It's unclear whether the top hedge fund managers would bet on riding one of Boeing's troubled Dreamliners, but Boeing(BA) was the favorite stock of the top 50 hedge fund managers in the world in the first quarter of 2013, according to FactSet.
Hedge funds poured roughly $1.6 billion into Boeing, helping push the airplane manufacturer's stock up 31% so far this year.
Apple(AAPL) was once the "it' stock among hedge funds. That's changed.
Hedge funds have also grown disenchanted with insurer AIG(AIG) and Rupert Murdoch's media giant News Corp(NWS). Funds reduced exposure to both stocks by 16% and 20% respectively during the first quarter, according to FactSet
Overall, hedge funds upped their bets on stocks in the first quarter. The Securities and Exchange Commission mandates that hedge funds disclose stock holdings 45 days after the close of a quarter.
So it's not clear just yet what hedge funds did in April and so far in May. Hedge funds are also not required to reveal what stocks they are betting against through short selling.