United States Brent Oil Fund
BNO
55 hedge funds and large institutions have $220M invested in United States Brent Oil Fund in 2026 Q2 according to their latest regulatory filings, with 23 funds opening new positions, 11 increasing their positions, 19 reducing their positions, and 30 closing their positions.
173% more call options, than puts
Call options by funds: $221M | Put options by funds: $80.9M
10.84% less ownership
Funds ownership: 45.68% → 34.85% (-11%)
13% less funds holding
Funds holding: 63 → 55 (-8)
23% less first-time investments, than exits
New positions opened: 23 | Existing positions closed: 30
41% less capital invested
Capital invested by funds: $372M → $220M (-$152M)
42% less repeat investments, than reductions
Existing positions increased: 11 | Existing positions reduced: 19
100% less funds holding in top 10
Funds holding in top 10: 1 → 0 (-1)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
CCM
Carronade Capital Management
Darien,
Connecticut
|
+$68.9M |
| 2 |
Citadel Advisors
Miami,
Florida
|
+$33.6M |
| 3 |
HFM
Harvest Fund Management
Beijing,
China
|
+$23.4M |
| 4 |
CBU
CIBC Bancorp USA
Chicago,
Illinois
|
+$11.5M |
| 5 |
QC
Quadrature Capital
London,
United Kingdom
|
+$6.26M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
JP Morgan Chase
New York
|
-$99.4M |
| 2 |
EQF
Evergreen Quality Fund
Grand Cayman,
Cayman Islands
|
-$26.7M |
| 3 |
Jane Street
New York
|
-$23.3M |
| 4 |
NCA
Newbrook Capital Advisors
New York
|
-$22.2M |
| 5 |
IMC Chicago
Chicago,
Illinois
|
-$19.5M |
BNO Hedge Fund Activity: Q2 2026 in Review
55 of the 8,316 institutional investors tracked by Wall St. Rank reported a position in United States Brent Oil Fund (BNO) for Q2 2026, worth a combined $220M — down 41% from $372M a quarter earlier.
Sellers outnumbered buyers: 30 funds closed out of BNO and 23 opened new positions — a net loss of 7 holders — while 19 trimmed existing stakes and 11 added.
The largest buyer was Carronade Capital Management, opening a new position worth an estimated $68.9M. The largest seller was JP Morgan Chase, cutting an estimated $99.4M.
- 55 institutional investors held United States Brent Oil Fund (BNO) as of Q2 2026, down from 63 in Q1 2026.
- Funds reported $220M of United States Brent Oil Fund stock for Q2 2026, down 41% quarter-over-quarter.
- 23 funds opened new United States Brent Oil Fund positions in Q2 2026 and 30 closed out, a net change of -7 holders.
- The largest United States Brent Oil Fund buyer in Q2 2026 was Carronade Capital Management, an estimated $68.9M added.
- The largest United States Brent Oil Fund seller in Q2 2026 was JP Morgan Chase, an estimated $99.4M sold.
Based on aggregated 13F filings for Q2 2026.