United States Oil Fund, LP
For the period ended Dec 31, 2025. Filed Feb 27, 2026.
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FY2025 · Filed Feb 27, 2026
USO$141.45-0.8%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Schedules of Investments at December 31, 2025 and 2024
Schedule of Investments
At December 31, 2025
| · · · · · · · · · · | ||||||
|---|---|---|---|---|---|---|
| · · · · · · · Fair · · | ||||||
| · · · · · · · Value/Unrealized · · | ||||||
| · · · · · · · Gain (Loss) on · · | ||||||
| · · · · · · · Open · · | ||||||
| · · · · · Number of · · Commodity · · % of Partners’ | ||||||
| · · Notional Amount · · Contracts · · Contracts · · Capital | ||||||
| Open Commodity Futures Contracts - Long · · · · · · · · · · | ||||||
| United States Contracts · · · · · · · · · · | ||||||
| NYMEX WTI Crude Oil Futures CL February 2026 contracts, expiring January 2026* | | $764,706,290 | 13,180 | | $(7,910,690) | (0.89) |
| · · · · · · · | ||||
|---|---|---|---|---|
| · · Shares/Principal · · · · · % of Partners’ | ||||
| · · Amount · · Market Value · · Capital | ||||
| Cash Equivalents · · · · · · · | ||||
| United States Money Market Funds · · · · · · · | ||||
| Dreyfus Institutional Preferred Government Money Market Fund - Institutional Shares, 3.71%# | 340,000,000 | | $340,000,000 | 38.37 |
| Morgan Stanley Institutional Liquidity Funds - Government Portfolio - Institutional Shares, 3.69%# | 260,000,000 | | 260,000,000 | 29.34 |
| Total United States Money Market Funds | | | $600,000,000 | 67.71 |
Open OTC Commodity Swap Contracts
| · · · · · · · · · · · · · · · · · · · | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| · · · · · · · · · · · · · · · · · · Unrealized | |||||||||||
| · · · · · · · · · · · · · Fair · · · · Gain (Loss) | |||||||||||
| · · · · · · · · · · · · · Value/Open · · · · on | |||||||||||
| Fund Receives · · · · · · · · · · · · · Commodity · · Upfront · · Commodity | |||||||||||
| from · · Fund Pays · · · · Payment · · · · Notional · Swap · · Payments/(Premiums · Swap | |||||||||||
| Counterparty · · Counterparty · · Counterparty · · Frequency · · Expiration Date · · Amount · · Contracts · · Received) · · Contracts(a) | |||||||||||
| MACQUARIE MQCP361E 07212025Index(b) | 0.26% | Macquarie Bank Ltd. | monthly | 01/21/2026 | | $67,552,633 | | $67,552,151 | — | | $(482) |
| SOC GEN SGIXCWTI 12182025Index(b) | 0.25% | Societe Generale | monthly | 06/18/2026 | | $60,833,138 | | $61,797,643 | — | | $964,505 |
| Total Open OTC Commodity Swap Contracts˄ | | | | | | $128,385,771 | | $129,349,794 | — | | $964,023 |
| (a) | Reflects the SocGen and Macquarie values at reset dates of December 19 and December 31, 2025, respectively. |
|---|
| (b) | Custom index comprised of a basket of underlying instruments. |
|---|
*Collateral amounted to $237,047,494 on open commodity futures contracts.
ÙCollateral amounted to $4,700,489 on open OTC commodity swap contracts.
#Reflects the 7-day yield at December 31, 2025.
Schedule of Investments
At December 31, 2024
| · · · · · · · · · · | ||||||
|---|---|---|---|---|---|---|
| · · · · · · · Fair · · | ||||||
| · · · · · · · Value/ · · | ||||||
| · · · · · · · Unrealized Gain · · | ||||||
| · · · · · · · (Loss) on Open · · | ||||||
| · · Notional · · Number of · · Commodity · · % of Partners’ | ||||||
| · · Amount · · Contracts · · Contracts · · Capital | ||||||
| Open Commodity Futures Contracts - Long | | | | | | |
| United States Contracts | | | | | | |
| NYMEX WTI Crude Oil Futures CL February 2025 contracts, expiring January 2025* | | $766,513,460 | 11,084 | | $28,431,020 | 2.61 |
| · · · · · · · · | ||||||
|---|---|---|---|---|---|---|
| | | Shares/Principal | | | | % of Partners’ |
| | | Amount | | Market Value | | Capital |
| Cash Equivalents · · · · · | ||||||
| United States Money Market Funds · · · · · | ||||||
| Morgan Stanley Institutional Liquidity Funds - Government Portfolio - Institutional Shares, 4.43%# | | | 727,450,000 | | $727,450,000 | 66.85 |
| Total United States Money Market Funds | | | | | $727,450,000 | 66.85 |
Open OTC Commodity Swap Contracts
| | | | | | | | | | | | | | | | | | | | | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| · · · · · · · · · · · · · · · · · · · Unrealized | ||||||||||||||||||||
| · · · · · · · · · · · · · Fair · · · · · Gain (Loss) | ||||||||||||||||||||
| · · · · · · · · · · · · · Value/Open · · · · · on | ||||||||||||||||||||
| Fund Receives · · · · · · · · · · · · · Commodity · · Upfront · · Commodity | ||||||||||||||||||||
| from · · Fund Pays · · · · Payment · · Expiration · · Notional · · Swap · · Payments/(Premiums · · Swap | ||||||||||||||||||||
| Counterparty · · Counterparty · · Counterparty · · Frequency · · Date · · Amount · · Contracts · · Received) · · Contracts(a) | ||||||||||||||||||||
| SOC GEN SGIXCWTI 12202024Index(b) | | 0.25% | Societe Generale | | monthly | | 06/20/2025 | | | 123,976,793 | | | 123,975,932 | | | — | | | (861) | |
| MACQUARIE MQCP361E 07192024Index(b) | | 0.26% | Macquarie Bank Ltd. | | monthly | | 01/21/2025 | | | 169,418,314 | | | 169,417,107 | | | — | | | (1,207) | |
| Total Open OTC Commodity Swap Contracts˄ | | | | | | | | | | | 293,395,107 | | | 293,393,039 | | | — | | | (2,068) |
| (a) | Reflects the value at reset date of December 31, 2024. |
|---|
| (b) | Custom index comprised of a basket of underlying instruments. |
|---|
*Collateral amounted to $263,049,397 on open commodity futures contracts.
ÙCollateral amounted to $17,210,489 on open OTC commodity swap contracts.
#Reflects the 7-day yield at December 31, 2024.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.