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United States Oil Fund
USO

148 hedge funds and large institutions have $469M invested in United States Oil Fund in 2025 Q1 according to their latest regulatory filings, with 21 funds opening new positions, 31 increasing their positions, 45 reducing their positions, and 39 closing their positions.

New
Increased
Maintained
Reduced
Closed

42% more capital invested

Capital invested by funds: $331M → $469M (+$138M)

29% more call options, than puts

Call options by funds: $1.03B | Put options by funds: $796M

14.05% more ownership

Funds ownership: 31.57% → 45.63% (+14%)

13% less funds holding

Funds holding: 171 → 148 (-23)

31% less repeat investments, than reductions

Existing positions increased: 31 | Existing positions reduced: 45

46% less first-time investments, than exits

New positions opened: 21 | Existing positions closed: 39

Holders
148
Holders Change
-23
Holders Change %
-13.45%
% of All Funds
1.98%
Holding in Top 10
1
Holding in Top 10 Change
+1
Holding in Top 10 Change %
% of All Funds
0.01%
New
21
Increased
31
Reduced
45
Closed
39
Calls
$1.03B
Puts
$796M
Net Calls
+$232M
Net Calls Change
+$201M

Top Buyers

Rank Fund Capital Flow
1
Morgan Stanley
Morgan Stanley
New York
+$40.7M
2
Goldman Sachs
Goldman Sachs
New York
+$37.8M
3
JG
Jain Global
New York
+$31.6M
4
Jane Street
Jane Street
New York
+$28.8M
5
Susquehanna International Group
Susquehanna International Group
Pennsylvania
+$22.2M

Top Sellers

Rank Fund Capital Flow
1
Parallax Volatility Advisers
Parallax Volatility Advisers
California
-$24.4M
2
HF
HRT Financial
New York
-$10.6M
3
Citadel Advisors
Citadel Advisors
Florida
-$8.89M
4
QC
Quadrature Capital
United Kingdom
-$5.51M
5
JF
Jump Financial
Illinois
-$4.52M
Name Holding Trade Value Shares
Change 		Change in
Stake
HNB
126
Huntington National Bank
Ohio
$7.73K – – –
SS
127
Sunbelt Securities
Texas
$7.73K – – –
WAS
128
Winch Advisory Services
Wisconsin
$7.42K +$7.33K +96 New
EWA
129
EverSource Wealth Advisors
Alabama
$6.73K – – –
CA
130
Crewe Advisors
Utah
$5.8K – – –
IWM
131
Inlight Wealth Management
Georgia
$4.79K +$4.73K +62 New
SHF
132
Safe Harbor Fiduciary
Florida
$3.87K – – –
GC
133
Garde Capital
Washington
$3.87K +$3.82K +50 New
FFA
134
Farther Finance Advisors
California
$3.24K – – –
AIC
135
Archer Investment Corporation
Indiana
$3.09K – – –
RIL
136
Rothschild Investment LLC
Illinois
$2.86K +$458 +6 +19%
WAM
137
WFA Asset Management
Wisconsin
$2.76K – – –
MCM
138
MAI Capital Management
Ohio
$2.17K – – –
CCM
139
Chilton Capital Management
Texas
$1.93K +$1.91K +25 New
PA
140
Parallel Advisors
California
$1.31K – – –
WPA
141
West Paces Advisors
Georgia
$928 – – –
BA
142
Bellwether Advisors
Nebraska
$696 -$992 -13 -59%
TRCT
143
Tower Research Capital (TRC)
New York
$620 -$408K -5,347 -100%
LWMI
144
Legacy Wealth Management (Idaho)
Idaho
$387 – – –
GSWM
145
Golden State Wealth Management
California
$309 – – –
TWC
146
TD Waterhouse Canada
Ontario, Canada
$301 +$305 +4 New
FWA
147
FSC Wealth Advisors
New York
$252 +$7.63K +100 New
GPFA
148
Game Plan Financial Advisors
Ohio
$155 – – –
VWM
149
Vermillion Wealth Management
Minnesota
$77 +$76 +1 New
Parallax Volatility Advisers
150
Parallax Volatility Advisers
California
– -$24.4M -322,956 Closed
4 5
6
7 8

USO Hedge Fund Activity: Q1 2025 in Review

148 of the 7,459 institutional investors tracked by Wall St. Rank reported a position in United States Oil Fund (USO) for Q1 2025, worth a combined $469M — up 42% from $331M a quarter earlier.

Sellers outnumbered buyers: 39 funds closed out of USO and 21 opened new positions — a net loss of 18 holders — while 45 trimmed existing stakes and 31 added.

The largest buyer was Morgan Stanley, adding an estimated $40.7M. The largest seller was Parallax Volatility Advisers, exiting entirely with an estimated $24.4M sold.

  • 148 institutional investors held United States Oil Fund (USO) as of Q1 2025, down from 171 in Q4 2024.
  • Funds reported $469M of United States Oil Fund stock for Q1 2025, up 42% quarter-over-quarter.
  • 21 funds opened new United States Oil Fund positions in Q1 2025 and 39 closed out, a net change of -18 holders.
  • The largest United States Oil Fund buyer in Q1 2025 was Morgan Stanley, an estimated $40.7M added.
  • The largest United States Oil Fund seller in Q1 2025 was Parallax Volatility Advisers, an estimated $24.4M sold.

Based on aggregated 13F filings for Q1 2025.