market folly

Andrew Spokes' hedge fund firm Farallon Capital has filed an amended 13D with the SEC regarding their stake in Hudson Pacific Properties (HPP).  Per the filing, Farallon now owns 4.1% of the company with over 3.63 million shares.

Their most recent filing was required due to activity on April 10th as Farallon Funds "completed an underwritten public offering of 6,037,500 shares."

Back in January of this year, they had disclosed exposure of over 8.7 million shares, so their net position has decreased by around 5 million shares since then.

Per Google Finance, Hudson Pacific Properties is "a full-service, vertically integrated real estate investment trust (REIT), focused on owning, operating and acquiring high-quality office and media and entertainment properties in select growth markets primarily in Northern and Southern California. Its investment strategy is focused on high barrier-to-entry, in-fill locations with favorable, long-term supply demand characteristics."

For more from this hedge fund, head to other recent portfolio activity from Farallon here.