Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

United Sts Brent Oil Fd LP (BNO)

69 + Investors. Track Smart Money conviction in BNO. See who's accumulating, reducing, or initiating positions.

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↑ +43
Streak
1Q ▲
Buyers last Q
89%

Smart Money Signals — BNO

Based on 70 hedge funds · latest filing: 2026 Q1 · updated quarterly

📈

Buying streak — 1 quarter in a row

last 6Q
For 1 consecutive quarter, more hedge funds added BNO than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.
🏔️

At the ownership peak (100% of max)

100% of all-time peak
70 hedge funds hold BNO right now — the highest count in 3.0 years. When ownership is this concentrated, any bad news can trigger a chain reaction: one big fund sells, others follow. This is a classic 'crowded trade' — high popularity doesn't equal safety.
🚀

Fast accumulation — +126% more funds vs a year ago

fund count last 6Q
+39 new funds entered over the past year (+126% YoY). That's a rapid rush of institutional money. Fast accumulation often signals a major thesis — but it also means the stock could fall quickly if that thesis breaks.
🟢

More buyers than sellers — 89% buying

62 buying8 selling
Last quarter: 62 funds were net buyers (47 opened a brand new position + 15 added to an existing one). Only 8 were sellers (4 trimmed + 4 sold completely). A clear majority buying is a strong confirmation signal.
📈

More new buyers each quarter (+42 vs last Q)

new funds entering per quarter
Funds opening a new BNO position: 7 → 6 → 5 → 47. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
📌

Mixed — 31% long-term, 49% new

■ 31% conviction (2yr+) ■ 20% medium ■ 49% new
Of the 70 current holders: 22 (31%) held >2 years, 14 held 1–2 years, and 34 entered in the last year. A mixed base — the stock has long-term believers but also recent buyers who haven't been tested by a downturn yet.
💰

Value +1107% but shares only +600% — price-driven

Value
+1107%
Shares
+600%
Last quarter: the total dollar value of institutional holdings rose +1107%, but actual share count only changed +600%. The gap is explained by the stock's price rising — not new buying. Strong value growth with weak share growth means the rally is price momentum, not fresh institutional demand.
🚀

Acceleration phase — new buyers rushing in

7 → 7 → 6 → 5 → 47 new funds/Q
New funds entering each quarter: 7 → 6 → 5 → 47. The pace of institutional discovery is accelerating sharply. This is the 'hot idea' phase — the thesis is being passed from fund to fund. You are not late — the accumulation wave is still building.
🏛️

Veteran-anchored — 48% veterans vs 44% newcomers

■ 48% veterans ■ 8% 1-2yr ■ 44% new
Entry-cohort mix of 77 holders: 37 (48%) are 2+ year veterans, 6 entered 1–2 years ago, and 34 (44%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
✅

Strong quality — 29% AUM from major funds

29% from top-100 AUM funds
8 of 63 holders rank in the top 100 by AUM, accounting for 29% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
5.4
out of 10
Moderate Exit Risk
Exit risk score 5.4/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.

Methodology note: these Smart Money cards use consecutive 13F disclosure snapshots, not trade-by-trade execution data. "Buying", "selling", "new holders", and "trimmed" refer to quarter-over-quarter changes in reported holders, aggregate shares, or disclosed position values between filings. They are useful for ownership regime analysis and crowding, but they do not imply exact trade timing on the filing date.

Institutional Sentiment Summary — BNO

In 2026 Q1, 62 hedge funds were net buyers of BNO (47 opened a new position, 15 added to an existing one), while 8 reduced or exited (4 trimmed, 4 sold completely) — a 89% buyer ratio, indicating clear institutional accumulation. 29% of total institutional value in BNO is held by top-100 AUM funds, reflecting strong institutional quality. Net fund flow last quarter: +43 funds (more new holders than closures). Total institutional holders: 70.

Hedge Fund Ownership: BNO

How many hedge funds hold BNO — quarterly history vs. share price
Quarterly hedge fund ownership of BNO vs. share price

Market Analysis: BNO

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: BNO

-- --

Institutional ownership data sourced from SEC EDGAR Form 13F-HR filings.

Is It Too Late to Buy United Sts Brent Oil Fd LP (BNO) Based on Hedge Fund 13F Filings?

Signal Freshness measures how much BNO has moved relative to its sector benchmark (SPY) since the 2026 Q1 13F filing. A stock that has barely outrun its sector is still a relatively fresh entry point — the fund's thesis has not yet been priced in by the broader market.

Since Quarter End March 31, 2026 · 79d ago
BNO
-16.4%
SPY
+13.9%

BNO outperformed SPY by -30.3% since March 31, 2026.

Since 13F Filing Date May 15, 2026 · 34d ago
BNO
-24.6%
SPY
+0.2%

Since the filing became public, BNO outperformed SPY by -24.8% .

Interpretation: The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference. Learn more →

Smart Money Signal ?
Limited Smart Money Interest

No strong consensus or elite conviction detected among institutional holders.

5 top-rated funds 1 high-conviction
Consensus
3.4
/ 10
breadth
×
Elite
1.2
/ 10
conviction
Hedge Fund Positioning: BNO
69 + Investors

Track Smart Money conviction in BNO. See who's accumulating, reducing, or initiating positions.

Metric All 13F Filers (2026 Q1) Prior (2025 Q4) Change
Funds Holding 69 27 155.56%
13F Shares 8M 1M 599.45%
Total Value $403M $33M 1105.8%
New Positions 46 5 +41
Increased Positions 15 10 +5
Closed Positions 4 8 -4
Reduced Positions 4 7 -3
Total Calls 9 3 200.0%
Total Puts 4 2 100.0%
PUT/CALL Ratio 0.44 0.67 Bullish

Statistics: BNO

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Short % of Float --

Financial Highlights

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Institutional Holders (2026 Q1)

69 + investors

Explore institutional interest and hedge fund ownership dynamics. Analyze portfolio weights, new positions, and conviction trends in BNO. Verified SEC 13F-HR filings.

QUARTER:
Top 25 BNO holders by conviction (% of portfolio weight) — 2026 Q1 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 Newbrook Capital Advisors LP 3.96% 426,396 $22.2M
2 WESPAC Advisors, LLC 0.78% 27,247 $1.4M
3 Harvest Fund Management Co., Ltd 0.75% 337,192 $17.5M
4 Evergreen Quality Fund GP, Ltd. 0.61% 513,197 $26.7M
5 E Fund Management Co., Ltd. 0.45% 293,412 $15.3M
6 Avondale Wealth Management 0.40% 15,502 $806K
7 Orcam Financial Group 0.28% 7,545 $392K
8 Birnam Oak Advisors, LP 0.26% 22,000 $1.1M
9 CVS HEALTH Corp 0.25% 10,000 $520K
10 Ignite Planners, LLC 0.18% 22,223 $1.2M
11 Jump Financial, LLC 0.18% 255,325 $13.3M
12 Waratah Capital Advisors Ltd. 0.16% 79,322 $4.1M
13 B. Riley Wealth Advisors, Inc. 0.15% 43,053 $2.3M
14 Two Sigma Securities, LLC 0.11% 18,999 $988K
15 Oxinas Partners, LLC 0.11% 4,450 $231K
16 Quadrature Capital Ltd 0.10% 154,086 $8.0M
17 Lombard Odier Asset Management (USA) Corp 0.09% 16,413 $854K
18 Armstrong Advisory Group, Inc 0.06% 16,049 $835K
19 Quarry LP 0.05% 5,700 $296K
20 Headlands Technologies LLC 0.05% 8,157 $424K
21 Maven Securities LTD 0.04% 38,900 $2.0M
22 Verus Capital Partners, LLC 0.04% 10,000 $520K
23 Group One Trading LLC 0.02% 241,035 $12.5M
24 Security National Bank 0.02% 2,620 $136K
25 Empowered Funds, LLC 0.02% 55,211 $2.9M
Investor Ownership
History 		% of Portfolio Prev % Rank Conviction Avg Buy Price 13F Score™ 3Y / 7Y Sell Timing Shares Mkt Value Change Change % Source Quarter Filed

Frequently Asked Questions — United Sts Brent Oil Fd LP (BNO)

What does the Smart Money Trend signal show for BNO?

Buying streak — 1 quarter in a row: For 1 consecutive quarter, more hedge funds added BNO than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.

What is the institutional breadth score for BNO?

More buyers than sellers — 89% buying: Last quarter: 62 funds were net buyers (47 opened a brand new position + 15 added to an existing one). Only 8 were sellers (4 trimmed + 4 sold completely). A clear majority buying is a strong confirmation signal.

What is the fund quality score for BNO holders?

Strong quality — 29% AUM from major funds: 8 of 63 holders rank in the top 100 by AUM, accounting for 29% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.

How long have hedge funds held BNO?

Mixed — 31% long-term, 49% new: Of the 70 current holders: 22 (31%) held >2 years, 14 held 1–2 years, and 34 entered in the last year. A mixed base — the stock has long-term believers but also recent buyers who haven't been tested by a downturn yet.

Is it too late to buy United Sts Brent Oil Fd LP (BNO) following the 2026 Q1 hedge fund 13F filings?

As of today, BNO has moved -24.6% since the 2026 Q1 13F filing date (May 15, 2026), compared to +0.2% for the SPY sector ETF — an outperformance of -24.8%. Since the quarter end (March 31, 2026), BNO has gained -16.4% vs +13.9% for SPY. The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference.

Where does this institutional ownership data come from?

All holdings data is sourced from SEC Form 13F filings, which institutional investment managers with over $100 million in assets are required to submit quarterly. Data is parsed directly from SEC EDGAR.

Disclaimer: The information on this page is for informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any security. Institutional holdings data is sourced from SEC Form 13F filings and reflects positions as of the filing date. Past performance of any fund or portfolio is not indicative of future results. 13Foresight is not a registered investment adviser. Always conduct your own due diligence before making investment decisions.

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