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USCI on NYSE

United States Commodity Index Funds Trust

Commodity contracts brokers and dealers company, listed on NYSE (USCI)1

In its 2026 annual report the company says: “The United States Commodity Index Funds Trust is a Delaware statutory trust formed on December 21, 2009.”3 It is headquartered in Walnut Creek, California.1

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Last updated Oct 21, 2026.

Overview

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  • TickerUSCI on NYSE1
  • IndustryCommodity Contracts Brokers & Dealers1
  • HeadquartersWalnut Creek, California1
  • Business address1850 Mt. Diablo Blvd., Suite 640, Walnut Creek, Ca 945962
  • Filer categoryAccelerated filer2

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The United States Commodity Index Funds Trust (the “Trust”) is a Delaware statutory trust formed on December 21, 2009. The Trust is a series trust formed pursuant to the Delaware Statutory Trust Act and is organized into three separate series (each series, a “Trust Series” and collectively, the “Trust Series”). As of December 31, 2025, the Trust includes the United States Commodity Index Fund (“USCI”), a commodity pool formed on April 1, 2010 and first made available to the public on August 10, 2010, and the United States Copper Index Fund (“CPER”), a commodity pool formed on November 26, 2010 and first made available to the public on November 15, 2011. USCI and CPER each issues shares (“shares”) that may be purchased and sold on the NYSE Arca, Inc. (“NYSE Arca”).3 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2020

109.6%Net margin4
290.4%Revenue growth, 20205

Financial statements

Revenue675-$16.6M in 2020−83% since 2015
-$100.0M-$50.0M0$50.0M2015: -$98.4M-$98.4M20152016: -$9.2M-$9.2M2016−91%2017: $34.1M$34.1M20172018: -$68.9M-$68.9M20182019: -$4.2M-$4.2M2019−94%2020: -$16.6M-$16.6M2020+290%
Net income6754-$18.1M in 2020−83% since 2015
-$150.0M-$100.0M-$50.0M0$50.0M2015: -$104.7M-$104.7M20152016: -$15.5M-$15.5M2016−85%2017: $28.6M$28.6M20172018: -$74.9M-$74.9M20182019: -$8.1M-$8.1M2019−89%2020: -$18.1M-$18.1M2020+123%
Fiscal year201520162017201820192020
Revenue-$98.4M6-$9.2M6$34.1M7-$68.9M5-$4.2M5-$16.6M5
Net income-$104.7M6-$15.5M6$28.6M7-$74.9M5-$8.1M4-$18.1M4

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Leadership

Who has led United States Commodity Index Funds Trust, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Nicholas Daniel Gerber2010–2011
  2. John P. Love2015–2016

Chair

  1. Nicholas Daniel Gerber2010–2011

President

  1. Nicholas Daniel Gerber2010–2011
  2. John P. Love2015–2016

Chief financial officer

  1. Howard Mah2010–2015
  2. Stuart P. Crumbaugh2015
201520202025
Board members and other officers (10)

Timeline

  1. Sep 29, 20268-K Regulation FD disclosure25
  2. Sep 25, 20268-K Entered a material agreement26
  3. Aug 28, 20268-K Regulation FD disclosure27
  4. Jul 29, 20268-K Regulation FD disclosure28
  5. Jun 29, 20268-K Regulation FD disclosure29
  6. May 28, 20268-K Regulation FD disclosure30
  7. Apr 29, 20268-K Regulation FD disclosure31
  8. Mar 27, 20268-K Regulation FD disclosure32
  9. Mar 27, 20268-K Regulation FD disclosure33
  10. Mar 20, 20268-K Regulation FD disclosure34
  11. Feb 27, 20268-K Regulation FD disclosure35
  12. Jan 29, 20268-K Regulation FD disclosure36
  13. Jul 24, 2015New chief executive John P. Love becomes CEO13
  14. Jul 30, 2010New chief executive Nicholas Daniel Gerber becomes CEO14

Filings

151 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 77 major events, 2 insider forms, 52 other. The latest 20:

  1. Sep 29, 20268-K EDGAR
  2. Sep 25, 20268-K EDGAR
  3. Aug 28, 20268-K EDGAR
  4. Aug 7, 202610-Q EDGAR
  5. Jul 29, 20268-K EDGAR
  6. Jun 30, 2026424B3 EDGAR
  7. Jun 29, 20268-K EDGAR
  8. May 28, 20268-K EDGAR
  9. May 14, 2026POS EX EDGAR
  10. May 14, 2026POS EX EDGAR
  11. May 8, 202610-Q EDGAR
  12. Apr 29, 20268-K EDGAR
  13. Apr 24, 2026424B3 EDGAR
  14. Apr 24, 2026424B3 EDGAR
  15. Mar 31, 2026424I EDGAR
  16. Mar 30, 2026424I EDGAR
  17. Mar 27, 20268-K EDGAR
  18. Mar 27, 20268-K EDGAR
  19. Mar 20, 20268-K EDGAR
  20. Feb 27, 202610-K EDGAR

The 151 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 65. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Matauro, LLC364,568$33.8M4.5%+18,884
Morgan Stanley164,771$15.3M0.0%+15,968
Wells Fargo & Company/mn148,283$13.7M0.0%−253
Axiom Financial Strategies, LLC83,230$7.7M2.4%+19,892
LPL Financial LLC68,079$6.3M0.0%−6,700
Osaic Holdings, Inc.56,734$5.3M0.0%+8,320
Cetera Investment Advisers34,658$3.2M0.0%−4,724
Royal Bank Of Canada26,983$2.5M0.0%+1,191
Pekin Hardy Strauss, Inc.26,057$2.4M0.2%−75
Caz Investments LP24,960$2.3M0.8%+9,360
Winter & Associates, Inc.20,377$1.9M1.4%+7,832
Focus Partners Advisor Solutions, LLC20,377$1.9M0.0%+7,767
Cliftonlarsonallen Wealth Advisors, LLC19,923$1.8M0.0%No change
Mml Investors Services, LLC18,368$1.7M0.0%+4,145
Susquehanna International Group, Llp16,691$1.5M0.0%−19,878
Federation des caisses Desjardins du Quebec16,317$1.5M0.0%+6,805
Arkansas Financial Group, Inc.15,955$1.5M0.2%+2,356
Ameriprise Financial Inc14,949$1.4M0.0%−23,814
Mission Wealth Management, LP13,054$1.2M0.0%+44
Cerity Partners LLC8,968$830.8K0.0%No change
DV Trading LLC8,500$787.4K0.1%No change
Kestra Advisory Services, LLC8,304$769.3K0.0%No change
Asset Dedication, LLC8,289$767.9K0.0%−123
Merit Financial Group, LLC8,238$763.2K0.0%No change
UBS Group AG7,491$694.0K0.0%−334

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How United States Commodity Index Funds Trust is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARUnited States Commodity Index Funds Trust1
  • CIK0001479247
  • Employer ID (EIN)27-15376553
  • Filer statusAccelerated filer not an emerging growth company; not a smaller reporting company; not a shell company3
  • Incorporated inDelaware3
  • Fiscal year endsDecember 311
  • Industry code (SIC)6221 Commodity Contracts Brokers & Dealers1
  • SEC reviewing officeOffice of Crypto Assets, Division of Corporation Finance1
  • Business address1850 Mt. Diablo Blvd., Suite 640, Walnut Creek, CA 945961
  • Phone510-522-96001
  • Shares outstanding3,650,000 United States Commodity Index Fund shares; 24,350,000 United States Copper Index Fund shares; 28,000,000 shares as of Feb 23, 20263
  • Public float$457.3M as of Jun 30, 20253
  • AuditorCOHEN & COMPANY, LTD., Philadelphia, Pennsylvania PCAOB ID 925; it also attests to the company’s internal control over financial reporting3
  • On EDGAR sinceDec 24, 20091
  • Filings715 in all: 8-K (250), 424B3 (124), 10-Q (49), 3 (43), SC 13D/A (43), EFFECT (32), POS AM (26), CORRESP (19)1
    All 29 form types

    UPLOAD (18), 10-K (16), 4 (14), S-3 (14), S-1/A (12), S-1 (10), RW (9), S-3/A (7), 424I (6), SC 13D (5), 10-K/A (2), 25-NSE (2), 8-A12B (2), CERTNYS (2), POS EX (2), SC 13G (2), SC 13G/A (2), 10-Q/A (1), 15-15D (1), 8-K/A (1), CERTARCA (1)

  • Latest filingsAnnual report (10-K) Feb 27, 2026
    Quarterly report (10-Q) Aug 7, 2026
    Latest 8-K (8-K) Sep 29, 2026

Securities registered for trading

ClassSymbolExchange
Shares of United States Commodity Index FundUSCINYSE Arca
Shares of United States Copper Index FundCPERNYSE Arca

From the cover page of the 10-K filed Feb 27, 2026 (Section 12(b) of the Exchange Act).3

Risk factors and legal proceedings

The risks United States Commodity Index Funds Trust names in Item 1A of its 10-K filed Feb 27, 2026: 65 risks under these headings, as written.3

  • Investment Risk
  • The NAV of a Trust Series shares relates directly to the value of its assets invested in accordance with the Applicable Index and other assets held by a Trust Series and fluctuations in the prices of these assets could materially adversely affect an investment in a Trust Series’ shares. Past performance is not necessarily indicative of future results; all or substantially all of an investment in a Trust Series could be lost.
  • Price volatility may possibly cause the total loss of your investment.
  • Natural disasters, public health disruptions (such as the COVID-19 pandemic), and international armed conflicts could impact the price of commodities and/or the value, pricing and liquidity of a Trust Series’ investments or assets which, in turn, could cause the loss of your investment in the Trust Series.
  • Historical performance of a Trust Series and the Applicable Benchmark Component Futures Contracts is not indicative of future performance.
  • Correlation Risk
  • The market price at which investors buy or sell shares may be significantly less or more than NAV.
  • Daily percentage changes in a Trust Series’ NAV may not correlate with daily percentage changes in the price of the Applicable Index.
  • Daily percentage changes in the price of the Applicable Benchmark Component Futures Contract may not correlate with daily percentage changes in the spot price of the corresponding commodity.
  • The price relationship between each Applicable Index at any point in time and the Futures Contracts that will become the Applicable Benchmark Component Futures Contracts on the next rebalancing date will vary and may impact both a Trust Series’ total return and the degree to which its total return tracks that of commodity price indices.
  • Accountability levels, position limits, and daily price fluctuation limits set by the exchanges have the potential to cause tracking error, which could cause the price of shares to substantially vary from the price of the Applicable Index.
  • Risk mitigation measures that could be imposed by the Trust Series’ FCMs have the potential to cause tracking error by limiting a Trust Series’ investments, including its ability to fully invest in the Applicable Benchmark Component Futures Contract and other Futures Contracts, which means that changes in the price of the Trust Series’ shares could substantially vary from changes in the prices of the Applicable Benchmark Component Futures Contracts.
The other 55 risks
  • An investor’s tax liability may exceed the amount of distributions, if any, on its shares.
  • An investor’s allocable share of taxable income or loss may differ from its economic income or loss on the shares.
  • Items of income, gain, deduction, loss and credit with respect to shares could be reallocated, for U.S. federal income tax purposes and the Trust Series could be liable for U.S. federal income tax, if the IRS does not accept the assumptions and conventions applied by the Trust Series in allocating those items, with potential adverse consequences for an investor.
  • Each Trust Series could be treated as a corporation for U.S. federal income tax purposes, which may substantially reduce the value of the shares.
  • The Trust is organized as a Delaware statutory trust in accordance with the provisions of the Trust Agreement and applicable state law, but each Trust Series is treated as a partnership for U.S. federal income tax purposes, and therefore, each Trust Series has a more complex tax treatment than traditional mutual funds.
  • If the Trust Series are required to withhold tax with respect to any non-U.S. shareholders, the cost of such withholding may be borne by all shareholders.
  • The impact of changes in U.S. federal income tax laws on each Trust Series is uncertain.
  • OTC Contract Risk
  • Each Trust Series will be subject to credit risk with respect to counterparties to OTC contracts entered into by the Trust on behalf of a Trust Series.
  • Valuing OTC derivatives may be less certain than valuing exchange-traded and/or cleared financial instruments.
  • Each Trust Series’ rights under an OTC contract may be restricted by regulations.
  • The use of swap agreements may expose a Trust Series to early termination risk, which could result in significant losses to the Trust Series.
  • Neither Trust Series is leveraged, but a Trust Series could become leveraged if it had insufficient assets to completely meet its margin or collateral requirements relating to its investments.
  • A Trust Series may temporarily limit the offering of Creation Baskets.
  • The Trust Series pay fees and expenses that are incurred regardless of whether they are profitable.
  • You will have no rights to participate in the management of a Trust Series and will have to rely on the duties and judgment of USCF to manage the Trust Series.
  • Certain of a Trust Series’ investments could be illiquid, which could cause large losses to investors at any time or from time to time.
  • The Trust Series are not actively managed and their investment objectives are for the daily changes in percentage terms of their shares’ per share NAV for any period of 30 successive valuation days to be within plus/minus ten percent (10%) of the average daily percentage change in the price of the Applicable Benchmark Component Futures Contracts over the same period.
  • A Trust Series may not meet the listing standards of NYSE Arca, which would adversely impact an investor’s ability to sell shares.
  • The NYSE Arca may halt trading in a Trust Series’ shares, which would adversely impact an investor’s ability to sell shares.
  • The liquidity of a Trust Series’ shares may also be affected by the withdrawal from participation of Authorized Participants, which could adversely affect the market price of the shares.
  • Shareholders that are not Authorized Participants may only purchase or sell their shares in secondary trading markets, and the conditions associated with trading in secondary markets may adversely affect investors’ investment in the shares.
  • The lack of an active trading market for a Trust Series’ shares may result in losses on an investor’s investment in a Trust Series at the time the investor sells the shares.
  • SummerHaven is leanly staffed and relies heavily on key personnel to manage advisory activities.
  • USCF’s LLC Agreement provides limited authority to the Non-Management Directors, and any Director of USCF may be removed by USCF’s parent company, which is wholly owned by The Marygold Companies, Inc., a controlled public company where the majority of shares are owned by Nicholas D. Gerber along with certain of his family members and certain other shareholders.
  • There is a risk that a Trust Series will not earn trading gains sufficient to compensate for the fees and expenses that it must pay and as such a Trust Series may not earn any profit.
  • Each Trust Series is subject to extensive regulatory reporting and compliance.
  • Fewer representative commodities may result in greater Applicable Index volatility.
  • Regulatory changes or actions, including the implementation of new legislation, are impossible to predict but may significantly and adversely affect a Trust Series.
  • The Trust is not a registered investment company, so shareholders do not have the protections of the 1940 Act.
  • Trading in international markets could expose a Trust Series to credit and regulatory risk.
  • Each Trust Series and USCF may have conflicts of interest, which may permit them to favor their own interests to the detriment of shareholders.
  • The Trust Series, USCF and SummerHaven may have conflicts of interest, which may cause them to favor their own interests to the detriment of shareholders.
  • Shareholders have only very limited voting rights and have the power to replace USCF only under specific circumstances. Shareholders do not participate in the management of a Trust Series and do not control USCF, so they do not have any influence over basic matters that affect each Trust Series.
  • A Trust Series could terminate at any time and cause the liquidation and potential loss of an investor’s investment and could upset the overall maturity and timing of an investor’s investment portfolio.
  • The Trust Series do not expect to make cash distributions.
  • An unanticipated number of Redemption Basket requests during a short period of time could have an adverse effect on a Trust Series’ NAV.
  • The suspension in the ability of Authorized Participants to purchase Creation Baskets could cause a Trust Series’ NAV to differ materially from its trading price.
  • A Trust Series may determine that, to allow it to reinvest the proceeds from sales of its Creation Baskets in currently permitted assets in a manner that meets its investment objective, it may limit its offers of Creation Baskets.
  • The Trust Series may be subject to interest rate risk, which may prevent them from investing fully at prevailing rates until any current investments in Treasuries mature in order to avoid selling those investments at a loss.
  • As inflation increases, the present value of a Trust Series’ assets may decline.
  • A Trust Series may potentially lose money by investing in government money market funds.
  • The failure or bankruptcy of a clearing broker could result in a substantial loss of the Trust Series’ assets and could impair the Trust Series in its ability to execute trades.
  • The failure or bankruptcy of the Trust Series’ Custodian could result in a substantial loss of the Trust Series’ assets.
  • The liability of SHIM and SummerHaven is limited, and the value of the shares may be adversely affected if USCF and any Trust Series are required to indemnify SHIM and/or SummerHaven.
  • The liability of USCF and the Trustee are limited, and the value of the shares will be adversely affected if any Trust Series is required to indemnify the Trustee or USCF.
  • Although the shares of each Trust Series are limited liability investments, certain circumstances such as bankruptcy or indemnification of a Trust Series by a shareholder will increase the shareholder’s liability.
  • Investors cannot be assured of the continuation of the agreement between SummerHaven and USCF for use of an Applicable Index, and discontinuance of an Applicable Index may be detrimental to a Trust Series.
  • Investors cannot be assured of SummerHaven’s continued services, and discontinuance may be detrimental to a Trust Series.
  • All of the Trust Series are series of the Trust and, as a result, a court could potentially conclude that the assets and liabilities of one Trust Series are not segregated from those of another Trust Series, thereby potentially exposing assets in one Trust Series to the liabilities of another Trust Series.
  • The Trust Agreement limits the forum in which claims may be brought against USCF, the Trust, the Trustee or their respective directors and officers.
  • USCF and the Trustee are not obligated to prosecute any action, suit or other proceeding in respect of any Trust Series property.
  • Competing claims of intellectual property rights may adversely affect a Trust Series and an investment in a Trust Series’ shares.
  • Due to the increased use of technologies, intentional and unintentional cyber-attacks pose operational and information security risks.
  • A Trust Series’ investment returns could be negatively affected by climate change and greenhouse gas restrictions.
  • USCF is the subject of class action, derivative, and other litigation. In light of the inherent uncertainties involved in litigation matters, an adverse outcome in this litigation could materially adversely affect USCF’s financial condition.

Legal proceedings

From time to time, a Trust Series may be involved in legal proceedings arising primarily from the ordinary course of its business. None of the Trust Series is currently party to any material legal proceedings. In addition, USCF, as sponsor of the Trust and general partner of the Related Public Funds may, from time to time, be involved in litigation arising out of its operations in the ordinary course of its business. Except as described herein, USCF is not currently party to any material legal proceedings.

Optimum Strategies Action

On April 6, 2022, USO and USCF were named as defendants in an action filed by Optimum Strategies Fund I, LP, a purported investor in call option contracts on USO (the “Optimum Strategies Action”). The action was in the U.S. District Court for the District of Connecticut at Civil Action No. 3:22-cv-00511.

The Optimum Strategies Action asserted claims under the Securities Exchange Act of 1934, as amended (the “1934 Act”), Rule 10b-5 thereunder, and the Connecticut Uniform Securities Act (“CUSA”). It purported to challenge statements in registration statements that became effective in February 2020, March 2020, and on April 20, 2020, as well as public statements between February 2020 and May 2020, in connection with certain extraordinary market conditions and the attendant risks that caused the demand for oil to fall precipitously, including the COVID-19 global pandemic and the Saudi Arabia-Russia oil price war. The complaint was seeking damages, interest, costs, attorney’s fees, and equitable relief.

The opening of Item 3, Legal Proceedings.3

Sources

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