United States Oil Fund
140 hedge funds and large institutions have $229M invested in United States Oil Fund in 2025 Q4 according to their latest regulatory filings, with 28 funds opening new positions, 24 increasing their positions, 39 reducing their positions, and 28 closing their positions.
1% more call options, than puts
Call options by funds: $809M | Put options by funds: $801M
0% more funds holding in top 10
Funds holding in top 10: 1 → 1 (0)
0% more first-time investments, than exits
New positions opened: 28 | Existing positions closed: 28
3% less funds holding
Funds holding: 144 → 140 (-4)
17.92% less ownership
Funds ownership: 41.96% → 24.04% (-18%)
38% less repeat investments, than reductions
Existing positions increased: 24 | Existing positions reduced: 39
40% less capital invested
Capital invested by funds: $385M → $229M (-$156M)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Barclays
London,
United Kingdom
|
+$11.1M |
| 2 |
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
|
+$5.49M |
| 3 |
CM
Caption Management
Oklahoma City,
Oklahoma
|
+$5.3M |
| 4 |
HFM
Harvest Fund Management
Beijing,
China
|
+$4.27M |
| 5 |
IAP
Indie Asset Partners
Carmel,
Indiana
|
+$2.15M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Morgan Stanley
New York
|
-$74.3M |
| 2 |
Jane Street
New York
|
-$21.8M |
| 3 |
UBS Group
Zurich,
Switzerland
|
-$19.4M |
| 4 |
Goldman Sachs
New York
|
-$13.6M |
| 5 |
HP
Hartree Partners
New York
|
-$9.22M |
USO Hedge Fund Activity: Q4 2025 in Review
140 of the 8,267 institutional investors tracked by Wall St. Rank reported a position in United States Oil Fund (USO) for Q4 2025, worth a combined $229M — down 40% from $385M a quarter earlier.
Fund positioning in USO was balanced in Q4 2025: 28 funds opened new positions, 28 closed out, 24 added to existing stakes and 39 trimmed.
The largest buyer was Barclays, adding an estimated $11.1M. The largest seller was Morgan Stanley, cutting an estimated $74.3M.
- 140 institutional investors held United States Oil Fund (USO) as of Q4 2025, down from 144 in Q3 2025.
- Funds reported $229M of United States Oil Fund stock for Q4 2025, down 40% quarter-over-quarter.
- 28 funds opened new United States Oil Fund positions in Q4 2025 and 28 closed out, a net change of 0 holders.
- The largest United States Oil Fund buyer in Q4 2025 was Barclays, an estimated $11.1M added.
- The largest United States Oil Fund seller in Q4 2025 was Morgan Stanley, an estimated $74.3M sold.
Based on aggregated 13F filings for Q4 2025.