# EDGAR Filing Document

**Accession Number:** 0001597389
**File Stem:** 0000940400-26-022020
**Filing Date:** 2026-5
**Character Count:** 15984
**Document Hash:** 990623188904f26e59680d0f7cf133f9
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-26-022020.hdr.sgml**: 20260528

**ACCESSION NUMBER**: 0000940400-26-022020

**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:** 261035792

**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 Midstream Energy Income Fund (Series ID: S000071002)

| Class ID   | Class Name                        | Ticker Symbol   |
|:---|:---|:---|
| C000225425 | USCF Midstream Energy Income Fund | UMI             |

## Nport-Ex

**USCF ETF TRUST**

**USCF MIDSTREAM ENERGY INCOME FUND**

**SCHEDULE OF INVESTMENTS**

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

---

| | | | |
|:---|:---|:---|:---|
|  | **% of Total<br> Net Assets** | **Shares** | **Value** |
| **Common Stocks** | **70.9%** |  |  |
| **Pipelines** | **70.9%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Antero Midstream Corp. | 3.8% | 845490 | $19277172 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cheniere Energy, Inc. | 4.3% | 78055 | 22148887 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DT Midstream, Inc. | 6.2% | 235533 | 31719229 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Enbridge, Inc. | 7.1% | 667547 | 36140994 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gibson Energy, Inc. | 2.0% | 478540 | 10177398 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hess Midstream LP – Class A | 2.8% | 366848 | 14259382 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Keyera Corp. | 4.4% | 589871 | 22744408 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kinder Morgan, Inc. | 6.5% | 1000340 | 33541400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kinetik Holdings, Inc. | 1.4% | 145203 | 7029277 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ONEOK, Inc. | 4.6% | 262094 | 23690677 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pembina Pipeline Corp. | 4.3% | 486709 | 21785095 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Rockpoint Gas Storage, Inc. – Class A | 0.9% | 230392 | 4612628 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;South Bow Corp. | 3.4% | 519979 | 17325700 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sunococorp LLC | 1.0% | 87442 | 5390799 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Targa Resources Corp. | 6.5% | 131870 | 33063765 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TC Energy Corp. | 4.5% | 370386 | 23186164 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Williams Cos., Inc. (The) | 7.2% | 508926 | 37039634 |
|  |  |  | 363132609 |
| **Total Common Stocks** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $231,500,368) | **70.9%** |  | 363132609 |
| **Master Limited Partnerships** | **28.3%** |  |  |
| **Pipelines** | **28.3%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Energy Transfer LP | 7.9% | 2082694 | 40195994 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Enterprise Products Partners LP | 7.8% | 1056140 | 39964337 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Genesis Energy LP | 0.7% | 201835 | 3598718 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MPLX LP | 4.5% | 407827 | 23274687 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Plains GP Holdings LP – Class A<sup>(a)</sup> | 4.6% | 964845 | 23426437 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Western Midstream Partners LP | 2.8% | 352686 | 14520083 |
|  |  |  | 144980256 |
| **Total Master Limited Partnerships** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $84,853,909) | **28.3%** |  | 144980256 |
| **Money Market Funds** | **0.5%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dreyfus Government Cash Management Fund, Institutional Shares, 3.53%<sup>(b)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $2,364,708) | **0.5%** | 2364708 | 2364708 |
| **Total Investments** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $318,718,985) | **99.7%** |  | $**510477573** |
| Other Assets in Excess of Liabilities | 0.3% |  | 1333161 |
| **Total Net Assets** | **100.0%** |  | $**511810734** |

---

(a) Non-income producing security.

(b) Reflects the 7-day yield at March 31, 2026.

**USCF ETF TRUST**

**USCF MIDSTREAM ENERGY INCOME FUND**

**SCHEDULE OF INVESTMENTS**

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

---

| | |
|:---|:---|
| **<u>Summary of Portfolio Holdings by Country^</u>** |  |
| United States | 73.4% |
| Canada | 26.6 |
|  | 100.0% |
| **<u>Summary of Portfolio Holdings by Sector</u>** | **% of Total<br> Net Assets** |
| Energy | 99.2% |
| Money Market Funds | 0.5% |

---

---

| | |
|:---|:---|
| ^ | As a percentage of portfolio holdings, which includes investments and other financial instruments shown on the 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 Midstream Energy Income Fund

- **b. EDGAR series identifier (if any):** S000071002

- **c. LEI of Series:** 549300BXIIPFVRZYL554

**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:** $511112337.17

**Total Liabilities:** $470261.50

**Net Assets:** $510642075.67

**Cash Not Reported:** $395994.30

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000225425 | 7.08%                | 9.65%                | 2.37%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-100312.25              | $27784082.91                               |
| Month 2  | $0.00                    | $40766141.31                               |
| Month 3  | $1249237.57              | $9336054.81                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Dreyfus Government Cash Management Funds | Dreyfus Government Cash Management Funds SH BEN INT | CUSIP: 262006208<br>LEI: 549300F7IDB6WRO7VJ11 | Long             | STIV             | RF                | US        |   2364708 | NS      | $2364707.87   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| ANTERO MIDSTREAM CORP                    | Antero Midstream Corporation COM                    | CUSIP: 03676B102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    843560 | NS      | $19233168.00  | 3.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Targa Resources Corp.                    | Targa Resources Corp. COM                           | CUSIP: 87612G101<br>LEI: 5493003QENHHS261UR94 | Long             | EC               | CORP              | US        |    131568 | NS      | $32988044.64  | 6.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Gibson Energy Inc.                       | Gibson Energy Inc. COM NPV                          | CUSIP: 374825206<br>LEI: 549300WYW5D9I3FR0643 | Long             | EC               | CORP              | CA        |    477448 | NS      | $10154173.37  | 1.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Kinetik Holdings Inc                     | Kinetik Holdings Inc COM NEW CL A                   | CUSIP: 02215L209<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    144871 | NS      | $7013205.11   | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Enterprise Products Partners L.P.        | Enterprise Products Partners L.P. COM               | CUSIP: 293792107<br>LEI: K4CDIF4M54DJZ6TB4Q48 | Long             | EC               | CORP              | US        |   1053728 | NS      | $39873067.52  | 7.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Hess Midstream LP                        | Hess Midstream LP CL A SHS                          | CUSIP: 428103105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    366010 | NS      | $14226808.70  | 2.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Genesis Energy L.P.                      | Genesis Energy L.P. UNIT LTD PARTN                  | CUSIP: 371927104<br>LEI: 549300VJ5D6MDK138782 | Long             | EC               | CORP              | US        |    201375 | NS      | $3590516.25   | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| TC Energy Corp                           | TC Energy Corp COM                                  | CUSIP: 87807B107<br>LEI: 549300UGKOFV2IWJJG27 | Long             | EC               | CORP              | CA        |    369540 | NS      | $23133204.00  | 4.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Keyera Corp.                             | Keyera Corp. COM NPV                                | CUSIP: 493271100<br>LEI: 254900LXI62FUHZGH122 | Long             | EC               | CORP              | CA        |    588525 | NS      | $22692508.51  | 4.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Pembina Pipeline Corporation             | Pembina Pipeline Corporation COM                    | CUSIP: 706327103<br>LEI: 5493002W3L9YICM6FU21 | Long             | EC               | CORP              | CA        |    485597 | NS      | $21735321.72  | 4.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Plains GP Holdings LP                    | Plains GP Holdings LP LTD PARTNR INT A              | CUSIP: 72651A207<br>LEI: 549300O56BSKRD8FAM12 | Long             | EC               | CORP              | US        |    962643 | NS      | $23372972.04  | 4.58%             |  |  |  | No            |                  1 | On Loan: No      |
| MPLX LP                                  | MPLX LP COM UNIT REP LTD                            | CUSIP: 55336V100<br>LEI: 5493000CZJ19CK4P3G36 | Long             | EC               | CORP              | US        |    406895 | NS      | $23221497.65  | 4.55%             |  |  |  | No            |                  1 | On Loan: No      |
| SunocoCorp LLC                           | SunocoCorp LLC COM SHS LLC                          | CUSIP: 86765Q106<br>LEI: 529900W6BS3KGM2OOQ61 | Long             | EC               | CORP              | US        |     87242 | NS      | $5378469.30   | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Kinder Morgan, Inc.                      | Kinder Morgan, Inc. COM                             | CUSIP: 49456B101<br>LEI: 549300WR7IX8XE0TBO16 | Long             | EC               | CORP              | US        |    998056 | NS      | $33464817.68  | 6.55%             |  |  |  | No            |                  1 | On Loan: No      |
| ROCKPOINT GAS STORAGE INC                | Rockpoint Gas Storage Inc. COM CLASS A              | CUSIP: 773915103<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |    229866 | NS      | $4602096.69   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Williams Companies Inc. (The)            | Williams Companies Inc. (The) COM                   | CUSIP: 969457100<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | EC               | CORP              | US        |    507764 | NS      | $36955063.92  | 7.24%             |  |  |  | No            |                  1 | On Loan: No      |
| DT Midstream Inc                         | DT Midstream Inc COMMON STOCK                       | CUSIP: 23345M107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    234995 | NS      | $31646776.65  | 6.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Cheniere Energy Inc                      | Cheniere Energy Inc COM NEW                         | CUSIP: 16411R208<br>LEI: MIHC87W9WTYSYZWV1J40 | Long             | EC               | CORP              | US        |     77877 | NS      | $22098377.52  | 4.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Enbridge Inc.                            | Enbridge Inc. COM                                   | CUSIP: 29250N105<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | EC               | CORP              | CA        |    666023 | NS      | $36058485.22  | 7.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Energy Transfer LP                       | Energy Transfer LP COM UT LTD PTN                   | CUSIP: 29273V100<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | EC               | CORP              | US        |   2077938 | NS      | $40104203.40  | 7.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Western Midstream Partners LP            | Western Midstream Partners LP COM UNIT LP INT       | CUSIP: 958669103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    351880 | NS      | $14486899.60  | 2.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Oneok Inc.                               | Oneok Inc. COM                                      | CUSIP: 682680103<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | EC               | CORP              | US        |    261496 | NS      | $23636623.44  | 4.63%             |  |  |  | No            |                  1 | On Loan: No      |
| South Bow Corp.                          | South Bow Corp. COM                                 | CUSIP: 83671M105<br>LEI: 2549000XS5TAFA3YF943 | Long             | EC               | CORP              | CA        |    518791 | NS      | $17286116.12  | 3.39%             |  |  |  | No            |                  1 | 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