United States Oil Fund
190 hedge funds and large institutions have $1.89B invested in United States Oil Fund in 2026 Q1 according to their latest regulatory filings, with 83 funds opening new positions, 43 increasing their positions, 29 reducing their positions, and 28 closing their positions.
728% more capital invested
Capital invested by funds: $229M → $1.89B (+$1.67B)
196% more first-time investments, than exits
New positions opened: 83 | Existing positions closed: 28
100% more funds holding in top 10
Funds holding in top 10: 1 → 2 (+1)
58.89% more ownership
Funds ownership: 24.04% → 82.93% (+59%)
48% more repeat investments, than reductions
Existing positions increased: 43 | Existing positions reduced: 29
36% more funds holding
Funds holding: 140 → 190 (+50)
2% less call options, than puts
Call options by funds: $5.93B | Put options by funds: $6.06B
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Goldman Sachs
New York
|
+$458M |
| 2 |
Morgan Stanley
New York
|
+$165M |
| 3 |
BHCM
Brevan Howard Capital Management
St. Helier,
Jersey
|
+$124M |
| 4 |
Jane Street
New York
|
+$91.2M |
| 5 |
Citadel Advisors
Miami,
Florida
|
+$52.3M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
HFM
Harvest Fund Management
Beijing,
China
|
-$6.9M |
| 2 |
CM
Caption Management
Oklahoma City,
Oklahoma
|
-$5.2M |
| 3 |
SB
SIG Brokerage
New York
|
-$2.54M |
| 4 |
IAP
Indie Asset Partners
Carmel,
Indiana
|
-$2.45M |
| 5 |
HT
Headlands Technologies
Chicago,
Illinois
|
-$1.81M |
USO Hedge Fund Activity: Q1 2026 in Review
190 of the 8,187 institutional investors tracked by Wall St. Rank reported a position in United States Oil Fund (USO) for Q1 2026, worth a combined $1.89B — up 728% from $229M a quarter earlier.
Buyers outnumbered sellers: 83 funds opened new USO positions and 28 closed out — a net gain of 55 holders — while 43 added to existing stakes and 29 trimmed.
The largest buyer was Goldman Sachs, adding an estimated $458M. The largest seller was Harvest Fund Management, cutting an estimated $6.9M.
- 190 institutional investors held United States Oil Fund (USO) as of Q1 2026, up from 140 in Q4 2025.
- Funds reported $1.89B of United States Oil Fund stock for Q1 2026, up 728% quarter-over-quarter.
- 83 funds opened new United States Oil Fund positions in Q1 2026 and 28 closed out, a net change of +55 holders.
- The largest United States Oil Fund buyer in Q1 2026 was Goldman Sachs, an estimated $458M added.
- The largest United States Oil Fund seller in Q1 2026 was Harvest Fund Management, an estimated $6.9M sold.
Based on aggregated 13F filings for Q1 2026.