United States Oil Fund
146 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, 28 increasing their positions, 46 reducing their positions, and 27 closing their positions.
5.49% more ownership
Funds ownership: 36.47% → 41.96% (+5.5%)
4% less call options, than puts
Call options by funds: $1.1B | Put options by funds: $1.14B
3% less funds holding
Funds holding: 151 → 146 (-5)
15% less first-time investments, than exits
New positions opened: 23 | Existing positions closed: 27
39% less repeat investments, than reductions
Existing positions increased: 28 | Existing positions reduced: 46
46% less capital inflows, than outflows
Capital inflows: $72.1M | Capital outflows: $133M
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Morgan Stanley
New York
|
+$16.1M |
| 2 |
UBS Group
Zurich,
Switzerland
|
+$12.6M |
| 3 |
Jane Street
New York
|
+$11.7M |
| 4 |
Hartree Partners
New York
|
+$9.38M |
| 5 |
Simplex Trading
Chicago,
Illinois
|
+$4.95M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
IMC Chicago
Chicago,
Illinois
|
-$24.3M |
| 2 |
Citadel Advisors
Miami,
Florida
|
-$19.5M |
| 3 |
Quadrature Capital
London,
United Kingdom
|
-$17M |
| 4 |
Goldman Sachs
New York
|
-$13.3M |
| 5 |
Citigroup
New York
|
-$12.5M |
USO Hedge Fund Activity: Q3 2025 in Review
146 of the 7,661 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: 27 funds closed out of USO and 23 opened new positions — a net loss of 4 holders — while 46 trimmed existing stakes and 28 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.
- 146 institutional investors held United States Oil Fund (USO) as of Q3 2025, down from 151 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 27 closed out, a net change of -4 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.