Braeburn Capital
Braeburn Capital Inc. is an asset management company based in Reno, Nevada, and a wholly owned subsidiary of Apple Inc. Its offices are located at 6900 S. McCarran Boulevard in Reno. It is one of the largest investment companies in the world.
History
Apple created the company on October 3, 2005 to better manage its assets and to avoid certain California state taxes and taxes from other U.S. states totalling millions of dollars. According to one source, in 2006 an Apple spokesperson stated that Braeburn Capital was a "regional treasury office".Described as a hedge fund, in 2012 it was stated that the company is virtually unknown within the financial sector and is tasked with investing cash generated by Apple Inc, with little known about the investment decisions they make, with the exception of larger investments. As a division of Apple Inc, Braeburn Capital does not file data with the American stock market regulator or the Investment Adviser Public Disclosure register.
The Financial Times, stated in 2013 that the way the company invests, specifically in a wide range of quality fixed-income securities, shared synergies with the type of investment strategy an insurance company would follow, aiming to ensure capital is preserved.
In news coverage about the company that was written in 2015 the companies investment activities were described as secretive. In 2018, it was reported that Braeburn Capital manages a $244 billion financial portfolio, which is 70% of Apple’s total book assets. Three years later, it was reported that Braeburn Capital invests in highly rated securities, to minimize risk.