United States 12 Month Oil Fund, LP (USL)

Accumulating

Strong institutional accumulation: ownership increased +7.69% quarter-over-quarter.

Data as of Q1 2026

Institutional Ownership

27.61%

QoQ Change

+7.69%

Total Value

$12.3B

Shares Outstanding

1.1M

Crowding AnalysisCrowded

Holders21of 5,944

Avg: 68

Uncrowded75th percentileCrowded

Institutional Activity

Buy/Sell Ratio1.43x

46th percentile

10 buying7 selling

New

-1

Closed

+88K

Net shares

Holding Period Distribution

estimate

Median: 3 QAvg: 3.5 QHolders: 21

Ownership Concentration

Top 5: 72.0%Top 10: 91.1%

SUSQUEHANNA INTERNATIONAL GROUP, LLP19.0%

LPL Financial17.8%

Virtu Financial16.8%

Mirae Asset Global Investments Co.,9.7%

JANE STREET GROUP,8.7%

Others (16)28.0%

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Conviction-Weighted Ownership

Median weight: 0.00%Avg weight: 0.02%Max: 0.11%High conviction (>1%): 0

SUSQUEHANNA INTERNATIONAL GROUP, LLP

LPL Financial

Virtu Financial

Mirae Asset Global Investments Co.,

JANE STREET GROUP,

CITADEL ADVISORS

Balentine

Clarkston Capital Partners,

FLOW TRADERS U.S.

Cetera Investment Advisers

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Whale Moves Timeline (8 Quarters)

Biggest dollar-value position changes among top 10 holders

NEWLPL Financial$3M57K shr

NEWJANE STREET GROUP$1M28K shr

NEWCITADEL ADVISORS$853K18K shr

SOLDSUSQUEHANNA INTERNATIONAL GROUP, LLP$393K8K shr

SOLDMirae Asset Global Investments Co.$111K2K shr

NEWVirtu Financial$2M46K shr

SOLDSUSQUEHANNA INTERNATIONAL GROUP, LLP$175K5K shr

NEWRoxbury Financial$127K4K shr

SOLDCetera Investment Advisers$42K1K shr

SOLDOSAIC HOLDINGS$38K1K shr

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Institutional Trends (8 Quarters)

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Institutional Holders

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