Keeping tabs on what billionaire hedge fund managers do is a great way to check your investment strategy. While blindly following them isn't advisable, seeing what they're doing and checking that against your own thoughts is a good way of seeing if you're on the same page, especially when there's a hot trend like artificial intelligence (AI).

The 13F filings for Q1 were recently released, revealing some common themes across hedge funds. While many stocks were bought, one is a clear favorite.

I'll focus on three hedge funds: Tiger Global Management, Soros Fund Management, and Bridgewater Associates. These funds are run by billionaires Chase Coleman, George Soros, and Ray Dalio, respectively. In Q1, all three of these funds had sizable purchases of Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL). For Bridgewater and Tiger, Alphabet was the most purchased stock in Q1.

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Source Fool.com