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United States Oil Fund
USO

183 hedge funds and large institutions have $541M invested in United States Oil Fund in 2023 Q1 according to their latest regulatory filings, with 22 funds opening new positions, 37 increasing their positions, 60 reducing their positions, and 33 closing their positions.

New
Increased
Maintained
Reduced
Closed

3.84% less ownership

Funds ownership: 36.69% → 32.85% (-3.8%)

9% less funds holding

Funds holding: 200 → 183 (-17)

14% less call options, than puts

Call options by funds: $1.22B | Put options by funds: $1.41B

20% less funds holding in top 10

Funds holding in top 10: 5 → 4 (-1)

27% less capital invested

Capital invested by funds: $740M → $541M (-$200M)

33% less first-time investments, than exits

New positions opened: 22 | Existing positions closed: 33

38% less repeat investments, than reductions

Existing positions increased: 37 | Existing positions reduced: 60

Holders
183
Holders Change
-17
Holders Change %
-8.5%
% of All Funds
2.92%
Holding in Top 10
4
Holding in Top 10 Change
-1
Holding in Top 10 Change %
-20%
% of All Funds
0.06%
New
22
Increased
37
Reduced
60
Closed
33
Calls
$1.22B
Puts
$1.41B
Net Calls
-$191M
Net Calls Change
-$508M

Top Buyers

Rank Fund Capital Flow
1
Bank of America
Bank of America
North Carolina
+$70.4M
2
WHGC
Wealth High Governance Capital
Brazil
+$40M
3
CRAM
Compass Rose Asset Management
New York
+$23.3M
4
Goldman Sachs
Goldman Sachs
New York
+$20.1M
5
Squarepoint
Squarepoint
New York
+$11.4M

Top Sellers

Rank Fund Capital Flow
1
Citadel Advisors
Citadel Advisors
Florida
-$65.1M
2
JFG
Jefferies Financial Group
New York
-$43.5M
3
Bank of Montreal
Bank of Montreal
Ontario, Canada
-$42.2M
4
N
Natixis
France
-$35.8M
5
Bank of Nova Scotia
Bank of Nova Scotia
Ontario, Canada
-$35.1M
Name Holding Trade Value Shares
Change 		Change in
Stake
ECM
76
Evergreen Capital Management
Washington
$366K -$2.33K -35 -0.6%
CAM
77
Cresset Asset Management
Illinois
$358K – – –
MFG
78
Menard Financial Group
Texas
$343K – – –
AAS
79
Ameritas Advisory Services
Nebraska
$341K -$14.5K -217 -4%
FFS
80
Founders Financial Securities
Maryland
$335K -$1.67K -25 -0.5%
Verition Fund Management
81
Verition Fund Management
Connecticut
$332K +$333K +5,000 New
BRWA
82
B. Riley Wealth Advisors
Florida
$330K +$6.6K +99 +2%
MTIM
83
Marathon Trading Investment Management
Pennsylvania
$306K +$6.87K +103 +2%
CF
84
Centaurus Financial
California
$293K +$143K +2,144 +94%
SMC
85
Smith, Moore & Co
Missouri
$277K – – –
WA
86
Waddell & Associates
Tennessee
$276K – – –
EA
87
Eudaimonia Advisors
Tennessee
$276K +$277K +4,150 New
Rockefeller Capital Management
88
Rockefeller Capital Management
New York
$274K +$33.3K +500 +14%
IWA
89
Intercontinental Wealth Advisors
Texas
$271K +$272K +4,077 New
BCM
90
Brookstone Capital Management
Illinois
$265K -$19.9K -298 -7%
FIA
91
FNY Investment Advisers
New York
$265K +$267K +4,000 New
FHA
92
Flagship Harbor Advisors
Massachusetts
$262K – – –
HT
93
Headlands Technologies
Illinois
$248K +$248K +3,726 New
VCWA
94
Vanguard Capital Wealth Advisors
Colorado
$239K +$13.3K +200 +6%
MPM
95
Meritage Portfolio Management
Kansas
$233K – – –
JC
96
JB Capital
Connecticut
$230K – – –
SAM
97
Secure Asset Management
Michigan
$228K – – –
Cetera Investment Advisers
98
Cetera Investment Advisers
Illinois
$227K +$2.27K +34 +1%
Thrivent Financial for Lutherans
99
Thrivent Financial for Lutherans
Minnesota
$224K +$15.7K +235 +7%
KA
100
Kovack Advisors
Florida
$223K +$224K +3,353 New
2 3
4
5 6

USO Hedge Fund Activity: Q1 2023 in Review

183 of the 6,275 institutional investors tracked by Wall St. Rank reported a position in United States Oil Fund (USO) for Q1 2023, worth a combined $541M — down 27% from $740M a quarter earlier.

Sellers outnumbered buyers: 33 funds closed out of USO and 22 opened new positions — a net loss of 11 holders — while 60 trimmed existing stakes and 37 added.

The largest buyer was Bank of America, adding an estimated $70.4M. The largest seller was Citadel Advisors, cutting an estimated $65.1M.

  • 183 institutional investors held United States Oil Fund (USO) as of Q1 2023, down from 200 in Q4 2022.
  • Funds reported $541M of United States Oil Fund stock for Q1 2023, down 27% quarter-over-quarter.
  • 22 funds opened new United States Oil Fund positions in Q1 2023 and 33 closed out, a net change of -11 holders.
  • The largest United States Oil Fund buyer in Q1 2023 was Bank of America, an estimated $70.4M added.
  • The largest United States Oil Fund seller in Q1 2023 was Citadel Advisors, an estimated $65.1M sold.

Based on aggregated 13F filings for Q1 2023.