John Scully's SPO Advisory Increases Equinix Position ~ market folly

Monday, March 24, 2014

John Scully's SPO Advisory Increases Equinix Position

John Scully's investment firm SPO Advisory has filed an amended 13G with the SEC regarding its position in Equinix (EQIX).  Per the filing, SPO now owns 10.4% of EQIX with over 5.1 million shares.

This marks an increase of over 1.18 million shares since the end of 2013.  The filing was made due to activity on March 19th.

Shares of EQIX have seen a ton of hedge fund activity over the past few months.  Some examples include: longtime owner Coatue Management sold its Equinix position, but then Barry Rosenstein's JANA Partners outlined their thesis on EQIX in their Q4 letter.  

About SPO Advisory

John Scully, William Patterson, and William Oberndorf founded SPO Advisory in 1989.  SPO runs a concentrated portfolio of public equities pursuing a value investing strategy.  Some of their other top holdings at the end of 2013 included Charles Schwab (SCHW), Liberty Global (LBTYK), and Pioneer Natural Resources (PXD).

About Equinix

Per Google Finance, Equinix is "connects businesses with partners and customers worldwide through a global platform of data centers. The Company connects approximately 4000 customers, across the Americas, Europe, Middle East and Africa (EMEA) and Asia-Pacific. Platform Equinix combines international business exchange (IBX) data centers, a global footprint and ecosystems. The Company offers each customer a choice of business partners and solutions based on their colocation, interconnection and managed IT service needs. Equinix offers customers direct interconnection to an aggregation of bandwidth providers, including the Internet Service Providers (ISPs), broadband access networks and international carriers. Its customers include carriers and other bandwidth providers, cloud and information technology services providers, content providers, financial companies and global enterprises."

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