The Configuration section of the HUD shows an abbreviated version of your ship's current "loadout". It has two distinct sections:

HUD Config
   * The top half shows which weapons are currently equipped on your ship. Weapons surrounded by a bright teal border are the currently active group.
   * The bottom half shows the contents of your ship's cargo hold. To see more details about your cargo loadout, open the Cargo window in your PDA, which is by default bound to the 'j' key.