Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

United Sts Brent Oil Fd LP (BNO)

56 + 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
↓ -7
Streak
1Q ▼
Buyers last Q
43%

Smart Money Signals — BNO

Based on 63 hedge funds · latest filing: 2026 Q2 · updated quarterly

📉

Selling streak — 1 quarter in a row

last 6Q
For 1 consecutive quarter, more hedge funds reduced or closed their BNO positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
📊

High ownership — 90% of 3.0Y peak

90% of all-time peak
63 funds currently hold this stock — 90% of the 3.0-year high of 70 funds (reached 2026 Q1). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
🚀

Fast accumulation — +103% more funds vs a year ago

fund count last 6Q
+32 new funds entered over the past year (+103% 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 sellers than buyers — 43% buying

43 buying58 selling
Last quarter: 58 funds reduced or exited vs 43 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.
⚠️

Fewer new buyers each quarter (-17 vs last Q)

new funds entering per quarter
Funds opening this position for the first time: 6 → 5 → 47 → 30. Each quarter fewer new institutions are entering. This usually means most funds that wanted in are already in — the stock is well-known but the pool of potential new buyers is shrinking.
📌

Mixed — 38% long-term, 46% new

■ 38% conviction (2yr+) ■ 16% medium ■ 46% new
Of the 63 current holders: 24 (38%) held >2 years, 10 held 1–2 years, and 29 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.
💎

Buying through price weakness — shares +18%, value -3%

Value
-2%
Shares
+18%
Last quarter: funds added +18% more shares while total portfolio value only changed -3%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
🚀

Acceleration phase — new buyers rushing in

7 → 6 → 5 → 47 → 30 new funds/Q
New funds entering each quarter: 6 → 5 → 47 → 30. 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 — 55% veterans vs 38% newcomers

■ 55% veterans ■ 7% 1-2yr ■ 38% new
Entry-cohort mix of 74 holders: 41 (55%) are 2+ year veterans, 5 entered 1–2 years ago, and 28 (38%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
✅

Strong quality — 27% AUM from major funds

27% from top-100 AUM funds
10 of 56 holders rank in the top 100 by AUM, accounting for 27% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
6.0
out of 10
Moderate Exit Risk
Exit risk score 6.0/10 — 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 Q2, 43 hedge funds were net buyers of BNO (30 opened a new position, 13 added to an existing one), while 58 reduced or exited (21 trimmed, 37 sold completely) — a 43% buyer ratio, indicating roughly balanced activity. 27% of total institutional value in BNO is held by top-100 AUM funds, reflecting strong institutional quality. Net fund flow last quarter: -7 funds (more exits than new entries). Total institutional holders: 63.

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.

Loading signal freshness…
Smart Money Signal ?
Limited Smart Money Interest

No strong consensus or elite conviction detected among institutional holders.

1 top-rated funds 0 high-conviction
Consensus
1.3
/ 10
breadth
×
Elite
0.4
/ 10
conviction
Hedge Fund Positioning: BNO
56 + Investors

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

Metric All 13F Filers (2026 Q2) Prior (2026 Q1) Change
Funds Holding 56 70 -20.0%
13F Shares 10M 8M 18.49%
Total Value $393M $403M -2.61%
New Positions 30 47 -17
Increased Positions 11 15 -4
Closed Positions 37 4 +33
Reduced Positions 20 4 +16
Total Calls 14 9 55.56%
Total Puts 4 5 -20.0%
PUT/CALL Ratio 0.29 0.56 Bullish

Statistics: BNO

View More

Valuation Measures Data as of: --

Market Cap --
Enterprise Value --
Trailing P/E --
Forward P/E --
PEG Ratio (5yr expected) --
Price/Sales (ttm) --
Price/Book (mrq) --
Enterprise Value/Revenue --
Enterprise Value/EBITDA --
Beta (5Y Monthly) --
Short Ratio (Days to Cover) --
Short % of Float --

Financial Highlights

Profitability
Profit Margin --
Return on Assets (ttm) --
Return on Equity (ttm) --
Income Statement & Cash Flow
Revenue (ttm) --
Net Income Avi to Common (ttm) --
Diluted EPS (ttm) --
Total Cash (mrq) --
Total Debt/Equity (mrq) --
Levered Free Cash Flow (ttm) --

Institutional Holders (2026 Q2)

56 + 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 Q2 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 Plustick Management LLC 6.81% 450,000 $18.3M
2 Mountain Lake Investment Management LLC 2.44% 96,318 $3.9M
3 Arrington Capital Management, LLC 2.13% 85,100 $3.5M
4 Harvest Fund Management Co., Ltd 1.07% 796,130 $32.4M
5 Carronade Capital Management, LP 0.95% 1,350,365 $54.9M
6 E Fund Management Co., Ltd. 0.27% 293,412 $11.9M
7 Avondale Wealth Management 0.25% 15,040 $612K
8 Shay Capital LLC 0.17% 66,000 $2.7M
9 Easterly Investment Partners LLC 0.14% 70,000 $2.8M
10 Ignite Planners, LLC 0.12% 21,365 $872K
11 Quadrature Capital Ltd 0.10% 276,844 $11.3M
12 Collaborative Wealth Managment Inc. 0.09% 5,558 $226K
13 Cascade Financial Partners, LLC 0.08% 22,000 $895K
14 Security National Bank 0.07% 14,515 $591K
15 Two Sigma Securities, LLC 0.07% 18,982 $772K
16 Prelude Capital Management, LLC 0.06% 20,000 $814K
17 Bay Colony Advisory Group, Inc d/b/a Bay Colony Advisors 0.05% 11,213 $456K
18 Chemistry Wealth Management LLC 0.04% 6,305 $257K
19 K2 Principal Fund, L.P. 0.03% 10,000 $407K
20 Collaborative Wealth Managment Inc. 0.03% 1,700 $69K
21 Keebeck Wealth Management 0.03% 6,300 $256K
22 StoneX Group Inc. 0.02% 10,214 $540K
23 LMR Partners LLP 0.01% 87,000 $3.5M
24 Jump Financial, LLC 0.01% 29,401 $915K
25 CIBC Bancorp USA Inc. 0.01% 225,000 $9.2M
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?

Selling streak — 1 quarter in a row: For 1 consecutive quarter, more hedge funds reduced or closed their BNO positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.

What is the institutional breadth score for BNO?

More sellers than buyers — 43% buying: Last quarter: 58 funds reduced or exited vs 43 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.

What is the fund quality score for BNO holders?

Strong quality — 27% AUM from major funds: 10 of 56 holders rank in the top 100 by AUM, accounting for 27% 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 — 38% long-term, 46% new: Of the 63 current holders: 24 (38%) held >2 years, 10 held 1–2 years, and 29 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.

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.

Full history →