market folly

Steve Mandel's hedge fund firm Lone Pine Capital has filed a 13G with the SEC regarding shares of Equinix (EQIX).  Per the filing, Lone Pine has revealed a 5.6% ownership stake in EQIX with over 2.77 million shares.  The 13G was filed due to activity on April 17th.

The hedge fund firm had previously held a EQIX stake, but apparently sold out of the position in the fourth quarter of 2013 as it did not appear on their 13F filing that detailed year-end positions.

With the newly filed 13G, Lone Pine is back in the shares again after a brief hiatus.

Coatue Management, longtime holder of EQIX shares, dumped their position in the fourth quarter as well.  This was significant as it had been one of their top holdings.

Other hedge funds have been involved in this name too and we've posted JANA Partners' thesis on EQIX and then SPO Advisory has increased its EQIX stake.

Per Google Finance, Equinix "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."

You can view other recent portfolio activity from Lone Pine here.