United States Brent Oil Fund
BNO
30 hedge funds and large institutions have $29.7M invested in United States Brent Oil Fund in 2025 Q1 according to their latest regulatory filings, with 7 funds opening new positions, 7 increasing their positions, 11 reducing their positions, and 9 closing their positions.
731% more call options, than puts
Call options by funds: $4.21M | Put options by funds: $507K
0.09% more ownership
Funds ownership: 30.33% → 30.42% (+0.09%)
9% less funds holding
Funds holding: 33 → 30 (-3)
14% less capital invested
Capital invested by funds: $34.5M → $29.7M (-$4.85M)
22% less first-time investments, than exits
New positions opened: 7 | Existing positions closed: 9
36% less repeat investments, than reductions
Existing positions increased: 7 | Existing positions reduced: 11
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
EFI
EHP Funds Inc
Toronto,
Canada
|
+$4.33M |
| 2 |
QC
Quadrature Capital
London,
United Kingdom
|
+$982K |
| 3 |
Morgan Stanley
New York
|
+$793K |
| 4 |
BNP Paribas Financial Markets
Paris,
France
|
+$617K |
| 5 |
HF
HRT Financial
New York
|
+$561K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
FTUS
Flow Traders U.S.
New York
|
-$3.65M |
| 2 |
JF
Jump Financial
Chicago,
Illinois
|
-$2.92M |
| 3 |
Jane Street
New York
|
-$2.58M |
| 4 |
IMC Chicago
Chicago,
Illinois
|
-$1.11M |
| 5 |
HFM
Harvest Fund Management
Beijing,
China
|
-$1.04M |
BNO Hedge Fund Activity: Q1 2025 in Review
30 of the 7,457 institutional investors tracked by Wall St. Rank reported a position in United States Brent Oil Fund (BNO) for Q1 2025, worth a combined $29.7M — down 14% from $34.5M a quarter earlier.
Sellers outnumbered buyers: 9 funds closed out of BNO and 7 opened new positions — a net loss of 2 holders — while 11 trimmed existing stakes and 7 added.
The largest buyer was EHP Funds Inc, opening a new position worth an estimated $4.33M. The largest seller was Flow Traders U.S., exiting entirely with an estimated $3.65M sold.
- 30 institutional investors held United States Brent Oil Fund (BNO) as of Q1 2025, down from 33 in Q4 2024.
- Funds reported $29.7M of United States Brent Oil Fund stock for Q1 2025, down 14% quarter-over-quarter.
- 7 funds opened new United States Brent Oil Fund positions in Q1 2025 and 9 closed out, a net change of -2 holders.
- The largest United States Brent Oil Fund buyer in Q1 2025 was EHP Funds Inc, an estimated $4.33M added.
- The largest United States Brent Oil Fund seller in Q1 2025 was Flow Traders U.S., an estimated $3.65M sold.
Based on aggregated 13F filings for Q1 2025.