01 Sep 2012 Chuck Akre: Investing In The Era Of The Constrained Consumer ( Portfolio ) Chuck Akre, manager of the Akre Focus Fund, believes that high unemployment, tight credit and rising food and energy costs will put a damper on consumer spending. Yet his fund’s largest holding, at 9.7 percent, is MasterCard Inc., the consumer credit card-servicing giant. The reason? Akre sees a growing trend towards paperless transactions, which he says will pay-off for MasterCard over the long-term.