http://www.investors.com/breakingnews.asp?journalid=65821482 The Big 10: Top Hedge Fund Trades of 2007 NEW YORK, Jan 03, 2008 /PRNewswire via COMTEX/ -- Even though 2007 proved a turbulent year for some hedge funds, others were able to expertly play the market to their advantage. Dow Jones Hedge Fund Trades, which is the only publication dedicated to covering the activity and trading strategies of hedge funds, highlighted 10 of the year's very best trades in its second annual set of rankings released this week. Among the top hedge fund trades were two deals by Atticus Management, which resulted in a collective profit of nearly $1.2 billion for the firm. All told, the "Big 10" hedge fund trades garnered profits of more than $3 billion for their respective investors. Top Trade #1: Freeport McMoran Copper & Gold Firm: Atticus Management Profit: $800 million The New York-based hedge fund hit the mother lode for the second year in the row, scoring paper gains of at least $800 million through its holding in the mining giant. Top Trade #2: MBIA Inc., Ambac Financial Firm: Pershing Square Capital Management Profit: $500+ million William Ackman's longtime gamble that bond insurance companies would run into trouble finally paid off this year as mortgage loans to high-risk borrowers started going bad and credit markets stumbled. Top Trade #3: Foster Wheeler Firm: Tontine Partners Profit: $426 million Sage investments in engineering and construction companies helped cushion the Greenwich, Conn.-based firm's losses in finance and housing. Top Trade #4: Union Pacific, Other U.S. Railroads Firm: Atticus Management Profit: $387 million A counterintuitive bet in a sector that typically slows down as an economic cycle peaks paid off handsomely for Timothy Barakett's shop. On top of paper and actual gains, Atticus made more than $20 million in dividend earnings on its railroad holdings. Top Trade #5: First Solar Firm: Maverick Capital Profit: $350+ million After a stormy 2006, Maverick rebounded in 2007 thanks to its investments in solar and alternative energy. First Solar was one of the sector's hottest performers. Top Trade #6: Crown Castle International, American Tower Firm: Glenview Capital Management Profit: $319 million Larry Robbins' New York-based hedge fund got all the right signals when it targeted the wireless towers sector. The trades crowned a successful year that saw the firm up 24%. Top Trade #7: CF Industries Firm: Dawson-Herman Capital Management Profit: $160 million Ethanol companies suffered this year, but taking a long view of the biofuels sector helped the New York-based firm cultivate a neat return from the fertilizer company. Top Trade #8: Onyx Pharmaceuticals Firm: Meditor Capital Management Profit: $155 million Having booked some profits in Onyx at the beginning of the year, the U.K.- based firm held on to the company's shares to benefit from a further jump when its cancer drug beat analysts' estimates. Top Trade #9: Chipotle Mexican Grill Firm: Tremblant Capital Group Profit: $95 million When other firms were asking for the check, Brett Barakett went back for seconds in this fast-food chain that promises healthy fare and delivered a healthy profit for the $4 billion-plus firm. Top Trade #10: United Therapeutics Corp. Firm: Shunway Capital Partners Profit: $73 million The New York-based firm gradually increased its stake in United Therapeutics during the year, gaining big-time on good news about the company's pulmonary hypertension drug.