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.
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%)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
JP Morgan Chase
New York
|
+$73.5M |
| 2 |
EQF
Evergreen Quality Fund
Grand Cayman,
Cayman Islands
|
+$19M |
| 3 |
Jane Street
New York
|
+$17.9M |
| 4 |
NCA
Newbrook Capital Advisors
New York
|
+$15.8M |
| 5 |
IMC Chicago
Chicago,
Illinois
|
+$15.3M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
RL
Ruffer LLP
London,
United Kingdom
|
-$3.02M |
| 2 |
Daiwa Securities Group
Tokyo,
Japan
|
-$905K |
| 3 |
UBS Group
Zurich,
Switzerland
|
-$603K |
| 4 |
HT
Headlands Technologies
Chicago,
Illinois
|
-$277K |
| 5 |
BNP Paribas Financial Markets
Paris,
France
|
-$191K |
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.