Presenting the world’s biggest hedge fund you’ve probably never heard of

“The world’s largest hedge fund is not located in the top floor of some shiny, floor-to-ceiling glass clad skyscraper in New York, London, Hong Kong or Shanghai,” Tyler Durden reports for ZeroHedge. “It isn’t in some sprawling mansion in Greenwich or Stamford which houses a state of the art trading desk behind a crocodile-filled moat. Instead it can be found in tiny, nondescript office in Suite 225 located on 730 Sandhill Road in Reno, Nevada.”

“‘That’s not possible’ one may say – the world’s largest hedge fund is Ray Dalio’s Bridgewater, which at last check had about $100 billion in AUM (and which has so far had a less than stellar performance in 2012, underperforming the S&P by a substantial margin),” Durden reports. “Turns out it is: the fund which was at $117.2 billion as of June 30, and which has lately been growing at a pace of about $15 billion per quarter (which would put it at about $130 billion currently), is none other than Braeburn Capital, a Nevada-based asset management corporation.”

Durden reports, “At Braeburn’s inception, the cash pile was modest, yet absolutely massive in unlevered terms, at just over $10 billion. Fast forward 6 years, and the massive cash pile has now grown to be epically gargantuan. Of course, the parent company in question is none other than Apple, whose publicly reported cash horde at June 30, 2012 was a whopping $117,221,000,000. This is the AUM of Braeburn.”

Read more in the full article here.

[Thanks to MacDailyNews Reader “Dave B.” for the heads up.]

Related articles:
Apple creates Braeburn Capital Nevada asset-management firm – April 6, 2006

10 Comments

    1. According to the linked article, it’s an apple variety.

      “Braeburn — named for a variety of apple that’s uniquely sweet and tart — will be a vehicle for managing Apple’s investment portfolio.”.

    1. Technically speaking, according to the article, Braeburn really isn’t a hedge fund.

      FWIW, the concluding tone of the article makes it clear the author is not sympathetic towards Apple’s huge accumulation of cash. The word “unfair” was used several times in the final paragraphs. “Unfair” is a trigger word used to elicit an emotional response and has little objective meaning.

  1. If Braeburn is managing Apple’s US cash, then the amount is only about 1/3rd of Apple’s total cash, as 2/3rds is located overseas. I always assumed that Apple’s Irish affiliate managed its foreign cash assets.

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