United States Oil Fund, LP(USO)Stock Analysis
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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.
USO Stock Analysis & AI Quality Score
AI stock analysis and institutional research for United States Oil Fund, LP (USO), a Financials sector company. USO 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 Oil Fund, LP reports quarterly revenue of $986.4M, net income of $983.7M, an operating margin of 99.7%. Top institutional holders of USO by reported 13-F value include SUSQUEHANNA INTERNATIONAL GROUP, LLP, SUSQUEHANNA INTERNATIONAL GROUP, LLP, CITADEL ADVISORS, based on the most recent SEC filings. USO trades on the NYSE exchange and files with the SEC under CIK 1327068. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate USO 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 Oil Fund, LP directly from SEC EDGAR.
Revenue
Q1 2026
$986.4M
Net Income
Q1 2026
$983.7M
Free Cash Flow
Q1 2026
$631.8M
Operating Margin
Q1 2026
99.7%
Revenue & Net Income
Earnings Per Share
Key Financials Over Time
Export Financial Table · Pro+Revenue
-124.2% YoYNet Income
-129.2% YoYTotal Assets
-19.1% YoYOp. Cash Flow
-112.4% YoY| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|
| Revenue | $-56.2M -124.2% | $231.9M +764.5% | $-34.9M -104.4% | $800.7M +142.7% | $-1.88B -487.1% | $484.8M |
| Net Income | $-64.7M -129.2% | $221.1M +580.2% | $-46.0M -105.9% | $785.2M +141.2% | $-1.91B -502.4% | $473.5M |
| Total Assets | $889.6M -19.1% | $1.10B -30.7% | $1.59B -20.0% | $1.98B -46.6% | $3.71B +205.8% | $1.21B |
| Operating Cash Flow | $-21.9M -112.4% | $175.7M +1474.2% | $-12.8M -101.5% | $871.9M +138.7% | $-2.25B -999.4% | $250.6M |
AI Insight: USO Financial Trends
USO swung to a $984M net income in Q1 2026, a dramatic reversal after four consecutive loss-making quarters.
• Q1 2026 revenue surged to $986M from $26M in Q3 2025, with net income of $984M versus $-55M in Q4 2025.
• Operating cash flow turned sharply positive at $632M in Q1 2026, recovering from $-50M outflow in Q4 2025.
• Four of the prior eight quarters (Q3 2024, Q2 2025, Q4 2025) posted negative net income; volatility remains pronounced.
⚠ Earnings momentum unclear: dramatic Q1 2026 swing may reflect mark-to-market revaluation rather than sustainable operations.
⚠ Operating cash flow deteriorated in Q3 2025 and Q4 2025 despite periods of positive revenue; cash generation stability questionable.
AI Insight: USO Ratio Trends
USO's profitability swings wildly with oil price volatility; Q1 2026 net margin near 100% masks severe asset-return deterioration.
• Net profit margin stabilized near 99.7% in Q1 2026, up from 91.8% in Q3 2025, reflecting tight commodity fund economics.
• ROA remains deeply negative (TTM: 32.0% masks quarterly volatility from -38.2% in Q3 2024 to -24.9% in Q4 2025).
⚠ Quarterly ROA oscillates violently between +35.1% (Q4 2024) and -38.2% (Q3 2024), signaling extreme exposure to oil price swings.
⚠ Q1 2026 ROA data missing; consecutive negative ROA quarters (Q2/Q4 2025) suggest persistent asset value compression risk.
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Available Research
13F Pro tracks comprehensive data for United States Oil Fund, LP including:
Top Institutional Holders of USO
SUSQUEHANNA INTERNATIONAL GROUP, LLP
$2.1B16,493,900 shSUSQUEHANNA INTERNATIONAL GROUP, LLP
$1.5B11,610,500 shCITADEL ADVISORS LLC
$1.3B10,597,400 shJANE STREET GROUP, LLC
$1.1B9,028,800 shCITADEL ADVISORS LLC
$984.5M7,736,800 shGOLDMAN SACHS GROUP INC
$814.8M6,403,427 shJANE STREET GROUP, LLC
$631.6M4,963,500 shGOLDMAN SACHS GROUP INC
$435.7M3,423,700 shMORGAN STANLEY
$280.7M2,205,581 shCITIGROUP INC
$254.5M2,000,000 sh
| Fund | Value | Shares |
|---|---|---|
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $2.1B | 16,493,900 |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $1.5B | 11,610,500 |
| CITADEL ADVISORS LLC | $1.3B | 10,597,400 |
| JANE STREET GROUP, LLC | $1.1B | 9,028,800 |
| CITADEL ADVISORS LLC | $984.5M | 7,736,800 |
| GOLDMAN SACHS GROUP INC | $814.8M | 6,403,427 |
| JANE STREET GROUP, LLC | $631.6M | 4,963,500 |
| GOLDMAN SACHS GROUP INC | $435.7M | 3,423,700 |
| MORGAN STANLEY | $280.7M | 2,205,581 |
| CITIGROUP INC | $254.5M | 2,000,000 |
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Popular Research
Is USO a good stock to buy?
13F Pro's AI-powered analysis of United States Oil Fund, LP (USO) 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 USO are available on the USO 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 USO?
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 USO. 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 Oil Fund, LP's investment landscape.