A new report by Credit Suisse analyst Lori Calvasina focuses hedge fund, mutual fund and sell-side positioning by industry group. Despite varying positioning in most industries, there were several areas in which there is currently both bullish and bearish unanimous positioning.

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According to the Credit Suisse data, there is a consensus bullish bias toward Large Cap Food & Staples Retail at the moment. Hedge fund positioning in the group is elevated, the percent of mutual funds that are overweight is elevated and sell-side net buys are near 12-year highs.

Calvasina notes that hedge fund positioning is particularly important for the group, as net hedge fund exposure has demonstrated an 84 percent correlation to the group’s performance in the past year and a half.

Small Cap Software & Services also has unanimous support, with both percentage of mutual funds overweight and sell-side net buys at 12-year highs.

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