USCF ETF TRUST

USCF MIDSTREAM ENERGY INCOME FUND

SCHEDULE OF INVESTMENTS

AT MARCH 31, 2023 (unaudited)

	% of Total Net Assets			Shares		Market Value
Common Stocks		75.2	%
Pipelines		75.2	%
Antero Midstream Corp.		3.8	%		714,229	$	7,492,262
Cheniere Energy, Inc.		7.4	%		91,989		14,497,466
DT Midstream, Inc.		4.1	%		160,669		7,932,229
Enbridge, Inc.		11.0	%		564,064		21,519,042
EnLink Midstream LLC(a)		3.2	%		583,895		6,329,422
Equitrans Midstream Corp.		2.1	%		703,309		4,065,126
Gibson Energy, Inc.		3.1	%		383,729		6,124,466
Hess Midstream LP – Class A		1.8	%		117,578		3,402,707
Keyera Corp.		4.5	%		398,141		8,705,059
Kinder Morgan, Inc.		4.5	%		503,411		8,814,727
ONEOK, Inc.		4.6	%		141,862		9,013,912
Pembina Pipeline Corp.		4.5	%		269,085		8,718,354
Plains GP Holdings LP – Class A(a)		6.3	%		932,412		12,233,245
Targa Resources Corp.		6.3	%		167,540		12,222,043
TC Energy Corp.		3.8	%		190,617		7,416,908
Williams Cos., Inc. (The)		4.2	%		276,605		8,259,425
							146,746,393
Total Common Stocks
(Cost $128,788,635)		75.2	%				146,746,393
Master Limited Partnerships		23.9	%
Pipelines		23.9	%
Crestwood Equity Partners LP		0.3	%		24,117		601,237
Energy Transfer LP		8.7	%		1,354,493		16,890,528
Enterprise Products Partners LP		6.9	%		519,380		13,451,942
Holly Energy Partners LP		0.2	%		23,839		414,083
Magellan Midstream Partners LP		2.4	%		85,909		4,661,422
MPLX LP		4.2	%		237,888		8,195,242
Western Midstream Partners LP		1.2	%		92,830		2,447,927
							46,662,381
Total Master Limited Partnerships
(Cost $33,793,619)		23.9	%				46,662,381
Money Market Funds		0.6	%
Dreyfus Government Cash Management Fund, Institutional Shares, 4.71%(b)
(Cost $1,185,686)		0.6	%		1,185,686		1,185,686
Total Investments
(Cost $163,767,940)		99.7	%				194,594,460
Other Assets in Excess of Liabilities		0.3	%				540,164
Total Net Assets		100.0	%			$	195,134,624

(a)	Non-income producing security.
(b)	Reflects the 7-day yield at March 31, 2023.

USCF ETF TRUST

USCF MIDSTREAM ENERGY INCOME FUND

SCHEDULE OF INVESTMENTS

AT MARCH 31, 2023 (unaudited) (continued)

Summary of Investments by Country^
United States	73.0	%
Canada	27.0
	100.0	%

Summary of Investments by Sector^
Energy	99.4	%
Money Market Fund	0.6
	100.0	%

^ As a percentage of total investments.