>>The fund's largest holding as of March 31 was Equinix. (EQIX) The fund bought it around 22 in 2003. The fund's average cost now is about 38. The stock is now trading around 95.
The fund added to its position when the stock went down to around 60 in March, Lippert says.
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Because of the cash flow it generates, Lippert thought the stock was cheap at 60.
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