CNET: Apple has a thing for being the biggest in the world. First, it was the biggest company, in terms of market capitalization. Now it’s also a hedge fund.
Zero Hedge yesterday reported that little-heralded Apple subsidiary Braeburn Capital has become “the world’s largest hedge fund.” The company had $117.2 billion in assets under management at the end of June, easily besting Bridgewater — generally recognized as the top hedge in the world with approximately $100 billion in assets under management.
According to Zero Hedge, Braeburn is adding $15 billion in funds each quarter, and is headquartered in Reno, Nev. The company was founded in 2006.
Braeburn has a simple charge, which is to manage Apple’s enormous cash hoard. The company reportedly parks its funds in a host of investment vehicles, including stocks and bonds.