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United States Brent Oil Fund
BNO

63 hedge funds and large institutions have $372M invested in United States Brent Oil Fund in 2026 Q1 according to their latest regulatory filings, with 40 funds opening new positions, 15 increasing their positions, 4 reducing their positions, and 3 closing their positions.

New
Increased
Maintained
Reduced
Closed

1,280% more capital invested

Capital invested by funds: $27M → $372M (+$345M)

1,233% more first-time investments, than exits

New positions opened: 40 | Existing positions closed: 3

275% more repeat investments, than reductions

Existing positions increased: 15 | Existing positions reduced: 4

151% more call options, than puts

Call options by funds: $154M | Put options by funds: $61.1M

142% more funds holding

Funds holding: 26 → 63 (+37)

18.57% more ownership

Funds ownership: 27.11% → 45.68% (+19%)

Holders
63
Holders Change
+37
Holders Change %
+142.31%
% of All Funds
0.78%
Holding in Top 10
1
Holding in Top 10 Change
+1
Holding in Top 10 Change %
% of All Funds
0.01%
New
40
Increased
15
Reduced
4
Closed
3
Calls
$154M
Puts
$61.1M
Net Calls
+$92.5M
Net Calls Change
+$87.1M

Top Buyers

Rank Fund Capital Flow
1
JP Morgan Chase
JP Morgan Chase
New York
+$73.5M
2
EQF
Evergreen Quality Fund
Cayman Islands
+$19M
3
Jane Street
Jane Street
New York
+$17.9M
4
NCA
Newbrook Capital Advisors
New York
+$15.8M
5
IMC Chicago
IMC Chicago
Illinois
+$15.3M

Top Sellers

Rank Fund Capital Flow
1
RL
Ruffer LLP
United Kingdom
-$3.02M
2
Daiwa Securities Group
Daiwa Securities Group
Japan
-$905K
3
UBS Group
UBS Group
Switzerland
-$603K
4
HT
Headlands Technologies
Illinois
-$277K
5
BNP Paribas Financial Markets
BNP Paribas Financial Markets
France
-$191K
Name Holding Trade Value Shares
Change 		Change in
Stake
DZ Bank
26
DZ Bank
Germany
$1.64M +$944K +25,463 +415%
WA
27
WESPAC Advisors
California
$1.42M +$1.01M +27,247 New
IP
28
Ignite Planners
California
$1.15M -$13.1K -353 -2%
Belvedere Trading
29
Belvedere Trading
Illinois
$1.02M +$727K +19,624 New
TSS
30
Two Sigma Securities
New York
$988K +$349K +9,415 +98%
LOAMU
31
Lombard Odier Asset Management (USA)
New York
$854K +$608K +16,413 New
AAG
32
Armstrong Advisory Group
Massachusetts
$835K +$595K +16,049 New
AWM
33
Avondale Wealth Management
Texas
$806K +$122K +3,300 +27%
MA
34
Mutual Advisors
Nebraska
$545K +$389K +10,486 New
CH
35
CVS Health
Rhode Island
$520K +$371K +10,000 New
Osaic Holdings
36
Osaic Holdings
Arizona
$511K +$204K +5,515 +128%
Cetera Investment Advisers
37
Cetera Investment Advisers
Illinois
$448K +$319K +8,607 New
KAS
38
Kestra Advisory Services
Texas
$438K +$117K +3,157 +60%
HT
39
Headlands Technologies
Illinois
$424K -$277K -7,460 -48%
OFG
40
Orcam Financial Group
California
$392K +$280K +7,545 New
P
41
&Partners
Tennessee
$351K +$250K +6,742 New
HighTower Advisors
42
HighTower Advisors
Illinois
$350K +$250K +6,737 New
Royal Bank of Canada
43
Royal Bank of Canada
Ontario, Canada
$310K +$73.2K +1,974 +49%
SC
44
Scotia Capital
Ontario, Canada
$275K +$196K +5,294 New
SG
45
StoneX Group
New York
$237K +$169K +4,552 New
OPWM
46
Oxinas Partners Wealth Management
Indiana
$231K +$165K +4,450 New
MT
47
Midwest Trust
Kansas
$216K +$154K +4,146 New
IWC
48
Integrated Wealth Concepts
Massachusetts
$208K +$148K +4,000 New
TRCT
49
Tower Research Capital (TRC)
New York
$149K +$106K +2,864 New
SNB
50
Security National Bank
Nebraska
$136K +$97.1K +2,620 New
1
2
3

BNO Hedge Fund Activity: Q1 2026 in Review

63 of the 8,126 institutional investors tracked by Wall St. Rank reported a position in United States Brent Oil Fund (BNO) for Q1 2026, worth a combined $372M — up 1,280% from $27M a quarter earlier.

Buyers outnumbered sellers: 40 funds opened new BNO positions and 3 closed out — a net gain of 37 holders — while 15 added to existing stakes and 4 trimmed.

The largest buyer was JP Morgan Chase, adding an estimated $73.5M. The largest seller was Ruffer LLP, exiting entirely with an estimated $3.02M sold.

  • 63 institutional investors held United States Brent Oil Fund (BNO) as of Q1 2026, up from 26 in Q4 2025.
  • Funds reported $372M of United States Brent Oil Fund stock for Q1 2026, up 1,280% quarter-over-quarter.
  • 40 funds opened new United States Brent Oil Fund positions in Q1 2026 and 3 closed out, a net change of +37 holders.
  • The largest United States Brent Oil Fund buyer in Q1 2026 was JP Morgan Chase, an estimated $73.5M added.
  • The largest United States Brent Oil Fund seller in Q1 2026 was Ruffer LLP, an estimated $3.02M sold.

Based on aggregated 13F filings for Q1 2026.