Schedule of Investments - Teucrium Wheat Fund

3 Months Ended

Mar. 31, 2026

Notes to Financial Statements

Schedule of Investments [Text Block]

TEUCRIUM COMMODITY TRUST

COMBINED SCHEDULE OF INVESTMENTS**

March 31, 2026

(Unaudited)

														*Percentage of*
Description: Assets		*Yield*				*Cost*				*Fair Value*				*Net Assets*				*Shares*

Cash equivalents
Money market funds
U.S. Bank Deposit Account			3.450	%		$	182,859,868			$	182,859,868				24.92	%			182,859,868
Goldman Sachs Financial Square Government Fund - Institutional Class			3.550	%			232,294,559				232,294,559				31.65				232,294,559
Total money market funds						$	415,154,427			$	415,154,427				56.57	%

	*Maturity*														*Percentage of*				*Principal*
	*Date*		*Yield*				*Cost*				*Fair Value*				*Net Assets*				*Amount*
Commercial Paper
BASF SE	June 1, 2026			3.632	%		$	9,911,000			$	9,939,000				1.35	%			10,000,000
Bell Canada, Inc.	April 7, 2026			3.623	%			4,968,000				4,997,000				0.68				5,000,000
Bell Canada, Inc.	June 10, 2026			3.885	%			9,910,166				9,925,138				1.35				10,000,000
Brookfield Infrastructure Holdings (Canada) Inc.	April 21, 2026			3.721	%			4,972,250				4,989,722				0.68				5,000,000
Brookfield Infrastructure Holdings (Canada) Inc.	April 21, 2026			3.716	%			7,468,395				7,484,583				1.02				7,500,000
Brookfield Infrastructure Holdings (Canada) Inc.	April 23, 2026			3.670	%			4,972,118				4,988,848				0.68				5,000,000
Crown Castle Inc.	April 16, 2026			3.812	%			4,984,694				4,992,084				0.68				5,000,000
Crown Castle Inc.	April 21, 2026			3.911	%			4,885,668				4,889,384				0.67				4,900,000
Entergy Corporation	April 23, 2026			3.630	%			7,437,750				7,483,500				1.02				7,500,000
Entergy Corporation	April 29, 2026			3.633	%			4,955,000				4,986,000				0.68				5,000,000
Entergy Corporation	May 21, 2026			3.630	%			4,958,500				4,975,000				0.68				5,000,000
General Motors Financial Company, Inc.	April 13, 2026			3.629	%			4,973,426				4,993,984				0.68				5,000,000
General Motors Financial Company, Inc.	May 21, 2026			3.639	%			4,960,390				4,974,930				0.68				5,000,000
Glencore Funding LLC	May 7, 2026			3.640	%			4,958,385				4,981,950				0.68				5,000,000
Harley-Davidson Financial Services, Inc.	April 16, 2026			3.910	%			9,975,083				9,983,749				1.36				10,000,000
Harley-Davidson Financial Services, Inc.	April 17, 2026			4.014	%			9,965,556				9,982,222				1.36				10,000,000
Hyundai Capital America	May 4, 2026			3.838	%			4,777,080				4,783,192				0.65				4,800,000
Hyundai Capital America	May 6, 2026			3.850	%			9,947,869				9,962,764				1.36				10,000,000
Hyundai Capital America	May 7, 2026			3.817	%			4,977,306				4,981,000				0.68				5,000,000
Jabil Inc.	April 30, 2026			3.823	%			4,970,444				4,984,694				0.68				5,000,000
Jabil Inc.	May 13, 2026			3.961	%			4,973,186				4,977,016				0.68				5,000,000
Keurig Dr Pepper Inc.	April 24, 2026			3.667	%			7,465,782				7,482,510				1.02				7,500,000
Keurig Dr Pepper Inc.	April 30, 2026			4.017	%			4,978,889				4,983,889				0.68				5,000,000
Keurig Dr Pepper Inc.	May 7, 2026			4.018	%			5,972,667				5,976,000				0.81				6,000,000
ONEOK, Inc.	April 24, 2026			3.862	%			4,983,958				4,987,702				0.68				5,000,000
Oracle Corporation	May 1, 2026			3.995	%			7,429,096				7,475,266				1.02				7,500,000
Stanley Black & Decker, Inc.	April 2, 2026			3.670	%			7,478,650				7,499,238				1.02				7,500,000
Stanley Black & Decker, Inc.	April 30, 2026			3.918	%			9,953,416				9,968,584				1.36				10,000,000
TELUS Corporation	June 5, 2026			3.842	%			7,431,783				7,448,441				1.01				7,500,000
VW Credit, Inc.	June 4, 2026			3.981	%			4,961,048				4,964,888				0.68				5,000,000
Total Commercial Paper							$	194,557,555			$	195,042,278				26.58	%
Total Cash Equivalents											$	610,196,705				83.15	%

		*Number of*								*Percentage of*				*Notional Amount*
		*Contracts*				*Fair Value*				*Net Assets*				*(Long Exposure)*
Commodity futures contracts
United States corn futures contracts
CBOT Corn Futures DEC26			4,433			$	130,097				0.02	%			107,334,013

United States soybean futures contracts
CBOT soybean futures JUL26			326				1,145,408				0.16				19,331,800
CBOT soybean futures NOV26			288				680,265				0.09				16,668,000

United States sugar futures contracts
ICE sugar futures JUL26			1,357				520,985				0.07				23,831,091
ICE sugar futures OCT26			1,136				805,348				0.11				20,420,736
ICE sugar futures MAR27			1,275				281,523				0.04				23,833,320

United States wheat futures contracts
CBOT wheat futures JUL26			3,393				6,951,687				0.95				106,285,725
CBOT wheat futures SEP26			2,854				2,031,364				0.28				91,078,275
CBOT wheat futures DEC26			3,247				4,111,413				0.56				106,258,075
Total commodity futures contracts						$	16,658,090				2.28	%		$	515,041,035

		*Number of*								*Percentage of*				*Notional Amount*
Description: Liabilities		*Contracts*				*Fair Value*				*Net Assets*				*(Long Exposure)*

Commodity futures contracts
United States corn futures contracts
CBOT Corn Futures JUL26			4,586			$	637,241				0.09	%		$	107,369,725
CBOT Corn Futures SEP26			3,913				1,172,706				0.16				92,004,413

United States soybean futures contracts
CBOT soybean futures NOV27			350				20,562				0.00				19,490,625
Total commodity futures contracts						$	1,830,509				0.25	%		$	218,864,763

										*Percentage of*
Exchange-traded funds*		*Cost*				*Fair Value*				*Net Assets*				*Shares*
Teucrium Corn Fund		$	8,134,360			$	7,603,514				1.04	%			414,618
Teucrium Soybean Fund			7,794,246				7,661,665				1.04				314,058
Teucrium Sugar Fund			7,192,959				7,548,092				1.03				723,427
Teucrium Wheat Fund			8,179,301				7,682,288				1.05				327,169
Total exchange-traded funds		$	31,300,866			$	30,495,559				4.16	%

*The Trust eliminates the shares owned by the Teucrium Agricultural Fund from its combined statements of assets and liabilities due to the fact that these represent holdings of the other four Funds (“Underlying Funds”) owned by the Teucrium Agricultural Fund, which are included as shares outstanding of the Underlying Funds.

**Includes the 7RCC Spot Bitcoin and Carbon Credit Futures ETF ("BTCK"), which was organized as a series of the Teucrium Commodity Trust on September 17, 2025, and which issued four shares at a price of $25.00 per share on December 10, 2025. BTCK has not commenced operations as of March 31, 2026.

The accompanying notes are an integral part of these financial statements.

TEUCRIUM COMMODITY TRUST

COMBINED SCHEDULE OF INVESTMENTS**

December 31, 2025

														*Percentage of*
Description: Assets		*Yield*				*Cost*				*Fair Value*				*Net Assets*				*Shares*

Cash equivalents
Money market funds
U.S. Bank Deposit Account			4.200	%		$	14,099,436			$	14,099,436				6.60	%			14,099,436
Goldman Sachs Financial Square Government Fund - Institutional Class			4.410	%			68,096,540				68,096,540				31.88				68,096,540
Total money market funds						$	82,195,976			$	82,195,976				38.48	%

	*Maturity*														*Percentage of*				*Principal*
	*Date*		*Yield*				*Cost*				*Fair Value*				*Net Assets*				*Amount*
Commercial Paper
Bell Canada, Inc.	March 4, 2026			3.844	%		$	2,477,775			$	2,483,596				1.16	%			2,500,000
Bell Canada, Inc.	January 22, 2026			3.876	%			4,966,313				4,988,771				2.34				5,000,000
Brookfield Infrastructure Holdings (Canada) Inc.	January 22, 2026			4.035	%			4,957,222				4,988,333				2.34				5,000,000
Brookfield Infrastructure Holdings (Canada) Inc.	January 29, 2026			3.931	%			4,961,000				4,984,834				2.33				5,000,000
Brookfield Infrastructure Holdings (Canada) Inc.	February 19, 2026			3.883	%			4,957,756				4,973,798				2.33				5,000,000
Crown Castle Inc.	January 20, 2026			3.854	%			4,982,400				4,989,867				2.34				5,000,000
Crown Castle Inc.	January 22, 2026			3.855	%			2,490,400				2,494,400				1.17				2,500,000
Glencore Funding LLC	January 14, 2026			3.822	%			4,970,972				4,993,139				2.34				5,000,000
Glencore Funding LLC	January 30, 2026			3.870	%			7,442,400				7,476,800				3.50				7,500,000
Harley-Davidson Financial Services, Inc.	March 3, 2026			3.989	%			4,950,626				4,966,534				2.33				5,000,000
Harley-Davidson Financial Services, Inc.	March 5, 2026			3.782	%			4,958,334				4,967,188				2.33				5,000,000
Harley-Davidson Financial Services, Inc.	March 10, 2026			3.987	%			7,425,975				7,444,070				3.49				7,500,000
Hyundai Capital America	January 8, 2026			3.927	%			7,448,813				7,494,312				3.51				7,500,000
Mondelez International, Inc.	February 2, 2026			3.824	%			4,968,862				4,983,111				2.33				5,000,000
Oracle Corporation	February 4, 2026			3.719	%			7,462,229				7,473,791				3.50				7,500,000
Oracle Corporation	March 11, 2026			3.862	%			7,434,604				7,444,972				3.49				7,500,000
Oracle Corporation	March 25, 2026			3.793	%			4,956,134				4,956,656				2.32				5,000,000
Total Commercial Paper							$	91,811,815			$	92,104,172				43.15	%
Total Cash Equivalents											$	174,300,148				81.63	%

		*Number of*								*Percentage of*				*Notional Amount*
		*Contracts*				*Fair Value*				*Net Assets*				*(Long Exposure)*
Commodity futures contracts
United States corn futures contracts
CBOT corn futures DEC26			716			$	50,255				0.02	%		$	16,485,900

		*Number of*								*Percentage of*				*Notional Amount*
Description: Liabilities		*Contracts*				*Fair Value*				*Net Assets*				*(Long Exposure)*

Commodity futures contracts
United States corn futures contracts
CBOT corn futures MAY26			732			$	13,235				0.01	%		$	16,405,950
CBOT corn futures JUL26			620				157,550				0.07				14,089,500

United States soybean futures contracts
CBOT soybean futures MAR26			259				859,062				0.40				13,565,125
CBOT soybean futures MAY26			220				1,074,702				0.50				11,671,000
CBOT soybean futures NOV26			256				251,463				0.12				13,625,600

United States sugar futures contracts
ICE sugar futures MAY26			311				525,043				0.25				5,106,371
ICE sugar futures JUL26			267				226,844				0.11				4,398,878
ICE sugar futures MAR27			294				398,730				0.19				5,182,867

United States wheat futures contracts
CBOT wheat futures MAY26			1,521				2,253,008				1.05				39,431,925
CBOT wheat futures JUL26			1,276				1,137,701				0.53				33,893,750
CBOT wheat futures DEC26			1,406				3,924,119				1.84				39,701,925
Total commodity futures contracts						$	10,821,457				5.07	%		$	197,072,891

										*Percentage of*
Exchange-traded funds*		*Cost*				*Fair Value*				*Net Assets*				*Shares*
Teucrium Corn Fund		$	2,188,329			$	1,581,916				0.74	%			89,213
Teucrium Soybean Fund			1,899,004				1,542,463				0.72				70,481
Teucrium Sugar Fund			1,515,628				1,596,794				0.75				163,083
Teucrium Wheat Fund			2,553,727				1,577,156				0.74				78,887
Total exchange-traded funds		$	8,156,688			$	6,298,329				2.95	%

*The Trust eliminates the shares owned by the Teucrium Agricultural Fund from its combined statements of assets and liabilities due to the fact that these represent holdings of the Underlying Funds owned by the Teucrium Agricultural Fund, which are included as shares outstanding of the Underlying Funds.

**Includes the 7RCC Spot Bitcoin and Carbon Credit Futures ETF ("BTCK"), which was organized as a series of the Teucrium Commodity Trust on September 17, 2025, and which issued four shares at a price of $25.00 per share on December 10, 2025. BTCK has not commenced operations as of March 31, 2026.

The accompanying notes are an integral part of these financial statements.

Teucrium Wheat Fund [Member]

Notes to Financial Statements

Schedule of Investments [Text Block]

TEUCRIUM WHEAT FUND

SCHEDULE OF INVESTMENTS

March 31, 2026

(Unaudited)

														*Percentage of*
Description: Assets		*Yield*				*Cost*				*Fair Value*				*Net Assets*				*Shares*

Cash equivalents
Money market funds
U.S. Bank Deposit Account			3.450	%		$	47,331,290			$	47,331,290				15.59	%			47,331,290
Goldman Sachs Financial Square Government Fund - Institutional Class			3.550	%			103,641,348				103,641,348				34.14				103,641,348
Total money market funds						$	150,972,638			$	150,972,638				49.73	%

	*Maturity*														*Percentage of*				*Principal*
	*Date*		*Yield*				*Cost*				*Fair Value*				*Net Assets*				*Amount*
Commercial Paper
BASF SE	June 1, 2026			3.632	%		$	4,955,500			$	4,969,500				1.64	%			5,000,000
Bell Canada, Inc.	June 10, 2026			3.885	%			4,955,083				4,962,569				1.63				5,000,000
Brookfield Infrastructure Holdings (Canada) Inc.	April 21, 2026			3.716	%			2,489,465				2,494,861				0.82				2,500,000
Brookfield Infrastructure Holdings (Canada) Inc.	April 23, 2026			3.670	%			2,486,059				2,494,424				0.82				2,500,000
Entergy Corporation	April 23, 2026			3.630	%			4,958,500				4,989,000				1.64				5,000,000
Entergy Corporation	April 29, 2026			3.633	%			2,477,500				2,493,000				0.82				2,500,000
Entergy Corporation	May 21, 2026			3.630	%			4,958,500				4,975,000				1.64				5,000,000
General Motors Financial Company, Inc.	April 13, 2026			3.629	%			2,486,713				2,496,992				0.82				2,500,000
Glencore Funding LLC	May 7, 2026			3.640	%			4,958,385				4,981,950				1.64				5,000,000
Harley-Davidson Financial Services, Inc.	April 17, 2026			4.014	%			4,982,778				4,991,111				1.64				5,000,000
Hyundai Capital America	May 4, 2026			3.838	%			4,777,080				4,783,192				1.58				4,800,000
Hyundai Capital America	May 6, 2026			3.850	%			7,460,902				7,472,073				2.46				7,500,000
Hyundai Capital America	May 7, 2026			3.817	%			2,488,653				2,490,500				0.82				2,500,000
Jabil Inc.	April 30, 2026			3.823	%			2,485,222				2,492,347				0.82				2,500,000
Jabil Inc.	May 13, 2026			3.961	%			2,486,593				2,488,508				0.82				2,500,000
Keurig Dr Pepper Inc.	April 24, 2026			3.667	%			4,977,188				4,988,340				1.64				5,000,000
Keurig Dr Pepper Inc.	April 30, 2026			4.017	%			4,978,889				4,983,889				1.64				5,000,000
ONEOK, Inc.	April 24, 2026			3.862	%			2,491,979				2,493,851				0.82				2,500,000
Stanley Black & Decker, Inc.	April 2, 2026			3.670	%			4,985,767				4,999,492				1.65				5,000,000
Stanley Black & Decker, Inc.	April 30, 2026			3.918	%			4,976,708				4,984,292				1.64				5,000,000
TELUS Corporation	June 5, 2026			3.842	%			7,431,783				7,448,441				2.45				7,500,000
VW Credit, Inc.	June 4, 2026			3.981	%			2,480,524				2,482,444				0.82				2,500,000
Total Commercial Paper							$	91,729,771			$	91,955,776				30.27	%
Total Cash Equivalents											$	242,928,414				80.00	%

		Number of								Percentage of				Notional Amount
		Contracts				Fair Value				Net Assets				(Long Exposure)
Commodity futures contracts
United States wheat futures contracts
CBOT wheat futures JUL26			3,393			$	6,951,687				2.29	%		$	106,285,725
CBOT wheat futures SEP26			2,854				2,031,364				0.67				91,078,275
CBOT wheat futures DEC26			3,247				4,111,413				1.35				106,258,075
Total commodity futures contracts						$	13,094,464				4.31	%		$	303,622,075

The accompanying notes are an integral part of these financial statements.

TEUCRIUM WHEAT FUND

SCHEDULE OF INVESTMENTS

December 31, 2025

														*Percentage of*
Description: Assets		*Yield*				*Cost*				*Fair Value*				*Net Assets*				*Shares*

Cash equivalents
Money market funds
U.S. Bank Deposit Account			3.450	%		$	3,608,536			$	3,608,536				3.19	%			3,608,536
Goldman Sachs Financial Square Government Fund - Institutional Class			3.692	%			42,457,622				42,457,622				37.55				42,457,622
Total money market funds						$	46,066,158			$	46,066,158				40.74	%

	*Maturity*														*Percentage of*				*Principal*
	*Date*		*Yield*				*Cost*				*Fair Value*				*Net Assets*				*Amount*
Commercial Paper
Bell Canada, Inc.	March 4, 2026			3.844	%		$	2,477,775			$	2,483,596				2.20	%			2,500,000
Brookfield Infrastructure Holdings (Canada) Inc.	January 22, 2026			4.035	%			4,957,222				4,988,333				4.41				5,000,000
Brookfield Infrastructure Holdings (Canada) Inc.	January 29, 2026			3.931	%			2,480,500				2,492,417				2.20				2,500,000
Brookfield Infrastructure Holdings (Canada) Inc.	February 19, 2026			3.883	%			2,478,878				2,486,899				2.20				2,500,000
Crown Castle Inc.	January 20, 2026			3.854	%			4,982,400				4,989,867				4.41				5,000,000
Crown Castle Inc.	January 22, 2026			3.855	%			2,490,400				2,494,400				2.21				2,500,000
Glencore Funding LLC	January 14, 2026			3.822	%			4,970,972				4,993,139				4.42				5,000,000
Glencore Funding LLC	January 30, 2026			3.870	%			4,961,600				4,984,533				4.41				5,000,000
Harley-Davidson Financial Services, Inc.	March 5, 2026			3.782	%			2,479,167				2,483,594				2.20				2,500,000
Harley-Davidson Financial Services, Inc.	March 10, 2026			3.987	%			4,950,650				4,962,713				4.39				5,000,000
Hyundai Capital America	January 8, 2026			3.927	%			2,482,938				2,498,104				2.21				2,500,000
Oracle Corporation	March 11, 2026			3.862	%			7,434,604				7,444,972				6.59				7,500,000
Oracle Corporation	March 25, 2026			3.793	%			2,478,067				2,478,328				2.19				2,500,000
Total Commercial Paper							$	49,625,173			$	49,780,895				44.04	%
Total Cash Equivalents											$	95,847,053				84.78	%

		*Number of*								*Percentage of*				*Notional Amount*
Description: Liabilities		*Contracts*				*Fair Value*				*Net Assets*				*(Long Exposure)*

Commodity futures contracts
United States wheat futures contracts
CBOT wheat futures MAY26			1,521			$	2,253,008				1.99	%		$	39,431,925
CBOT wheat futures JUL26		1,276				1,137,701				1.01				33,893,750
CBOT wheat futures DEC26		1,406				3,924,119				3.47				39,701,925
Total commodity futures contracts						$	7,314,828				6.47	%		$	113,027,600

The accompanying notes are an integral part of these financial statements.

The entire disclosure for investments owned by investment company.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.12-12)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477271/946-320-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478795/946-210-50-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/946-320/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.12-12(Column A)(Footnote 1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477271/946-320-S99-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.12-12(Column C)(Footnote 8))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477271/946-320-S99-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-12B(Column C)(Footnote 11))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477271/946-320-S99-3

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 6
-Subparagraph (SX 210.12-14(Column F)(Footnote 5)(a))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477271/946-320-S99-6

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-12B(Column A)(Footnote 8))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477271/946-320-S99-3