Hedge funds’ net weighting in Consumer Discretionary remains the highest of all sectors at 17% followed by Information Technology. Hedge Funds increased their Materials exposure during 2Q 2010 and remained most underweight Consumer Staples and Financials.

The quarterly Goldman Hedge Fund Trend Monitor, aka the HF groupthink update, is released, chock full of HF holding trivia, such as that should Apple ever miss its priced to absolute perfection business model, a whopping 181 hedge funds are going to suffer, and 75 HFs, who have Apple as a top 10 holding, are going to get crushed.