There is a huge money market fund that is traded on NASDAQ, with $23.155 billion in cash, cash equivalents, and short term securities. The company's investments include U.S. Treasury securities (bills and notes), U.S. agency securities, money market funds, non-U.S. government securities, certificates of deposit and time deposits, commercial paper, corporate notes, and municipal notes. In addition, the fund owns about $18.5 billion of long term securities. Of course, being a money market fund, it is debt free and doesn't use leverage.
Unfortunately, the company doesn't pay out any of its interest in the form of dividends, it just reinvests. However, it does have a little business on the side; they make some kind of electronic equipment. I think maybe computers and those cellular phones that can connect to the Internet. I heard that they just came out with another new gadget, some sort of computer that looks like it's been squashed in a grape press. What is most unusual about this money market fund is its name, Apple Inc. (AAPL). Where they came up with that name, I'll never know.
Next time I'll tell you about another huge money market fund that trades on NASDAQ, that has an Internet business on the side, and has an even stranger name.
Author owns AAPL.