AsThe New York Times’s DealBooknotes today, China Investment Corp., China’s sovereign wealth fund, gave us a snapshot late Friday in an SEC filing of its thinking on equities, reporting stakes taken as of Dec. 31.
The fund’s top ten features a copper miner in the top spot, and here’s the full top ten list, by size of position:
Teck Resources (TCK) B shares$3.54 billion
Morgan Stanley (MS)$1.77 billion
Blackrock (BLK) $714 million
Visa (V)$354 million
Vale SA (VALE) $298 million
iShares Global Materials ETF (MXI) $254 million
iShares Global Energy ETF (IXC)$235 million
iShares Europe, Australasia,
Far East ETF (EFA) $207 million
Vale SA (VALEP) Preferred Shares$200 million
iShares Emergaing Market ETF (EEM)$187 million
Should you buy these stocks? Well, one China observer, Zach Karabell of analysis firm RiverTwice, is quoted byCNBC’s Lee Brodieas saying no: “I don�t think that this is the best guide, says Zach Karabell. I�d buy what China is buying as a economy rather than buy what China is buying as an investment corporation.”
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