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 Quote) and Mexican airport management company Grupo Aeroportuario(PAC Quote), 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. ...