. ($CSCO): $10,547,836

Sector Concentration

• The portfolio is heavily weighted towards Information Technology (Microsoft, Alphabet, Broadcom, Cisco), Industrials (L3 Harris, RTX, Rockwell), and Financials (Berkshire Hathaway).
• It also includes significant positions in Health Care (Thermo Fisher, Johnson & Johnson) and Consumer Staples (Procter & Gamble, PepsiCo).

Investment Insights

Key Takeaways

1. Large-Cap Focus: The firm maintains a conservative strategy, with its largest positions concentrated in well-established, large-capitalization companies.
2. Diversification: With 84 holdings, the portfolio is well-diversified across various sectors, although with a clear preference for technology and industrials.
3. Informational Value: This filing provides a snapshot of the firm's institutional strategy and sentiment as of Q3 2025. It is a useful data point for observing how a mid-sized asset manager is positioned but is not indicative of future trades.

Contextual Analysis

Filing Purpose

Form 13F is a mandatory quarterly report required by the SEC for all institutional investment managers with at least $100 million in assets under management. It discloses their U.S. equity holdings to the public.

Timing Significance

The data is as of September 30, 2025, making it over a month old at the time of filing. It reflects a past position and does not account for any trading activity that may have occurred since the end of the quarter.

Risk Assessment

Risk Level: Low

Analysis

• This filing itself carries no direct investment risk. It is a historical statement of assets.
• The value of this report is for tracking institutional trends and understanding the composition of a specific manager's portfolio over time.
• Investors should not use 13F filings as a primary basis for investment decisions, as the information is dated and does not include short positions, cash holdings, or non-U.S. securities.

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IMPORTANT DISCLAIMER: This analysis is for informational purposes only and is not intended as investment advice. The information presented is based on publicly available SEC filings and should not be construed as a recommendation to buy, sell, or hold any securities. Past performance does not guarantee future results. All investments carry risk, including the potential loss of principal. Please consult with a qualified financial advisor before making any investment decisions.

Analysis generated on 2025-10-14 | Data source: SEC EDGAR