LinkedIn’s Soar On Microsoft Acquisition Boosts Few Funds

The Microsoft-LinkedIn deal this week conferred some much needed mercy on funds this quarter, if they owned LinkedIn (NYSE:LNKD) stock.
Oakmark Funds, for instance, had such a sharp uptick in its return June 13, the day Microsoft announced its plan to acquire LinkedIn, it sent a note to clients to explain. Its stake in LinkedIn was a surprise to investors because the firm started the position in the second quarter before the SEC-required disclosure date. The stock’s spike to $196 the day of the announcement from $131 the day prior gave an unusually quick profit for the long-term focused fund.