Top hedge funds of April and what they're buying

Traders work on the floor of the New York Stock Exchange.
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Traders work on the floor of the New York Stock Exchange.

The S&P 500 inched higher last month, putting up just a 0.85 percent gain in April.

But some hedge funds trounced the benchmark, getting returns that will be better than many of their peers' full-year performance.

Here's how they did it.