# EDGAR Filing Document

**Accession Number:** 0001597389
**File Stem:** 0000940400-25-012013
**Filing Date:** 2025-11
**Character Count:** 8850
**Document Hash:** 24e785c9fc51d4248c8953dfbac62fb2
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-25-012013.hdr.sgml**: 20251128

**ACCESSION NUMBER**: 0000940400-25-012013

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251128

**DATE AS OF CHANGE**: 20251128

**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:** 251535956

**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 Energy Commodity Strategy Absolute Return Fund (Series ID: S000068241)

| Class ID   | Class Name                                          | Ticker Symbol   |
|:---|:---|:---|
| C000218475 | USCF Energy Commodity Strategy Absolute Return Fund | USE             |

## Nport-Ex

**USCF ETF TRUST**

**USCF ENERGY COMMODITY STRATEGY ABSOLUTE RETURN FUND**

**CONSOLIDATED SCHEDULE OF INVESTMENTS**

**AT SEPTEMBER 30, 2025 (unaudited)**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Number <br> of<br> Contracts** | **Notional<br> Amount** | **Expiration<br> Date** | **Fair Value/Unrealized<br> Appreciation/(Depreciation)<br> on Open Commodity<br> Contracts** | **% of Total<br> Net Assets** |
| **Open Commodity Futures Contracts – Long** |  |  |  |  |  |
| **United States Contracts<sup>(a)</sup>** |  |  |  |  |  |
| NYMEX E-Mini Crude Oil Futures EC, <br> December contracts | 1 | $30813 | Nov-25 | $167 | 0.0 %<sup>(b)</sup> |
| NYMEX WTI Crude Oil Futures CL, <br> December contracts | 59 | 3635580 | Nov-25 | 20060 | 0.7% |
| NYMEX RBOB Gasoline Futures RB, <br> December contracts | 7 | 545605 | Nov-25 | 5557 | 0.2% |
| NYMEX Natural Gas Futures NG, <br> September contracts | 18 | 699120 | Aug-26 | (360) | (0.0)%<sup>(c)</sup> |
|  | 85 | 4911118 |  | 25424 | 0.9% |
| **Open Commodity Futures Contracts - Short** |  |  |  |  |  |
| **United States Contracts<sup>(a), (d)</sup>** |  |  |  |  |  |
| NYMEX Natural Gas Futures NG, <br> December contracts | 18 | (701640) | Nov-25 | 3240 | 0.1% |
| NYMEX WTI Crude Oil Futures CL, September contracts | 30 | (1841400) | Aug-26 | 9900 | 0.3% |
| NYMEX RBOB Gasoline Futures RB, <br> September contracts | 3 | (247926) | Aug-26 | (949) | (0.0)%<sup>(c)</sup> |
|  | 51 | (2790966) |  | 12191 | 0.4% |
| **Total Open Commodity Futures Contracts<sup>(e)</sup>** | **136** | $**2120152** |  | $**37615** | **1.3%** |

---

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

(b) Position
 represents less than 0.05%.

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

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

(e) Collateral
 amounted to $– on open Commodity Futures Contracts.

**USCF ETF TRUST**

**USCF ENERGY COMMODITY STRATEGY ABSOLUTE RETURN FUND**

**CONSOLIDATED SCHEDULE OF INVESTMENTS**

**AT SEPTEMBER 30, 2025 (unaudited) (concluded)**

---

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

---

---

| | |
|:---|:---|
| **<u>Summary of Portfolio Holdings by Sector</u>** | **% of Total <br> Net Assets** |
| Commodity Derivatives | 1.3% |

---

---

| | |
|:---|:---|
| ^ | 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 Energy Commodity Strategy Absolute Return Fund

- **b. EDGAR series identifier (if any):** S000068241

- **c. LEI of Series:** 549300WW1ESF1BCFDO97

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

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

- **b. Date as of which information is reported:** 2025-09-30

**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:** $2880446.92

**Total Liabilities:** $1886.57

**Net Assets:** $2878560.35

**Amount of Assets Invested in Other Investment Companies:** $477164.23

**Cash Not Reported:** $2595499.08

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000218475 | 9.33%                | -1.62%               | -1.22%               |

**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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| NEW YORK MERCANTILE EXCHANGE, INC. | E-MINI CRUDE OIL | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              | CORP              | US        |         1 | NC      | $167.50       | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| NEW YORK MERCANTILE EXCHANGE, INC. | WTI CRUDE        | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              | CORP              | US        |       -30 | NC      | $9900.00      | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| NEW YORK MERCANTILE EXCHANGE, INC. | NATURAL GAS      | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              | CORP              | US        |        18 | NC      | $-360.00      | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| NEW YORK MERCANTILE EXCHANGE, INC. | GASOLINE RBOB    | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              | CORP              | US        |         7 | NC      | $5556.60      | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| NEW YORK MERCANTILE EXCHANGE, INC. | GASOLINE RBOB    | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              | CORP              | US        |        -3 | NC      | $-949.16      | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| NEW YORK MERCANTILE EXCHANGE, INC. | NATURAL GAS      | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              | CORP              | US        |       -18 | NC      | $3240.00      | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| NEW YORK MERCANTILE EXCHANGE, INC. | WTI CRUDE        | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              | CORP              | US        |        59 | NC      | $20060.00     | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-11-28

**Name of Applicant:** USCF ETF Trust

**Signature:** Kenneth A. Kalina

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

**Title:** CCO