United States Oil Fund (USO) Shares Outstanding (2009 - 2026)
United States Oil Fund (USO) reported Shares Outstanding of 14.73 million for Q2 2026, up 3.3% from 14.26 million a year earlier but down 7.2% from the prior quarter.
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Analysis
United States Oil Fund (USO) Shares Outstanding (2009 - 2026) Analysis & Trends
For FY2025, United States Oil Fund posted Shares Outstanding of 13.44 million, down 24.2% from FY2024.
- Shares Outstanding has declined for five consecutive years, with a five-year compound annual growth rate of -34.9% (FY2020 to FY2025).
- By year, Shares Outstanding came in at 17.73 million in FY2024 (-22.8%), 22.96 million in FY2023 (-34.9%), 35.28 million in FY2022 (-46.0%) and 65.29 million in FY2021 (-43.1%).
- Five-year quarterly Shares Outstanding spans a low of 12.97 million in Q3 2025 and a high of 65.29 million in Q4 2021.
- Year over year, Shares Outstanding gained in two of the last eight quarters, with an average decline of 14.2%.
- The high point for year-over-year Shares Outstanding in five years was Q1 2026 (growth of 19.6%); the low point was Q3 2021 (a decline of 61.8%).
- Per Business Quant data, the three quarters before Q2 2026 came in at 15.87 million (Q1 2026), 13.44 million (Q4 2025) and 12.97 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Shares Outstanding (Qtr) |
|---|---|---|---|---|---|
| 1 | BlackRock | 164.03 Bn | 110.39 Bn | - | 155.20 Mn |
| 2 | Spdr Gold Trust | 134.08 Bn | -423.92 Bn | - | 361.94 Mn |
| 3 | Blackstone | 84.38 Bn | 79.31 Bn | - | 799.88 Mn |
| 4 | Brookfield | 81.99 Bn | -83.40 Bn | 4.47 Bn | 2.25 Bn |
| 5 | Kkr | 81.98 Bn | 48.46 Bn | - | 895.59 Mn |
| 6 | Brookfield Asset Management | 71.20 Bn | 67.45 Bn | - | 1.60 Bn |
| 7 | Apollo Global Management | 66.86 Bn | 4.54 Bn | 10.56 Bn | 591.80 Mn |
| 8 | Wheaton Precious Metals | 60.68 Bn | 56.11 Bn | 687.86 Mn | 453.89 Mn |
| 9 | Franco Nevada | 45.90 Bn | 43.27 Bn | 451.00 Mn | 192.70 Mn |
| 10 | United States Oil Fund | 2.16 Bn | -2.50 Bn | - | 14.73 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 14.73 Mn |
| Mar 31, 2026 | 15.87 Mn |
| Dec 31, 2025 | 13.44 Mn |
| Sep 30, 2025 | 12.97 Mn |
| Jun 30, 2025 | 14.26 Mn |
| Mar 31, 2025 | 13.27 Mn |
| Dec 31, 2024 | 17.73 Mn |
| Sep 30, 2024 | 16.98 Mn |
| Jun 30, 2024 | 17.17 Mn |
| Mar 31, 2024 | 19.68 Mn |
| Dec 31, 2023 | 22.96 Mn |
| Sep 30, 2023 | 20.34 Mn |
| Jun 30, 2023 | 24.43 Mn |
| Mar 31, 2023 | 25.23 Mn |
| Dec 31, 2022 | 35.28 Mn |
| Sep 30, 2022 | 30.60 Mn |
| Jun 30, 2022 | 36.62 Mn |
| Mar 31, 2022 | 42.93 Mn |
| Dec 31, 2021 | 65.29 Mn |
| Sep 30, 2021 | 56.45 Mn |
API Access
United States Oil Fund Shares Outstanding 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=shares-outstanding&ticker=USO&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "shares-outstanding", "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=shares-outstanding&ticker=USO&period=max&api_key=YOUR_API_KEY");
const data = await res.json();