This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Atticus Hedge Fund Likes MasterCard

Hedge fund Atticus Management is shifting its attention to credit cards and airplanes.

The $12 billion fund led by Timothy Barakett disclosed Monday that it has acquired 5.1% equity stakes in both MasterCard (MA - Get Report) and Mexican airport management company Grupo Aeroportuario (PAC), also known as Pacific Airport Group. On the basis of today's share prices, Atticus' stake in MasterCard is valued at $200 million, and its holding in Pacific Airport is worth $76 million.

Atticus, which manages six different funds, has made a strategy out of buying significant equity stakes in companies that either are in a hot sector, are ripe for a rebound or are potential acquisition targets. Atticus is up about 27% this year.

The hedge fund most recently was in the news because of its high-stakes gamble on global consolidation of stock exchanges. Prior to last week's announcement of the merger between the New York Stock Exchange (NYX) and Euronext, Atticus had been a significant equity holder in the NYSE, Euronext and Germany's Deutsche Borsche, which also made a bid for Euronext.

It's not clear from the regulatory filings when Atticus began acquiring shares of MasterCard and Grupo Aeroportuario. Both companies had splashy IPOs this year.

MasterCard, the big credit card association, raised $2.4 billion in its May 24 initial public offering. Shares of MasterCard, priced at $39, most recently traded at $49.92, up 28%.

Shares of Pacific Airport, which raised $1 billion in a February IPO, currently sell for $30.82. The stock, technically listed as an ADR in the U.S., is up 43% since its $21 offering price.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
MA $98.67 0.00%
PAC $93.84 0.00%
AAPL $117.81 0.00%
FB $105.45 0.00%
GOOG $750.26 0.00%


Chart of I:DJI
DOW 17,798.49 -14.90 -0.08%
S&P 500 2,090.11 +1.24 0.06%
NASDAQ 5,127.5250 +11.3820 0.22%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs