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By Matt Doiron

Hedge funds file 13D or 13G filings with the SEC when they take on, add to, or sell part of major holdings in public companies. By reviewing these filings and studying the history of a particular fund's investment in the same companies, investors can get an idea of what top hedge fund managers think about the same stocks that they themselves have the opportunity to trade in the market. Here are five stocks which were bought by hedge funds last week:

Vistaprint Limited (VPRT): The $1.2 billion-company, which produces custom supplies such as business cards, calendars, key chains, and magnets to small businesses, received further investment from Glenn Greenberg's Brave Warrior Capital. Brave Warrior held 3.4 million shares of Vistaprint at the end of March after increasing its stake in the first quarter. In the most recent filing, it declared ownership of 3.9 million shares in Vistaprint, giving the fund 10.6% of the shares outstanding (learn more about Brave Warrior Capital's portfolio). Vistaprint trades at a trailing P/E of 24 as it has been struggling to maintain its profits recently. So far this year, it is about even with the S&P.

Navistar International Corporation (NAV): MHR Fund Management, managed by former Carl Icahn deputy Mark Rachesky, has increased its holdings in Navistar to 10 million shares. It had no position in the stock through March. Icahn himself had been buying into the company in an effort to force it to enter into a merger. Navistar has fallen close to 40% this year amid regulatory issues with its new truck engine. Rachesky now owns close to 15% of the company and might be able to prevent Icahn from forcing changes on management (read the details about Navistar and MHR's position).

Kennametal Inc. (KMT): Alexander Roepers's Atlantic Investment Management has increased its holdings in Kennametal, a provider of metalworking products to industrial and infrastructure customers. At the end of March, the fund held 3.4 million shares. A filing from mid-June disclosed ownership of 4.3 million shares. With Atlantic's stake now at 5.2 million shares, the fund is expressing confidence that Kennametal's fundamental value is not being recognized by a market that has sent its shares down 25% in the last three months - to a point that it currently trades at a forward P/E of about 8 (read a detailed analysis of Kennametal).

Colfax Corporation (CFX): John Griffin, a top lieutenant of Julian Robertson at Tiger Management, took a position of 5.4 million shares in pump and valve company Colfax. His fund, Blue Ridge Capital, was not owning any of the stock at the end of the first quarter (see some of John Griffin's other stock picks). The stock has fallen about 23% since April, likely tipping it into a territory where Griffin believed it was a good value. If the stock remains low or continues to fall, investors may be able to buy in at a lower price than Blue Ridge. Colfax is currently trading at about 12 times analyst expectations for future earnings.

American Capital, Ltd. (ACAS): Luxor Capital, managed by Christian Leone, disclosed that it had acquired 17.5 million shares of the private investment business, which had returned about 40% so far this year. Luxor has bought all of these shares since the end of March, thereby joining John Paulson and Fortress Investment Group as significant holders of the stock. American Capital has done well this year - up about 40% - and its management has announced a share buyback program, which theoretically is a sign that the management believes the company is still undervalued (read our detailed analysis).

Source: 5 Stocks Hedge Funds Are Interested In Right Now