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Apple Subsidiary Braeburn is 'World's Largest Hedge Fund'

Not content with being the world's most valuable company, Apple subsidiary Braeburn Capital has become "the world's largest hedge fund."

At the end of June, Braeburn, headquartered in Reno, Nevada had $117.2 billion in assets. Bridgewater, which is widely recognized as the top hedge in the world, had around $100 billion in assets.

Braeburn's existence is simple: to manage Apple's massive and continuously growing cash pile. The firm reportedly keeps its enormous amount of funds in a series of investment vehicles, which includes the likes of stocks and bonds.

Apple's Braeburn division will be shrouded in mystery for the foreseeable future, though, as is the case with hedge funds, they don't have have to divulge information pertaining to its holdings.

With the amount of revenue Apple generates, you wouldn't be wrong in believing that the firm's tax bill ranges in the multi-billions. It's quite the contrary, however. Along with several other large companies (with the majority being technology-based firms), Apple sends its U.S. earnings into its Ireland subsidiary and performs what's known as the "Double Irish With a Dutch Sandwich" to heavily decrease its tax bill.

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