A Wells Fargo Fund Seeks Big Growth

>>Recent market volatility has offered new opportunities, Pence says. When the broader market sold off early this year, the fund found buys in cyclical stocks, banking on an uptick in the global industrial market.

In Q1, a dip in tech stocks offered an opportunity for the fund to add to Equinix (NasdaqGS:EQIX - News), a top holding as of the fund's latest disclosure.

Big companies, from investment banks to tech titans, tap firms like Equinix to provide space, power and cooling for their servers. Equinix's clients preserve capital by avoiding costly construction needed to build their own facilities.

For Equinix, it's a high-margin business that's produced improving earnings growth. Revenue growth has accelerated for seven quarters in a row. Equinix added 144 clients last quarter alone, Leach says.

A big pullback in Q1 and again after July 25 has left the stock down 22% so far this year. But the stock is up 38% off its March low.