Although its most recent quarterly balance sheet showed it had $5.8 billion in marketable securities, Google has asked the Securities and Exchange Commission to exempt it from mutual fund regulations, the Associated Press reports. That's just over 40% of its total $14.4 billion in assets in marketable securities, a threshold that the SEC sets for a company to be treated as an investment firm or mutual fund.

In addition, 8% of Google's income of $1.5 billion last year was from investments.

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