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United States Oil Fund
USO

144 hedge funds and large institutions have $385M invested in United States Oil Fund in 2025 Q3 according to their latest regulatory filings, with 23 funds opening new positions, 27 increasing their positions, 45 reducing their positions, and 26 closing their positions.

New
Increased
Maintained
Reduced
Closed

6.78% more ownership

Funds ownership: 35.18% → 41.96% (+6.8%)

3% less call options, than puts

Call options by funds: $1.1B | Put options by funds: $1.14B

3% less funds holding

Funds holding: 148 → 144 (-4)

12% less first-time investments, than exits

New positions opened: 23 | Existing positions closed: 26

13% less capital invested

Capital invested by funds: $441M → $385M (-$56.2M)

40% less repeat investments, than reductions

Existing positions increased: 27 | Existing positions reduced: 45

Holders
144
Holders Change
-4
Holders Change %
-2.7%
% of All Funds
1.89%
Holding in Top 10
1
Holding in Top 10 Change
+1
Holding in Top 10 Change %
% of All Funds
0.01%
New
23
Increased
27
Reduced
45
Closed
26
Calls
$1.1B
Puts
$1.14B
Net Calls
-$38.9M
Net Calls Change
+$476M

Top Buyers

Rank Fund Capital Flow
1
Morgan Stanley
Morgan Stanley
New York
+$16.1M
2
UBS Group
UBS Group
Switzerland
+$12.6M
3
Jane Street
Jane Street
New York
+$11.7M
4
HP
Hartree Partners
New York
+$9.38M
5
Simplex Trading
Simplex Trading
Illinois
+$4.95M

Top Sellers

Rank Fund Capital Flow
1
IMC Chicago
IMC Chicago
Illinois
-$24.3M
2
Citadel Advisors
Citadel Advisors
Florida
-$19.5M
3
QC
Quadrature Capital
United Kingdom
-$17M
4
Goldman Sachs
Goldman Sachs
New York
-$13.3M
5
Citigroup
Citigroup
New York
-$12.5M
Name Holding Trade Value Shares
Change 		Change in
Stake
KFS
51
Kaizen Financial Strategies
California
$492K -$53.3K -710 -9%
FNBT
52
FineMark National Bank & Trust
Florida
$490K – – –
PCM
53
Prelude Capital Management
New York
$443K +$450K +6,000 New
IAG
54
Investmark Advisory Group
Connecticut
$437K – – –
IP
55
Ignite Planners
California
$432K – – –
GSEP
56
Golden State Equity Partners
California
$372K +$7.73K +103 +2%
KWM
57
Keebeck Wealth Management
Illinois
$369K +$375K +5,000 New
SC
58
Scotia Capital
Ontario, Canada
$336K +$20.9K +278 +6%
DCM
59
Discovery Capital Management
Connecticut
$334K +$4.35K +58 +1%
SMC
60
Smith, Moore & Co
Missouri
$329K – – –
FFS
61
Founders Financial Securities
Maryland
$321K -$1.35K -18 -0.4%
IAN
62
Integrated Advisors Network
Texas
$316K -$33.7K -449 -9%
LSA
63
Lion Street Advisors
Texas
$308K +$405K +5,389 New
HWM
64
HB Wealth Management
Georgia
$290K +$2.78K +37 +0.9%
FHA
65
Flagship Harbor Advisors
Massachusetts
$277K – – –
SA
66
Sanctuary Advisors
Indiana
$256K +$6.08K +81 +2%
HighTower Advisors
67
HighTower Advisors
Illinois
$255K -$5.48K -73 -2%
MG
68
Marex Group
$246K -$118K -1,572 -32%
JC
69
JB Capital
Connecticut
$245K – – –
SAM
70
Secure Asset Management
Michigan
$243K – – –
TI
71
Truepoint Inc
Ohio
$223K -$11.7K -156 -5%
PWAM
72
Private Wealth Asset Management
Iowa
$221K – – –
SFS
73
Summit Financial Strategies
Ohio
$216K – – –
Squarepoint
74
Squarepoint
New York
$213K +$216K +2,884 New
Wealth Enhancement Advisory Services
75
Wealth Enhancement Advisory Services
Minnesota
$212K -$9.08K -121 -4%
1 2
3
4 5

USO Hedge Fund Activity: Q3 2025 in Review

144 of the 7,621 institutional investors tracked by Wall St. Rank reported a position in United States Oil Fund (USO) for Q3 2025, worth a combined $385M — down 13% from $441M a quarter earlier.

Sellers outnumbered buyers: 26 funds closed out of USO and 23 opened new positions — a net loss of 3 holders — while 45 trimmed existing stakes and 27 added.

The largest buyer was Morgan Stanley, adding an estimated $16.1M. The largest seller was IMC Chicago, exiting entirely with an estimated $24.3M sold.

  • 144 institutional investors held United States Oil Fund (USO) as of Q3 2025, down from 148 in Q2 2025.
  • Funds reported $385M of United States Oil Fund stock for Q3 2025, down 13% quarter-over-quarter.
  • 23 funds opened new United States Oil Fund positions in Q3 2025 and 26 closed out, a net change of -3 holders.
  • The largest United States Oil Fund buyer in Q3 2025 was Morgan Stanley, an estimated $16.1M added.
  • The largest United States Oil Fund seller in Q3 2025 was IMC Chicago, an estimated $24.3M sold.

Based on aggregated 13F filings for Q3 2025.