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Activist Funds Fight Their Way to Gains

Buoyed in part by a rising stock market, fund managers that pick corporate fights are producing solid returns for the first half of the year.

Activists are among the best-performing hedge funds this year, with most of the biggest players posting gains of between 10 and 13 percent through June on fairly concentrated portfolios. A big part of the reason, of course, is that the stock market in general rose 12.6 percent, excluding dividends reinvested.

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