# EDGAR Filing Document

**Accession Number:** 0001597389
**File Stem:** 0000940400-26-022019
**Filing Date:** 2026-5
**Character Count:** 13847
**Document Hash:** 562c917f8f56f06243e03b74e0ec278b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-26-022019.hdr.sgml**: 20260528

**ACCESSION NUMBER**: 0000940400-26-022019

**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:** 261035791

**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 Sustainable Battery Metals Strategy Fund (Series ID: S000073701)

| Class ID   | Class Name                                    | Ticker Symbol   |
|:---|:---|:---|
| C000230777 | USCF Sustainable Battery Metals Strategy Fund | ZSB             |

## Nport-Ex

**USCF ETF TRUST**

**USCF SUSTAINABLE BATTERY METALS STRATEGY 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 Total<br> Net Assets** |
| **Open Commodity Futures Contracts – Long** |  |  |  |  |  |
| **Foreign Contracts<sup>(a)</sup>** |  |  |  |  |  |
| LME Nickel Futures LN, June contracts | 6 | $618232 | Jun-26 | $(3137) | (0.1)% |
| LME Zinc Futures LX, June contracts | 5 | 418509 | Jun-26 | (13134) | (0.2)% |
| SGX IODEX IO Futures, June contracts | 33 | 326040 | Jun-26 | 19041 | 0.3% |
| ICE ECX EMISSION Futures MO, December contracts | 7 | 715115 | Dec-26 | (121036) | (2.2)% |
|  | 51 | 2077896 |  | (118266) | (2.2)% |
| **United States Contracts<sup>(a)</sup>** |  |  |  |  |  |
| COMEX Micro Copper Futures MH, May contracts | 3 | 44563 | Apr-26 | (2458) | (0.0)%<sup>(b)</sup> |
| COMEX Cobalt Fastmarket Futures CV, May contracts | 4 | 594050 | May-26 | (32650) | (0.6)% |
| COMEX Micro Silver Futures SI, May contracts | 2 | 155245 | May-26 | (5407) | (0.1)% |
| COMEX Silver Futures SI, May contracts | 1 | 387485 | May-26 | (12890) | (0.2)% |
| COMEX Aluminum Futures AL, June contracts | 12 | 926475 | Jun-26 | 90450 | 1.6% |
| COMEX Cobalt Fastmarket Futures CV, June contracts | 14 | 802482 | Jun-26 | (16049) | (0.3)% |
| COMEX Lithium Carbonate CIF CJK Fastmarket Futures LJ, June contracts | 13 | 248040 | Jun-26 | 19760 | 0.4% |
| COMEX Lithium LiOH Futures LF, June contracts | 55 | 1021900 | Jun-26 | 116600 | 2.1% |
| California Carbon Allowance Vintage Futures, December contracts | 7 | 229140 | Dec-26 | (27050) | (0.5)% |
|  | 111 | 4409380 |  | 130306 | 2.4% |

---

**USCF ETF TRUST**

**USCF SUSTAINABLE BATTERY METALS STRATEGY 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 Total<br> Net Assets** |
| **United States Contracts<sup>(a)</sup> (continued)** | | | | | |
| **Open Commodity Futures Contracts - Short** | | | | | |
| **Foreign Contracts<sup>(a),(c)</sup>** | | | | | |
| LME Zinc Futures LX, June contracts | 1 | $(80709) | Jun-26 | $(366) | (0.0)%<sup>(b)</sup> |
|  | 1 | (80709) |  | (366) | (0.0)%<sup>(b)</sup> |
| **Total Open Commodity Futures Contracts<sup>(d)</sup>** | **163** | $**6406567** |  | $**11674** | **0.2%** |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **Principal<br> Amount** | **Value** | **% of Total<br> Net Assets** |
| **Short-Term Investments** |  |  |  |
| **United States Treasury Obligations** |  |  |  |
| U.S. Treasury Bill, 3.66%, 6/02/2026 | $3500000 | $3478481 | 62.2% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $3,478,481) |  | $**3478481** | **62.2%** |
| **Total Investments** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $3,478,481) |  | $**3478481** | **62.2%** |
| Other Assets in Excess of Liabilities |  | 2112030 | 37.8% |
| **Total Net Assets** |  | $**5590511** | **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 $906,253 on open
 Commodity Futures Contracts.

---

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

---

**USCF ETF TRUST**

**USCF SUSTAINABLE BATTERY METALS STRATEGY FUND**

**CONSOLIDATED SCHEDULE OF INVESTMENTS**

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

---

| | |
|:---|:---|
| **<u>Summary of Portfolio Holdings by Sector</u>** | **% of Total<br> Net Assets** |
| Government | 62.2% |
| Commodity Derivatives | 0.2% |

---

---

| | |
|:---|:---|
| ^ | 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 Sustainable Battery Metals Strategy Fund

- **b. EDGAR series identifier (if any):** S000073701

- **c. LEI of Series:** 549300BMIGHTMFSMTQ48

**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:** $5597495.05

**Total Liabilities:** $2812.52

**Net Assets:** $5594682.53

**Amount of Assets Invested in Other Investment Companies:** $1158935.21

**Cash Not Reported:** $2097482.07

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** 0.00000000 | **1-Year:** 0.00000000 | **5-Year:** 0.00000000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** 0.00000000 | **1-Year:** 0.00000000 | **5-Year:** 0.00000000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000230777 | 7.03%                | 2.62%                | -3.36%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $126072.87               | $-82276.18                                 |
| Month 2  | $0.01                    | $0.00                                      |
| Month 3  | $0.00                    | $0.00                                      |

**Designated Index Information**

- **Index Name:** S&P GSCI Electric Vehicle Metals Index

- **Index Identifier:** SPGEVMU Index

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| COMMODITIES EXCHANGE CENTER  | Lithium Hydroxide CIF CJK (Fastmarkets) Futures | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DCO              | CORP              | US        |        55 | NC      | $116600.00    | 2.08%             |  |  |  | No            |                  1 | On Loan: No      |
| COMMODITIES EXCHANGE CENTER  | Micro Silver Futures                            | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DCO              | CORP              | US        |         2 | NC      | $-5407.00     | -0.10%            |  |  |  | No            |                  1 | On Loan: No      |
| COMMODITIES EXCHANGE CENTER  | Micro Copper Futures                            | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DCO              | CORP              | US        |         3 | NC      | $-2457.75     | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| SINGAPORE EXCHANGE LIMITED   | SGX IODEX Iron Ore Futures                      | CUSIP: 000000000<br>LEI: 549300IQ650PPXM76X03 | N/A              | DCO              | CORP              | SG        |        33 | NC      | $19041.00     | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| THE LONDON METAL EXCHANGE    | LME ZINC FUTURE JUN26                           | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              | CORP              | GB        |        -1 | NC      | $-366.00      | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| COMMODITIES EXCHANGE CENTER  | Lithium Carbonate CIF CJK (Fastmarkets) Futures | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DCO              | CORP              | US        |        13 | NC      | $19760.00     | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| THE LONDON METAL EXCHANGE    | LME ZINC FUTURE JUN26                           | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              | CORP              | GB        |         5 | NC      | $-13133.75    | -0.23%            |  |  |  | No            |                  1 | On Loan: No      |
| COMMODITIES EXCHANGE CENTER  | Silver Futures, May-2026,ETH                    | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DCO              | CORP              | US        |         1 | NC      | $-12890.00    | -0.23%            |  |  |  | No            |                  1 | On Loan: No      |
| COMMODITIES EXCHANGE CENTER  | Cobalt Metal (Fastmarkets) Futures              | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DCO              | CORP              | US        |        14 | NC      | $-16049.63    | -0.29%            |  |  |  | No            |                  1 | On Loan: No      |
| THE LONDON METAL EXCHANGE    | LME NICKEL FUTURE Jun26                         | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              | CORP              | GB        |         6 | NC      | $-3136.68     | -0.06%            |  |  |  | No            |                  1 | On Loan: No      |
| ICE FUTURES U.S., INC.       | CCA Vintage 2026 Dec26                          | CUSIP: 000000000<br>LEI: 5493004R83R1LVX2IL36 | N/A              | DCO              | CORP              | US        |         7 | NC      | $-27050.00    | -0.48%            |  |  |  | No            |                  1 | On Loan: No      |
| COMMODITIES EXCHANGE CENTER  | Aluminum Futures                                | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DCO              | CORP              | US        |        12 | NC      | $90450.01     | 1.62%             |  |  |  | No            |                  1 | On Loan: No      |
| COMMODITIES EXCHANGE CENTER  | Copper Futures, May-2026,ETH                    | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DCO              | CORP              | US        |         4 | NC      | $-32650.00    | -0.58%            |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury Bills | WIB 0 06/02/26                                  | CUSIP: 912797TU1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3500000 | PA      | $3478480.83   | 62.17%            | 2026-06-02      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ICE ENDEX MARKETS B.V.       | EUA Futures - EUA                               | CUSIP: 000000000<br>LEI: 549300CZW488L20NT866 | N/A              | DCO              | CORP              | NL        |         7 | NC      | $-121036.53   | -2.16%            |  |  |  | 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