Chase Coleman’s Tiger Global Management reported later yesterday that it has increased its activist stake in Linkedin Corp (LNKD). According to a regulatory filing, as of the end of September, Chase Coleman held 300 thousand shares of Linkedin. These shares were bought during the issuer’s IPO on May 24, 2011. At the close on December 31, 2011, the Class A Common Shares owned by the Tiger Funds were privately transferred to Tiger Global Investments. So now Chase Coleman has just above 4 million shares of Linkedin in his portfolio.
In the third quarter, some other hedge funds also had Linkedin in their portfolios. Philippe Laffont’s Coatue Management reported 383 thousand shares, and Robert Pitts’ Steadfast Capital Management reported 305 thousand shares.
Seeded by legendary investor Julian Robertson, Coleman is only 35 years old and a graduate of Williams College. Tiger Global Management returned 71 percent after fees in 2007. Tiger Global’s Chase Coleman is one of the more successful tiger cubs. Coleman’s Tiger Global has nearly $5 Billion under management and achieved an average 21% return per year since 2001. During the first nine months of 2010 Tiger Global’s flagship fund returned 64%. He mainly invests in technology companies.
Per Google Finance, LinkedIn Corp. is “a professional network on the Internet with more than 90 million members in over 200 countries and territories. Through the Company’s platform, members are able to create, manage and share their professional identity online, build and engage with their professional network, access shared knowledge and insights, and find business opportunities.”