# EDGAR Filing Document

**Accession Number:** 0001597389
**File Stem:** 0000940400-26-022016
**Filing Date:** 2026-5
**Character Count:** 21103
**Document Hash:** 381b9988b8a9dd96a9fbeccda1e08cea
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-26-022016.hdr.sgml**: 20260528

**ACCESSION NUMBER**: 0000940400-26-022016

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260528

**DATE AS OF CHANGE**: 20260528

**PERIOD START**: 20260630

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** USCF ETF Trust
- **CENTRAL INDEX KEY:** 0001597389

**ORGANIZATION NAME:**
- **EIN:** 464572871
- **FISCAL YEAR END:** 0630

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22930
- **FILM NUMBER:** 261035788

**BUSINESS ADDRESS:**
- **STREET 1:** 1850 MT. DIABLO BLVD.
- **STREET 2:** SUITE 640
- **CITY:** WALNUT CREEK
- **STATE:** CA
- **ZIP:** 94596
- **BUSINESS PHONE:** 510-522-9600

**MAIL ADDRESS:**
- **STREET 1:** 1850 MT. DIABLO BLVD.
- **STREET 2:** SUITE 640
- **CITY:** WALNUT CREEK
- **STATE:** CA
- **ZIP:** 94596

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** USCF Equity Trust
- **DATE OF NAME CHANGE:** 20140116

## Series and Classes Contracts Data

### USCF SummerHaven Dynamic Commodity Strategy No K-1 Fund (Series ID: S000061783)

| Class ID   | Class Name                                              | Ticker Symbol   |
|:---|:---|:---|
| C000200080 | USCF SummerHaven Dynamic Commodity Strategy No K-1 Fund | SDCI            |

## Nport-Ex

**USCF ETF TRUST**

**USCF SUMMERHAVEN DYNAMIC COMMODITY STRATEGY NO K-1 FUND**

**CONSOLIDATED SCHEDULE OF INVESTMENTS**

**AT MARCH 31, 2026 (unaudited)**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Number of<br> Contracts** | **Notional<br> Amount** | **Expiration<br> Date** | **Fair Value/<br> Unrealized<br> Appreciation/<br> (Depreciation) on <br> Open Commodity<br> Contracts** | **% of<br> Total Net<br> Assets** |
| **Open Commodity Futures Contracts – Long** |  |  |  |  |  |
| **Foreign Contracts<sup>(a)</sup>** |  |  |  |  |  |
| LME Tin Futures LT, April contracts | 128 | $34340360 | Apr-26 | $(4467080) | (0.9)% |
| ICE Low Sulphur Gasoil Futures QS, May contracts | 312 | 20302925 | May-26 | 18361676 | 3.5% |
| LME Tin Futures LT, May contracts | 167 | 38296580 | May-26 | 737165 | 0.2% |
| LME Aluminum Futures LA, June contracts | 452 | 36391834 | Jun-26 | 2956348 | 0.6% |
| LME Zinc Futures LX, June contracts | 454 | 38343638 | Jun-26 | (1535588) | (0.3)% |
| ICE Brent Crude Futures CO, October contracts | 419 | 29074339 | Aug-26 | 5681711 | 1.1% |
|  | 1932 | 196749676 |  | 21734232 | 4.2% |
| **United States Contracts<sup>(a)</sup>** |  |  |  |  |  |
| CME Cattle Feeder Futures FC, May contracts | 209 | 37607238 | May-26 | 689400 | 0.1% |
| NYMEX Natural Gas Futures NG, June contracts | 1201 | 36822019 | May-26 | (719959) | (0.1)% |
| NYMEX NY Harbour ULSD Futures HO, June contracts | 235 | 37235177 | May-26 | (312494) | (0.1)% |
| CBOT Soybean Oil Futures SO, July contracts | 902 | 36899945 | Jul-26 | 377911 | 0.1% |
| ICE Coffee Futures KC, July contracts | 324 | 35820545 | Jul-26 | (488345) | (0.1)% |
| NYMEX Platinum Futures PL, July contracts | 395 | 43367660 | Jul-26 | (4456210) | (0.9)% |
| CME Live Cattle Futures LC, August contracts | 395 | 37356093 | Aug-26 | 532307 | 0.1% |
| NYMEX RBOB Gasoline Futures RB, September contracts | 326 | 36923897 | Aug-26 | (670220) | (0.1)% |
| CBOT Soybean Meal Futures SM, September contracts | 1171 | 36340451 | Sep-26 | (39451) | (0.0)%<sup>(b)</sup> |
| NYMEX WTI Crude Oil Futures CL, December contracts | 473 | 30117683 | Nov-26 | 4160627 | 0.8% |
|  | 5631 | 368490708 |  | (926434) | (0.2)% |
| **Open Commodity Futures Contracts - Short** |  |  |  |  |  |
| **Foreign Contracts<sup>(a),(c)</sup>** |  |  |  |  |  |
| LME Tin Futures LT, April contracts | 128 | (29290720) | Apr-26 | (582560) | (0.1)% |

---

**USCF ETF TRUST**

**USCF SUMMERHAVEN DYNAMIC COMMODITY STRATEGY NO K-1 FUND**

**CONSOLIDATED SCHEDULE OF INVESTMENTS**

**AT MARCH 31, 2026 (unaudited) (continued)**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Number of<br> Contracts** | **Notional<br> Amount** | **Expiration<br> Date** | **Fair Value/<br> Unrealized<br> Appreciation/<br> (Depreciation) on <br> Open Commodity<br> Contracts** | **% of<br> Total Net<br> Assets** |
| **Foreign Contracts<sup>(a),(c)</sup> (continued)** |  |  |  |  |  |
| LME Aluminum Futures LA, June contracts | 5 | $(382301) | Jun-26 | $(52967) | (0.0)%<sup>(b)</sup> |
| LME Zinc Futures LX, June contracts | 454 | (38219575) | Jun-26 | 1411525 | 0.3% |
|  | 587 | (67892596) |  | 775998 | 0.2% |
| **Total Open Commodity Futures Contracts<sup>(d)</sup>** | **8150** | $**497347788** |  | $**21583796** | **4.2%** |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** | **% of<br> Total Net<br> Assets** |
| **Short-Term Investments** |  |  |  |
| **United States Treasury Obligations** |  |  |  |
| U.S. Treasury Bills: |  |  |  |
| 3.68%, 4/09/2026 | $15000000 | $14987950 | 2.9% |
| 3.68%, 4/16/2026 | 21000000 | 20968325 | 4.0% |
| 3.67%, 5/05/2026 | 27000000 | 26908073 | 5.2% |
| 3.69%, 5/07/2026 | 11000000 | 10960125 | 2.1% |
| 3.68%, 5/28/2026 | 27000000 | 26845672 | 5.2% |
| 3.66%, 6/02/2026 | 10000000 | 9938517 | 1.9% |
| 3.69%, 6/18/2026 | 27000000 | 26788815 | 5.2% |
| **Total Investments** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $137,397,477) |  | $**137397477** | **26.5%** |
| Other Assets in Excess of Liabilities |  | 381818439 | 73.5% |
| **Total Net Assets** |  | $**519215916** | **100.0%** |

---

(a) All, or part of investment
 is held in the Fund's wholly owned subsidiary.

(b) Position represents greater than (0.05)%.

(c) All short contracts are acquired solely
 for the purpose of reducing a long position. LME futures contracts settle on their respective maturity date.

(d) Collateral amounted to $58,801,104 on open
 Commodity Futures Contracts.

**USCF ETF TRUST**

**USCF SUMMERHAVEN DYNAMIC COMMODITY STRATEGY NO K-1 FUND**

**CONSOLIDATED SCHEDULE OF INVESTMENTS**

**AT MARCH 31, 2026 (unaudited) (continued)**

---

| | |
|:---|:---|
| **<u>Summary of Portfolio Holdings by Country^</u>** |  |
| United States | 85.8% |
| United Kingdom | 14.2 |
|  | 100.0% |

---

---

| | |
|:---|:---|
| **<u>Summary of Portfolio Holdings by Sector</u>** | **% of Total**<br> **Net Assets** |
| Government | 26.5% |
| Commodity Derivatives | 4.2% |

---

---

| | |
|:---|:---|
| ^ | As a percentage of portfolio holdings, which includes investments and other financial instruments shown on the Consolidated Schedule of Investments. |

---

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** USCF ETF Trust

- **b. Investment Company Act file number:** 811-22930

- **c. CIK number of Registrant:** 0001597389

- **d. LEI of Registrant:** 549300MH2TWHBRNV2U91

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 1850 MT.Diablo Boulevard, Suite 640

  - **City:** Walnut Creek

  - **State:** CA

  - **Foreign country:** US

  - **Zip / Postal Code:** 94596

  - **Telephone number:** 1-800-920-0259

**Item A.2. Information about the Series.**

- **a. Name of Series:** USCF SummerHaven Dynamic Commodity Strategy No K-1 Fund

- **b. EDGAR series identifier (if any):** S000061783

- **c. LEI of Series:** 549300C8PC4VASKYOM26

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2026-06-30

- **b. Date as of which information is reported:** 2026-03-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $519497099.07

**Total Liabilities:** $247907.24

**Net Assets:** $519249191.83

**Amount of Assets Invested in Other Investment Companies:** $108258340.17

**Cash Not Reported:** $350257015.79

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000200080 | 8.79%                | 1.46%                | 11.62%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $0.00                                      |
| Month 2  | $0.00                    | $0.00                                      |
| Month 3  | $0.00                    | $0.00                                      |

**Designated Index Information**

- **Index Name:** Blended Custom Benchmark

- **Index Identifier:** N/A

### Schedule of Portfolio Investments

| Name                                        | Title                                       | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| THE LONDON METAL EXCHANGE                   | LME ZINC FUTURE JUN26                       | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              | CORP              | GB        |       454 | NC      | $-1535588.50  | -0.30%            |  |  |  | No            |                  1 | On Loan: No      |
| COMMODITIES EXCHANGE CENTER                 | Copper Futures, May-2026,ETH                | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DCO              | CORP              | US        |        54 | NC      | $-423100.03   | -0.08%            |  |  |  | No            |                  1 | On Loan: No      |
| THE LONDON METAL EXCHANGE                   | LME PRI ALUM FUTR JUN26                     | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              | CORP              | GB        |       446 | NC      | $2956385.50   | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| NEW YORK MERCANTILE EXCHANGE, INC.          | Henry Hub Natural Gas Futures, Jun-2026,ETH | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              | CORP              | US        |       901 | NC      | $-718759.00   | -0.14%            |  |  |  | No            |                  1 | On Loan: No      |
| NEW YORK MERCANTILE EXCHANGE, INC.          | NY Harbor ULSD Futures, Jun-2026,ETH        | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              | CORP              | US        |       176 | NC      | $-313546.97   | -0.06%            |  |  |  | No            |                  1 | On Loan: No      |
| ICE FUTURES U.S., INC.                      | Coffee C Futures - NYCC                     | CUSIP: 000000000<br>LEI: 5493004R83R1LVX2IL36 | N/A              | DCO              | CORP              | US        |       243 | NC      | $-486768.15   | -0.09%            |  |  |  | No            |                  1 | On Loan: No      |
| NEW YORK MERCANTILE EXCHANGE, INC.          | Crude Oil Futures, Dec-2026,ETH             | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              | CORP              | US        |       484 | NC      | $4263586.90   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| ICE FUTURES EUROPE                          | LS Gas Oil Futures - ULSD-ARA               | CUSIP: 000000000<br>LEI: 549300UF4R84F48NCH34 | N/A              | DCO              | CORP              | GB        |       350 | NC      | $20759375.42  | 4.00%             |  |  |  | No            |                  1 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC. | Soybean Oil Futures, Jul-2026,ETH           | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DCO              | CORP              | US        |       677 | NC      | $378437.22    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury Bills                | B 0 04/09/26                                | CUSIP: 912797SL2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  15000000 | PA      | $14987950.00  | 2.89%             | 2026-04-09      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ICE FUTURES U.S., INC.                      | Sugar No. 11 Futures - NYCC                 | CUSIP: 000000000<br>LEI: 5493004R83R1LVX2IL36 | N/A              | DCO              | CORP              | US        |       519 | NC      | $811842.53    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC. | Chicago SRW Wheat Futures, May-2026,ETH     | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DCO              | CORP              | US        |       284 | NC      | $328699.89    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury Bills                | B 0 06/18/26                                | CUSIP: 912797TD9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  27000000 | PA      | $26788815.00  | 5.16%             | 2026-06-18      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bills                | B 0 05/05/26                                | CUSIP: 912797TL1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  27000000 | PA      | $26908072.50  | 5.18%             | 2026-05-05      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC. | Soybean Meal Futures                        | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DCO              | CORP              | US        |       879 | NC      | $-36081.21    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE INC.            | Feeder Cattle Futures, May-2026,ETH         | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DCO              | CORP              | US        |       157 | NC      | $690112.15    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury Bills                | B 0 04/16/26                                | CUSIP: 912797QD2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  21000000 | PA      | $20968325.00  | 4.04%             | 2026-04-16      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE INC.            | Live Cattle Futures                         | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DCO              | CORP              | US        |       297 | NC      | $532397.52    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| ICE FUTURES EUROPE                          | Brent Crude Futures - North Sea             | CUSIP: 000000000<br>LEI: 549300UF4R84F48NCH34 | N/A              | DCO              | CORP              | GB        |       434 | NC      | $5902860.60   | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| THE LONDON METAL EXCHANGE                   | LME TIN FUTURE May26                        | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              | CORP              | GB        |       125 | NC      | $737585.00    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE INC.            | Feeder Cattle Futures                       | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DCO              | CORP              | US        |        45 | NC      | $418087.40    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| NEW YORK MERCANTILE EXCHANGE, INC.          | Platinum Futures, Jul-2026,ETH              | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              | CORP              | US        |       370 | NC      | $-4456320.07  | -0.86%            |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury Bills                | B 0 05/28/26                                | CUSIP: 912797SW8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  27000000 | PA      | $26845672.50  | 5.17%             | 2026-05-28      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bills                | B 0 05/07/26                                | CUSIP: 912797SP3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  11000000 | PA      | $10960125.00  | 2.11%             | 2026-05-07      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| THE LONDON METAL EXCHANGE                   | LME ZINC FUTURE JUN26                       | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              | CORP              | GB        |      -454 | NC      | $1411525.25   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE INC.            | Live Cattle Futures                         | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DCO              | CORP              | US        |        85 | NC      | $365859.92    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| NEW YORK MERCANTILE EXCHANGE, INC.          | NY Harbor ULSD Futures, May-2026,ETH        | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              | CORP              | US        |        79 | NC      | $4580935.72   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| NEW YORK MERCANTILE EXCHANGE, INC.          | Henry Hub Natural Gas Futures, May-2026,ETH | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              | CORP              | US        |       285 | NC      | $-99744.00    | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| THE LONDON METAL EXCHANGE                   | LME TIN FUTURE Apr26                        | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              | CORP              | GB        |       -96 | NC      | $-582240.00   | -0.11%            |  |  |  | No            |                  1 | On Loan: No      |
| NEW YORK MERCANTILE EXCHANGE, INC.          | RBOB Gasoline Futures, Sep-2026,ETH         | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              | CORP              | US        |       245 | NC      | $-670029.32   | -0.13%            |  |  |  | No            |                  1 | On Loan: No      |
| ICE FUTURES U.S., INC.                      | Coffee C Futures - NYCC                     | CUSIP: 000000000<br>LEI: 5493004R83R1LVX2IL36 | N/A              | DCO              | CORP              | US        |        76 | NC      | $340293.48    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| THE LONDON METAL EXCHANGE                   | LME TIN FUTURE Apr26                        | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              | CORP              | GB        |       128 | NC      | $-4467080.00  | -0.86%            |  |  |  | No            |                  1 | On Loan: No      |
| THE LONDON METAL EXCHANGE                   | LME PRI ALUM FUTR JUN26                     | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              | CORP              | GB        |        -5 | NC      | $-52966.75    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury Bills                | WIB 0 06/02/26                              | CUSIP: 912797TU1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  10000000 | PA      | $9938516.67   | 1.91%             | 2026-06-02      | None          | 0.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-05-28

**Name of Applicant:** USCF ETF Trust

**Signature:** Kenneth A. Kalina

**Name of Signer:** Kenneth A. Kalina

**Title:** CCO