United States Brent Oil Fund, LP(BNO)Stock Analysis
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Pending next ranking run
This company passes all size and coverage filters but hasn't been included in the latest quarterly ranking run. Rankings refresh on Jan 1, Apr 1, Jul 1, Oct 1.
Financial data, filings, and institutional holdings below are still tracked in full — only the proprietary quality composite is unavailable for this name.
BNO Stock Analysis & AI Quality Score
AI stock analysis and institutional research for United States Brent Oil Fund, LP (BNO), a Financials sector company. BNO is not currently included in 13F Pro's AI-ranked quality universe — this company passes all size and coverage filters but hasn't been included in the latest quarterly ranking run. rankings refresh on jan 1, apr 1, jul 1, oct 1. Based on the latest XBRL financial filings (Q1 2026), United States Brent Oil Fund, LP reports quarterly revenue of $1.1M, net income of $166.4M, free cash flow of $165.4M. Top institutional holders of BNO by reported 13-F value include SUSQUEHANNA INTERNATIONAL GROUP, LLP, CITADEL ADVISORS, Evergreen Quality Fund GP, Ltd., based on the most recent SEC filings. BNO trades on the NYSE exchange and files with the SEC under CIK 1472494. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate BNO daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for United States Brent Oil Fund, LP directly from SEC EDGAR.
Revenue
Q1 2026
$1.1M
Net Income
Q1 2026
$166.4M
Free Cash Flow
Q1 2026
$165.4M
Revenue & Net Income
Earnings Per Share
Key Financials Over Time
Export Financial Table · Pro+Net Income
-138.6% YoYTotal Assets
-12.3% YoYOp. Cash Flow
-153.1% YoY| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Net Income | $-4.1M -138.6% | $10.6M +359.0% | $-4.1M -105.0% | $82.6M -47.6% | $157.5M +32.2% | $119.1M |
| Total Assets | $100.7M -12.3% | $114.9M -11.9% | $130.4M -44.6% | $235.1M +3.6% | $227.0M -35.2% | $350.2M |
| Operating Cash Flow | $-3.7M -153.1% | $7.0M -42.0% | $12.1M -85.5% | $83.6M -41.7% | $143.6M +22.1% | $117.6M |
AI Insight: BNO Financial Trends
BNO's net income surged to $166M in Q1 2026, a dramatic reversal from persistent volatility and recent losses.
• Net income jumped from -$5M in Q4 2025 to $166M in Q1 2026, the largest quarterly profit in the dataset.
• Operating cash flow turned strongly positive at $165M in Q1 2026 after negative $9M in Q4 2025.
• Prior seven quarters showed extreme earnings volatility, swinging from $22M loss to $12M gain repeatedly.
⚠ Q1 2026's exceptional $166M result may reflect oil price movements rather than sustainable operational improvement.
⚠ Historical pattern shows earnings reversals every 1-2 quarters, suggesting current strength may not persist.
AI Insight: BNO Ratio Trends
BNO's ROA exhibits extreme volatility, swinging from -41.5% in Q3 2024 to 69.9% in Q1 2026 with no clear trend pattern.
• ROA spiked to 69.9% in Q1 2026, the highest level across all quarters shown.
• ROA volatility remains extreme, ranging from -41.5% to 69.9% across the nine-quarter period.
⚠ TTM ROA of 16.5% significantly trails Q1 2026's 69.9%, suggesting potential one-time gains.
⚠ Data lacks operating margins, profit margins, and leverage metrics to assess underlying business quality.
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Available Research
13F Pro tracks comprehensive data for United States Brent Oil Fund, LP including:
Top Institutional Holders of BNO
SUSQUEHANNA INTERNATIONAL GROUP, LLP
$70.4M1,353,000 shCITADEL ADVISORS LLC
$32.4M622,100 shEvergreen Quality Fund GP, Ltd.
$26.7M513,197 shJANE STREET GROUP, LLC
$25.5M489,967 shNewbrook Capital Advisors LP
$22.2M426,396 shIMC-Chicago, LLC
$21.5M412,754 shCITADEL ADVISORS LLC
$20.4M392,387 shCITADEL ADVISORS LLC
$16.5M318,100 shSUSQUEHANNA INTERNATIONAL GROUP, LLP
$15.6M300,700 shE Fund Management Co., Ltd.
$15.3M293,412 sh
| Fund | Value | Shares |
|---|---|---|
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $70.4M | 1,353,000 |
| CITADEL ADVISORS LLC | $32.4M | 622,100 |
| Evergreen Quality Fund GP, Ltd. | $26.7M | 513,197 |
| JANE STREET GROUP, LLC | $25.5M | 489,967 |
| Newbrook Capital Advisors LP | $22.2M | 426,396 |
| IMC-Chicago, LLC | $21.5M | 412,754 |
| CITADEL ADVISORS LLC | $20.4M | 392,387 |
| CITADEL ADVISORS LLC | $16.5M | 318,100 |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $15.6M | 300,700 |
| E Fund Management Co., Ltd. | $15.3M | 293,412 |
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Popular Research
Is BNO a good stock to buy?
13F Pro's AI-powered analysis of United States Brent Oil Fund, LP (BNO) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Financials sector (listed on NYSE). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for BNO are available on the BNO stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing.
Which hedge funds own BNO?
Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling BNO. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of United States Brent Oil Fund, LP's investment landscape.