Mo’ Money

While average Americans sat on their ever expanding butts this past trading week, Timothy Barakett and the crew at Atticus Capital were busy hoisting a cherry atop what has turned out to be a very tasty year.

As the largest shareholders of NYX Group, the boyz were no doubt singing a sweet song to their clients, to the tune of $150 million, as the stock rocked to all-time highs. 

But those numbers pale in comparison to the coin they minted in Phelps Dodge.  Freeport-McMoran’s $26 billion bid for PD lifted the shares 28% on the week. And with Atticus again showing up as the top shareholder, the hedge fund’s haul on this deal made the NYX windfall look like a pittance.

A filing on September 30th shows them holding 16.8 million shares. With the stock up slightly over 27 points this week, tack on another $450 million. True, they might have hedged their exposure on these two positions, but noteworthy all the same.

Not bad for a 3 and 1/2 day work week.

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