United States Brent Oil Fund
BNO
29 hedge funds and large institutions have $28.7M invested in United States Brent Oil Fund in 2025 Q2 according to their latest regulatory filings, with 6 funds opening new positions, 10 increasing their positions, 7 reducing their positions, and 7 closing their positions.
465% more call options, than puts
Call options by funds: $14.2M | Put options by funds: $2.51M
43% more repeat investments, than reductions
Existing positions increased: 10 | Existing positions reduced: 7
3% less capital invested
Capital invested by funds: $29.7M → $28.7M (-$927K)
2.72% less ownership
Funds ownership: 30.42% → 27.69% (-2.7%)
3% less funds holding
Funds holding: 30 → 29 (-1)
14% less first-time investments, than exits
New positions opened: 6 | Existing positions closed: 7
100% less funds holding in top 10
Funds holding in top 10: 1 → 0 (-1)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
HFM
Harvest Fund Management
Beijing,
China
|
+$4.23M |
| 2 |
Morgan Stanley
New York
|
+$3.78M |
| 3 |
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
|
+$2.15M |
| 4 |
Citadel Advisors
Miami,
Florida
|
+$1.51M |
| 5 |
LPL Financial
San Diego,
California
|
+$387K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
UBS Group
Zurich,
Switzerland
|
-$5.17M |
| 2 |
EFI
EHP Funds Inc
Toronto,
Canada
|
-$4.4M |
| 3 |
Jane Street
New York
|
-$932K |
| 4 |
JF
Jump Financial
Chicago,
Illinois
|
-$915K |
| 5 |
VF
Virtu Financial
New York
|
-$576K |
BNO Hedge Fund Activity: Q2 2025 in Review
29 of the 7,614 institutional investors tracked by Wall St. Rank reported a position in United States Brent Oil Fund (BNO) for Q2 2025, worth a combined $28.7M — down 3.1% from $29.7M a quarter earlier.
Sellers outnumbered buyers: 7 funds closed out of BNO and 6 opened new positions — a net loss of 1 holder — while 7 trimmed existing stakes and 10 added.
The largest buyer was Harvest Fund Management, adding an estimated $4.23M. The largest seller was UBS Group, cutting an estimated $5.17M.
- 29 institutional investors held United States Brent Oil Fund (BNO) as of Q2 2025, down from 30 in Q1 2025.
- Funds reported $28.7M of United States Brent Oil Fund stock for Q2 2025, down 3.1% quarter-over-quarter.
- 6 funds opened new United States Brent Oil Fund positions in Q2 2025 and 7 closed out, a net change of -1 holder.
- The largest United States Brent Oil Fund buyer in Q2 2025 was Harvest Fund Management, an estimated $4.23M added.
- The largest United States Brent Oil Fund seller in Q2 2025 was UBS Group, an estimated $5.17M sold.
Based on aggregated 13F filings for Q2 2025.