# EDGAR Filing Document

**Accession Number:** 0001597389
**File Stem:** 0000940400-25-012015
**Filing Date:** 2025-11
**Character Count:** 23956
**Document Hash:** 598d735b339b66218a544c3e1a50410b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-25-012015.hdr.sgml**: 20251128

**ACCESSION NUMBER**: 0000940400-25-012015

**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:** 251535958

**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 SEPTEMBER 30, 2025 (unaudited)**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Number 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** |  |  |  |  |  |
| **Foreign Contracts<sup>(a)</sup>** |  |  |  |  |  |
| ICE ECX EMISSION Futures MO, <br> December contracts | 2 | $149615 | Dec-25 | $16126 | 1.0% |
| LME Nickel Futures LN, <br> December contracts | 1 | 91332 | Dec-25 | (69) | (0.0)%<sup>(b)</sup> |
| LME Zinc Futures LX, <br> December contracts | 1 | 69911 | Dec-25 | 4317 | 0.3% |
| SGX IODEX IO Futures, <br> December contracts | 1 | 10250 | Dec-25 | 95 | 0.0 %<sup>(c)</sup> |
|  | 5 | 321108 |  | 20469 | 1.3% |
| **United States Contracts<sup>(a)</sup>** |  |  |  |  |  |
| COMEX Aluminum Futures AL, <br> December contracts | 2 | 128012 | Dec-25 | 3087 | 0.2% |
| COMEX Copper Futures HG, <br> December contracts | 1 | 111825 | Dec-25 | 9587 | 0.6% |
| COMEX Silver Futures SI, <br> December contracts | 1 | 191915 | Dec-25 | 41285 | 2.5% |
| COMEX Cobalt Fastmarket Futures CV, <br> December contracts | 12 | 435192 | Dec-25 | 96562 | 5.8% |
| COMEX Lithium Carbonate CIF CJK Fastmarket Futures LJ, <br> December contracts | 4 | 40000 | Dec-25 | (1480) | (0.1)% |
| COMEX Lithium LiOH Futures LF, <br> December contracts | 18 | 162060 | Dec-25 | 11640 | 0.7% |
|  | 38 | 1069004 |  | 160681 | 9.7% |
| **Total Open Commodity Futures Contracts<sup>(d)</sup>** | **43** | $**1390112** |  | $**181150** | **11.0%** |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares** | **Value** | **% of Total Net Assets** |
| **Common Stocks** |  |  |  |
| **Australia** |  |  |  |
| Iluka Resources Ltd. | 575 | 2412 | 0.1% |
| Lynas Rare Earths Ltd.<sup>(e)</sup> | 3822 | 42580 | 2.6% |
| Mineral Resources Ltd.<sup>(e)</sup> | 78 | 2127 | 0.1% |
| Pilbara Minerals Ltd.<sup>(e)</sup> | 3994 | 6671 | 0.4% |
|  |  | 53790 | 3.2% |

---

**USCF ETF TRUST**

**USCF SUSTAINABLE BATTERY METALS STRATEGY FUND**

**CONSOLIDATED SCHEDULE OF INVESTMENTS**

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

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares** | **Value** | **% of Total <br> Net Assets** |
| **Common Stocks (continued)** |  |  |  |
| **Brazil** |  |  |  |
| Vale SA, ADR | 100 | $1086 | 0.1% |
| **Chile** |  |  |  |
| Sociedad Quimica y Minera de Chile SA, ADR<sup>(e)</sup> | 400 | 17192 | 1.0% |
| **China** |  |  |  |
| Beijing Easpring Material Technology Co. Ltd. – Class A | 200 | 1863 | 0.1% |
| China Northern Rare Earth Group High-Tech Co. Ltd. – Class A | 1600 | 10843 | 0.7% |
| Ganfeng Lithium Group Co. Ltd. – Class H, 144A<sup>(f)</sup> | 1800 | 9980 | 0.6% |
| Guangzhou Tinci Materials Technology Co. Ltd. – Class A | 500 | 2678 | 0.2% |
| Jinduicheng Molybdenum Co. Ltd. – Class A | 6100 | 13223 | 0.8% |
| Ningbo Ronbay New Energy Technology Co. Ltd. – Class A | 436 | 1956 | 0.1% |
| Shenzhen Capchem Technology Co. Ltd. – Class A | 300 | 2247 | 0.1% |
| Shenzhen Dynanonic Co. Ltd. – Class A<sup>(e)</sup> | 100 | 650 | 0.0 %<sup>(c)</sup> |
| Sinofibers Technology Co. Ltd. – Class A | 2700 | 13353 | 0.8% |
| Tianqi Lithium Corp. – Class H<sup>(e)</sup> | 600 | 3466 | 0.2% |
| Xiangtan Electrochemical Scientific Co. Ltd. – Class A | 2000 | 4265 | 0.3% |
| Xinte Energy Co. Ltd. – Class H<sup>(e)</sup> | 4000 | 4252 | 0.3% |
|  |  | 68776 | 4.2% |
| **France** |  |  |  |
| Eramet SA | 194 | 12720 | 0.8% |
| **Germany** |  |  |  |
| SGL Carbon SE<sup>(e)</sup> | 6728 | 24902 | 1.5% |
| Wacker Chemie AG | 161 | 12126 | 0.7% |
|  |  | 37028 | 2.2% |
| **Japan** |  |  |  |
| Nippon Carbon Co. Ltd. | 700 | 20618 | 1.3% |
| Nippon Denko Co. Ltd. | 2900 | 6657 | 0.4% |
| Toho Titanium Co. Ltd. | 100 | 1208 | 0.1% |
|  |  | 28483 | 1.8% |
| **Norway** |  |  |  |
| Elkem ASA, 144A<sup>(e)(f)</sup> | 10253 | 27025 | 1.6% |
| **South Korea** |  |  |  |
| Ecopro BM Co. Ltd.<sup>(e)</sup> | 6 | 483 | 0.0 %<sup>(c)</sup> |
| **United States** |  |  |  |
| Albemarle Corp. | 200 | 16216 | 1.0% |
| Graftech International Ltd.<sup>(e)</sup> | 1320 | 16922 | 1.0% |

---

**USCF ETF TRUST**

**USCF SUSTAINABLE BATTERY METALS STRATEGY FUND**

**CONSOLIDATED SCHEDULE OF INVESTMENTS**

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

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares** | **Value** | **% of Total <br> Net Assets** |
| **Common Stocks (continued)** |  |  |  |
| **United States (continued)** |  |  |  |
| MP Materials Corp.<sup>(e)</sup> | 800 | $53656 | 3.2% |
| Tronox Holdings PLC | 200 | 804 | 0.1% |
|  |  | 87598 | 5.3% |
| **Total Common Stocks** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $250,573) |  | $**334181** | **20.2%** |
| **Total Investments** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $250,573) |  | $**334181** | **20.2%** |
| Other Assets in Excess of Liabilities |  | 1319668 | 79.8% |
| **Total Net Assets** |  | $**1653849** | **100.0%** |

---

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

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

(c) Position
 represents less than 0.05%.

(d) Collateral
 amounted to $224,746 on open Commodity Futures Contracts.

(e) Non-income
 producing security.

(f) Security
 was purchased (sold) pursuant to Rule 144A under the Securities Act of 1933 and may not be resold (repurchased) subject to that rule
 except to qualified institutional buyers. Unless otherwise noted, Rule 144A securities are deemed to be liquid. Total fair value
 of Rule 144A securities amounts to $37,005, which represents 2.2% of net assets as of September 30, 2025.

---

| | |
|:---|:---|
| **<u>Summary of Portfolio Holdings by Country^</u>** | |
| United States | 26.2% |
| China | 20.6 |
| Australia | 16.1 |
| Germany | 11.1 |
| Japan | 8.5 |
| Norway | 8.1 |
| Chile | 5.1 |
| France | 3.8 |
| Brazil | 0.3 |
| South Korea | 0.2 |
|  | 100.0% |

---

**USCF ETF TRUST**

**USCF SUSTAINABLE BATTERY METALS STRATEGY FUND**

**CONSOLIDATED SCHEDULE OF INVESTMENTS**

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

---

| | |
|:---|:---|
| **<u>Summary of Portfolio Holdings by Sector</u>** | **% of Total<br> Net Assets** |
| Basic Materials | 16.4% |
| Industrial | 3.5% |
| Energy | 0.3% |
| Commodity Derivatives | 11.0% |

---

---

| | |
|:---|:---|
| ^ | 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:** 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:** $1657410.59

**Total Liabilities:** $788.30

**Net Assets:** $1656622.29

**Amount of Assets Invested in Other Investment Companies:** $323025.17

**Cash Not Reported:** $1160691.49

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000230777 | 0.21%                | 4.65%                | 11.58%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $39492.57                                  |
| Month 2  | $0.00                    | $38142.44                                  |
| Month 3  | $0.00                    | $12002.07                                  |

**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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Elkem ASA                      | Elkem ASA                                        | CUSIP: 000000000<br>LEI: 549300CVBE06T0SH6T76 | Long             | EC               | CORP              | NO        |     10253 | NS      | $27025.39     | 1.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Tianqi Lithium Corp            | Tianqi Lithium Corp                              | CUSIP: 000000000<br>LEI: 300300IZ1J0MQ8YVEG66 | Long             | EC               | CORP              | CN        |       600 | NS      | $3465.63      | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Jinduicheng Molybdenum Co Ltd  | Jinduicheng Molybdenum Co Ltd                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |      6100 | NS      | $13222.91     | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Xinte Energy Co Ltd            | Xinte Energy Co Ltd                              | CUSIP: 000000000<br>LEI: 300300HSY4IIZWSPSY09 | Long             | EC               | CORP              | CN        |      4000 | NS      | $4251.71      | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Vale SA                        | Vale SA                                          | CUSIP: 91912E105<br>LEI: 254900SMTWBX7RU2SR20 | Long             | EC               | CORP              | BR        |       100 | NS      | $1086.00      | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Ecopro BM Co Ltd               | Ecopro BM Co Ltd                                 | CUSIP: 000000000<br>LEI: 988400KB3FIHJINXCS55 | Long             | EC               | CORP              | KR        |         6 | NS      | $483.23       | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Pilbara Minerals Ltd           | Pilbara Minerals Ltd                             | CUSIP: 000000000<br>LEI: 5299000VV1CZVF5K9C16 | Long             | EC               | CORP              | AU        |      3994 | NS      | $6670.50      | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Ganfeng Lithium Group Co Ltd   | Ganfeng Lithium Group Co Ltd                     | CUSIP: 000000000<br>LEI: 3003006BE6UOHWEOOR42 | Long             | EC               | CORP              | CN        |      1800 | NS      | $9980.46      | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| ICE ENDEX MARKETS B.V.         | ECX EMISSION                                     | CUSIP: 000000000<br>LEI: 549300CZW488L20NT866 | N/A              | DCO              | CORP              | NL        |         2 | NC      | $16125.58     | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Tronox Holdings PLC            | Tronox Holdings PLC                              | CUSIP: 000000000<br>LEI: 549300NRVC84SGJSXV06 | Long             | EC               | CORP              | US        |       200 | NS      | $804.00       | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Sinofibers Technology Co Ltd   | Sinofibers Technology Co Ltd                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |      2700 | NS      | $13353.40     | 0.81%             |  |  |  | No            |                  2 | On Loan: No      |
| Wacker Chemie AG               | Wacker Chemie AG                                 | CUSIP: 000000000<br>LEI: 0NURKC5Q3CJYZPPK5046 | Long             | EC               | CORP              | DE        |       161 | NS      | $12126.12     | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| COMMODITY EXCHANGE, INC.       | SILVER                                           | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DCO              | CORP              | US        |         1 | NC      | $41285.00     | 2.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Mineral Resources Ltd          | Mineral Resources Ltd                            | CUSIP: 000000000<br>LEI: 5299007V1ACKFFX2P066 | Long             | EC               | CORP              | AU        |        78 | NS      | $2126.71      | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Albemarle Corp                 | Albemarle Corp                                   | CUSIP: 012653101<br>LEI: HDBLS2Q6GV1LSKQPBS54 | Long             | EC               | CORP              | US        |       200 | NS      | $16216.00     | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Ningbo Ronbay New Energy Techn | Ningbo Ronbay New Energy Technology Co Ltd       | CUSIP: 000000000<br>LEI: 836800IZGSNBP6FLFG39 | Long             | EC               | CORP              | CN        |       436 | NS      | $1956.29      | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| THE LONDON METAL EXCHANGE      | LME NICKEL                                       | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              | CORP              | GB        |         1 | NC      | $-69.42       | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| GrafTech International Ltd     | GrafTech International Ltd                       | CUSIP: 384313607<br>LEI: 549300GY32W00XP57351 | Long             | EC               | CORP              | US        |      1320 | NS      | $16922.40     | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| XTEMD                          | Xiangtan Electrochemical Scientific Co Ltd       | CUSIP: 000000000<br>LEI: 655600IY5L2BCPGYJV79 | Long             | EC               | CORP              | CN        |      2000 | NS      | $4265.23      | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| COMMODITY EXCHANGE, INC.       | COPPER                                           | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DCO              | CORP              | US        |         1 | NC      | $9587.50      | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Sociedad Quimica y Minera de C | Sociedad Quimica y Minera de Chile SA            | CUSIP: 833635105<br>LEI: TJ88LXZZW5PWIN93ZC81 | Long             | EC               | CORP              | CL        |       400 | NS      | $17192.00     | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| SINGAPORE EXCHANGE LIMITED     | IODEX IO                                         | CUSIP: 000000000<br>LEI: 549300IQ650PPXM76X03 | N/A              | DCO              | CORP              | SG        |         1 | NC      | $95.00        | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| TINCI                          | Guangzhou Tinci Materials Technology Co Ltd      | CUSIP: 000000000<br>LEI: 836800Y28XV3QK34CB65 | Long             | EC               | CORP              | CN        |       500 | NS      | $2677.69      | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Toho Titanium Co Ltd           | Toho Titanium Co Ltd                             | CUSIP: 000000000<br>LEI: 353800CQ82BJ87SIZZ65 | Long             | EC               | CORP              | JP        |       100 | NS      | $1207.98      | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Iluka Resources Ltd            | Iluka Resources Ltd                              | CUSIP: 000000000<br>LEI: 2549009N2Y1F4YNB0955 | Long             | EC               | CORP              | AU        |       575 | NS      | $2412.24      | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| MP Materials Corp              | MP Materials Corp                                | CUSIP: 553368101<br>LEI: 89450063PHPS61USMT84 | Long             | EC               | CORP              | US        |       800 | NS      | $53656.00     | 3.24%             |  |  |  | No            |                  1 | On Loan: No      |
| SGL Carbon SE                  | SGL Carbon SE                                    | CUSIP: 000000000<br>LEI: 52990038IB31TYK07X63 | Long             | EC               | CORP              | DE        |      6728 | NS      | $24902.02     | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| CNRE                           | China Northern Rare Earth Group High-Tech Co Ltd | CUSIP: 000000000<br>LEI: 300300CY5TYMU38UDM49 | Long             | EC               | CORP              | CN        |      1600 | NS      | $10842.66     | 0.65%             |  |  |  | No            |                  2 | On Loan: No      |
| Lynas Rare Earths Ltd          | Lynas Rare Earths Ltd                            | CUSIP: 000000000<br>LEI: 529900SGT9M1FJPXXI35 | Long             | EC               | CORP              | AU        |      3822 | NS      | $42580.24     | 2.57%             |  |  |  | No            |                  1 | On Loan: No      |
| EASPRING                       | Beijing Easpring Material Technology Co Ltd      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |       200 | NS      | $1862.95      | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| COMMODITY EXCHANGE, INC.       | LITHIUM LIOH COME                                | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DCO              | CORP              | US        |        18 | NC      | $11640.00     | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Nippon Denko Co Ltd            | Nippon Denko Co Ltd                              | CUSIP: 000000000<br>LEI: 3538004G9RTDJWY4O927 | Long             | EC               | CORP              | JP        |      2900 | NS      | $6656.74      | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| COMMODITY EXCHANGE, INC.       | COBALT FASTMARKET                                | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DCO              | CORP              | US        |        12 | NC      | $96562.35     | 5.83%             |  |  |  | No            |                  1 | On Loan: No      |
| CAPCHEM                        | Shenzhen Capchem Technology Co Ltd               | CUSIP: 000000000<br>LEI: 83680035MFDI4S2P0866 | Long             | EC               | CORP              | CN        |       300 | NS      | $2246.82      | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Nippon Carbon Co Ltd           | Nippon Carbon Co Ltd                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |       700 | NS      | $20618.21     | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| THE LONDON METAL EXCHANGE      | LME ZINC                                         | CUSIP: 000000000<br>LEI: 213800NB8G5VRT1DXC91 | N/A              | DCO              | CORP              | GB        |         1 | NC      | $4317.00      | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Eramet SA                      | Eramet SA                                        | CUSIP: 000000000<br>LEI: 549300LUH78PG2MP6N64 | Long             | EC               | CORP              | FR        |       194 | NS      | $12719.61     | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| COMMODITY EXCHANGE, INC.       | LITH CARB CIF CJK                                | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DCO              | CORP              | US        |         4 | NC      | $-1480.00     | -0.09%            |  |  |  | No            |                  1 | On Loan: No      |
| Shenzhen Dynanonic Co Ltd      | Shenzhen Dynanonic Co Ltd                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |       100 | NS      | $649.75       | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| COMMODITY EXCHANGE, INC.       | ALUMINUM                                         | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DCO              | CORP              | US        |         2 | NC      | $3087.50      | 0.19%             |  |  |  | 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