The world's largest hedge funds have bolstered their equity holding so far this year, increasing their exposure by over 5 percent and adding more to Boeing than any other stock, according to financial research firm FactSet.
The top 50 hedge fund managers also made significant reductions to their stake in News Corp., Factset said. They reduced their holding by 20.3 percent in the stock, which also represented the largest individual equity sale in three of the funds.
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Managers took profits in the media giant as the stock, which has been a strong performer this year, returned over 30 percent year-to-date.The funds also cut their holdings in insurer AIG by 16.2 percent.
"With these sales, fund investors seem to be predicting a slowdown or reversal for these two issues, as AIG and News Corp. have had very similar year-to-date returns as Boeing so far this year," Michael Amenta, research analyst at FactSet, said in a report on hedge fund ownership.
AIG has risen 27.2 percent year-to-date, News Corp. is up 28.8 percent, while Boeing shares are up 28.2 percent.
Google was another top choice, with the technology company present in the majority (62 percent) of the hedge funds' portfolios.
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"This distinction was previously held by Apple. Two quarters ago, Apple was held just as widely as Google, and it was the largest equity holding of nearly one-fourth of the funds. However, by Q1 2013, Apple was held by only 40 percent of the funds, with only four carrying it as the top stock holding," said Amenta.
(Read More: Apple Falling Out of Favor With Top Hedge Funds)