United States Oil Fund
172 hedge funds and large institutions have $1.79B invested in United States Oil Fund in 2026 Q2 according to their latest regulatory filings, with 46 funds opening new positions, 45 increasing their positions, 52 reducing their positions, and 60 closing their positions.
14.85% more ownership
Funds ownership: 82.93% → 97.78% (+15%)
2% less call options, than puts
Call options by funds: $4.96B | Put options by funds: $5.06B
5% less capital invested
Capital invested by funds: $1.89B → $1.79B (-$102M)
9% less funds holding
Funds holding: 190 → 172 (-18)
13% less repeat investments, than reductions
Existing positions increased: 45 | Existing positions reduced: 52
23% less first-time investments, than exits
New positions opened: 46 | Existing positions closed: 60
50% less funds holding in top 10
Funds holding in top 10: 2 → 1 (-1)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Morgan Stanley
New York
|
+$160M |
| 2 |
Healthcare of Ontario Pension Plan (HOOPP) Trust Fund
Toronto,
Ontario, Canada
|
+$144M |
| 3 |
HF
HRT Financial
New York
|
+$63.5M |
| 4 |
CIBC World Market
Toronto,
Ontario, Canada
|
+$52.5M |
| 5 |
UBS Group
Zurich,
Switzerland
|
+$49.6M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
BHCM
Brevan Howard Capital Management
St. Helier,
Jersey
|
-$183M |
| 2 |
Jane Street
New York
|
-$142M |
| 3 |
Citadel Advisors
Miami,
Florida
|
-$76.8M |
| 4 |
Barclays
London,
United Kingdom
|
-$42M |
| 5 |
CBU
CIBC Bancorp USA
Chicago,
Illinois
|
-$28.7M |
USO Hedge Fund Activity: Q2 2026 in Review
172 of the 8,305 institutional investors tracked by Wall St. Rank reported a position in United States Oil Fund (USO) for Q2 2026, worth a combined $1.79B — down 5.4% from $1.89B a quarter earlier.
Sellers outnumbered buyers: 60 funds closed out of USO and 46 opened new positions — a net loss of 14 holders — while 52 trimmed existing stakes and 45 added.
The largest buyer was Morgan Stanley, adding an estimated $160M. The largest seller was Brevan Howard Capital Management, exiting entirely with an estimated $183M sold.
- 172 institutional investors held United States Oil Fund (USO) as of Q2 2026, down from 190 in Q1 2026.
- Funds reported $1.79B of United States Oil Fund stock for Q2 2026, down 5.4% quarter-over-quarter.
- 46 funds opened new United States Oil Fund positions in Q2 2026 and 60 closed out, a net change of -14 holders.
- The largest United States Oil Fund buyer in Q2 2026 was Morgan Stanley, an estimated $160M added.
- The largest United States Oil Fund seller in Q2 2026 was Brevan Howard Capital Management, an estimated $183M sold.
Based on aggregated 13F filings for Q2 2026.