10 Top Hedge Fund Stock Buys

NEW YORK ( TheStreet) -- The market has been dissecting the latest portfolio changes of the big hedge fund investors such as John Paulson, George Soros and David Tepper.

To get a broader view of what these sophisticated investors think about the markets, TheStreet studied the top ten hedge fund stock buys ranked by market value. The data is compiled from 13F quarterly regulatory filings.

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Investors should note that the filings are dated and also offer only a partial glimpse of the portfolio. Institutional investors are not required to disclose short positions.

Hedge funds appeared to favor financial above other sectors, with three of the top four big banks ranking high in the list of buys. Bank of America ( BAC) was conspicuously missing from that list.

Hedge funds added to their positions in blue-chip names as well, as they bet on a recovery in the U.S. economy and actively sought out dividend yielding stocks.

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Turnaround and restructuring plays were another prominent theme in hedge fund purchases.

Read on for more on the top ten stocks that found favor with hedge funds in the last quarter of 2010.

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