2010-02-09 13:15:00
A Glimpse Inside China Investment Corporation's Portfolio
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According to the New York Times (link below), China's sovereign wealth fund, China Investment Corporation, purchased more than $9 billion dollars worth of US equities last year.
Now, this is just a small drop in the bucket compared to the overall value of the sovereign wealth fund ($300 billion dollars), but it is interesting to see exactly which US equities that China thinks constitute a sound investment.
China has been actively working to diversify its $2 trillion+ plus worth of forex holdings over the past few years. The country has been moving away from investing almost exclusively in US debt offerings, choosing instead to put more and more money into alternative investments such as commodities and equities.
These were the US equities that the Chinese sovereign wealth fund owned as of December 31st, 2009:
(note: the fourth value from the left is the total value of the investment, x1000)
Abbott Labs COM 002824100 2,700 50,000 SH SOLE 50,000 0 0
Aetna Inc New COM 00817Y108 3,170 100,000 SH SOLE 100,000 0 0
American Eagle
Outfitters NE COM 02553E106 3,396 200,000 SH SOLE 200,000 0 0
American Intl Group
Inc UNIT 99/99/9999 026874115 11,330 1,000,000 SH SOLE 0 0 1,000,000
American Intl Group
Inc COM NEW 026874784 2,998 100,000 SH SOLE 100,000 0 0
AMR Corp COM 001765106 2,324 300,700 SH SOLE 300,700 0 0
Anadarko Pete Corp COM 032511107 6,242 100,000 SH SOLE 100,000 0 0
Anglogold Ashanti Ltd SPONSORED ADR 035128206 4,018 100,000 SH SOLE 100,000 0 0
Apple Inc COM 037833100 6,326 30,000 SH SOLE 30,000 0 0
Arcelormittal SA
Luxembourg NY REGISTRY SH 03938L104 9,150 200,000 SH SOLE 200,000 0 0
A123 Sys Inc COM 03739T108 3,478 155,000 SH SOLE 155,000 0 0
Bank of America
Corporation UNIT 99/99/9999 060505419 19,888 1,333,000 SH SOLE 1,333,000 0 0
Blackrock Inc COM 09247X101 713,805 3,074,094 SH SOLE 3,074,094 0 0
Burlington Northn
Santa Fe C COM 12189T104 4,931 50,000 SH SOLE 50,000 0 0
Chesapeake Energy Corp COM 165167107 5,176 200,000 SH SOLE 200,000 0 0
Citigroup Inc COM 172967101 29,790 9,000,000 SH SOLE 9,000,000 0 0
Coca Cola Co COM 191216100 9,012 158,100 SH SOLE 158,100 0 0
Comerica Inc COM 200340107 2,957 100,000 SH SOLE 100,000 0 0
CSX Corp COM 126408103 1,455 30,000 SH SOLE 30,000 0 0
Cummins Inc COM 231021106 4,586 100,000 SH SOLE 100,000 0 0
D R Horton Inc COM 23331A109 2,436 224,100 SH SOLE 224,100 0 0
Expeditors Intl Wash
Inc COM 302130109 421 12,125 SH SOLE 12,125 0 0
Fidelity National
Financial CL A 31620R105 2,692 200,000 SH SOLE 200,000 0 0
Freeport-McMoran
Copper & Go COM 35671D857 4,736 58,991 SH SOLE 58,991 0 0
Gold Fields Ltd New SPONSORED ADR 38059T106 4,589 350,000 SH SOLE 350,000 0 0
Goodyear Tire & Rubr
Co COM 382550101 1,410 100,000 SH SOLE 100,000 0 0
Hartford Finl Svcs
Group Inc COM 416515104 4,652 200,000 SH SOLE 200,000 0 0
Health Net Inc COM 42222G108 2,329 100,000 SH SOLE 100,000 0 0
Ingersoll-Rand PLC SHS G47791101 6,147 172,000 SH SOLE 172,000 0 0
iShares Inc MSCI JAPAN 464286848 58,440 6,000,000 SH SOLE 6,000,000 0 0
iShares TR Index FTSE XNHUA IDX 464287184 105,675 2,500,000 SH SOLE 2,500,000 0 0
iShares TR Index MSCI EMERG MKT 464287234 186,750 4,500,000 SH SOLE 4,500,000 0 0
iShares TR Index MSCI EAFE IDX 464287465 207,375 3,750,000 SH SOLE 3,750,000 0 0
iShares TR Index RUSSELL 2000 464287655 108,955 1,750,000 SH SOLE 1,750,000 0 0
iShares TR Index S&P GBL ENER 464287341 106,862 2,995,000 SH SOLE 2,995,000 0 0
iShares TR S&P GLB MTRLS 464288695 254,293 4,087,000 SH SOLE 4,087,000 0 0
Johnson & Johnson COM 478160104 9,339 145,000 SH SOLE 145,000 0 0
Kar Auction Svcs Inc COM 48238T109 6,640 481,500 SH SOLE 481,500 0 0
Keycorp New COM 493267108 1,110 200,000 SH SOLE 200,000 0 0
Kinross Gold Corp COM NO PAR 496902404 4,600 250,000 SH SOLE 250,000 0 0
KLA-Tencor Corp COM 482480100 2,518 69,626 SH SOLE 69,626 0 0
Lilly Eli & Co COM 532457108 3,571 100,000 SH SOLE 100,000 0 0
Lincoln Natl Corp Ind COM 534187109 5,125 206,000 SH SOLE 206,000 0 0
Market Vectors ETF TR GOLD MINER ETF 57060U100 116,357 2,518,000 SH SOLE 2,518,000 0 0
MEMC Electr Matls Inc COM 552715104 1,362 100,000 SH SOLE 100,000 0 0
Merck & Co Inc New COM 58933Y105 7,308 200,000 SH SOLE 200,000 0 0
Metlife Inc COM 59156R108 2,298 65,000 SH SOLE 65,000 0 0
Morgan Stanley COM NEW 617446448 1,772,761 59,890,576 SH SOLE 59,890,576 0 0
Motorola Inc COM 620076109 3,880 500,000 SH SOLE 500,000 0 0
Navistar Intl Corp New COM 63934E108 7,730 200,000 SH SOLE 200,000 0 0
New York Cmnty
Bancorp Inc COM 649445103 4,353 300,000 SH SOLE 300,000 0 0
Noble Corporation BAAR NAMEN- AKT H5833N103 4,070 100,000 SH SOLE 100,000 0 0
Pfizer Inc COM 717081103 2,821 155,100 SH SOLE 155,100 0 0
Potash Corp Sask Inc COM 73755L107 5,425 50,000 SH SOLE 50,000 0 0
Powershares QQQ Trust UNIT SER1 73935A104 137,760 3,000,000 SH SOLE 3,000,000 0 0
Precision Castparts
Corp COM 740189105 2,594 23,509 SH SOLE 23,509 0 0
Pulte Homes Inc COM 745867101 3,000 300,000 SH SOLE 300,000 0 0
Research in Motion Ltd COM 760975102 1,013 15,000 SH SOLE 15,000 0 0
Select Sector SPDR TR SBI CONS DISCR 81369Y407 89,310 3,000,000 SH SOLE 3,000,000 0 0
Select Sector SPDR TR SBI CONS STPLS 81369Y308 52,940 2,000,000 SH SOLE 2,000,000 0 0
Select Sector SPDR TR SBI HEALTHCARE 81369Y209 93,240 3,000,000 SH SOLE 3,000,000 0 0
Select Sector SPDR TR SBI INT-ENERGY 81369Y506 235,446 4,129,901 SH SOLE 4,129,901 0 0
Select Sector SPDR TR SBI INT- FINL 81369Y605 129,510 9,000,000 SH SOLE 9,000,000 0 0
Select Sector SPDR TR SBI INT-INDS 81369Y704 97,265 3,500,000 SH SOLE 3,500,000 0 0
Select Sector SPDR TR SBI MATERIALS 81369Y100 82,500 2,500,000 SH SOLE 2,500,000 0 0
Smith Intl Inc COM 832110100 5,434 200,000 SH SOLE 200,000 0 0
Shanda Games Ltd SP ADR REPTG A 81941U105 1,529 150,000 SH SOLE 150,000 0 0
SPDR Gold Trust GOLD SHS 78463V107 155,600 1,450,000 SH SOLE 1,450,000 0 0
SPDR Series Trust S&P OILGAS EXP 78464A730 4,121 100,000 SH SOLE 100,000 0 0
SPDR TR UNIT SER 1 78462F103 139,300 1,250,000 SH SOLE 1,250,000 0 0
Sprint Nextel Corp COM SER 1 852061100 1,468 401,100 SH SOLE 401,100 0 0
Teck Resources Ltd. CL B 878742204 3,542,617 101,304,474 SH SOLE 101,304,474 0 0
Terex Corp New COM 880779103 4,796 242,100 SH SOLE 242,100 0 0
Tesoro Corp COM 881609101 2,710 200,000 SH SOLE 200,000 0 0
Textron Inc COM 883203101 5,643 300,000 SH SOLE 300,000 0 0
UnitedHealth Group Inc COM 91324P102 3,048 100,000 SH SOLE 100,000 0 0
United States Oil
Fund LP UNITS 91232N108 78,560 2,000,000 SH SOLE 2,000,000 0 0
Valero Energy Corp New COM 91913Y100 1,675 100,000 SH SOLE 100,000 0 0
Vales S A ADR 91912E105 200,207 6,896,562 SH SOLE 6,896,562 0 0
Vales S A ADR REPSTG PFD 91912E204 297,840 12,000,000 SH SOLE 12,000,000 0 0
Visa Inc COM CL A 92826C839 353,815 4,045,455 SH SOLE 4,045,455 0 0
Weatherford
International LT REG H27013103 3,582 200,000 SH SOLE 200,000 0 0
Wells Fargo & Co New COM 949746101 31,039 1,150,000 SH SOLE 1,150,000 0 0
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This is a diverse portfolio that includes the likes of Apple, Visa and Pfizer.
The Chinese sovereign wealth fund has particularly large stakes in Teck Resources Ltd., Visa, Morgan Stanley, Citigroup and Blackrock.
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Not exactly earth-shattering stuff here, but interesting nonetheless.
Source: NY Times - China Lists $9.6 Billion in Shares of US Companies
SEC.gov - China Investment Corp Form 13F Filing
Filed under: General Market News
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