Braeburn Capital
Asset management company owned by Apple
title: "Braeburn Capital" type: doc version: 1 created: 2026-02-28 author: "Wikipedia contributors" status: active scope: public tags: ["american-companies-established-in-2005", "financial-services-companies-established-in-2005", "2005-establishments-in-nevada", "investment-management-companies-of-the-united-states", "apple-inc.-subsidiaries", "companies-based-in-reno,-nevada", "asset-management-companies"] description: "Asset management company owned by Apple" topic_path: "economics" source: "https://en.wikipedia.org/wiki/Braeburn_Capital" license: "CC BY-SA 4.0" wikipedia_page_id: 0 wikipedia_revision_id: 0
::summary Asset management company owned by Apple ::
::data[format=table title="Infobox company"]
| Field | Value |
|---|---|
| name | Braeburn Capital Inc. |
| logo | Braeburn Capital Logo.svg |
| type | Subsidiary |
| industry | Asset management |
| Investment management | |
| founded | in Reno, Nevada, U.S. |
| location_city | Reno, Nevada |
| location_country | U.S. |
| aum | US$268.9 billion (2017) |
| parent | Apple Inc. |
| website | (Redirects to Apple) |
| :: |
| name = Braeburn Capital Inc. | logo = Braeburn Capital Logo.svg | type = Subsidiary | industry = Asset management Investment management | founded = in Reno, Nevada, U.S. | founder = | location = | location_city = Reno, Nevada | location_country = U.S. | area_served = | key_people = | products = | aum = US$268.9 billion (2017) | owner = | num_employees = | parent = Apple Inc. | website = (Redirects to Apple)
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 (later updated in 2022) 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.
Capital
::data[format=table title="{{nowrap|Apple's [[cash]], and short-term and long-term [[investment]]s}}"]
| Year | Value (billion USD) |
|---|---|
| 2005 | 8.3 |
| 2006 | 10.1 |
| 2007 | 18.45 |
| 2008 | 24.49 |
| 2009 | 33.99 |
| 2010 | 51.01 |
| 2011 | 81.57 |
| 2012 | 121.25 |
| 2013 | 146.76 |
| 2014 | 155.24 |
| 2015 | 205.67 |
| 2016 | 237.59 |
| 2017 | 268.90 |
| 2018 | 237.10 |
| 2019 | 205.9 |
| 2020 | 191.8 |
| 2021 | 190.5 |
| 2022 | 48.3 |
| 2023 | 166.5 |
| 2024 | 162.5 |
| 2025 | |
| :: |
In 2012, Wall Street analysts calculated that Apple could earn up to $45.6 billion in fiscal year 2012, a record for any American business. By national and international diversions of revenues and many other legal methods, Apple stood to save billions of dollars in taxes.
Name
The name Braeburn refers to a particular cultivar of apple. This is a play on the name of the parent company Apple Inc.
Personnel
Mick Mulvaney's brother Theodore "Ted" Mulvaney is portfolio manager for Braeburn Capital. Other officers of the company, listed in the Nevada Annual Report include Apple attorney Gene Levoff, Michael Shapiro and Gary Wipfler, Apple's treasurer.
References
References
- (8 March 2013). "Relax: Apple's Reno asset-management office is still here". Reno Rebirth.
- Hrdlicka, Christopher. (2018-08-23). "Opinion {{!}} Apple Is a Hedge Fund That Makes Phones". Wall Street Journal.
- (5 April 2006). "Apple Takes Its Bankroll to Reno". [[Bloomberg L.P..
- Duhigg, Charles. (April 28, 2012). "How Apple Sidesteps Billions in Global Taxes". The New York Times.
- Cook, Brad. (2006-04-05). "Apple Creates Braeburn Capital to Manage $8.7 Billion Stash".
- Garside, Juliette. (2012-10-26). "Apple's investment manager wrestles with $120bn problem". The Guardian.
- Bradshaw, Tim. (1 March 2013). "Apple: The $137bn conundrum".
- (2015-04-28). "The mysterious fund in the desert that manages Apple’s cash".
- "Apple Cash Management {{!}} Blog - Treasure".
- [http://www.coldspringorchard.com/page2.htm University of Massachusetts Cold Spring Orchard page] {{webarchive. link. (January 12, 2012)
::callout[type=info title="Wikipedia Source"] This article was imported from Wikipedia and is available under the Creative Commons Attribution-ShareAlike 4.0 License. Content has been adapted to SurfDoc format. Original contributors can be found on the article history page. ::