United States Oil Fund (USO) Net Equity Issued and Repurchased (2012 - 2026)
United States Oil Fund (USO) reported Net Equity Issued and Repurchased of $4.98 billion for Q2 2026, up 90.6% from $2.61 billion a year earlier and up 66.2% from the prior quarter.
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Analysis
United States Oil Fund (USO) Net Equity Issued and Repurchased (2012 - 2026) Analysis & Trends
Over the twelve months ended Jun 30, 2026, United States Oil Fund's Net Equity Issued and Repurchased came in at $10.14 billion, up 23.1% year-over-year; for FY2025, it was $6.7 billion, down 17.9% from FY2024.
- Net Equity Issued and Repurchased has a five-year compound annual growth rate of -3.5% (FY2020 to FY2025).
- By year, Net Equity Issued and Repurchased came in at $8.16 billion in FY2024 (+30.8%), $6.24 billion in FY2023 (+77.8%), $3.51 billion in FY2022 (+183.1%) and $1.24 billion in FY2021 (-84.6%).
- The Q2 2026 figure ranks as the highest quarterly Net Equity Issued and Repurchased in data going back to Q1 2012.
- Year over year, Net Equity Issued and Repurchased gained in four of the last eight quarters, with growth averaging 8.6%.
- The high point for year-over-year Net Equity Issued and Repurchased in five years was Q1 2022 (growth of 737.2%); the low point was Q3 2025 (a decline of 47.4%).
- Per Business Quant data, the three quarters before Q2 2026 came in at $3 billion (Q1 2026), $1.11 billion (Q4 2025) and $1.05 billion (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Equity Issued (Qtr) |
|---|---|---|---|---|---|
| 1 | BlackRock | 164.03 Bn | 110.39 Bn | - | 14.00 Mn |
| 2 | Spdr Gold Trust | 134.08 Bn | -423.92 Bn | - | - |
| 3 | Blackstone | 84.38 Bn | 79.31 Bn | - | - |
| 4 | Brookfield | 81.99 Bn | -83.40 Bn | 4.47 Bn | - |
| 5 | Kkr | 81.98 Bn | 48.46 Bn | - | - |
| 6 | Brookfield Asset Management | 71.20 Bn | 67.45 Bn | - | - |
| 7 | Apollo Global Management | 66.86 Bn | 4.54 Bn | 10.56 Bn | - |
| 8 | Wheaton Precious Metals | 60.68 Bn | 56.11 Bn | 687.86 Mn | - |
| 9 | Franco Nevada | 45.90 Bn | 43.27 Bn | 451.00 Mn | 200,000.00 |
| 10 | United States Oil Fund | 2.16 Bn | -2.50 Bn | - | 4.98 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 4.98 Bn |
| Mar 31, 2026 | 3.00 Bn |
| Dec 31, 2025 | 1.11 Bn |
| Sep 30, 2025 | 1.05 Bn |
| Jun 30, 2025 | 2.61 Bn |
| Mar 31, 2025 | 1.93 Bn |
| Dec 31, 2024 | 1.69 Bn |
| Sep 30, 2024 | 2.00 Bn |
| Jun 30, 2024 | 2.09 Bn |
| Mar 31, 2024 | 2.38 Bn |
| Dec 31, 2023 | 2.64 Bn |
| Sep 30, 2023 | 1.49 Bn |
| Jun 30, 2023 | 1.24 Bn |
| Mar 31, 2023 | 861.03 Mn |
| Dec 31, 2022 | 1.06 Bn |
| Sep 30, 2022 | 962.03 Mn |
| Jun 30, 2022 | 375.78 Mn |
| Mar 31, 2022 | 1.11 Bn |
| Dec 31, 2021 | 575.02 Mn |
| Sep 30, 2021 | 297.13 Mn |
API Access
United States Oil Fund Net Equity Issued and Repurchased API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=net-equity-issued-and-repurchased&ticker=USO&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "net-equity-issued-and-repurchased", "ticker": "USO", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=net-equity-issued-and-repurchased&ticker=USO&period=max&api_key=YOUR_API_KEY");
const data = await res.json();