Group 1 - The global fundamental long/short hedge funds experienced a loss of 50 basis points last week, but gained 103 basis points in June and are up 425 basis points year-to-date [1] - The total leverage ratio for fundamental long/short strategies decreased by 0.3 percentage points to 206.2%, which is in the 94th percentile for the past year, while the net leverage ratio fell by 1.7 percentage points to 50.2%, placing it in the 14th percentile for the same period [1] - Asian emerging markets faced significant net selling, primarily driven by the Chinese market, with hedge funds net selling Chinese stocks for the fourth consecutive week at the fastest pace in two and a half months, entirely driven by short selling [1] Group 2 - Macro products and individual stocks were both net sold, with a roughly equal share in the nominal net selling total; the sectors with the highest net selling were non-essential consumer, essential consumer, healthcare, and financials [2] - H-shares experienced net selling throughout the week, while A-shares and American Depositary Receipts (ADRs) saw relatively smaller net selling [2] - The total holdings/net holdings of Chinese stocks, as a percentage of the total risk exposure of major brokerage accounts, are currently at 4.8% and 6.8%, respectively, which are in the 52nd and 26th percentiles compared to the past year, and in the 11th and 7th percentiles compared to the past five years [2]