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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
\nWashington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED
\nMANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number 811-22995

Abacus\nFCF ETF Trust
(Exact name of registrant as specified in charter)

333 S. Garland\nAve., Suite 1500

Orlando,\nFL 32801

(Address of principal executive offices) (Zip code)

Derin Cohen

333 S. Garland\nAve., Suite 1500

Orlando,\nFL 32801

(Name and address of agent for service)

1-212-217-2597

Registrant’s telephone number, including area\ncode

Date of fiscal year end: July 31

Date of reporting period: July 31, 2026

Item 1. Reports to Stockholders.

\n \n \n \n

(a)

\n \n \n \n \n \n \n \n \n \n \n \n \n \n

\n	\n	\n
\n $\"image\"$ \n	\n Abacus FCF Innovation Leaders ETF\n \n	\n $\"image\"$ \n
\n ABOT (Principal U.S. Listing Exchange: CBOE) \n
\n Annual Shareholder Report \| July 31, 2026\n \n

This annual shareholder report contains important information about the Abacus FCF Innovation Leaders ETF for the period of August 1, 2025, to July 31, 2026. You can find additional information about the Fund at https://abacusfcf.com/abot/. You can also request this information by contacting us at 1-800-617-0004.\n

This report describes changes to the Fund that occurred during the reporting period.

WHAT WERE THE FUND COSTS FOR THE PAST YEAR? (based on a hypothetical $10,000 investment)

\n \n

\n \n \n \n \n \n \n \n \n \n \n \n \n

\n	\n	\n
\n Fund Name \n	\n Costs of a $10,000 investment \n	\n Costs paid as a percentage of a $10,000 investment \n
\n Abacus FCF Innovation Leaders ETF \n	\n $40 \n	\n 0.39% \n

HOW DID THE FUND PERFORM LAST YEAR AND WHAT AFFECTED ITS PERFORMANCE?

During this period, ABOT returned 5.25% (NAV) and 5.42% (Market) and its style-specific benchmark returned 7.78%. On a benchmark relative basis, the best active contributors were Health Care and Large Blend stocks. The main active detractors were Information Technology and Mid Growth stocks. ABOT owns a portfolio of high-quality stocks selected by our proprietary free cash flow algorithm: as of July 31, 2026, the cash flow return for ABOT was 5.02% compared to the benchmark’s 2.50%.

\n \n

\n \n \n \n \n \n \n \n \n \n

\n	\n
\n Top Contributor \n
\n ↑ \n	\n Datadog Inc \n

\n \n

\n \n \n \n \n \n \n \n \n \n

\n	\n
\n Top Detractor \n
\n ↓ \n	\n Roblox Corp \n

HOW DID THE FUND PERFORM SINCE INCEPTION?*\n

The $10,000 chart reflects a hypothetical $10,000 investment in the class of shares noted and assumes the maximum sales charge. The chart uses total return NAV performance and assumes reinvestment of dividends and capital gains. Fund expenses, including 12b-1 fees, management fees and other expenses were deducted.

CUMULATIVE PERFORMANCE (Initial Investment of $10,000)

$\"image\"$

\n \n \n \n \n \n

Abacus FCF Innovation Leaders ETF \n

PAGE 1 \n

TSR-AR-89628W500

ANNUAL AVERAGE TOTAL RETURN (%)

\n \n

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

\n	\n	\n	\n
\n \n	\n 1 Year \n	\n 5 Year \n	\n Since Inception (12/07/2020) \n
\n Abacus FCF Innovation Leaders ETF NAV\n \n	\n 5.25 \n	\n 8.23 \n	\n 10.53 \n
\n S&P 500 TR\n \n	\n 19.56 \n	\n 12.86 \n	\n 14.98 \n
\n Russell 1000 Growth Total Return\n \n	\n 7.78 \n	\n 11.85 \n	\n 14.03 \n
\n Abacus FCF Innovation Leaders Index\n \n	\n 4.07 \n	\n 9.14 \n	\n 11.42 \n

Visit https://abacusfcf.com/abot/ for more recent performance information.

\n \n \n \n \n

*	*The Fund’s past performance is not a good predictor of how the Fund will perform in the future.*The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.\n

KEY FUND STATISTICS (as of July 31, 2026)

\n \n

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

\n	\n
\n Net Assets \n	\n $4,042,333 \n
\n Number of Holdings \n	\n 51 \n
\n Net Advisory Fee \n	\n $19,579 \n
\n Portfolio Turnover \n	\n 73% \n
\n 30-Day SEC Yield \n	\n 0.20% \n
\n 30-Day SEC Yield Unsubsidized \n	\n 0.01% \n

WHAT DID THE FUND INVEST IN? (as of July 31, 2026)

\n \n

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

\n	\n	\n
\n Top 10 Issuers \n	\n (% of net assets) \n
\n Apple, Inc.\n \n	\n 4.9 \n	\n % \n
\n NVIDIA Corp.\n \n	\n 4.7 \n	\n % \n
\n Broadcom, Inc.\n \n	\n 3.9 \n	\n % \n
\n Mount Vernon Liquid Assets Portfolio, LLC\n \n	\n 3.5 \n	\n % \n
\n AbbVie, Inc.\n \n	\n 3.3 \n	\n % \n
\n Airbnb, Inc.\n \n	\n 2.7 \n	\n % \n
\n Snowflake, Inc.\n \n	\n 2.7 \n	\n % \n
\n Bristol-Myers Squibb Co.\n \n	\n 2.6 \n	\n % \n
\n Fortinet, Inc.\n \n	\n 2.5 \n	\n % \n
\n Adobe, Inc.\n \n	\n 2.5 \n	\n % \n

Sector Breakdown (% of net assets)

$\"image\"$

CERTAIN CHANGES TO THE FUND

Effective August 14, 2026, Cody Raulerson, CFA, joined the firm as Executive Vice President and Portfolio Manager. Mr. Raulerson, along with Fei Xue (Vice President) and Tom MacDonald (Financial Analyst), now serve as ABOT’s portfolio managers and are jointly and primarily responsible for the day-to-day management of ABOT’s portfolio.

For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code above or visit https://abacusfcf.com/abot/.

HOUSEHOLDING\n

To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). If you would prefer that your Abacus FCF Advisors LLC documents not be householded, please contact Abacus FCF Advisors LLC at 1-800-617-0004, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Abacus FCF Advisors LLC or your financial intermediary.

\n \n \n \n \n \n

Abacus FCF Innovation Leaders ETF \n

PAGE 2 \n

TSR-AR-89628W500

1000011848100521134313470167171759610000120151145712949158161840021999100001198710557123851572119471209851000011892101161192614200176911841155.520.915.53.93.01.10.1

\n \n \n \n \n \n \n \n \n \n \n \n \n \n

\n	\n	\n
\n $\"image\"$ \n	\n Abacus FCF International Leaders ETF\n \n	\n $\"image\"$ \n
\n ABLG (Principal U.S. Listing Exchange: CBOE) \n
\n Annual Shareholder Report \| July 31, 2026\n \n

This annual shareholder report contains important information about the Abacus FCF International Leaders ETF for the period of August 1, 2025, to July 31, 2026. You can find additional information about the Fund at https://abacusfcf.com/ablg/. You can also request this information by contacting us at 1-800-617-0004.\n

This report describes changes to the Fund that occurred during the reporting period.

WHAT WERE THE FUND COSTS FOR THE PAST YEAR? (based on a hypothetical $10,000 investment)

\n \n

\n \n \n \n \n \n \n \n \n \n \n \n \n

\n	\n	\n
\n Fund Name \n	\n Costs of a $10,000 investment \n	\n Costs paid as a percentage of a $10,000 investment \n
\n Abacus FCF International Leaders ETF \n	\n $56 \n	\n 0.54% \n

HOW DID THE FUND PERFORM LAST YEAR AND WHAT AFFECTED ITS PERFORMANCE?

During this period, ABLG returned 6.87% (NAV) and 6.10% (Market) and its benchmark returned 28.46%. On a benchmark relative basis, the best active contributors were Health Care, Mid Value stocks and exposure to Japan. The main active detractors were Information Technology, Large Value stocks and exposure to Asia - Emerging. ABLG owns a portfolio of high-quality stocks selected by our proprietary free cash flow algorithm: as of July 31, 2026, the cash flow return for ABLG was 6.41% compared to the benchmark’s 4.17%.

\n \n

\n \n \n \n \n \n \n \n \n \n

\n	\n
\n Top Contributor \n
\n ↑ \n	\n Advantest Corp \n

\n \n

\n \n \n \n \n \n \n \n \n \n

\n	\n
\n Top Detractor \n
\n ↓ \n	\n Monday.com LTD \n

HOW DID THE FUND PERFORM SINCE INCEPTION?*\n

CUMULATIVE PERFORMANCE (Initial Investment of $10,000)

$\"image\"$

\n \n \n \n \n \n

Abacus FCF International Leaders ETF \n

PAGE 1 \n

TSR-AR-89628W401

ANNUAL AVERAGE TOTAL RETURN (%)

\n \n

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

\n	\n	\n	\n
\n \n	\n 1 Year \n	\n 5 Year \n	\n Since Inception (06/27/2017) \n
\n Abacus FCF International Leaders ETF NAV\n \n	\n 6.87 \n	\n 0.55 \n	\n 4.95 \n
\n MSCI AC WORLD INDEX ex USA Net (USD)\n \n	\n 28.46 \n	\n 9.22 \n	\n 8.72 \n
\n MSCI AC WORLD INDEX ex USA GROWTH Net (USD)\n \n	\n 20.42 \n	\n 4.95 \n	\n 7.81 \n

Visit https://abacusfcf.com/ablg/ for more recent performance information.

\n \n \n \n \n

*	*The Fund’s past performance is not a good predictor of how the Fund will perform in the future.*The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.\n

KEY FUND STATISTICS (as of July 31, 2026)

\n \n

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

\n	\n
\n Net Assets \n	\n $16,136,671 \n
\n Number of Holdings \n	\n 49 \n
\n Net Advisory Fee \n	\n $137,022 \n
\n Portfolio Turnover \n	\n 99% \n
\n 30-Day SEC Yield \n	\n 2.19% \n
\n 30-Day SEC Yield Unsubsidized \n	\n 2.19% \n

WHAT DID THE FUND INVEST IN? (as of July 31, 2026)

\n \n

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

\n	\n	\n
\n Top 10 Issuers \n	\n (% of net assets) \n \n
\n Mount Vernon Liquid Assets Portfolio, LLC\n \n	\n 12.7 \n	\n % \n
\n Taiwan Semiconductor Manufacturing Co. Ltd.\n \n	\n 4.9 \n	\n % \n
\n ASML Holding NV\n \n	\n 4.9 \n	\n % \n
\n SK hynix, Inc.\n \n	\n 4.1 \n	\n % \n
\n Advantest Corp.\n \n	\n 3.9 \n	\n % \n
\n Novartis AG\n \n	\n 3.3 \n	\n % \n
\n Rolls-Royce Holdings PLC\n \n	\n 3.2 \n	\n % \n
\n Tencent Holdings Ltd.\n \n	\n 3.1 \n	\n % \n
\n Roche Holding AG\n \n	\n 2.7 \n	\n % \n
\n Siemens Energy AG\n \n	\n 2.6 \n	\n % \n

Geographic Breakdown (% of net assets)

$\"image\"$

Sector Breakdown (% of net assets)

$\"image\"$

CERTAIN CHANGES TO THE FUND

Effective August 14, 2026, Cody Raulerson, CFA, joined the firm as Executive Vice President and Portfolio Manager. Mr. Raulerson, along with Fei Xue (Vice President) and Tom MacDonald (Financial Analyst), now serve as ABLG’s portfolio managers and are jointly and primarily responsible for the day-to-day management of ABLG’s portfolio.

For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code above or visit https://abacusfcf.com/ablg/.

\n \n \n \n \n \n

Abacus FCF International Leaders ETF \n

PAGE 2 \n

TSR-AR-89628W401

HOUSEHOLDING\n

\n \n \n \n \n \n

Abacus FCF International Leaders ETF \n

PAGE 3 \n

TSR-AR-89628W401

10000101921080010534107891510012393131391432214520155171000010328109421069310763137541165413218145061664321380100001024811073111491262215562123701369414746164551981520.011.37.66.86.35.84.94.94.727.723.921.110.49.78.87.47.14.53.33.8

\n \n \n \n \n \n \n \n \n \n \n \n \n \n

\n	\n	\n
\n $\"image\"$ \n	\n Abacus FCF Leaders ETF\n \n	\n $\"image\"$ \n
\n ABFL (Principal U.S. Listing Exchange: CBOE) \n
\n Annual Shareholder Report \| July 31, 2026\n \n

This annual shareholder report contains important information about the Abacus FCF Leaders ETF for the period of August 1, 2025, to July 31, 2026. You can find additional information about the Fund at https://abacusfcf.com/abfl/. You can also request this information by contacting us at 1-800-617-0004.\n

This report describes changes to the Fund that occurred during the reporting period.

WHAT WERE THE FUND COSTS FOR THE PAST YEAR? (based on a hypothetical $10,000 investment)

\n \n

\n \n \n \n \n \n \n \n \n \n \n \n \n

\n	\n	\n
\n Fund Name \n	\n Costs of a $10,000 investment \n	\n Costs paid as a percentage of a $10,000 investment \n
\n Abacus FCF Leaders ETF \n	\n $53 \n	\n 0.49% \n

HOW DID THE FUND PERFORM LAST YEAR AND WHAT AFFECTED ITS PERFORMANCE?

During this period, ABFL returned 17.37% (NAV) and 17.50% (Market) and its benchmark returned 19.60%. On a benchmark relative basis, the best active contributors were Industrials and Large Growth stocks. The main active detractors were Information Technology and Mid Growth stocks. ABFL owns a portfolio of high-quality stocks selected by our proprietary free cash flow algorithm: as of July 31, 2026, the cash flow return for ABFL was 4.58% compared to 3.33% for the benchmark.

\n \n

\n \n \n \n \n \n \n \n \n \n

\n	\n
\n Top Contributor \n
\n ↑ \n	\n Argan Inc \n

\n \n

\n \n \n \n \n \n \n \n \n \n

\n	\n
\n Top Detractor \n
\n ↓ \n	\n Roblox Corp \n

HOW DID THE FUND PERFORM SINCE INCEPTION?*\n

CUMULATIVE PERFORMANCE (Initial Investment of $10,000)

$\"image\"$

\n \n \n \n \n \n

Abacus FCF Leaders ETF \n

PAGE 1 \n

TSR-AR-89628W302

ANNUAL AVERAGE TOTAL RETURN (%)

\n \n

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

\n	\n	\n	\n
\n \n	\n 1 Year \n	\n 5 Year \n	\n Since Inception (09/27/2016) \n
\n Abacus FCF Leaders ETF NAV\n \n	\n 17.37 \n	\n 11.00 \n	\n 14.54 \n
\n Russell 3000 Total Return\n \n	\n 19.60 \n	\n 11.82 \n	\n 14.81 \n

Visit https://abacusfcf.com/abfl/ for more recent performance information.

\n \n \n \n \n

*	*The Fund’s past performance is not a good predictor of how the Fund will perform in the future.*The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.\n

KEY FUND STATISTICS (as of July 31, 2026)

\n \n

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

\n	\n
\n Net Assets \n	\n $526,084,373 \n
\n Number of Holdings \n	\n 59 \n
\n Net Advisory Fee \n	\n $3,254,974 \n
\n Portfolio Turnover \n	\n 104% \n
\n 30-Day SEC Yield \n	\n 0.72% \n
\n 30-Day SEC Yield Unsubsidized \n	\n 0.72% \n

WHAT DID THE FUND INVEST IN? (as of July 31, 2026)

\n \n

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

\n	\n	\n
\n Top 10 Issuers \n	\n (% of net assets) \n
\n Apple, Inc.\n \n	\n 5.1 \n	\n % \n
\n NVIDIA Corp.\n \n	\n 4.6 \n	\n % \n
\n Eli Lilly & Co.\n \n	\n 3.0 \n	\n % \n
\n Bristol-Myers Squibb Co.\n \n	\n 2.9 \n	\n % \n
\n AbbVie, Inc.\n \n	\n 2.9 \n	\n % \n
\n GE Vernova, Inc.\n \n	\n 2.6 \n	\n % \n
\n Lam Research Corp.\n \n	\n 2.6 \n	\n % \n
\n Cheniere Energy Partners LP\n \n	\n 2.5 \n	\n % \n
\n Broadcom, Inc.\n \n	\n 2.5 \n	\n % \n
\n KLA Corp.\n \n	\n 2.4 \n	\n % \n

Sector Breakdown (% of net assets)

$\"image\"$

CERTAIN CHANGES TO THE FUND

Effective August 14, 2026, Cody Raulerson, CFA, joined the firm as Executive Vice President and Portfolio Manager. Mr. Raulerson, along with Fei Xue (Vice President) and Tom MacDonald (Financial Analyst), now serve as ABFL’s portfolio managers and are jointly and primarily responsible for the day-to-day management of ABFL’s portfolio.

For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code above or visit https://abacusfcf.com/abfl/.

HOUSEHOLDING\n

\n \n \n \n \n \n

Abacus FCF Leaders ETF \n

PAGE 2 \n

TSR-AR-89628W302

1000011947146501522016281225712191324732287603239838026100001161513519144721605322270206332324328141325543893632.217.716.88.67.26.04.24.03.10.2

\n \n \n \n \n \n \n \n \n \n \n \n \n \n

\n	\n	\n
\n $\"image\"$ \n	\n Abacus FCF Real Assets Leaders ETF\n \n	\n $\"image\"$ \n
\n ABLD (Principal U.S. Listing Exchange: CBOE) \n
\n Annual Shareholder Report \| July 31, 2026\n \n

This annual shareholder report contains important information about the Abacus FCF Real Assets Leaders ETF for the period of August 1, 2025, to July 31, 2026. You can find additional information about the Fund at https://abacusfcf.com/abld/. You can also request this information by contacting us at 1-800-617-0004.\n

This report describes changes to the Fund that occurred during the reporting period.

WHAT WERE THE FUND COSTS FOR THE PAST YEAR? (based on a hypothetical $10,000 investment)

\n \n

\n \n \n \n \n \n \n \n \n \n \n \n \n

\n	\n	\n
\n Fund Name \n	\n Costs of a $10,000 investment \n	\n Costs paid as a percentage of a $10,000 investment \n
\n Abacus FCF Real Assets Leaders ETF \n	\n $41 \n	\n 0.39% \n

HOW DID THE FUND PERFORM LAST YEAR AND WHAT AFFECTED ITS PERFORMANCE?

During this period, ABLD returned 11.85% (NAV) and 12.04% (Market) and its style-specific benchmark returned 20.62%. On a benchmark relative basis, the best active contributors were Financials and Large Value stocks. The main active detractors were Information Technology and Large Growth stocks. ABLD owns a portfolio of high-quality stocks selected by our proprietary free cash flow algorithm: as of July 31, 2026, the cash flow return for ABLD was 7.76% compared to the benchmark’s 4.11%.

\n \n

\n \n \n \n \n \n \n \n \n \n

\n	\n
\n Top Contributor \n
\n ↑ \n	\n Axia Energia \n

\n \n

\n \n \n \n \n \n \n \n \n \n

\n	\n
\n Top Detractor \n
\n ↓ \n	\n Vontier Corp \n

HOW DID THE FUND PERFORM SINCE INCEPTION?*\n

CUMULATIVE PERFORMANCE (Initial Investment of $10,000)

$\"image\"$

\n \n \n \n \n \n

Abacus FCF Real Assets Leaders ETF \n

PAGE 1 \n

TSR-AR-89628W708

ANNUAL AVERAGE TOTAL RETURN (%)

\n \n

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

\n	\n	\n
\n \n	\n 1 Year \n	\n Since Inception (12/13/2021) \n
\n Abacus FCF Real Assets Leaders ETF NAV\n \n	\n 11.85 \n	\n 11.15 \n
\n S&P 500 TR\n \n	\n 19.56 \n	\n 12.35 \n
\n S&P Real Assets Equity Index (Net TR)\n \n	\n 20.62 \n	\n 6.33 \n
\n Abacus FCF Real Assets Leaders Index\n \n	\n 14.58 \n	\n 11.47 \n

Visit https://abacusfcf.com/abld/ for more recent performance information.

\n \n \n \n \n

*	*The Fund’s past performance is not a good predictor of how the Fund will perform in the future.*The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.\n

KEY FUND STATISTICS (as of July 31, 2026)

\n \n

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

\n	\n
\n Net Assets \n	\n $92,756,849 \n
\n Number of Holdings \n	\n 48 \n
\n Net Advisory Fee \n	\n $231,123 \n
\n Portfolio Turnover \n	\n 151% \n
\n 30-Day SEC Yield \n	\n 2.72% \n
\n 30-Day SEC Yield Unsubsidized \n	\n 2.52% \n

WHAT DID THE FUND INVEST IN? (as of July 31, 2026)

\n \n

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

\n	\n	\n
\n Top 10 Issuers \n	\n (% of net assets) \n
\n Mount Vernon Liquid Assets Portfolio, LLC\n \n	\n 11.2 \n	\n % \n
\n Cheniere Energy Partners LP\n \n	\n 3.9 \n	\n % \n
\n Petroleo Brasileiro SA - Petrobras\n \n	\n 3.9 \n	\n % \n
\n APA Corp.\n \n	\n 3.9 \n	\n % \n
\n Simon Property Group, Inc.\n \n	\n 3.8 \n	\n % \n
\n Hitachi Ltd.\n \n	\n 3.6 \n	\n % \n
\n Archer-Daniels-Midland Co.\n \n	\n 3.6 \n	\n % \n
\n Western Midstream Partners LP\n \n	\n 3.6 \n	\n % \n
\n BHP Group Ltd.\n \n	\n 3.2 \n	\n % \n
\n Antero Midstream Corp.\n \n	\n 3.2 \n	\n % \n

Sector Breakdown (% of net assets)

$\"image\"$

CERTAIN CHANGES TO THE FUND

Effective January 15, 2026, ABLD no longer considers dividends as part of its investment strategy.

Effective August 14, 2026, Cody Raulerson, CFA, joined the firm as Executive Vice President and Portfolio Manager. Mr. Raulerson, along with Fei Xue (Vice President) and Tom MacDonald (Financial Analyst), now serve as ABLD’s portfolio managers and are jointly and primarily responsible for the day-to-day management of ABLD’s portfolio.

For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code above or visit https://abacusfcf.com/abld/.

\n \n \n \n \n \n

Abacus FCF Real Assets Leaders ETF \n

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HOUSEHOLDING\n

\n \n \n \n \n \n

Abacus FCF Real Assets Leaders ETF \n

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10000106881257114565145851631310000893010092123271434117146100009903960210234110151328610000106581248214409144291653237.624.620.97.95.31.61.50.6

\n \n \n \n \n \n \n \n \n \n \n \n \n \n

\n	\n	\n
\n $\"image\"$ \n	\n Abacus FCF Small Cap Leaders ETF\n \n	\n $\"image\"$ \n
\n ABLS (Principal U.S. Listing Exchange: CBOE) \n
\n Annual Shareholder Report \| July 31, 2026\n \n

This annual shareholder report contains important information about the Abacus FCF Small Cap Leaders ETF for the period of August 1, 2025, to July 31, 2026. You can find additional information about the Fund at https://abacusfcf.com/abls/. You can also request this information by contacting us at 1-800-617-0004.\n

This report describes changes to the Fund that occurred during the reporting period.

WHAT WERE THE FUND COSTS FOR THE PAST YEAR? (based on a hypothetical $10,000 investment)

\n \n

\n \n \n \n \n \n \n \n \n \n \n \n \n

\n	\n	\n
\n Fund Name \n	\n Costs of a $10,000 investment \n	\n Costs paid as a percentage of a $10,000 investment \n
\n Abacus FCF Small Cap Leaders ETF \n	\n $41 \n	\n 0.39% \n

HOW DID THE FUND PERFORM LAST YEAR AND WHAT AFFECTED ITS PERFORMANCE?

During this period, ABLS returned 12.47% (NAV) and 12.56% (Market) and its style-specific benchmark returned 34.18%. On a benchmark relative basis, the best active contributors were Financials and Mid Blend stocks. The main active detractors were Information Technology and Small Value stocks. ABLS owns a portfolio of high-quality stocks selected by our proprietary free cash flow algorithm: as of July 31, 2026, the cash flow return for ABLS was 10.15% compared to the benchmark’s 2.90%.

\n \n

\n \n \n \n \n \n \n \n \n \n

\n	\n
\n Top Contributor \n
\n ↑ \n	\n Argan Inc \n

\n \n

\n \n \n \n \n \n \n \n \n \n

\n	\n
\n Top Detractor \n
\n ↓ \n	\n CommVault Systems \n

HOW DID THE FUND PERFORM SINCE INCEPTION?*\n

CUMULATIVE PERFORMANCE (Initial Investment of $10,000)

$\"image\"$

\n \n \n \n \n \n

Abacus FCF Small Cap Leaders ETF \n

PAGE 1 \n

TSR-AR-89628W880

ANNUAL AVERAGE TOTAL RETURN (%)

\n \n

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

\n	\n	\n	\n
\n \n	\n 1 Year \n	\n 5 Year¹\n \n	\n Since Inception \n (03/18/2021)¹\n \n
\n Abacus FCF Small Cap Leaders ETF NAV\n \n	\n 12.47 \n	\n 5.03 \n	\n 6.10 \n
\n S&P 500 TR\n \n	\n 19.56 \n	\n 12.86 \n	\n 14.46 \n
\n Russell 2000 Total Return Index\n \n	\n 34.18 \n	\n 7.11 \n	\n 6.31 \n
\n Abacus FCF Small Cap Leaders Index\n \n	\n 16.11 \n	\n 5.74 \n	\n 7.50² \n

\n \n \n \n \n

On February 18, 2025, all of the assets of a separately managed account (the “Predecessor Account”), which had been managed by the Fund’s investment adviser, Abacus FCF Advisors LLC, since March 18, 2021, and had investment policies, objectives, guidelines and restrictions that were in all material respects equivalent to those of the Fund, were transferred to the Fund in a tax-free transaction (the “Transaction”). Performance shown for periods prior to the date of the Transaction represents the performance of the Predecessor Account. Prior to the date of the Transaction, the Fund had not commenced investment operations. The Predecessor Account was not registered under the Investment Company Act of 1940, as amended (“1940 Act”) and therefore was not subject to certain investment restrictions that are imposed by the 1940 Act on registered investment companies. If the Predecessor Account had been registered under the 1940 Act, the Predecessor Account’s performance may have been adversely affected.

\n \n \n \n \n

2	The performance of the Abacus FCF Small Cap Leaders Index is provided as of 3/31/2021 as the Index does not have performance data prior to that date.

Visit https://abacusfcf.com/abls/ for more recent performance information.

\n \n \n \n \n

*	*The Fund’s past performance is not a good predictor of how the Fund will perform in the future.*The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.\n

KEY FUND STATISTICS (as of July 31, 2026)

\n \n

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

\n	\n
\n Net Assets \n	\n $464,509 \n
\n Number of Holdings \n	\n 47 \n
\n Net Advisory Fee \n	\n $4,389 \n
\n Portfolio Turnover \n	\n 108% \n
\n 30-Day SEC Yield \n	\n 0.47% \n
\n 30-Day SEC Yield Unsubsidized \n	\n 0.27% \n

WHAT DID THE FUND INVEST IN? (as of July 31, 2026)

\n \n

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

\n	\n	\n
\n Top 10 Issuers \n	\n (% of net assets) \n
\n Argan, Inc.\n \n	\n 11.8 \n	\n % \n
\n Enova International, Inc.\n \n	\n 6.5 \n	\n % \n
\n Oscar Health, Inc.\n \n	\n 5.8 \n	\n % \n
\n Artisan Partners Asset Management, Inc.\n \n	\n 4.4 \n	\n % \n
\n Collegium Pharmaceutical, Inc.\n \n	\n 4.3 \n	\n % \n
\n Healthcare Services Group, Inc.\n \n	\n 3.7 \n	\n % \n
\n Harmony Biosciences Holdings, Inc.\n \n	\n 3.6 \n	\n % \n
\n Qualys, Inc.\n \n	\n 3.4 \n	\n % \n
\n Kontoor Brands, Inc.\n \n	\n 3.4 \n	\n % \n
\n Progyny, Inc.\n \n	\n 3.3 \n	\n % \n

Sector Breakdown (% of net assets)

$\"image\"$

CERTAIN CHANGES TO THE FUND

Effective August 14, 2026, Cody Raulerson, CFA, joined the firm as Executive Vice President and Portfolio Manager. Mr. Raulerson, along with Fei Xue (Vice President) and Tom MacDonald (Financial Analyst), now serve as ABLS’s portfolio managers and are jointly and primarily responsible for the day-to-day management of ABLS’s portfolio.

\n \n \n \n \n \n

Abacus FCF Small Cap Leaders ETF \n

PAGE 2 \n

TSR-AR-89628W880

For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code above or visit https://abacusfcf.com/abls/.

HOUSEHOLDING\n

\n \n \n \n \n \n

Abacus FCF Small Cap Leaders ETF \n

PAGE 3 \n

TSR-AR-89628W880

1000010753949911400128711222013744100001128010757121571484917275206541000098498441910910407103491388722.621.720.019.17.72.01.51.51.32.6

\n \n \n \n \n \n \n \n \n \n \n \n \n \n

\n	\n	\n
\n $\"image\"$ \n	\n Abacus Flexible Bond Leaders ETF\n \n	\n $\"image\"$ \n
\n ABXB (Principal U.S. Listing Exchange: CBOE) \n
\n Annual Shareholder Report \| July 31, 2026\n \n

This annual shareholder report contains important information about the Abacus Flexible Bond Leaders ETF for the period of August 1, 2025, to July 31, 2026. You can find additional information about the Fund at https://abacusfcf.com/abxb/. You can also request this information by contacting us at 1-800-617-0004.\n

This report describes changes to the Fund that occurred during the reporting period.

WHAT WERE THE FUND COSTS FOR THE PAST YEAR? (based on a hypothetical $10,000 investment)

\n \n

\n \n \n \n \n \n \n \n \n \n \n \n \n

\n	\n	\n
\n Fund Name \n	\n Costs of a $10,000 investment \n	\n Costs paid as a percentage of a $10,000 investment \n
\n Abacus Flexible Bond Leaders ETF \n	\n $40 \n	\n 0.39% \n

HOW DID THE FUND PERFORM LAST YEAR AND WHAT AFFECTED ITS PERFORMANCE?

During this period, ABXB was up 2.81% (NAV) and 2.81% (Market) and its benchmark returned 2.71%. On a benchmark relative basis, the best active contributor was iShares J.P. Morgan USD Emerging Markets Bond ETF. The main active detractor was iShares 10-20 Year Treasury Bond ETF. The period was marked by Federal Reserve rate cuts in late 2025 followed by an extended pause as sticky inflation and rising oil prices pushed longer-term Treasury yields higher, weighing on ABXB’s duration exposure. Emerging markets debt was the primary contributor as credit spreads tightened to multi-year lows amid resilient global growth and strong investor demand for yield. ABXB seeks current income and capital preservation by dynamically allocating across diverse fixed income categories using a trend-following approach that can move to cash during unfavorable market conditions, creating intermediate core bond plus exposure seeking downside protection.

\n \n

\n \n \n \n \n \n \n \n \n \n

\n	\n
\n Top Contributor \n
\n ↑ \n	\n iShares J.P. Morgan USD Emerging Markets Bond ETF \n

\n \n

\n \n \n \n \n \n \n \n \n \n

\n	\n
\n Top Detractor \n
\n ↓ \n	\n iShares 10-20 Year Treasury Bond ETF \n

HOW DID THE FUND PERFORM SINCE INCEPTION?*\n

CUMULATIVE PERFORMANCE (Initial Investment of $10,000)

$\"image\"$

\n \n \n \n \n \n

Abacus Flexible Bond Leaders ETF \n

PAGE 1 \n

TSR-AR-89628W609

ANNUAL AVERAGE TOTAL RETURN (%)

\n \n

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

\n	\n	\n	\n
\n \n	\n 1 Year \n	\n 5 Year \n	\n Since Inception (12/07/2020) \n
\n Abacus Flexible Bond Leaders ETF NAV¹\n \n	\n 2.81 \n	\n 0.69 \n	\n 1.13 \n
\n Bloomberg US Aggregate Bond Index\n \n	\n 2.71 \n	\n -0.40 \n	\n -0.37 \n
\n Abacus Flexible Bond Leaders Index¹\n \n	\n 1.51 \n	\n 3.01 \n	\n 2.65 \n

\n \n \n \n \n

Performance of the Fund and Abacus Flexible Bond Leaders Index (“Underlying Index”) shown prior to June 6, 2025, reflects the Fund’s and Underlying Index’s prior principal investment strategy and methodology, respectively; the Fund’s and Underlying Index’s performance would have differed if the Fund’s and Underlying Index’s current principal investment strategy and methodology, respectively, had been in place.

Visit https://abacusfcf.com/abxb/ for more recent performance information.

\n \n \n \n \n

*	*The Fund’s past performance is not a good predictor of how the Fund will perform in the future.*The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.\n

KEY FUND STATISTICS (as of July 31, 2026)

\n \n

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

\n	\n
\n Net Assets \n	\n $1,905,874 \n
\n Number of Holdings \n	\n 8 \n
\n Net Advisory Fee \n	\n $8,082 \n
\n Portfolio Turnover \n	\n 260% \n
\n 30-Day SEC Yield \n	\n 4.63% \n
\n 30-Day SEC Yield Unsubsidized \n	\n 4.43% \n

WHAT DID THE FUND INVEST IN? (as of July 31, 2026)

\n \n

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

\n	\n	\n
\n Top 10 Issuers \n	\n (% of net assets) \n
\n Mount Vernon Liquid Assets Portfolio, LLC\n \n	\n 19.5 \n	\n % \n
\n Vanguard Short-Term Treasury ETF\n \n	\n 17.6 \n	\n % \n
\n iShares MBS ETF\n \n	\n 17.4 \n	\n % \n
\n iShares iBoxx USD Investment Grade Corporate Bond ETF\n \n	\n 17.2 \n	\n % \n
\n iShares 10-20 Year Treasury Bond ETF\n \n	\n 17.0 \n	\n % \n
\n VanEck J. P. Morgan EM Local Currency Bond ETF\n \n	\n 10.2 \n	\n % \n
\n iShares 0-5 Year High Yield Corporate Bond ETF\n \n	\n 10.1 \n	\n % \n
\n iShares J.P. Morgan USD Emerging Markets Bond ETF\n \n	\n 10.0 \n	\n % \n

Security Type Breakdown (% of net assets)

$\"image\"$

CERTAIN CHANGES TO THE FUND

Effective May 15, 2026, ABXB implemented an intermediate core-plus fixed income character to its bond investment strategy.

Effective August 14, 2026, Cody Raulerson, CFA, joined the firm as Executive Vice President and Portfolio Manager. Mr. Raulerson, along with Fei Xue (Vice President) and Tom MacDonald (Financial Analyst), now serve as ABXB’s portfolio managers and are jointly and primarily responsible for the day-to-day management of ABXB’s portfolio.

For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, scan the QR code above or visit https://abacusfcf.com/abxb/.

\n \n \n \n \n \n

Abacus Flexible Bond Leaders ETF \n

PAGE 2 \n

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HOUSEHOLDING\n

\n \n \n \n \n \n

Abacus Flexible Bond Leaders ETF \n

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100001029292679107978010362106531000099919080877592229534979210000999899951039411225114211159399.30.7

\n \n \n \n

(b)

Not applicable.

Item 2. Code of Ethics.

The registrant has adopted a code of ethics that applies to the registrant’s\nprincipal executive officer and principal financial officer. The registrant has not made any substantive amendments to its code of ethics\nduring the period covered by this report. The registrant has not granted any waivers from any provisions of the code of ethics during\nthe period covered by this report.

A copy of the registrant’s Code of Ethics is filed herewith.

Item 3. Audit Committee Financial\nExpert.

The registrant’s board of the Abacus FCF ETF Trust has determined\nthat it does not have an audit committee financial expert serving on its audit committee. At this time, the registrant believes that the\nexperience provided by each member of the audit committee together offers the registrant adequate oversight for the registrant’s\nlevel of financial complexity.

Item 4.\nPrincipal Accountant Fees and Services.

The registrant has engaged its principal\naccountant to perform audit services, audit-related services, tax services and other services during the past two fiscal years. “Audit\nservices” refer to performing an audit of the registrant’s annual financial statements or services that are normally provided\nby the accountant in connection with statutory and regulatory filings or engagements for those fiscal years. “Audit-related services”\nrefer to the assurance and related services by the principal accountant that are reasonably related to the performance of the audit. “Tax\nservices” refer to professional services rendered by the principal accountant for tax compliance, tax advice, and tax planning.\nThe following tables detail the aggregate fees billed or expected to be billed for each of the last two fiscal years for audit fees, audit-related\nfees, tax fees and other fees by the principal accountant.

Abacus FCF Leaders ETF

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

	FYE\n 07/31/2026	FYE\n 07/31/2025
(a) Audit Fees	$13,800	$13,100
(b) Audit-Related Fees	N/A	N/A
(c) Tax Fees	$3,200	$3,000
(d) All Other Fees	N/A	N/A

Abacus FCF International Leaders ETF

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

	FYE\n 07/31/2026	FYE\n 07/31/2025
(a) Audit Fees	$15,900	$15,100
(b) Audit-Related Fees	N/A	N/A
(c) Tax Fees	$3,200	$3,000
(d) All Other Fees	N/A	N/A

Abacus Flexible Bond Leaders ETF

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

	FYE\n 07/31/2026	FYE\n 07/31/2025
(a) Audit Fees	$13,800	$13,100
(b) Audit-Related Fees	N/A	N/A
(c) Tax Fees	$3,200	$3,000
(d) All Other Fees	N/A	N/A

Abacus FCF Innovation Leaders ETF

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

	FYE\n 07/31/2026	FYE\n 07/31/2025
(a) Audit Fees	$13,800	$13,100
(b) Audit-Related Fees	N/A	N/A
(c) Tax Fees	$3,200	$3,000
(d) All Other Fees	N/A	N/A

Abacus FCF Real Assets Leaders ETF

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

	FYE\n 07/31/2026	FYE\n 07/31/2025
(a) Audit Fees	$13,800	$13,100
(b) Audit-Related Fees	N/A	N/A
(c) Tax Fees	$3,200	$3,000
(d) All Other Fees	N/A	N/A

Abacus FCF Small Cap Leaders ETF

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

	FYE\n 07/31/2026	FYE\n 07/31/2025
(a) Audit Fees	$13,800	$13,100
(b) Audit-Related Fees	N/A	N/A
(c) Tax Fees	$3,200	$3,000
(d) All Other Fees	N/A	N/A

(e)(1) The audit committee has adopted pre-approval policies and procedures\nthat require the audit committee to pre-approve all audit and non-audit services of the registrant, including services provided\nto any entity affiliated with the registrant.

(e)(2) The percentage of fees billed by Cohen & Company, Ltd. applicable\nto non-audit services pursuant to waiver of pre-approval requirement were as follows:

Abacus FCF Leaders ETF

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

	FYE\n 07/31/2026	FYE\n 07/31/2025
Audit-Related Fees	0%	0%
Tax Fees	0%	0%
All Other Fees	0%	0%

Abacus FCF International Leaders ETF

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

	FYE\n 07/31/2026	FYE\n 07/31/2025
Audit-Related Fees	0%	0%
Tax Fees	0%	0%
All Other Fees	0%	0%

Abacus Flexible Bond Leaders ETF

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

	FYE\n 07/31/2026	FYE\n 07/31/2025
Audit-Related Fees	0%	0%
Tax Fees	0%	0%
All Other Fees	0%	0%

Abacus FCF Innovation Leaders ETF

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

	FYE\n 07/31/2026	FYE\n 07/31/2025
Audit-Related Fees	0%	0%
Tax Fees	0%	0%
All Other Fees	0%	0%

Abacus FCF Real Assets Leaders ETF

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

	FYE\n 07/31/2026	FYE\n 07/31/2025
Audit-Related Fees	0%	0%
Tax Fees	0%	0%
All Other Fees	0%	0%

Abacus FCF Small Cap Leaders ETF

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

	FYE\n 07/31/2026	FYE\n 07/31/2025
Audit-Related Fees	0%	0%
Tax Fees	0%	0%
All Other Fees	0%	0%

(f) N/A

(g) The following table indicates the non-audit fees billed or expected\nto be billed by the registrant’s accountant for services to the registrant and to the registrant’s investment adviser (and\nany other controlling entity, etc.—not sub-adviser) for the last two years.

Abacus FCF Leaders ETF

\n \n \n \n \n \n \n \n \n \n \n \n \n

Non-Audit\n Related Fees	FYE\n 07/31/2026	FYE\n 07/31/2025
Registrant	-	-
Registrant’s Investment\n Adviser	-	-

Abacus FCF International Leaders ETF

\n \n \n \n \n \n \n \n \n \n \n \n \n

Non-Audit\n Related Fees	FYE\n 07/31/2026	FYE\n 07/31/2025
Registrant	-	-
Registrant’s Investment\n Adviser	-	-

Abacus Flexible Bond Leaders ETF

\n \n \n \n \n \n \n \n \n \n \n \n \n

Non-Audit\n Related Fees	FYE\n 07/31/2026	FYE\n 07/31/2025
Registrant	-	-
Registrant’s Investment\n Adviser	-	-

Abacus FCF Innovation Leaders ETF

\n \n \n \n \n \n \n \n \n \n \n \n \n

Non-Audit\n Related Fees	FYE\n 07/31/2026	FYE\n 07/31/2025
Registrant	-	-
Registrant’s Investment\n Adviser	-	-

Abacus FCF Real Assets Leaders ETF

\n \n \n \n \n \n \n \n \n \n \n \n \n

Non-Audit\n Related Fees	FYE\n 07/31/2026	FYE\n 07/31/2025
Registrant	-	-
Registrant’s Investment\n Adviser	-	-

Abacus FCF Small Cap Leaders ETF

\n \n \n \n \n \n \n \n \n \n \n \n \n

Non-Audit\n Related Fees	FYE\n 07/31/2026	FYE\n 07/31/2025
Registrant	-	-
Registrant’s Investment\n Adviser	-	-

(h) The audit committee of the board of trustees/directors has considered\nwhether the provision of non-audit services that were rendered to the registrant’s investment adviser is compatible with maintaining\nthe principal accountant’s independence and has concluded that the provision of such non-audit services by the accountant has not\ncompromised the accountant’s independence.

(i) The registrant has not been identified by the U.S. Securities and Exchange\nCommission as having filed an annual report issued by a registered public accounting firm branch or office that is located in a foreign\njurisdiction where the Public Company Accounting Oversight Board is unable to inspect or completely investigate because of a position\ntaken by an authority in that jurisdiction.

(j) The registrant is not a foreign issuer.

Item 5.\nAudit Committee of Listed Registrants.

(a) The registrant is an issuer as defined in Rule 10A-3 under the Securities\nExchange Act of 1934, (the “Act”) and has a separately-designated standing audit committee established in accordance with\nSection 3(a)(58)(A) of the Act. The independent members of the committee are as follows: David Kelly, Stephen Posner and Paul Hatch.

(b) Not applicable.

Item 6.\nInvestments.

\n \n \n \n

(a)

Schedules of Investments are included within the financial statements filed under Item 7 of this Form.

\n \n \n \n

(b)

Not applicable.

Item 7.\nFinancial Statements and Financial Highlights for Open-End Investment Companies.

\n \n \n \n

(a)

$\"\"$

Abacus\nFCF ETF Trust

Abacus\nFCF Innovation Leaders ETF (ABOT)

Abacus\nFCF International Leaders ETF (ABLG)

Abacus\nFCF Leaders ETF (ABFL)

Abacus\nFCF Real Assets Leaders ETF (ABLD)

Abacus\nFCF Small Cap Leaders ETF (ABLS)

Abacus\nFlexible Bond Leaders ETF (ABXB)

Annual\nFinancial Statements and Additional Information

July 31,\n2026

TABLE\nOF CONTENTS

\n	\n	\n	\n
\n	\n	\n	\n Page
\n Schedules\n of Investments	\n	\n	\n
\n Abacus\n FCF Innovation Leaders ETF	\n	\n	\n 1
\n Abacus\n FCF International Leaders ETF	\n	\n	\n 3
\n Abacus\n FCF Leaders ETF	\n	\n	\n 6
\n Abacus\n FCF Real Assets Leaders ETF	\n	\n	\n 9\n
\n Abacus\n FCF Small Cap Leaders ETF	\n	\n	\n 12
\n Abacus\n Flexible Bond Leaders ETF	\n	\n	\n 14
\n Statements\n of Assets and Liabilities	\n	\n	\n 15
\n Statements\n of Operations	\n	\n	\n 17
\n Statements\n of Changes in Net Assets	\n	\n	\n 19
\n Financial\n Highlights	\n	\n	\n 22
\n Notes\n to Financial Statements	\n	\n	\n 28\n
\n Report\n of Independent Registered Public Accounting Firm	\n	\n	\n 40
\n Additional\n Information (Unaudited)	\n	\n	\n 41
\n	\n	\n	\n

TABLE OF CONTENTS

Abacus\nFCF Innovation Leaders ETF

Schedule\nof Investments

July 31,\n2026

\n	\n	\n	\n	\n	\n	\n
\n	\n	\n	\n Shares	\n	\n	\n Value\n
\n COMMON\n STOCKS - 99.9%	\n	\n	\n	\n	\n	\n
\n Communications\n - 20.9%	\n	\n	\n	\n	\n	\n
\n Airbnb,\n Inc. - Class A^(a)	\n	\n	\n 728	\n	\n	\n $110,306\n
\n AppLovin\n Corp. - Class A^(a)	\n	\n	\n 124	\n	\n	\n 49,092\n
\n Expedia\n Group, Inc.	\n	\n	\n 327	\n	\n	\n 96,380\n
\n GoDaddy,\n Inc. - Class A^(a)	\n	\n	\n 641	\n	\n	\n 53,036\n
\n Maplebear,\n Inc.^(a)	\n	\n	\n 1,162	\n	\n	\n 51,825\n
\n Match\n Group, Inc.^(b)	\n	\n	\n 1,124	\n	\n	\n 44,297\n
\n New\n York Times Co. - Class A	\n	\n	\n 796	\n	\n	\n 59,612\n
\n Reddit,\n Inc. - Class A^(a)	\n	\n	\n 400	\n	\n	\n 56,268\n
\n ROBLOX\n Corp. - Class A^(a)	\n	\n	\n 1,850	\n	\n	\n 65,860\n
\n Spotify\n Technology SA^(a)	\n	\n	\n 172	\n	\n	\n 85,990\n
\n Uber\n Technologies, Inc.^(a)	\n	\n	\n 1,024	\n	\n	\n 72,049\n
\n VeriSign,\n Inc.	\n	\n	\n 353	\n	\n	\n 102,377\n
\n	\n	\n	\n	\n	\n	\n 847,092\n
\n Consumer\n Discretionary - 3.0%	\n	\n	\n	\n	\n	\n
\n DraftKings,\n Inc. - Class A^(a)	\n	\n	\n 2,451	\n	\n	\n 57,549\n
\n Hasbro,\n Inc.	\n	\n	\n 675	\n	\n	\n 63,410\n
\n	\n	\n	\n	\n	\n	\n 120,959\n
\n Financials\n - 3.9%	\n	\n	\n	\n	\n	\n
\n Fair\n Isaac Corp.^(a)	\n	\n	\n 68	\n	\n	\n 76,362\n
\n Toast,\n Inc. - Class A^(a)	\n	\n	\n 2,549	\n	\n	\n 82,256\n
\n	\n	\n	\n	\n	\n	\n 158,618\n
\n Health\n Care - 15.5%	\n	\n	\n	\n	\n	\n
\n AbbVie,\n Inc.	\n	\n	\n 524	\n	\n	\n 131,493\n
\n Alnylam\n Pharmaceuticals, Inc.^(a)	\n	\n	\n 252	\n	\n	\n 51,791\n
\n Bristol-Myers\n Squibb Co.	\n	\n	\n 1,613	\n	\n	\n 105,345\n
\n Dexcom,\n Inc.^(a)	\n	\n	\n 948	\n	\n	\n 79,111\n
\n Exelixis,\n Inc.^(a)(b)	\n	\n	\n 1,243	\n	\n	\n 65,916\n
\n Gilead\n Sciences, Inc.	\n	\n	\n 520	\n	\n	\n 67,709\n
\n Halozyme\n Therapeutics, Inc.^(a)(b)	\n	\n	\n 586	\n	\n	\n 48,368\n
\n Neurocrine\n Biosciences, Inc.^(a)	\n	\n	\n 460	\n	\n	\n 76,728\n
\n	\n	\n	\n	\n	\n	\n 626,461\n
\n Industrials\n - 1.1%	\n	\n	\n	\n	\n	\n
\n Toro\n Co.	\n	\n	\n 479	\n	\n	\n 44,006\n
\n Technology\n - 55.5%^(c)	\n	\n	\n	\n	\n	\n
\n Adobe,\n Inc.^(a)	\n	\n	\n 410	\n	\n	\n 102,668\n
\n Apple,\n Inc.	\n	\n	\n 647	\n	\n	\n 199,865\n
\n Atlassian\n Corp. - Class A^(a)	\n	\n	\n 789	\n	\n	\n 79,701\n
\n Autodesk,\n Inc.^(a)	\n	\n	\n 438	\n	\n	\n 102,580\n
\n Bentley\n Systems, Inc. - Class B	\n	\n	\n 1,444	\n	\n	\n 51,175\n
\n Broadcom,\n Inc.	\n	\n	\n 405	\n	\n	\n 157,658\n
\n Cirrus\n Logic, Inc.^(a)	\n	\n	\n 250	\n	\n	\n 32,337\n
\n Crowdstrike\n Holdings, Inc. - Class A^(a)	\n	\n	\n 439	\n	\n	\n 83,788\n
\n Datadog,\n Inc. - Class A^(a)	\n	\n	\n 311	\n	\n	\n 83,339\n
\n Docusign,\n Inc.^(a)	\n	\n	\n 960	\n	\n	\n 52,637\n
\n	\n	\n	\n	\n	\n	\n

The\naccompanying notes are an integral part of these financial statements.

\n \n \n \n \n \n \n

TABLE OF CONTENTS

Abacus\nFCF Innovation Leaders ETF

Schedule\nof Investments

July\n31, 2026(Continued)

\n	\n	\n	\n	\n	\n	\n
\n	\n	\n	\n Shares	\n	\n	\n Value\n
\n COMMON\n STOCKS - (Continued)
\n Technology\n - (Continued)
\n Everpure,\n Inc. - Class A^(a)	\n	\n	\n 957	\n	\n	\n $73,852\n
\n Fortinet,\n Inc.^(a)	\n	\n	\n 634	\n	\n	\n 102,676\n
\n HubSpot,\n Inc.^(a)	\n	\n	\n 240	\n	\n	\n 56,966\n
\n Intuit,\n Inc.	\n	\n	\n 234	\n	\n	\n 73,960\n
\n Manhattan\n Associates, Inc.^(a)	\n	\n	\n 289	\n	\n	\n 55,303\n
\n Motorola\n Solutions, Inc.	\n	\n	\n 176	\n	\n	\n 76,692\n
\n NetApp,\n Inc.	\n	\n	\n 505	\n	\n	\n 90,142\n
\n Nutanix,\n Inc. - Class A^(a)	\n	\n	\n 1,301	\n	\n	\n 76,772\n
\n NVIDIA\n Corp.	\n	\n	\n 956	\n	\n	\n 191,917\n
\n Palo\n Alto Networks, Inc.^(a)	\n	\n	\n 309	\n	\n	\n 102,535\n
\n QUALCOMM,\n Inc.	\n	\n	\n 397	\n	\n	\n 58,601\n
\n Rubrik,\n Inc. - Class A^(a)(b)	\n	\n	\n 796	\n	\n	\n 57,599\n
\n ServiceNow,\n Inc.^(a)	\n	\n	\n 700	\n	\n	\n 77,861\n
\n Snowflake,\n Inc. - Class A^(a)	\n	\n	\n 370	\n	\n	\n 108,514\n
\n Workday,\n Inc. - Class A^(a)	\n	\n	\n 584	\n	\n	\n 93,639\n
\n	\n	\n	\n	\n	\n	\n 2,242,777\n
\n TOTAL\n COMMON STOCKS \n (Cost\n $4,221,130)	\n	\n	\n	\n	\n	\n 4,039,913\n
\n	\n	\n	\n Units	\n	\n	\n
\n SHORT-TERM\n INVESTMENTS	\n	\n	\n	\n	\n	\n
\n INVESTMENTS\n PURCHASED WITH PROCEEDS FROM SECURITIES LENDING - 3.5%	\n	\n	\n	\n	\n	\n
\n Mount\n Vernon Liquid Assets Portfolio, LLC, 3.79%^(d)	\n	\n	\n 140,942	\n	\n	\n 140,942\n
\n TOTAL\n INVESTMENTS PURCHASED WITH PROCEEDS FROM \n SECURITIES\n LENDING \n (Cost\n $140,942)	\n	\n	\n	\n	\n	\n 140,942\n
\n TOTAL\n INVESTMENTS - 103.4% \n (Cost\n $4,362,072)	\n	\n	\n	\n	\n	\n $4,180,855\n
\n Money\n Market Deposit Account - 0.0%^(e)(f)	\n	\n	\n	\n	\n	\n 1,481\n
\n Liabilities\n in Excess of Other Assets - (3.4)%	\n	\n	\n	\n	\n	\n (140,003)\n
\n TOTAL\n NET ASSETS - 100.0%	\n	\n	\n	\n	\n	\n $4,042,333
\n	\n	\n	\n	\n	\n	\n

Percentages\nare stated as a percent of net assets.

For\nFund compliance purposes, the Fund’s sector classifications refer to any one or more of the sector classifications used by one or\nmore widely recognized market indexes or ratings group indexes, and/or they may be defined by Fund management. This definition may not\napply for purposes of this report, which may combine classifications for reporting ease.

\n \n \n \n

(a)

Non-income producing\n security.

\n \n \n \n

(b)

All or a portion\n of this security is on loan as of July 31, 2026. The fair value of these securities was $134,117, which represented 3.3% of net assets.

\n \n \n \n

(c)

To the extent that\n the Fund invests more heavily in a particular industry or sector of the economy, its performance will be especially sensitive to developments\n that significantly affect that industry or sector.

\n \n \n \n

(d)

The rate shown represents\n the 7-day annualized yield as of July 31, 2026.

\n \n \n \n

(e)

The U.S. Bank Money\n Market Deposit Account (the “MMDA”) is a short-term vehicle in which the Fund holds cash balances. The MMDA will bear interest\n at a variable rate that is determined based on market conditions and is subject to change daily. The rate as of July 31, 2026 was\n 3.45%.

\n \n \n \n

(f)

Represents less than\n 0.05% of net assets.

The\naccompanying notes are an integral part of these financial statements.

\n \n \n \n \n \n \n

TABLE OF CONTENTS

Abacus\nFCF International Leaders ETF

SCHEDULE\nOF INVESTMENTS

July 31,\n2026

\n	\n	\n	\n	\n	\n	\n
\n	\n	\n	\n Shares	\n	\n	\n Value\n
\n COMMON\n STOCKS - 96.2%	\n	\n	\n	\n	\n	\n
\n Communications\n - 10.4%	\n	\n	\n	\n	\n	\n
\n Advanced\n Info Service PCL - ADR	\n	\n	\n 30,324	\n	\n	\n $341,448\n
\n Deutsche\n Telekom AG - ADR^(a)	\n	\n	\n 10,917	\n	\n	\n 336,571\n
\n NetEase,\n Inc. - ADR	\n	\n	\n 1,828	\n	\n	\n 243,617\n
\n Tencent\n Holdings Ltd.	\n	\n	\n 8,300	\n	\n	\n 502,928\n
\n TIM\n SA - ADR	\n	\n	\n 13,274	\n	\n	\n 254,463\n
\n	\n	\n	\n	\n	\n	\n 1,679,027\n
\n Consumer\n Discretionary - 9.7%	\n	\n	\n	\n	\n	\n
\n Atour\n Lifestyle Holdings Ltd. - ADR	\n	\n	\n 4,924	\n	\n	\n 169,041\n
\n Bosideng\n International Holdings Ltd. - ADR	\n	\n	\n 9,481	\n	\n	\n 279,215\n
\n Contemporary\n Amperex Technology Co. Ltd. - Class H	\n	\n	\n 5,288	\n	\n	\n 419,741\n
\n Fast\n Retailing Co. Ltd.	\n	\n	\n 496	\n	\n	\n 243,753\n
\n H\n World Group Ltd. - ADR^(a)	\n	\n	\n 4,011	\n	\n	\n 171,230\n
\n PDD\n Holdings, Inc. - ADR^(a)(b)	\n	\n	\n 3,246	\n	\n	\n 287,466\n
\n	\n	\n	\n	\n	\n	\n 1,570,446\n
\n Consumer\n Staples - 7.1%	\n	\n	\n	\n	\n	\n
\n Ambev\n SA - ADR^(a)	\n	\n	\n 91,306	\n	\n	\n 283,962\n
\n Imperial\n Brands PLC - ADR	\n	\n	\n 8,192	\n	\n	\n 309,739\n
\n Kimberly-Clark\n de Mexico SAB de CV - ADR	\n	\n	\n 23,928	\n	\n	\n 278,043\n
\n Nestle\n SA - ADR	\n	\n	\n 2,743	\n	\n	\n 274,163\n
\n	\n	\n	\n	\n	\n	\n 1,145,907\n
\n Energy\n - 4.5%	\n	\n	\n	\n	\n	\n
\n Gaztransport\n Et Technigaz SA	\n	\n	\n 862	\n	\n	\n 194,529\n
\n Hengdian\n Group DMEGC Magnetics Co. Ltd. - Class A	\n	\n	\n 40,700	\n	\n	\n 125,402\n
\n Subsea\n 7 SA - ADR	\n	\n	\n 12,118	\n	\n	\n 400,015\n
\n	\n	\n	\n	\n	\n	\n 719,946\n
\n Financials\n - 3.3%	\n	\n	\n	\n	\n	\n
\n Kaspi.KZ\n JSC - ADR	\n	\n	\n 3,390	\n	\n	\n 300,964\n
\n Zurich\n Insurance Group AG	\n	\n	\n 306	\n	\n	\n 233,082\n
\n	\n	\n	\n	\n	\n	\n 534,046\n
\n Health\n Care - 7.4%	\n	\n	\n	\n	\n	\n
\n Astellas\n Pharma, Inc. - ADR	\n	\n	\n 15,940	\n	\n	\n 218,856\n
\n Novartis\n AG - ADR^(a)	\n	\n	\n 3,412	\n	\n	\n 532,784\n
\n Roche\n Holding AG - ADR	\n	\n	\n 7,930	\n	\n	\n 433,533\n
\n	\n	\n	\n	\n	\n	\n 1,185,173\n
\n Industrials\n - 21.1%	\n	\n	\n	\n	\n	\n
\n ABB\n Ltd. - ADR	\n	\n	\n 3,620	\n	\n	\n 357,004\n
\n Frontline\n PLC	\n	\n	\n 8,018	\n	\n	\n 315,669\n
\n Rolls-Royce\n Holdings PLC - ADR^(a)	\n	\n	\n 26,209	\n	\n	\n 519,986\n
\n Safran\n SA - ADR	\n	\n	\n 3,450	\n	\n	\n 340,791\n
\n Samsung\n Heavy Industries Co. Ltd.^(b)	\n	\n	\n 19,000	\n	\n	\n 284,527\n
\n Shannon\n Semiconductor Technology Co. Ltd. - Class A	\n	\n	\n 10,000	\n	\n	\n 216,064\n
\n Siemens\n Energy AG - ADR	\n	\n	\n 12,505	\n	\n	\n 426,796\n
\n TE\n Connectivity PLC	\n	\n	\n 1,575	\n	\n	\n 323,962\n
\n	\n	\n	\n	\n	\n	\n

The\naccompanying notes are an integral part of these financial statements.

\n \n \n \n \n \n \n

TABLE OF CONTENTS

Abacus\nFCF International Leaders ETF

SCHEDULE\nOF INVESTMENTS

July\n31, 2026(Continued)

\n	\n	\n	\n	\n	\n	\n
\n	\n	\n	\n Shares	\n	\n	\n Value\n
\n COMMON\n STOCKS - (Continued)
\n Industrials\n - (Continued)
\n Techtronic\n Industries Co. Ltd. - ADR	\n	\n	\n 2,527	\n	\n	\n $210,777\n
\n Trane\n Technologies PLC	\n	\n	\n 899	\n	\n	\n 409,000\n
\n	\n	\n	\n	\n	\n	\n 3,404,576\n
\n Materials\n - 8.8%	\n	\n	\n	\n	\n	\n
\n Aluminum\n Corp. of China Ltd. - Class H	\n	\n	\n 163,200	\n	\n	\n 176,052\n
\n CMOC\n Group Ltd. - Class H	\n	\n	\n 117,306	\n	\n	\n 252,639\n
\n Evraz\n PLC^(b)(c)	\n	\n	\n 49,526	\n	\n	\n 0\n
\n Gold\n Fields, Ltd. - ADR	\n	\n	\n 8,338	\n	\n	\n 270,318\n
\n Kinross\n Gold Corp.	\n	\n	\n 11,196	\n	\n	\n 258,628\n
\n Methanex\n Corp.	\n	\n	\n 3,136	\n	\n	\n 174,205\n
\n Zijin\n Mining Group Co. Ltd. - Class H	\n	\n	\n 69,600	\n	\n	\n 294,999\n
\n	\n	\n	\n	\n	\n	\n 1,426,841\n
\n Technology\n - 23.9%	\n	\n	\n	\n	\n	\n
\n Advantest\n Corp. - ADR	\n	\n	\n 3,170	\n	\n	\n 626,614\n
\n ASML\n Holding NV	\n	\n	\n 487	\n	\n	\n 793,323\n
\n Eoptolink\n Technology, Inc. Ltd.	\n	\n	\n 5,320	\n	\n	\n 312,228\n
\n SK\n hynix, Inc.	\n	\n	\n 543	\n	\n	\n 654,327\n
\n Taiwan\n Semiconductor Manufacturing Co. Ltd. - ADR	\n	\n	\n 1,968	\n	\n	\n 795,564\n
\n Telefonaktiebolaget\n LM Ericsson - ADR^(a)	\n	\n	\n 33,664	\n	\n	\n 330,244\n
\n Zhongji\n Innolight Co. Ltd. - Class A	\n	\n	\n 2,526	\n	\n	\n 337,674\n
\n	\n	\n	\n	\n	\n	\n 3,849,974\n
\n TOTAL\n COMMON STOCKS \n (Cost\n $14,688,329)	\n	\n	\n	\n	\n	\n 15,515,936\n
\n	\n	\n	\n Contracts\n	\n	\n	\n
\n WARRANTS\n - 0.0%^(d)	\n	\n	\n	\n	\n	\n
\n Technology\n - 0.0%^(d)	\n	\n	\n	\n	\n	\n
\n Constellation\n Software, Inc.^(b)(c)	\n	\n	\n 438	\n	\n	\n 0\n
\n TOTAL\n WARRANTS \n (Cost\n $0)	\n	\n	\n	\n	\n	\n 0\n
\n	\n	\n	\n Units\n	\n	\n	\n
\n SHORT-TERM\n INVESTMENTS	\n	\n	\n	\n	\n	\n
\n INVESTMENTS\n PURCHASED WITH PROCEEDS FROM SECURITIES LENDING - 12.7%	\n	\n	\n	\n	\n	\n
\n Mount\n Vernon Liquid Assets Portfolio, LLC, 3.79%^(e)	\n	\n	\n 2,051,421	\n	\n	\n 2,051,421\n
\n TOTAL\n INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING \n (Cost\n $2,051,421)	\n	\n	\n	\n	\n	\n 2,051,421\n
\n TOTAL\n INVESTMENTS - 108.9% \n (Cost\n $16,739,750)	\n	\n	\n	\n	\n	\n $17,567,357\n
\n Money\n Market Deposit Account - 2.7%^(f)	\n	\n	\n	\n	\n	\n 443,197\n
\n Liabilities\n in Excess of Other Assets - (11.6)%	\n	\n	\n	\n	\n	\n (1,873,883)\n
\n TOTAL\n NET ASSETS - 100.0%	\n	\n	\n	\n	\n	\n $16,136,671
\n	\n	\n	\n	\n	\n	\n

The\naccompanying notes are an integral part of these financial statements.

\n \n \n \n \n \n \n

TABLE OF CONTENTS

Abacus\nFCF International Leaders ETF

SCHEDULE\nOF INVESTMENTS

July\n31, 2026(Continued)

Percentages\nare stated as a percent of net assets.

ADR\n- American Depositary Receipt

JSC\n- Public Joint Stock Company

PCL\n- Public Company Limited

\n \n \n \n

(a)

All or a portion\n of this security is on loan as of July 31, 2026. The fair value of these securities was $2,000,584, which represented 12.4% of net\n assets.

\n \n \n \n

(b)

Non-income producing\n security.

\n \n \n \n

(c)

Fair value determined\n using significant unobservable inputs in accordance with procedures established by and under the supervision of the Adviser, acting as\n Valuation Designee. These securities represented $0 or 0.0% of net assets as of July 31, 2026.

\n \n \n \n

(d)

Represents less than\n 0.05% of net assets.

\n \n \n \n

(e)

The rate shown represents\n the 7-day annualized yield as of July 31, 2026.

\n \n \n \n

(f)

Allocation\nof Portfolio Holdings by Country as of July 31, 2026

(%\nof Net Assets)

\n	\n	\n	\n	\n	\n	\n
\n China	\n	\n	\n $3,221,615	\n	\n	\n 20.0%\n
\n Switzerland	\n	\n	\n 1,830,566	\n	\n	\n 11.3\n
\n United\n Kingdom	\n	\n	\n 1,229,740	\n	\n	\n 7.6\n
\n Japan	\n	\n	\n 1,089,223	\n	\n	\n 6.8\n
\n Ireland	\n	\n	\n 1,020,428	\n	\n	\n 6.3\n
\n South\n Korea	\n	\n	\n 938,854	\n	\n	\n 5.8\n
\n Taiwan	\n	\n	\n 795,564	\n	\n	\n 4.9\n
\n Netherlands	\n	\n	\n 793,323	\n	\n	\n 4.9\n
\n Germany	\n	\n	\n 763,367	\n	\n	\n 4.7\n
\n Brazil	\n	\n	\n 538,425	\n	\n	\n 3.4\n
\n France	\n	\n	\n 535,320	\n	\n	\n 3.3\n
\n Hong\n Kong	\n	\n	\n 489,992	\n	\n	\n 3.0\n
\n Canada	\n	\n	\n 432,833	\n	\n	\n 2.7\n
\n Thailand	\n	\n	\n 341,448	\n	\n	\n 2.1\n
\n Sweden	\n	\n	\n 330,244	\n	\n	\n 2.1\n
\n Cyprus	\n	\n	\n 315,669	\n	\n	\n 2.0\n
\n Kazakhstan	\n	\n	\n 300,964	\n	\n	\n 1.9\n
\n Mexico	\n	\n	\n 278,043	\n	\n	\n 1.7\n
\n South\n Africa	\n	\n	\n 270,318	\n	\n	\n 1.7\n
\n Investments\n Purchased with Proceeds from Securities Lending	\n	\n	\n 2,051,421	\n	\n	\n 12.7\n
\n Money\n Market Deposit Account and Liabilities in Excess of Other Assets	\n	\n	\n (1,430,686)	\n	\n	\n (8.9)\n
\n	\n	\n	\n $16,136,671	\n	\n	\n 100.0%
\n	\n	\n	\n	\n	\n	\n

The\naccompanying notes are an integral part of these financial statements.

\n \n \n \n \n \n \n

TABLE OF CONTENTS

Abacus\nFCF Leaders ETF

Schedule\nof Investments

July 31,\n2026

\n	\n	\n	\n	\n	\n	\n
\n	\n	\n	\n Shares	\n	\n	\n Value\n
\n COMMON\n STOCKS - 97.3%	\n	\n	\n	\n	\n	\n
\n Communications\n - 7.2%	\n	\n	\n	\n	\n	\n
\n AppLovin\n Corp. - Class A^(a)	\n	\n	\n 19,208	\n	\n	\n $7,604,447\n
\n Booking\n Holdings, Inc.	\n	\n	\n 38,930	\n	\n	\n 7,509,597\n
\n Expedia\n Group, Inc.	\n	\n	\n 28,231	\n	\n	\n 8,320,805\n
\n New\n York Times Co. - Class A	\n	\n	\n 78,481	\n	\n	\n 5,877,442\n
\n VeriSign,\n Inc.	\n	\n	\n 28,542	\n	\n	\n 8,277,751\n
\n	\n	\n	\n	\n	\n	\n 37,590,042\n
\n Consumer\n Discretionary - 3.1%	\n	\n	\n	\n	\n	\n
\n Crocs,\n Inc.^(a)	\n	\n	\n 34,034	\n	\n	\n 4,356,692\n
\n Tapestry,\n Inc.	\n	\n	\n 79,937	\n	\n	\n 12,180,001\n
\n	\n	\n	\n	\n	\n	\n 16,536,693\n
\n Consumer\n Staples - 6.0%	\n	\n	\n	\n	\n	\n
\n Altria\n Group, Inc.	\n	\n	\n 177,610	\n	\n	\n 12,136,091\n
\n Archer-Daniels-Midland\n Co.	\n	\n	\n 105,943	\n	\n	\n 8,398,102\n
\n Colgate-Palmolive\n Co.	\n	\n	\n 60,704	\n	\n	\n 5,542,275\n
\n Philip\n Morris International, Inc.	\n	\n	\n 27,598	\n	\n	\n 5,266,250\n
\n	\n	\n	\n	\n	\n	\n 31,342,718\n
\n Energy\n - 6.1%	\n	\n	\n	\n	\n	\n
\n Antero\n Midstream Corp.	\n	\n	\n 483,534	\n	\n	\n 10,623,242\n
\n Hess\n Midstream LP - Class A	\n	\n	\n 82,666	\n	\n	\n 3,375,253\n
\n Nextpower,\n Inc. - Class A^(a)	\n	\n	\n 74,555	\n	\n	\n 6,700,258\n
\n TechnipFMC\n PLC	\n	\n	\n 156,984	\n	\n	\n 11,249,473\n
\n	\n	\n	\n	\n	\n	\n 31,948,226\n
\n Financials\n - 4.2%	\n	\n	\n	\n	\n	\n
\n Broadridge\n Financial Solutions, Inc.	\n	\n	\n 40,653	\n	\n	\n 6,258,529\n
\n Mastercard,\n Inc. - Class A	\n	\n	\n 14,338	\n	\n	\n 8,217,108\n
\n Visa,\n Inc. - Class A	\n	\n	\n 20,545	\n	\n	\n 7,522,141\n
\n	\n	\n	\n	\n	\n	\n 21,997,778\n
\n Health\n Care - 17.7%	\n	\n	\n	\n	\n	\n
\n AbbVie,\n Inc.	\n	\n	\n 59,784	\n	\n	\n 15,002,197\n
\n Amgen,\n Inc.	\n	\n	\n 14,316	\n	\n	\n 5,513,951\n
\n Bristol-Myers\n Squibb Co.	\n	\n	\n 232,064	\n	\n	\n 15,156,100\n
\n Cardinal\n Health, Inc.	\n	\n	\n 21,099	\n	\n	\n 4,853,403\n
\n Chemed\n Corp.	\n	\n	\n 8,399	\n	\n	\n 4,470,368\n
\n Eli\n Lilly & Co.	\n	\n	\n 13,534	\n	\n	\n 15,548,401\n
\n Exelixis,\n Inc.^(a)	\n	\n	\n 136,571	\n	\n	\n 7,242,360\n
\n Gilead\n Sciences, Inc.	\n	\n	\n 61,154	\n	\n	\n 7,962,862\n
\n McKesson\n Corp.	\n	\n	\n 11,375	\n	\n	\n 9,739,161\n
\n Medpace\n Holdings, Inc.^(a)	\n	\n	\n 12,774	\n	\n	\n 7,372,003\n
\n	\n	\n	\n	\n	\n	\n 92,860,806\n
\n Industrials\n - 16.8%	\n	\n	\n	\n	\n	\n
\n Argan,\n Inc.	\n	\n	\n 18,878	\n	\n	\n 10,768,578\n
\n AZZ,\n Inc.	\n	\n	\n 35,727	\n	\n	\n 5,170,411\n
\n EMCOR\n Group, Inc.	\n	\n	\n 8,880	\n	\n	\n 7,081,178\n
\n	\n	\n	\n	\n	\n	\n

The\naccompanying notes are an integral part of these financial statements.

\n \n \n \n \n \n \n

TABLE OF CONTENTS

Abacus\nFCF Leaders ETF

Schedule\nof Investments

July\n31, 2026(Continued)

\n	\n	\n	\n	\n	\n	\n
\n	\n	\n	\n Shares	\n	\n	\n Value\n
\n COMMON\n STOCKS - (Continued)
\n Industrials\n - (Continued)
\n GE\n Vernova, Inc.	\n	\n	\n 13,612	\n	\n	\n $13,479,828\n
\n Lockheed\n Martin Corp.	\n	\n	\n 17,137	\n	\n	\n 9,986,415\n
\n MYR\n Group, Inc.^(a)	\n	\n	\n 23,986	\n	\n	\n 7,992,615\n
\n Powell\n Industries, Inc.^(b)	\n	\n	\n 26,547	\n	\n	\n 5,539,828\n
\n Sterling\n Infrastructure, Inc.^(a)	\n	\n	\n 12,727	\n	\n	\n 7,595,092\n
\n Symbotic,\n Inc.^(a)	\n	\n	\n 70,520	\n	\n	\n 3,035,886\n
\n Tutor\n Perini Corp.	\n	\n	\n 75,685	\n	\n	\n 6,338,619\n
\n Vertiv\n Holdings Co. - Class A	\n	\n	\n 47,049	\n	\n	\n 11,365,627\n
\n	\n	\n	\n	\n	\n	\n 88,354,077\n
\n Materials\n - 4.0%	\n	\n	\n	\n	\n	\n
\n CF\n Industries Holdings, Inc.	\n	\n	\n 86,144	\n	\n	\n 10,784,367\n
\n Newmont\n Corp.	\n	\n	\n 48,960	\n	\n	\n 4,588,042\n
\n Southern\n Copper Corp.	\n	\n	\n 32,189	\n	\n	\n 5,881,172\n
\n	\n	\n	\n	\n	\n	\n 21,253,581\n
\n Technology\n - 32.2%^(c)	\n	\n	\n	\n	\n	\n
\n Apple,\n Inc.	\n	\n	\n 87,638	\n	\n	\n 27,072,255\n
\n Arista\n Networks, Inc.^(a)	\n	\n	\n 70,890	\n	\n	\n 12,785,011\n
\n Autodesk,\n Inc.^(a)	\n	\n	\n 30,329	\n	\n	\n 7,103,052\n
\n Broadcom,\n Inc.	\n	\n	\n 33,463	\n	\n	\n 13,026,477\n
\n Clear\n Secure, Inc. - Class A	\n	\n	\n 55,486	\n	\n	\n 3,065,047\n
\n F5,\n Inc.^(a)	\n	\n	\n 28,490	\n	\n	\n 11,469,219\n
\n Gen\n Digital, Inc.	\n	\n	\n 150,181	\n	\n	\n 4,122,468\n
\n KLA\n Corp.	\n	\n	\n 70,168	\n	\n	\n 12,828,114\n
\n Lam\n Research Corp.	\n	\n	\n 45,916	\n	\n	\n 13,454,306\n
\n NetApp,\n Inc.	\n	\n	\n 50,158	\n	\n	\n 8,953,203\n
\n NVIDIA\n Corp.	\n	\n	\n 119,625	\n	\n	\n 24,014,719\n
\n Palo\n Alto Networks, Inc.^(a)	\n	\n	\n 35,572	\n	\n	\n 11,803,857\n
\n QUALCOMM,\n Inc.	\n	\n	\n 29,684	\n	\n	\n 4,381,655\n
\n Sandisk\n Corp.^(a)	\n	\n	\n 6,251	\n	\n	\n 7,593,902\n
\n Seagate\n Technology Holdings PLC	\n	\n	\n 9,280	\n	\n	\n 7,944,886\n
\n	\n	\n	\n	\n	\n	\n 169,618,171\n
\n TOTAL\n COMMON STOCKS \n (Cost\n $442,288,801)	\n	\n	\n	\n	\n	\n 511,502,092\n
\n	\n	\n	\n Units	\n	\n	\n
\n MASTER\n LIMITED PARTNERSHIPS - 2.5%	\n	\n	\n	\n	\n	\n
\n Energy\n - 2.5%	\n	\n	\n	\n	\n	\n
\n Cheniere\n Energy Partners LP	\n	\n	\n 199,794	\n	\n	\n 13,166,425\n
\n TOTAL\n MASTER LIMITED PARTNERSHIPS \n (Cost\n $12,529,773)	\n	\n	\n	\n	\n	\n 13,166,425
\n	\n	\n	\n	\n	\n	\n

The\naccompanying notes are an integral part of these financial statements.

\n \n \n \n \n \n \n

TABLE OF CONTENTS

Abacus\nFCF Leaders ETF

Schedule\nof Investments

July\n31, 2026(Continued)

\n	\n	\n	\n	\n	\n	\n
\n	\n	\n	\n Units\n	\n	\n	\n Value
\n SHORT-TERM\n INVESTMENTS	\n	\n	\n	\n	\n	\n
\n INVESTMENTS\n PURCHASED WITH PROCEEDS FROM SECURITIES LENDING - 0.7%	\n	\n	\n	\n	\n	\n
\n Mount\n Vernon Liquid Assets Portfolio, LLC, 3.79%^(d)	\n	\n	\n 3,809,267	\n	\n	\n $3,809,267\n
\n TOTAL\n INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING \n (Cost\n $3,809,267)	\n	\n	\n	\n	\n	\n 3,809,267\n
\n TOTAL\n INVESTMENTS - 100.5% \n (Cost\n $458,627,841)	\n	\n	\n	\n	\n	\n $528,477,784\n
\n Money\n Market Deposit Account - 0.2%^(e)	\n	\n	\n	\n	\n	\n 1,236,130\n
\n Liabilities\n in Excess of Other Assets - (0.7)%	\n	\n	\n	\n	\n	\n (3,629,541)\n
\n TOTAL\n NET ASSETS - 100.0%	\n	\n	\n	\n	\n	\n $526,084,373
\n	\n	\n	\n	\n	\n	\n

Percentages\nare stated as a percent of net assets.

\n \n \n \n

(a)

Non-income producing\n security.

\n \n \n \n

(b)

All or a portion\n of this security is on loan as of July 31, 2026. The fair value of these securities was $3,723,269, which represented 0.7% of net\n assets.

\n \n \n \n

(c)

Amount represents\n investments in a particular sector. No industry within this sector represented more than 25% of the Fund’s total assets at the time\n of investment. To the extent that the Fund invests more heavily in a particular industry or sector of the economy, its performance will\n be especially sensitive to developments that significantly affect that industry or sector.

\n \n \n \n

(d)

The rate shown represents\n the 7-day annualized yield as of July 31, 2026.

\n \n \n \n

(e)

The\naccompanying notes are an integral part of these financial statements.

\n \n \n \n \n \n \n

TABLE OF CONTENTS

ABACUS\nFCF REAL ASSETS LEADERS ETF

SCHEDULE\nOF INVESTMENTS

July 31,\n2026

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

\n	\n	\n	\n	\n	\n	\n
\n	\n	\n	\n Shares\n	\n	\n	\n Value\n
\n COMMON\n STOCKS - 75.5%	\n	\n	\n	\n	\n	\n
\n Consumer\n Discretionary - 1.6%	\n	\n	\n	\n	\n	\n
\n Griffon\n Corp.	\n	\n	\n 16,781	\n	\n	\n $1,446,019\n
\n Consumer\n Staples - 5.3%	\n	\n	\n	\n	\n	\n
\n Archer-Daniels-Midland\n Co.	\n	\n	\n 42,517	\n	\n	\n 3,370,323\n
\n Cal-Maine\n Foods, Inc.^(a)	\n	\n	\n 17,314	\n	\n	\n 1,519,823\n
\n	\n	\n	\n	\n	\n	\n 4,890,146\n
\n Energy\n - 22.9%^(b)	\n	\n	\n	\n	\n	\n
\n Antero\n Midstream Corp.	\n	\n	\n 133,638	\n	\n	\n 2,936,027\n
\n APA\n Corp.	\n	\n	\n 96,400	\n	\n	\n 3,597,648\n
\n Athabasca\n Oil Corp.^(c)	\n	\n	\n 152,357	\n	\n	\n 1,125,954\n
\n California\n Resources Corp.^(a)	\n	\n	\n 18,996	\n	\n	\n 999,570\n
\n Canadian\n Natural Resources Ltd.	\n	\n	\n 43,682	\n	\n	\n 2,080,882\n
\n Devon\n Energy Corp.	\n	\n	\n 38,948	\n	\n	\n 1,757,723\n
\n EnerSys	\n	\n	\n 7,094	\n	\n	\n 1,319,839\n
\n Hess\n Midstream LP - Class A^(a)	\n	\n	\n 47,368	\n	\n	\n 1,934,035\n
\n Imperial\n Oil Ltd.	\n	\n	\n 14,798	\n	\n	\n 1,918,562\n
\n Petroleo\n Brasileiro SA - Petrobras - ADR	\n	\n	\n 185,543	\n	\n	\n 3,599,534\n
\n	\n	\n	\n	\n	\n	\n 21,269,774\n
\n Industrials\n - 24.6%	\n	\n	\n	\n	\n	\n
\n A.O.\n Smith Corp.^(a)	\n	\n	\n 36,693	\n	\n	\n 2,206,350\n
\n Allison\n Transmission Holdings, Inc.^(a)	\n	\n	\n 13,419	\n	\n	\n 1,537,012\n
\n Bombardier,\n Inc. - Class B^(c)	\n	\n	\n 5,174	\n	\n	\n 1,246,543\n
\n Grupo\n Aeroportuario del Centro Norte SAB de CV - ADR	\n	\n	\n 15,664	\n	\n	\n 1,674,482\n
\n Hitachi\n Ltd. - ADR	\n	\n	\n 103,371	\n	\n	\n 3,380,232\n
\n Itron,\n Inc.^(c)	\n	\n	\n 14,132	\n	\n	\n 1,408,395\n
\n MYR\n Group, Inc.^(c)	\n	\n	\n 2,896	\n	\n	\n 965,005\n
\n Ralliant\n Corp.	\n	\n	\n 20,862	\n	\n	\n 1,363,749\n
\n Scorpio\n Tankers, Inc.^(a)	\n	\n	\n 16,487	\n	\n	\n 1,283,678\n
\n Symbotic,\n Inc.^(a)(c)	\n	\n	\n 43,178	\n	\n	\n 1,858,813\n
\n Tutor\n Perini Corp.^(a)	\n	\n	\n 18,973	\n	\n	\n 1,588,989\n
\n Vinci\n SA - ADR	\n	\n	\n 76,915	\n	\n	\n 2,712,407\n
\n Vontier\n Corp.	\n	\n	\n 49,680	\n	\n	\n 1,596,218\n
\n	\n	\n	\n	\n	\n	\n 22,821,873\n
\n Materials\n - 19.6%	\n	\n	\n	\n	\n	\n
\n Barrick\n Mining Corp.	\n	\n	\n 25,001	\n	\n	\n 918,287\n
\n BHP\n Group Ltd. - ADR^(a)	\n	\n	\n 34,928	\n	\n	\n 2,951,067\n
\n Carlisle\n Cos., Inc.^(a)	\n	\n	\n 7,315	\n	\n	\n 2,632,815\n
\n DPM\n Metals, Inc.	\n	\n	\n 39,997	\n	\n	\n 1,406,036\n
\n Endeavour\n Mining PLC	\n	\n	\n 19,641	\n	\n	\n 929,474\n
\n Gold\n Fields, Ltd. - ADR	\n	\n	\n 60,367	\n	\n	\n 1,957,098\n
\n IAMGOLD\n Corp.^(c)	\n	\n	\n 67,714	\n	\n	\n 960,862\n
\n Kinross\n Gold Corp.	\n	\n	\n 92,972	\n	\n	\n 2,147,653\n
\n Newmont\n Corp.	\n	\n	\n 26,532	\n	\n	\n 2,486,314\n
\n Owens\n Corning^(a)	\n	\n	\n 12,803	\n	\n	\n 1,778,337\n
\n Southern\n Copper Corp.	\n	\n	\n 1	\n	\n	\n 122\n
\n	\n	\n	\n	\n	\n	\n 18,168,065\n
\n	\n	\n	\n	\n	\n	\n

The\naccompanying notes are an integral part of these financial statements.

\n \n \n \n \n \n \n

TABLE OF CONTENTS

ABACUS\nFCF REAL ASSETS LEADERS ETF

SCHEDULE\nOF INVESTMENTS

July\n31, 2026(Continued)

\n	\n	\n	\n	\n	\n	\n
\n	\n	\n	\n Shares\n	\n	\n	\n Value\n
\n COMMON\n STOCKS - (Continued)
\n Utilities\n - 1.5%	\n	\n	\n	\n	\n	\n
\n Northland\n Power, Inc.	\n	\n	\n 89,972	\n	\n	\n $1,400,427\n
\n TOTAL\n COMMON STOCKS \n (Cost\n $70,741,449)	\n	\n	\n	\n	\n	\n 69,996,304\n
\n	\n	\n	\n Units	\n	\n	\n
\n MASTER\n LIMITED PARTNERSHIPS - 16.0%	\n	\n	\n	\n	\n	\n
\n Energy\n - 14.7%^(b)	\n	\n	\n	\n	\n	\n
\n Cheniere\n Energy Partners LP	\n	\n	\n 55,387	\n	\n	\n 3,650,004\n
\n MPLX\n LP	\n	\n	\n 47,667	\n	\n	\n 2,786,136\n
\n Plains\n All American Pipeline LP	\n	\n	\n 82,114	\n	\n	\n 2,017,541\n
\n Plains\n GP Holdings LP	\n	\n	\n 70,658	\n	\n	\n 1,860,425\n
\n Western\n Midstream Partners LP	\n	\n	\n 71,253	\n	\n	\n 3,318,252\n
\n	\n	\n	\n	\n	\n	\n 13,632,358\n
\n Materials\n - 1.3%	\n	\n	\n	\n	\n	\n
\n Alliance\n Resource Partners, LP	\n	\n	\n 46,135	\n	\n	\n 1,197,203\n
\n TOTAL\n MASTER LIMITED PARTNERSHIPS \n (Cost\n $13,363,606)	\n	\n	\n	\n	\n	\n 14,829,561\n
\n	\n	\n	\n Shares	\n	\n	\n
\n REAL\n ESTATE INVESTMENT TRUSTS - 7.9%	\n	\n	\n	\n	\n	\n
\n Real\n Estate - 7.9%	\n	\n	\n	\n	\n	\n
\n Rayonier,\n Inc.	\n	\n	\n 64,809	\n	\n	\n 1,411,540\n
\n Simon\n Property Group, Inc.	\n	\n	\n 15,208	\n	\n	\n 3,488,259\n
\n Sun\n Communities, Inc.	\n	\n	\n 20,071	\n	\n	\n 2,478,367\n
\n TOTAL\n REAL ESTATE INVESTMENT TRUSTS \n (Cost\n $6,908,319)	\n	\n	\n	\n	\n	\n 7,378,166\n
\n	\n	\n	\n Units	\n	\n	\n
\n SHORT-TERM\n INVESTMENTS	\n	\n	\n	\n	\n	\n
\n INVESTMENTS\n PURCHASED WITH PROCEEDS FROM SECURITIES LENDING - 11.2%	\n	\n	\n	\n	\n	\n
\n Mount\n Vernon Liquid Assets Portfolio, LLC, 3.79%^(d)	\n	\n	\n 10,412,186	\n	\n	\n 10,412,186\n
\n TOTAL\n INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING \n (Cost\n $10,412,186)	\n	\n	\n	\n	\n	\n 10,412,186\n
\n TOTAL\n INVESTMENTS - 110.6% \n (Cost\n $101,425,560)	\n	\n	\n	\n	\n	\n $102,616,217\n
\n Money\n Market Deposit Account - 0.3%^(e)	\n	\n	\n	\n	\n	\n 273,320\n
\n Liabilities\n in Excess of Other Assets - (10.9)%	\n	\n	\n	\n	\n	\n (10,132,688)\n
\n TOTAL\n NET ASSETS - 100.0%	\n	\n	\n	\n	\n	\n $92,756,849
\n	\n	\n	\n	\n	\n	\n

The\naccompanying notes are an integral part of these financial statements.

\n \n \n \n \n \n \n

TABLE OF CONTENTS

ABACUS\nFCF REAL ASSETS LEADERS ETF

SCHEDULE\nOF INVESTMENTS

July\n31, 2026(Continued)

Percentages\nare stated as a percent of net assets.

ADR\n- American Depositary Receipt

\n \n \n \n

(a)

All or a portion\n of this security is on loan as of July 31, 2026. The fair value of these securities was $10,171,395, which represented 11.0% of net\n assets.

\n \n \n \n

(b)

\n \n \n \n

(c)

Non-income producing\n security.

\n \n \n \n

(d)

The rate shown represents\n the 7-day annualized yield as of July 31, 2026.

\n \n \n \n

(e)

The\naccompanying notes are an integral part of these financial statements.

\n \n \n \n \n \n \n

TABLE OF CONTENTS

ABACUS\nFCF SMALL CAP LEADERS ETF

SCHEDULE\nOF INVESTMENTS

July 31,\n2026

\n	\n	\n	\n	\n	\n	\n
\n	\n	\n	\n Shares	\n	\n	\n Value\n
\n COMMON\n STOCKS - 97.4%	\n	\n	\n	\n	\n	\n
\n Communications\n - 1.3%	\n	\n	\n	\n	\n	\n
\n MediaAlpha,\n Inc. - Class A^(a)	\n	\n	\n 478	\n	\n	\n $5,918\n
\n Consumer\n Discretionary - 7.7%	\n	\n	\n	\n	\n	\n
\n Hovnanian\n Enterprises, Inc. - Class A^(a)	\n	\n	\n 24	\n	\n	\n 2,974\n
\n Kontoor\n Brands, Inc.	\n	\n	\n 188	\n	\n	\n 15,743\n
\n Liquidity\n Services, Inc.^(a)	\n	\n	\n 93	\n	\n	\n 3,625\n
\n Peloton\n Interactive, Inc. - Class A^(a)	\n	\n	\n 380	\n	\n	\n 2,428\n
\n PROG\n Holdings, Inc.	\n	\n	\n 195	\n	\n	\n 8,584\n
\n Winmark\n Corp.	\n	\n	\n 8	\n	\n	\n 2,668\n
\n	\n	\n	\n	\n	\n	\n 36,022\n
\n Consumer\n Staples - 1.5%	\n	\n	\n	\n	\n	\n
\n Seneca\n Foods Corp. - Class A^(a)	\n	\n	\n 41	\n	\n	\n 6,785\n
\n Energy\n - 1.5%	\n	\n	\n	\n	\n	\n
\n Nextpower,\n Inc. - Class A^(a)	\n	\n	\n 76	\n	\n	\n 6,830\n
\n Financials\n - 21.7%	\n	\n	\n	\n	\n	\n
\n AMERISAFE,\n Inc.	\n	\n	\n 86	\n	\n	\n 2,497\n
\n Artisan\n Partners Asset Management, Inc. - Class A	\n	\n	\n 519	\n	\n	\n 20,366\n
\n Cohen\n & Steers, Inc.	\n	\n	\n 152	\n	\n	\n 12,505\n
\n Enova\n International, Inc.^(a)	\n	\n	\n 118	\n	\n	\n 29,988\n
\n PJT\n Partners, Inc. - Class A	\n	\n	\n 75	\n	\n	\n 12,623\n
\n Remitly\n Global, Inc.^(a)	\n	\n	\n 279	\n	\n	\n 6,353\n
\n Sezzle,\n Inc.^(a)	\n	\n	\n 32	\n	\n	\n 4,952\n
\n World\n Acceptance Corp.^(a)	\n	\n	\n 64	\n	\n	\n 11,508\n
\n	\n	\n	\n	\n	\n	\n 100,792\n
\n Health\n Care - 22.6%	\n	\n	\n	\n	\n	\n
\n BioCryst\n Pharmaceuticals, Inc.^(a)	\n	\n	\n 510	\n	\n	\n 4,580\n
\n Collegium\n Pharmaceutical, Inc.^(a)	\n	\n	\n 560	\n	\n	\n 19,818\n
\n Harmony\n Biosciences Holdings, Inc.^(a)	\n	\n	\n 472	\n	\n	\n 16,633\n
\n Oscar\n Health, Inc. - Class A^(a)	\n	\n	\n 867	\n	\n	\n 27,068\n
\n Pediatrix\n Medical Group, Inc.^(a)	\n	\n	\n 495	\n	\n	\n 13,123\n
\n Privia\n Health Group, Inc.^(a)	\n	\n	\n 48	\n	\n	\n 1,136\n
\n Progyny,\n Inc.^(a)	\n	\n	\n 496	\n	\n	\n 15,441\n
\n SIGA\n Technologies, Inc.	\n	\n	\n 1,026	\n	\n	\n 3,355\n
\n Tactile\n Systems Technology, Inc.^(a)	\n	\n	\n 31	\n	\n	\n 873\n
\n Xeris\n Biopharma Holdings, Inc.^(a)	\n	\n	\n 380	\n	\n	\n 3,070\n
\n	\n	\n	\n	\n	\n	\n 105,097\n
\n Industrials\n - 19.1%	\n	\n	\n	\n	\n	\n
\n AMN\n Healthcare Services, Inc.^(a)	\n	\n	\n 123	\n	\n	\n 4,137\n
\n Argan,\n Inc.	\n	\n	\n 96	\n	\n	\n 54,761\n
\n Exponent,\n Inc.	\n	\n	\n 104	\n	\n	\n 6,952\n
\n Global\n Industrial Co.	\n	\n	\n 73	\n	\n	\n 2,609\n
\n Healthcare\n Services Group, Inc.^(a)	\n	\n	\n 743	\n	\n	\n 17,312\n
\n Napco\n Security Technologies, Inc.	\n	\n	\n 81	\n	\n	\n 3,003\n
\n	\n	\n	\n	\n	\n	\n 88,774\n
\n	\n	\n	\n	\n	\n	\n

The\naccompanying notes are an integral part of these financial statements.

\n \n \n \n \n \n \n

TABLE OF CONTENTS

ABACUS\nFCF SMALL CAP LEADERS ETF

SCHEDULE\nOF INVESTMENTS

July\n31, 2026(Continued)

\n	\n	\n	\n	\n	\n	\n
\n	\n	\n	\n Shares	\n	\n	\n Value\n
\n Materials\n - 2.0%	\n	\n	\n	\n	\n	\n
\n WD-40\n Co.	\n	\n	\n 42	\n	\n	\n $9,540\n
\n Technology\n - 20.0%	\n	\n	\n	\n	\n	\n
\n Agilysys,\n Inc.^(a)	\n	\n	\n 98	\n	\n	\n 10,306\n
\n Appian\n Corp. - Class A^(a)	\n	\n	\n 356	\n	\n	\n 9,598\n
\n Arlo\n Technologies, Inc.^(a)	\n	\n	\n 704	\n	\n	\n 10,363\n
\n Box,\n Inc. - Class A^(a)	\n	\n	\n 201	\n	\n	\n 6,342\n
\n GigaCloud\n Technology, Inc. - Class A^(a)(b)	\n	\n	\n 102	\n	\n	\n 4,461\n
\n LiveRamp\n Holdings, Inc.^(a)	\n	\n	\n 297	\n	\n	\n 11,247\n
\n Nutex\n Health, Inc.^(a)	\n	\n	\n 28	\n	\n	\n 4,128\n
\n Qualys,\n Inc.^(a)	\n	\n	\n 109	\n	\n	\n 15,778\n
\n Semtech\n Corp.^(a)	\n	\n	\n 51	\n	\n	\n 6,009\n
\n Sonos,\n Inc.^(a)	\n	\n	\n 190	\n	\n	\n 2,785\n
\n Tenable\n Holdings, Inc.^(a)	\n	\n	\n 89	\n	\n	\n 2,905\n
\n Workiva,\n Inc.^(a)	\n	\n	\n 150	\n	\n	\n 8,970\n
\n	\n	\n	\n	\n	\n	\n 92,892\n
\n TOTAL\n COMMON STOCKS \n (Cost\n $410,697)	\n	\n	\n	\n	\n	\n 452,650\n
\n	\n	\n	\n Units	\n	\n	\n
\n SHORT-TERM\n INVESTMENTS	\n	\n	\n	\n	\n	\n
\n INVESTMENTS\n PURCHASED WITH PROCEEDS FROM SECURITIES \n LENDING\n - 0.9%	\n	\n	\n	\n	\n	\n
\n Mount\n Vernon Liquid Assets Portfolio, LLC, 3.79%^(c)	\n	\n	\n 4,152	\n	\n	\n 4,152\n
\n TOTAL\n INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING \n (Cost\n $4,152)	\n	\n	\n	\n	\n	\n 4,152\n
\n TOTAL\n INVESTMENTS - 98.3% \n (Cost\n $414,849)	\n	\n	\n	\n	\n	\n $456,802\n
\n Money\n Market Deposit Account - 2.6%^(d)	\n	\n	\n	\n	\n	\n 12,133\n
\n Liabilities\n in Excess of Other Assets - (0.9)%	\n	\n	\n	\n	\n	\n (4,426)\n
\n TOTAL\n NET ASSETS - 100.0%	\n	\n	\n	\n	\n	\n $464,509
\n	\n	\n	\n	\n	\n	\n

Percentages\nare stated as a percent of net assets.

\n \n \n \n

(a)

Non-income producing\n security.

\n \n \n \n

(b)

All or a portion of\n this security is on loan as of July 31, 2026. The fair value of these securities was $4,199, which represented 0.9% of net assets.

\n \n \n \n

(c)

The rate shown represents\n the 7-day annualized yield as of July 31, 2026.

\n \n \n \n

(d)

The\naccompanying notes are an integral part of these financial statements.

\n \n \n \n \n \n \n

TABLE OF CONTENTS

ABACUS\nFLEXIBLE BOND LEADERS ETF

SCHEDULE\nOF INVESTMENTS

July 31,\n2026

\n	\n	\n	\n	\n	\n	\n
\n	\n	\n	\n Shares	\n	\n	\n Value\n
\n EXCHANGE\n TRADED FUNDS - 99.3%	\n	\n	\n	\n	\n	\n
\n iShares\n 0-5 Year High Yield Corporate Bond ETF^(a)	\n	\n	\n 4,562	\n	\n	\n $192,288\n
\n iShares\n 10-20 Year Treasury Bond ETF	\n	\n	\n 3,356	\n	\n	\n 323,988\n
\n iShares\n iBoxx USD Investment Grade Corporate Bond ETF	\n	\n	\n 3,082	\n	\n	\n 327,462\n
\n iShares\n J.P. Morgan USD Emerging Markets Bond ETF^(a)	\n	\n	\n 2,007	\n	\n	\n 189,983\n
\n iShares\n MBS ETF	\n	\n	\n 3,561	\n	\n	\n 330,888\n
\n VanEck\n J. P. Morgan EM Local Currency Bond ETF	\n	\n	\n 7,604	\n	\n	\n 193,674\n
\n Vanguard\n Short-Term Treasury ETF	\n	\n	\n 5,768	\n	\n	\n 335,121\n
\n TOTAL\n EXCHANGE TRADED FUNDS \n (Cost\n $1,909,235)	\n	\n	\n	\n	\n	\n 1,893,404
\n	\n	\n	\n Units	\n	\n	\n
\n SHORT-TERM\n INVESTMENTS	\n	\n	\n	\n	\n	\n
\n INVESTMENTS\n PURCHASED WITH PROCEEDS FROM SECURITIES LENDING - 19.5%	\n	\n	\n	\n	\n	\n
\n Mount\n Vernon Liquid Assets Portfolio, LLC, 3.79%^(b)	\n	\n	\n 370,725	\n	\n	\n 370,725\n
\n TOTAL\n INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING \n (Cost\n $370,725)	\n	\n	\n	\n	\n	\n 370,725\n
\n TOTAL\n INVESTMENTS - 118.8% \n (Cost\n $2,279,960)	\n	\n	\n	\n	\n	\n $2,264,129\n
\n Money\n Market Deposit Account - 0.7%^(c)	\n	\n	\n	\n	\n	\n 12,938\n
\n Liabilities\n in Excess of Other Assets - (19.5)%	\n	\n	\n	\n	\n	\n (371,193)\n
\n TOTAL\n NET ASSETS - 100.0%	\n	\n	\n	\n	\n	\n $1,905,874
\n	\n	\n	\n	\n	\n	\n

Percentages\nare stated as a percent of net assets.

\n \n \n \n

(a)

All or a portion\n of this security is on loan as of July 31, 2026. The fair value of these securities was $363,058, which represented 19.0% of net\n assets.

\n \n \n \n

(b)

The rate shown represents\n the 7-day annualized yield as of July 31, 2026.

\n \n \n \n

(c)

The\naccompanying notes are an integral part of these financial statements.

\n \n \n \n \n \n \n

TABLE OF CONTENTS

ABACUS\nFCF ETF TRUST

STATEMENTS\nOF ASSETS AND LIABILITIES

July 31,\n2026

Abacus\n FCF

Innovation\n

Leaders\n ETF

Abacus\n FCF

International\n

Leaders\n ETF

Abacus\n FCF

Leaders\n ETF

Abacus\n FCF

Real\n Assets

Leaders\n ETF

Abacus\n FCF

Small\n Cap

Leaders\n ETF

ASSETS:

Investments,\n at value

$4,180,855

$17,567,357

$528,477,784

$102,616,217

$456,802\n

Dividends\n receivable

2,402

8,852

396,784

227,368

—\n

Cash\n - interest bearing deposit account

1,481

443,197

1,236,130

273,320

12,133\n

Security\n lending income receivable

1,570

404

2,538

26\n

Interest\n receivable

2,574

3,173

776

84\n

Dividend\n tax reclaims receivable

—

172,448

—

12,541

—\n

Foreign\n currency, at value

—

2,430

—\n

Other\n receivables

—

63,653

—\n

Total\n assets

4,184,818

18,195,998

530,114,275

103,198,843

469,045\n

LIABILITIES:

Payable\n upon return of securities loaned

140,942

2,051,421

3,809,267

10,412,186

4,152\n

Payable\n to Adviser

1,543

7,541

220,635

29,808

384\n

Payable\n to custodian foreign currency, at value

—

365

—

—\n

Total\n liabilities

142,485

2,059,327

4,029,902

10,441,994

4,536\n

NET\n ASSETS

$4,042,333

$16,136,671

$526,084,373

$92,756,849

$464,509\n

Net\n Assets Consist of:

Paid-in\n capital

$14,636,606

$29,954,706

$495,954,963

$94,330,684

$529,776\n

Total\n distributable earnings/

(accumulated\n losses)

(10,594,273)\n

(13,818,035)\n

30,129,410

(1,573,835)

(65,267)\n

Total\n net assets

$4,042,333

$16,136,671

$526,084,373

$92,756,849

$464,509\n

Net\n assets

$4,042,333

$16,136,671

$526,084,373

$92,756,849

$464,509\n

Shares\n issued and outstanding (unlimited shares authorized without par value)

100,000

525,000

6,475,000

3,000,000

20,500\n

Net\n asset value per share

$40.42

$30.74

$81.25

$30.92

$22.66\n

Cost:

Investments,\n at cost

$4,362,072

$16,739,750

$458,627,841

$101,425,560

$414,849\n

Foreign\n currency, at cost

$—

$2,434

$—\n

Proceeds:

Foreign\n currency proceeds

$—

$364

$—

$—\n

Loaned\n Securities:

at\n value (included in investments)

$134,117

$2,000,584

$3,723,269

$10,171,395

$4,199

The\naccompanying notes are an integral part of these financial statements.

\n \n \n \n \n \n \n

TABLE OF CONTENTS

ABACUS\nFCF ETF TRUST

STATEMENTS\nOF ASSETS AND LIABILITIES

July\n31, 2026(Continued)

\n	\n	\n	\n
\n	\n	\n	\n Abacus\n Flexible \n Bond\n Leaders ETF
\n ASSETS:	\n	\n	\n
\n Investments,\n at value	\n	\n	\n $2,264,129\n
\n Cash\n - interest bearing deposit account	\n	\n	\n 12,938\n
\n Security\n lending income receivable	\n	\n	\n 135\n
\n Interest\n receivable	\n	\n	\n 33\n
\n Total\n assets	\n	\n	\n 2,277,235\n
\n LIABILITIES:	\n	\n	\n
\n Payable\n upon return of securities loaned	\n	\n	\n 370,725\n
\n Payable\n to Adviser	\n	\n	\n 636\n
\n Total\n liabilities	\n	\n	\n 371,361\n
\n NET\n ASSETS	\n	\n	\n $1,905,874\n
\n Net\n Assets Consist of:	\n	\n	\n
\n Paid-in\n capital	\n	\n	\n $9,392,779\n
\n Total\n accumulated losses	\n	\n	\n (7,486,905)\n
\n Total\n net assets	\n	\n	\n $1,905,874\n
\n Net\n assets	\n	\n	\n $1,905,874\n
\n Shares\n issued and outstanding (unlimited shares authorized without par value)	\n	\n	\n 100,000\n
\n Net\n asset value per share	\n	\n	\n $19.06\n
\n Cost:	\n	\n	\n
\n Investments,\n at cost	\n	\n	\n $2,279,960\n
\n Loaned\n Securities:	\n	\n	\n
\n at\n value (included in investments)	\n	\n	\n $363,058
\n	\n	\n	\n

The\naccompanying notes are an integral part of these financial statements.

\n \n \n \n \n \n \n

TABLE OF CONTENTS

Abacus\nFCF ETF Trust

STATEMENTS\nOF OPERATIONS

For\nthe Year Ended July 31, 2026

Abacus\n FCF

Innovation\n

Leaders\n ETF

Abacus\n FCF

International\n

Leaders\n ETF

Abacus\n FCF

Leaders\n ETF

Abacus\n FCF

Real\n Assets

Leaders\n ETF

Abacus\n FCF

Small\n Cap

Leaders\n ETF

INVESTMENT\n INCOME:

Dividend\n income

$33,757

$628,178

$6,842,755

$1,255,560

$15,582\n

Less:\n dividend withholding taxes

—

(31,155)

—

(38,433)

—\n

Less:\n issuance fees^(a)

—

(28,907)

—

(14,952)

—\n

Interest\n income

206

10,842

82,102

16,272

404\n

Securities\n lending income

1,084

86,700

31,119

60,539

194\n

Total\n investment income

35,047

665,658

6,955,976

1,278,986

16,180\n

EXPENSES:

Investment\n advisory fee

29,619

137,022

3,254,974

349,647

6,640\n

Total\n expenses

29,619

137,022

3,254,974

349,647

6,640\n

Fee\n waiver from Adviser

(10,040)

—

(118,524)

(2,251)\n

Net\n expenses

19,579

137,022

3,254,974

231,123

4,389\n

Net\n investment income

15,468

528,636

3,701,002

1,047,863

11,791\n

REALIZED\n AND UNREALIZED GAIN (LOSS)

Net\n realized gain (loss) from:

Investments

596,145

(1,266,252)

3,200,986

130,158

(93,660)\n

In-kind\n redemptions

367,063

1,548,091

80,411,086

3,779,526

213,943\n

Foreign\n currency transactions

—

(16,249)

—

(49,598)

—\n

Net\n realized gain (loss)

963,208

265,590

83,612,072

3,860,086

120,283\n

Net\n change in unrealized appreciation (depreciation) on:

Investments

(681,121)

2,011,940

(24,179)

(251,090)

13,729\n

Foreign\n currency translation

—

990

—

(9)

—\n

Net\n change in unrealized appreciation (depreciation)

(681,121)

2,012,930

(24,179)

(251,099)

13,729\n

Net\n realized and unrealized gain (loss)

282,087

2,278,520

83,587,893

3,608,987

134,012\n

NET\n INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS

$297,555

$2,807,156

$87,288,895

$4,656,850

$145,803

\n \n \n \n

(a)

Issuance and American\n Depositary Receipt (“ADR”) fees represent charges assessed by depositary banks in connection with the issuance, cancellation,\n administration and servicing of ADRs held by the Funds. Such fees are included in issuance fees in the Statements of Operations.

The\naccompanying notes are an integral part of these financial statements.

\n \n \n \n \n \n \n

TABLE OF CONTENTS

Abacus\nFCF ETF Trust

STATEMENTS\nOF OPERATIONS

For\nthe Year Ended July 31, 2026(Continued)

\n	\n	\n	\n
\n	\n	\n	\n Abacus\n Flexible \n Bond\n Leaders ETF
\n INVESTMENT\n INCOME:	\n	\n	\n
\n Dividend\n income	\n	\n	\n $97,889\n
\n Interest\n income	\n	\n	\n 500\n
\n Securities\n lending income	\n	\n	\n 3,549\n
\n Total\n investment income	\n	\n	\n 101,938\n
\n EXPENSES:	\n	\n	\n
\n Investment\n advisory fee	\n	\n	\n 12,227\n
\n Total\n expenses	\n	\n	\n 12,227\n
\n Fee\n waiver from Adviser	\n	\n	\n (4,145)\n
\n Net\n expenses	\n	\n	\n 8,082\n
\n Net\n investment income	\n	\n	\n 93,856\n
\n REALIZED\n AND UNREALIZED GAIN (LOSS)	\n	\n	\n
\n Net\n realized gain (loss) from:	\n	\n	\n
\n Investments	\n	\n	\n (5,255)\n
\n In-kind\n redemptions	\n	\n	\n 12,730\n
\n Net\n realized gain (loss)	\n	\n	\n 7,475\n
\n Net\n change in unrealized appreciation (depreciation) on:	\n	\n	\n
\n Investments	\n	\n	\n (36,893)\n
\n Net\n change in unrealized appreciation (depreciation)	\n	\n	\n (36,893)\n
\n Net\n realized and unrealized gain (loss)	\n	\n	\n (29,418)\n
\n NET\n INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	\n	\n	\n $64,438
\n	\n	\n	\n

The\naccompanying notes are an integral part of these financial statements.

\n \n \n \n \n \n \n

TABLE OF CONTENTS

ABACUS\nFCF ETF TRUST

Statements\nof Changes in Net Assets

Abacus\n FCF Innovation Leaders ETF

Abacus\n FCF International Leaders ETF

Year\n Ended July 31,

2026\n

2025\n

2026\n

2025\n

OPERATIONS:

Net\n investment income (loss)

$15,468

$38,101

$528,636

$1,417,331\n

Net\n realized gain (loss)

963,208

11,476,468

265,590

3,352,116\n

Net\n change in unrealized appreciation (depreciation)

(681,121)

(4,391,073)

2,012,930

(6,083,113)\n

Net\n increase (decrease) in net assets from operations

297,555

7,123,496

2,807,156

(1,313,666)\n

DISTRIBUTIONS\n TO SHAREHOLDERS:

From\n earnings

(17,828)

(118,109)

(514,349)

(1,541,886)\n

From\n return of capital

—

(12,378)

—

Total\n distributions to shareholders

(17,828)

(118,109)

(526,727)

(1,541,886)\n

CAPITAL\n TRANSACTIONS:

Shares\n sold

—

10,905,468

—

123,634,330\n

Shares\n redeemed

(2,982,361)

(56,075,518)

(17,828,185)

(149,549,505)\n

Net\n increase (decrease) in net assets from capital transactions

(2,982,361)

(45,170,050)

(17,828,185)

(25,915,175)\n

Net\n increase (decrease) in net assets

(2,702,634)

(38,164,663)

(15,547,756)

(28,770,727)\n

NET\n ASSETS:

Beginning\n of the year

6,744,967

44,909,630

31,684,427

60,455,154\n

End\n of the year

$4,042,333

$6,744,967

$16,136,671

$31,684,427\n

SHARES\n TRANSACTIONS

Shares\n sold

—

325,000

—

4,125,000\n

Shares\n redeemed

(75,000)

(1,575,000)

(550,000)

(5,075,000)\n

Total\n increase (decrease) in shares outstanding

(75,000)

(1,250,000)

(550,000)

(950,000)

The\naccompanying notes are an integral part of these financial statements.

\n \n \n \n \n \n \n

TABLE OF CONTENTS

ABACUS\nFCF ETF TRUST

Statements\nof Changes in Net Assets (Continued)

Abacus\n FCF Leaders ETF

Abacus\n FCF Real Assets Leaders ETF

Year\n Ended July 31,

2026\n

2025\n

2026\n

2025\n

OPERATIONS:

Net\n investment income (loss)

$3,701,002

$4,733,858

$1,047,863

$1,006,709\n

Net\n realized gain (loss)

83,612,072

44,083,811

3,860,086

2,457,204\n

Net\n change in unrealized appreciation (depreciation)

(24,179)

16,579,301

(251,099)

(2,145,187)\n

Net\n increase (decrease) in net assets from operations

87,288,895

65,396,970

4,656,850

1,318,726\n

DISTRIBUTIONS\n TO SHAREHOLDERS:

From\n earnings

(4,012,442)

(4,807,346)

(2,026,811)

(1,719,115)\n

Total\n distributions to shareholders

(4,012,442)

(4,807,346)

(2,026,811)

(1,719,115)\n

CAPITAL\n TRANSACTIONS:

Shares\n sold

210,654,227

614,320,635

71,601,808

63,843,610\n

Shares\n redeemed

(488,657,303)

(367,061,340)

(38,121,655)

(51,472,042)\n

Net\n increase (decrease) in net assets from capital transactions

(278,003,076)

247,259,295

33,480,153

12,371,568\n

Net\n increase (decrease) in net assets

(194,726,623)

307,848,919

36,110,192

11,971,179\n

NET\n ASSETS:

Beginning\n of the year

720,810,996

412,962,077

56,646,657

44,675,478\n

End\n of the year

$526,084,373

$720,810,996

$92,756,849

$56,646,657\n

SHARES\n TRANSACTIONS

Shares\n sold

2,900,000

9,100,000

2,300,000

2,225,000\n

Shares\n redeemed

(6,775,000)

(5,375,000)

(1,275,000)

(1,675,000)\n

Total\n increase (decrease) in shares outstanding

(3,875,000)

3,725,000

1,025,000

550,000

The\naccompanying notes are an integral part of these financial statements.

\n \n \n \n \n \n \n

TABLE OF CONTENTS

ABACUS\nFCF ETF TRUST

Statements\nof Changes in Net Assets (Continued)

Abacus\n FCF Small Cap Leaders ETF

Abacus\n Flexible Bond Leaders ETF

Year\n Ended

July 31,\n 2026

Period\n Ended

July 31,\n 2025^(a)

Year\n Ended July 31,

2026\n

2025\n

OPERATIONS:

Net\n investment income (loss)

$11,791

$2,872

$93,856

$807,656\n

Net\n realized gain (loss)

120,283

118,889

7,475

481,935\n

Net\n change in unrealized appreciation (depreciation)

13,729

(191,238)

(36,893)

(576,451)\n

Net\n increase (decrease) in net assets from operations

145,803

(69,477)

64,438

713,140\n

DISTRIBUTIONS\n TO SHAREHOLDERS:

From\n earnings

(145,810)

(3,005)

(98,054)

(935,651)\n

Total\n distributions to shareholders

(145,810)

(3,005)

(98,054)

(935,651)\n

CAPITAL\n TRANSACTIONS:

Shares\n sold

201,051

1,234,667

485,810

—\n

Shares\n redeemed

(898,720)

—

(982,090)

(27,634,485)\n

Net\n increase (decrease) in net assets from capital transactions

(697,669)

1,234,667

(496,280)

(27,634,485)\n

Net\n increase (decrease) in net assets

(697,676)

1,162,185

(529,896)

(27,856,996)\n

NET\n ASSETS:

Beginning\n of the period/year

1,162,185

—

2,435,770

30,292,766\n

End\n of the period/year

$464,509

$\n 1,162,185

$\n 1,905,874

$2,435,770\n

SHARES\n TRANSACTIONS

Shares\n sold

10,000

50,500

25,000

—\n

Shares\n redeemed

(40,000)

—

(50,000)

(1,300,000)\n

Total\n increase (decrease) in shares outstanding

(30,000)

50,500

(25,000)

(1,300,000)

\n \n \n \n

(a)

Inception date of\n the Fund was February 18, 2025.

The\naccompanying notes are an integral part of these financial statements.

\n \n \n \n \n \n \n

TABLE OF CONTENTS

ABACUS\nFCF INNOVATION LEADERS ETF

FINANCIAL\nHIGHLIGHTS

Year\n Ended July 31,

2026

2025

2024

2023

2022\n

PER\n SHARE DATA:

Net\n asset value, beginning of year

$38.54

$31.52

$26.74

$23.99

$29.61\n

INVESTMENT\n OPERATIONS:

Net\n investment income^(a)

0.12

0.07

0.14

0.17

0.12\n

Net\n realized and unrealized gain (loss) on investments^(b)

1.89

7.49

4.86

2.85

(4.34)\n

Total\n from investment operations

2.01

7.56

5.00

3.02

(4.22)\n

LESS\n DISTRIBUTIONS FROM:

Net\n investment income

(0.13)

(0.54)

(0.22)

(0.27)

(0.05)\n

Net\n realized gains

—

(1.35)\n

Total\n distributions

(0.13)

(0.54)

(0.22)

(0.27)

(1.40)\n

Net\n asset value, end of year

$40.42

$38.54

$31.52

$26.74

$23.99\n

Total\n return

5.25%^(f)

24.11%^(f)

18.76%

12.84%

−15.16%\n

SUPPLEMENTAL\n DATA AND RATIOS:

Net\n assets, end of year (in thousands)

$4,042

$6,745

$44,910

$39,446

$92,953\n

Ratio\n of expenses to average net assets:

Before\n expense waiver/recoupment

0.59%

0.67%^(c)

0.69%

0.69%\n

After\n expense waiver/recoupment

0.39%

0.64%^(d)

0.69%

0.69%\n

Ratio\n of net investment income to average

net\n assets

0.31%

0.20%

0.50%

0.72%

0.45%\n

Portfolio\n turnover rate^(e)

73%

79%

86%

161%

82%

\n \n \n \n

(a)

Net investment income\n per share has been calculated based on average shares outstanding during the years.

\n \n \n \n

(b)

Realized and unrealized\n gains and losses per share in the caption are balancing amounts necessary to reconcile the change in net asset value per share for the\n periods and may not reconcile with the aggregate gains and losses in the Statement of Operations due to share transactions for the periods.

\n \n \n \n

(c)

Effective February 1,\n 2025, the management fee charged by the Fund was reduced to 0.59%. Prior to February 1, 2025, the management fee charged by the Fund\n was 0.69%.

\n \n \n \n

(d)

Effective February 1,\n 2025, the Adviser agreed to waive a portion of the Fund’s management fee equal to 0.20% of the Fund’s average daily net assets\n through at least November 28, 2026.

\n \n \n \n

(e)

Portfolio turnover\n rate excludes in-kind transactions.

\n \n \n \n

(f)

The total return presented\n would have been lower had the Adviser not waived a portion of their fees.

The\naccompanying notes are an integral part of these financial statements.

\n \n \n \n \n \n \n

TABLE OF CONTENTS

ABACUS\nFCF INTERNATIONAL LEADERS ETF

FINANCIAL\nHIGHLIGHTS

Year\n Ended July 31,

2026

2025

2024

2023

2022\n

PER\n SHARE DATA:

Net\n asset value, beginning of year

$29.47

$29.85

$27.96

$29.27

$36.38\n

INVESTMENT\n OPERATIONS:

Net\n investment income^(a)

0.65

0.56

0.55

1.02

1.12\n

Net\n realized and unrealized gain (loss) on investments^(b)

1.38

(0.14)

1.93

0.43

(7.50)\n

Total\n from investment operations

2.03

0.42

2.48

1.45

(6.38)\n

LESS\n DISTRIBUTIONS FROM:

Net\n investment income

(0.74)

(0.80)

(0.59)

(2.76)

(0.31)\n

Net\n realized gains

—

(0.42)\n

Return\n of capital

(0.02)

—

Total\n distributions

(0.76)

(0.80)

(0.59)

(2.76)

(0.73)\n

ETF\n transaction fees per share

—

0.00^(c)

—\n

Net\n asset value, end of year

$30.74

$29.47

$29.85

$27.96

$29.27\n

Total\n return

6.87%

1.38%

9.00%

6.02%

−17.93%\n

SUPPLEMENTAL\n DATA AND RATIOS:

Net\n assets, end of year (in thousands)

$16,137

$31,684

$60,455

$53,826

$54,157\n

Ratio\n of expenses to average net assets

0.54%

0.57%^(d)

0.59%

0.59%\n

Ratio\n of net investment income to average net assets

2.08%

1.89%

1.95%

3.79%

3.32%\n

Portfolio\n turnover rate^(e)

99%

143%

55%

62%

42%

\n \n \n \n

(a)

Net investment income\n per share has been calculated based on average shares outstanding during the years.

\n \n \n \n

(b)

\n \n \n \n

(c)

Amount represents\n less than $0.005 per share.

\n \n \n \n

(d)

Effective February 1,\n 2025, the management fee charged by the Fund was reduced to 0.54%. Prior to February 1, 2025, the management fee charged by the Fund\n was 0.59%.

\n \n \n \n

(e)

Portfolio turnover\n rate excludes in-kind transactions.

The\naccompanying notes are an integral part of these financial statements.

\n \n \n \n \n \n \n

TABLE OF CONTENTS

ABACUS\nFCF LEADERS ETF

FINANCIAL\nHIGHLIGHTS

Year\n Ended July 31,

2026

2025

2024

2023

2022\n

PER\n SHARE DATA:

Net\n asset value, beginning of year

$69.64

$62.33

$54.00

$48.81

$55.12\n

INVESTMENT\n OPERATIONS:

Net\n investment income^(a)

0.41

0.52

0.49

0.53

0.60\n

Net\n realized and unrealized gain (loss) on investments^(b)

11.65

7.33

8.26

5.61

(1.59)\n

Total\n from investment operations

12.06

7.85

8.75

6.14

(0.99)\n

LESS\n DISTRIBUTIONS FROM:

Net\n investment income

(0.45)

(0.54)

(0.42)

(0.52)

(0.47)\n

Net\n realized gains

—

(0.43)

(4.85)\n

Total\n distributions

(0.45)

(0.54)

(0.42)

(0.95)

(5.32)\n

Net\n asset value, end of year

$81.25

$69.64

$62.33

$54.00

$48.81\n

Total\n return

17.37%

12.65%

16.29%

12.87%

−2.92%^(c)\n

SUPPLEMENTAL\n DATA AND RATIOS:

Net\n assets, end of year (in thousands)

$526,084

$720,811

$412,962

$203,857

$176,938\n

Ratio\n of expenses to average net assets

0.49%

0.53%^(d)

0.59%

0.59%\n

Ratio\n of net investment income to average

net\n assets

0.56%

0.78%

0.85%

1.09%

1.15%\n

Portfolio\n turnover rate^(e)

104%

98%

70%

39%

51%

\n \n \n \n

(a)

Net investment income\n per share has been calculated based on average shares outstanding during the years.

\n \n \n \n

(b)

\n \n \n \n

(c)

During the fiscal\n year ended July 31, 2022, the Adviser reimbursed the Fund for certain losses. Had the Fund not been reimbursed for these losses the\n total return would have remained at −2.92%.

\n \n \n \n

(d)

Effective February 1,\n 2025, the management fee charged by the Fund was reduced to 0.49%. Prior to February 1, 2025, the management fee charged by the Fund\n was 0.59%.

\n \n \n \n

(e)

Portfolio turnover\n rate excludes in-kind transactions.

The\naccompanying notes are an integral part of these financial statements.

\n \n \n \n \n \n \n

TABLE OF CONTENTS

ABACUS\nFCF REAL ASSETS LEADERS ETF

FINANCIAL\nHIGHLIGHTS

Year\n Ended July 31,

Period\n Ended

July 31,\n 2022^(a)

2026

2025

2024

2023\n

PER\n SHARE DATA:

Net\n asset value, beginning of period

$28.68

$31.35

$28.37

$26.31

$25.00\n

INVESTMENT\n OPERATIONS:

Net\n investment income^(b)

0.54

0.85

0.98

1.21

0.63\n

Net\n realized and unrealized gain (loss) on investments^(c)

2.80

(0.87)

3.35

3.10

1.11\n

Total\n from investment operations

3.34

(0.02)

4.33

4.31

1.74\n

LESS\n DISTRIBUTIONS FROM:

Net\n investment income

(1.10)

(2.65)

(1.35)

(1.50)

(0.43)\n

Net\n realized gains

—

(0.75)

—\n

Total\n distributions

(1.10)

(2.65)

(1.35)

(2.25)

(0.43)\n

Net\n asset value, end of period

$30.92

$28.68

$31.35

$28.37

$26.31\n

Total\n return^(d)

11.85%⁽ⁱ⁾

0.14%⁽ⁱ⁾

15.86%

17.62%

6.88%\n

SUPPLEMENTAL\n DATA AND RATIOS:

Net\n assets, end of period (in thousands)

$92,757

$56,647

$44,675

$41,848

$34,857\n

Ratio\n of expenses to average net assets:

Before\n expense waiver/recoupment^(e)

0.59%

0.63%^(f)

0.69%

0.69%\n

After\n expense waiver/recoupment^(e)

0.39%

0.51%^(g)

0.69%

0.69%\n

Ratio\n of net investment income to average net assets^(e)

1.77%

2.89%

3.39%

4.62%

3.79%\n

Portfolio\n turnover rate^(d)(h)

151%

101%

84%

90%

48%

\n \n \n \n

(a)

Inception date of\n the Fund was December 13, 2021.

\n \n \n \n

(b)

Net investment income\n per share has been calculated based on average shares outstanding during the periods.

\n \n \n \n

(c)

\n \n \n \n

(d)

Not annualized for\n periods less than one year.

\n \n \n \n

(e)

Annualized for periods\n less than one year.

\n \n \n \n

(f)

Effective February 1,\n 2025, the management fee charged by the Fund was reduced to 0.59%. Prior to February 1, 2025, the management fee charged by the Fund\n was 0.69%.

\n \n \n \n

(g)

Effective February 1,\n 2025, the Adviser agreed to waive a portion of the Fund’s management fee equal to 0.20% of the Fund’s average daily net assets\n through at least November 28, 2026.

\n \n \n \n

(h)

Portfolio turnover\n rate excludes in-kind transactions.

\n \n \n \n

(i)

The total return presented\n would have been lower had the Adviser not waived a portion of their fees.

The\naccompanying notes are an integral part of these financial statements.

\n \n \n \n \n \n \n

TABLE OF CONTENTS

ABACUS\nFCF SMALL CAP LEADERS ETF

FINANCIAL\nHIGHLIGHTS

\n	\n	\n	\n	\n	\n	\n
\n	\n	\n	\n Year\n Ended \n July 31,\n 2026	\n	\n	\n Period\n Ended \n July 31,\n 2025^(a)
\n PER\n SHARE DATA:	\n	\n	\n	\n	\n	\n
\n Net\n asset value, beginning of period	\n	\n	\n $23.01	\n	\n	\n $25.00\n
\n INVESTMENT\n OPERATIONS:	\n	\n	\n	\n	\n	\n
\n Net\n investment income^(b)	\n	\n	\n 0.23	\n	\n	\n 0.06\n
\n Net\n realized and unrealized gain (loss) on investments^(c)	\n	\n	\n 2.29	\n	\n	\n (1.99)\n
\n Total\n from investment operations	\n	\n	\n 2.52	\n	\n	\n (1.93)\n
\n LESS\n DISTRIBUTIONS FROM:	\n	\n	\n	\n	\n	\n
\n Net\n investment income	\n	\n	\n (0.22)	\n	\n	\n (0.06)\n
\n Net\n realized gains	\n	\n	\n (2.65)	\n	\n	\n —\n
\n Total\n distributions	\n	\n	\n (2.87)	\n	\n	\n (0.06)\n
\n Net\n asset value, end of period	\n	\n	\n $22.66	\n	\n	\n $23.01\n
\n Total\n return^(d)(g)	\n	\n	\n 12.47%	\n	\n	\n −7.77%\n
\n SUPPLEMENTAL\n DATA AND RATIOS:	\n	\n	\n	\n	\n	\n
\n Net\n assets, end of period (in thousands)	\n	\n	\n $465	\n	\n	\n $1,162\n
\n Ratio\n of expenses to average net assets:	\n	\n	\n	\n	\n	\n
\n Before\n expense waiver/recoupment^(e)	\n	\n	\n 0.59%	\n	\n	\n 0.59%\n
\n After\n expense waiver/recoupment^(e)	\n	\n	\n 0.39%	\n	\n	\n 0.39%\n
\n Ratio\n of net investment income to average net assets^(e)	\n	\n	\n 1.05%	\n	\n	\n 0.58%\n
\n Portfolio\n turnover rate^(d)(f)	\n	\n	\n 108%	\n	\n	\n 83%
\n	\n	\n	\n	\n	\n	\n

\n \n \n \n

(a)

Inception date of\n the Fund was February 18, 2025.

\n \n \n \n

(b)

Net investment income\n per share has been calculated based on average shares outstanding during the periods.

\n \n \n \n

(c)

\n \n \n \n

(d)

Not annualized for\n periods less than one year.

\n \n \n \n

(e)

Annualized for periods\n less than one year.

\n \n \n \n

(f)

Portfolio turnover\n rate excludes in-kind transactions.

\n \n \n \n

(g)

The total return presented\n would have been lower had the Adviser not waived a portion of their fees.

The\naccompanying notes are an integral part of these financial statements.

\n \n \n \n \n \n \n

TABLE OF CONTENTS

ABACUS\nFLEXIBLE BOND LEADERS ETF

FINANCIAL\nHIGHLIGHTS

Year\n Ended July 31,

2026

2025

2024

2023

2022\n

PER\n SHARE DATA:

Net\n asset value, beginning of year

$19.49

$21.26

$20.88

$22.13

$25.23\n

INVESTMENT\n OPERATIONS:

Net\n investment income^(a)

0.89

1.30

1.11

0.93

0.61\n

Net\n realized and unrealized gain (loss) on investments^(b)

(0.34)

(0.15)

0.38

(1.33)

(3.08)\n

Total\n from investment operations

0.55

1.15

1.49

(0.40)

(2.47)\n

LESS\n DISTRIBUTIONS FROM:

Net\n investment income

(0.98)

(2.92)

(1.11)

(0.85)

(0.63)\n

Total\n distributions

(0.98)

(2.92)

(1.11)

(0.85)

(0.63)\n

Net\n asset value, end of year

$19.06

$19.49

$21.26

$20.88

$22.13\n

Total\n return

2.81%^(g)

5.95%^(g)

7.39%

−1.73%

−9.96%\n

SUPPLEMENTAL\n DATA AND RATIOS:

Net\n assets, end of year (in thousands)

$1,906

$2,436

$30,293

$31,319

$47,587\n

Ratio\n of expenses to average net assets:

Before\n expense waiver/recoupment^(c)

0.59%

0.68%^(d)

0.69%

0.69%\n

After\n expense waiver/recoupment^(c)

0.39%

0.66%^(e)

0.69%

0.69%\n

Ratio\n of net investment income to average net assets^(c)(h)

4.53%

6.14%

5.34%

4.44%

2.52%\n

Portfolio\n turnover rate^(f)

260%

459%

662%

792%

1,029%

\n \n \n \n

(a)

Net investment income\n per share has been calculated based on average shares outstanding during the years.

\n \n \n \n

(b)

\n \n \n \n

(c)

Ratios do not include\n the expenses of the underlying investment companies in which the Fund invests.

\n \n \n \n

(d)

Effective February 1,\n 2025, the management fee charged by the Fund was reduced to 0.59%. Prior to February 1, 2025, the management fee charged by the Fund\n was 0.69%.

\n \n \n \n

(e)

Effective February 1,\n 2025, the Adviser agreed to waive a portion of the Fund’s management fee equal to 0.20% of the Fund’s average daily net assets\n through at least November 28, 2026.

\n \n \n \n

(f)

Portfolio turnover\n rate excludes in-kind transactions.

\n \n \n \n

(g)

The total return presented\n would have been lower had the Adviser not waived a portion of their fees.

\n \n \n \n

(h)

Fund net investment\n income is impacted by the timing and declaration of dividends by the underlying investment companies in which the Fund invests.

The\naccompanying notes are an integral part of these financial statements.

\n \n \n \n \n \n \n

TABLE OF CONTENTS

ABACUS\nFCF ETF TRUST

NOTES\nTO FINANCIAL STATEMENTS

July 31,\n2026

1.\nORGANIZATION

The\nAbacus FCF Innovation Leaders ETF (“ABOT”) (formerly known as the Donoghue Forlines Innovation ETF), Abacus FCF International\nLeaders ETF (“ABLG”) (formerly known as the FCF International Quality ETF), Abacus FCF Leaders ETF (“ABFL”) (formerly\nknown as the FCF US Quality ETF), Abacus FCF Real Assets Leaders ETF (“ABLD”) (formerly known as the Donoghue Forlines Yield\nEnhanced Real Asset ETF), Abacus FCF Small Cap Leaders ETF (“ABLS”) and Abacus Flexible Bond Leaders ETF (“ABXB”)\n(formerly known as the Abacus Tactical High Yield ETF and, prior to that, Donoghue Forlines Tactical High Yield ETF) (each, a “Fund,”\nand collectively, the “Funds”) are each a series of the Abacus FCF ETF Trust (formerly known as the TrimTabs ETF Trust) (the\n“Trust”). The Trust was organized as a Delaware statutory trust on April 2, 2014. Each Fund is classified as a diversified,\nopen-end management investment company registered under the Investment Company Act of 1940, as amended (the “1940 Act”). ABFL\ncommenced operations on September 27, 2016 and that is the date the initial creation units were established. The Fund seeks to generate\nlong-term returns in excess of the total return of the Russell 3000^® Index (the “Russell Index”), with less\nvolatility than the Russell Index. ABLG commenced operations on June 27, 2017 and that is the date the initial creation units were\nestablished. The Fund seeks to generate long-term total returns. ABXB commenced operations on December 7, 2020 and that is the date\nthe initial creation units were established. The Fund seeks to provide investment results that closely correspond, before fees and expenses,\nto the performance of the Abacus Flexible Bond Leaders Index. ABXB is a “fund of funds”, meaning it will generally invest\nits assets in other registered investment companies. ABOT commenced operations on December 7, 2020 and that is the date the initial\ncreation units were established. The Fund seeks to provide investment results that closely correspond, before fees and expenses, to the\nperformance of the Abacus FCF Innovation Leaders Index. ABLD commenced operations on December 13, 2021 and that is the date the initial\ncreation units were established. The Fund seeks to provide investment results that closely correspond, before fees and expenses, to the\nperformance of the Abacus FCF Real Assets Leaders Index. ABLS commenced operations on February 18, 2025 and that is the date the\ninitial creation units were established. On February 18, 2025, all of the assets of a separately managed account (the “Predecessor\nAccount”), which had been managed by the Abacus FCF Advisors LLC (the “Adviser”) since March 18, 2021, and had\ninvestment policies, objectives, guidelines and restrictions that were in all material respects equivalent to those of ABLS, were transferred\nto ABLS in a tax-free transaction (the “Transaction”). Prior to the date of the Transaction, ABLS had not commenced investment\noperations. As part of the commencement of operations on February 18, 2025, ABLS received an in-kind contribution from the Predecessor\nAccount, which consisted of $10,508 of cash and $1,002,675 of securities which were recorded at their fair value. However, as the Transaction\nwas determined to be a non-taxable transaction by management, the Fund elected to retain the securities’ original cost basis for\nbook and tax purposes to align ongoing reporting. The cost of the contributed securities as of February 18, 2025 was $783,213, resulting\nin net unrealized appreciation on investments of $219,462 as of the Transaction date. ABLS issued 40,500 shares at $25.02 per share net\nasset value. ABLS seeks to provide investment results that closely correspond, before fees and expenses, generally to the performance\nof the Abacus FCF Small Cap Leaders Index.

Shares\nof the Funds are listed and traded on the Cboe BZX Exchange, Inc. (“Cboe” or the “Exchange”). Market prices for\nthe shares may be different from their net asset value (“NAV”). Each Fund issues and redeems shares on a continuous basis\nat NAV only in large blocks of shares, called “Creation Units,” which generally consist of 25,000 shares. Creation Units are\nissued and redeemed principally in-kind for securities included in a specified universe. Once created, shares generally trade in the secondary\nmarket at market prices that change throughout the day in amounts less than a Creation Unit. Except when aggregated in Creation Units,\nshares are not redeemable securities of a Fund. Shares of a Fund may only be purchased directly from or redeemed directly to a Fund by\ncertain financial institutions (“Authorized Participants”). An Authorized Participant is either (i) a broker-dealer or other\nparticipant in the clearing process through the Continuous Net Settlement System of the National Securities Clearing Corporation or (ii)\na DTC participant and, in each case, must have executed a Participant Agreement with Quasar Distributors, LLC (the “Distributor”).\nMost retail investors do not qualify as Authorized Participants or have the resources to buy and sell whole Creation Units. Therefore,\nmost retail investors may purchase shares in the secondary market with the assistance of a broker and are subject to customary brokerage\ncommissions or fees.

Each\nFund currently offers one class of shares, which have no front-end sales loads, no deferred sales charges, and no redemption fees. A purchase\n(i.e., creation) transaction fee is imposed for the transfer and other transaction costs associated with the purchase of Creation Units.\nEach Fund charges $300 for the standard fixed creation fee, payable to

\n \n \n \n \n \n \n

TABLE OF CONTENTS

ABACUS\nFCF ETF TRUST

NOTES\nTO FINANCIAL STATEMENTS

July\n31, 2026(Continued)

the\nCustodian. In addition, a variable fee may be charged on all cash transactions or substitutes for Creation Units of up to a maximum of\n2% as a percentage of the total value of the Creation Units subject to the transaction. Variable fees received by each Fund are displayed\nin the Capital Share Transactions section of the Statements of Changes in Net Assets. There were no variable fees charged in any Fund\nduring the fiscal year. Each Fund may issue an unlimited number of shares of beneficial interest, with no par value. Shares of each Fund\nhave equal rights and privileges with respect to such Fund.

2.\nSIGNIFICANT ACCOUNTING POLICIES

Each\nFund is a registered investment company and accordingly follows the investment company accounting and reporting guidance of the Financial\nAccounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 946 Financial Services –\nInvestment Companies.

The\nfollowing is a summary of significant accounting policies followed by each Fund in the preparation of their financial statements. These\npolicies are in conformity with accounting principles generally accepted in the United States of America (“GAAP”).

Security\nTransactions and Investment Income: Investment securities transactions are accounted for on the trade\ndate. Gains and losses realized on sales of securities are computed on the basis of specific identification. Dividend income and income\nfrom underlying investment companies is recorded on the ex-dividend date. Withholding taxes on foreign dividends have been provided for\nin accordance with the Funds’ understanding of the applicable tax rules and regulations. Interest income is recorded on an accrual\nbasis. Discounts and premiums on securities purchased are accreted and amortized over the lives of the respective securities using the\neffective interest method.

Dividend\nDistributions: Distributions to shareholders are recorded on the ex-dividend date and are determined\nin accordance with federal income tax regulations, which may differ from GAAP. Each Fund distributes all or substantially all of its net\ninvestment income to shareholders in the form of dividends.

Federal\nIncome Taxes: The Funds comply with the requirements of subchapter M of the Internal Revenue Code of\n1986, as amended, necessary to qualify as regulated investment companies and distribute substantially all net taxable investment income\nand net realized gains to shareholders in a manner which results in no tax cost to the Funds. Therefore, no federal income tax provision\nis required. As of and during the year ended July 31, 2026, the Funds did not have any tax positions that did not meet the “more-likely-than-not”\nthreshold of being sustained by the applicable tax authority. As of and during the year ended July 31, 2026, the Funds did not have\nliabilities for any unrecognized tax benefits on uncertain tax positions as income tax expense in the Statements of Operations. During\nthe year ended July 31, 2026, the Funds did not incur any interest or penalties. The Funds are subject to examination by U.S. taxing\nauthorities for the prior three fiscal years.

Currency\nTranslation: Assets and liabilities, including investment securities, denominated in currencies other\nthan U.S. dollars are translated into U.S. dollars at the exchange rates supplied by one or more pricing vendors on the valuation date.\nPurchases and sales of investment securities and income and expenses are translated into U.S. dollars at the exchange rates on the dates\nof such transactions. The effects of changes in exchange rates on investment securities are included with the net realized gain or loss\nand net unrealized appreciation or depreciation on investments in the Funds’ Statements of Operations. The realized gain or loss\nand unrealized appreciation or depreciation resulting from all other transactions denominated in currencies other than U.S. dollars are\ndisclosed separately.

Use\nof Estimates: The preparation of financial statements in conformity with GAAP requires management to\nmake estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities\nat the date of the financial statements, and the reported amounts of increases and decreases in net assets from operations during the\nreporting period. Actual results could differ from those estimates.

Share\nValuation: The NAV per share of each Fund is calculated by dividing the sum of the value of the securities\nheld by the Fund, plus cash and other assets, minus all liabilities (including estimated accrued expenses) by the total number of shares\noutstanding for the Fund, rounded to the nearest cent. The offering and redemption price per share for each Fund is equal to the Fund’s\nnet asset value per share.

\n \n \n \n \n \n \n

TABLE OF CONTENTS

ABACUS\nFCF ETF TRUST

NOTES\nTO FINANCIAL STATEMENTS

July\n31, 2026(Continued)

Guarantees\nand Indemnifications: The Funds indemnify their officers and trustees for certain liabilities that may\narise from the performance of their duties to the Funds. Additionally, in the normal course of business, the Trust enters into contracts\nwith its vendors and others that provide for general indemnifications. The Trust and Funds’ maximum exposure under these arrangements\nis unknown, as this would involve future claims that may be made against the Funds. However, based on industry experience, the Funds expect\nthat risk of loss to be remote.

Reclassification\nof Capital Accounts: U.S. GAAP requires that certain components of net assets relating to permanent\ndifferences be reclassified between financial and tax reporting. These reclassifications have no effect on net assets or NAV per share.\nFor the fiscal year ended July 31, 2026, the following table shows the reclassifications made:

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

\n	\n	\n	\n	\n	\n	\n
\n Fund	\n	\n	\n Distributable\n Earnings \n (Accumulated\n Deficit)	\n	\n	\n Paid-In\n Capital
\n ABOT	\n	\n	\n $(357,633)	\n	\n	\n $357,633\n
\n ABLG	\n	\n	\n $(1,506,417)	\n	\n	\n $1,506,417\n
\n ABFL	\n	\n	\n $(75,037,195)	\n	\n	\n $75,037,195\n
\n ABLD	\n	\n	\n $(3,642,626)\n	\n	\n	\n $3,642,626\n
\n ABLS	\n	\n	\n $(212,240)\n	\n	\n	\n $212,240\n
\n ABXB	\n	\n	\n $(12,730)	\n	\n	\n $12,730
\n	\n	\n	\n	\n	\n	\n

Underlying\nInvestment in Other Investment Companies: ABXB seeks to provide investment results that closely correspond,\nbefore fees and expenses, to the performance of the Abacus Flexible Bond Leaders Index. The Fund seeks to achieve its investment objective\nby investing in Underlying ETFs. As of July 31, 2026, the Fund did not hold any investment that exceeded 20% of its total net assets.\n

The\nFunds participate in the securities lending program and receive cash collateral in return for securities lent. The collateral is invested\nin the Mount Vernon Liquid Assets Portfolio, LLC of which the investment objective is to seek to maximize current income to the extent\nconsistent with the preservation of capital and liquidity and to maintain a stable net asset value of $1.00 per unit by investing in dollar-denominated\nsecurities with remaining maturities of 397 calendar days or less. As of July 31, 2026, none of the Funds had an investment in the Mount\nVernon Liquid Assets Portfolio, LLC that exceeded 20% of their total net assets.

Subsequent\nEvents: The Trust has evaluated the need for disclosures and/or adjustments resulting from subsequent\nevents through the date the financial statements were issued. Based on this evaluation, no adjustments or disclosures were required to\nthe financial statements.

3.\nSECURITIES VALUATION

Investment\nValuation: Each Fund calculates its net asset value (“NAV”) each day the New York Stock Exchange (the “NYSE”)\nis open for trading as of the close of regular trading on the NYSE, normally 4:00 p.m. Eastern time (the “NAV Calculation Time”).\n

Equity\nsecurities are valued primarily on the basis of market quotations reported on stock exchanges and other securities markets around the\nworld. If an equity security is listed on a national securities exchange, the security is valued at the closing price or, if the closing\nprice is not readily available, the mean of the closing bid and asked prices.

Investments\nin other open-end investment companies, including money market funds, are valued at the investment company’s net asset value per\nshare, with the exception of exchange-traded open-end investment companies, which are priced as equity securities described above.

Units\nof Mount Vernon Liquid Assets Portfolio, LLC are not traded on an exchange and are valued at the investment company’s NAV per share\nas provided by its administrator.

Deposit\naccounts are valued at acquisition cost, which approximates fair value. Market quotations and indicative bids are obtained from outside\npricing services.

The\nFunds’ Board of Trustees (the “Board”) has designated the Adviser to serve as the valuation designee, pursuant to Rule 2a-5\nunder the 1940 Act, to perform the fair value determinations relating to any or all Fund investments. Accordingly, if a market quotation\nis not readily available or otherwise becomes unreliable, the Adviser will determine

\n \n \n \n \n \n \n

TABLE OF CONTENTS

ABACUS\nFCF ETF TRUST

NOTES\nTO FINANCIAL STATEMENTS

July\n31, 2026(Continued)

in\ngood faith the price of the security held by the Funds based on a determination of the security’s fair value pursuant to policies\nand procedures approved by the Board. In addition, the Adviser may use fair valuation to price securities that trade on a foreign exchange\nwhen a significant event has occurred after the foreign exchange closes but before the time at which the Funds’ NAVs are calculated.\nSuch valuations would typically be categorized as Level 2 or Level 3 in the fair value hierarchy described below.

Foreign\nexchanges typically close before the time at which Fund share prices are calculated and may be closed altogether on some days when shares\nof the Funds are traded. Significant events affecting a foreign security may include, but are not limited to: corporate actions, earnings\nannouncements, litigation or other events impacting a single issuer; governmental action that affects securities in one sector or country;\nnatural disasters or armed conflicts affecting a country or region; or significant domestic or foreign market fluctuations.

Fair\nvaluations and valuations of investments that are not actively trading involve judgment and may differ materially from valuations that\nwould have been used had greater market activity occurred.

Fair\nValuation Measurement: The FASB established a framework for measuring fair value in accordance with GAAP. Under FASB ASC Topic 820, Fair\nValue Measurement, various inputs are used in determining the value of each Fund’s investments. The inputs or methodology used for\nvaluing securities are not necessarily an indication of the risk associated with investing in those securities. The three Levels of inputs\nof the fair value hierarchy are defined as follows:

\n \n \n \n

Level 1 –

Unadjusted quoted prices in active markets for\n identical assets or liabilities.

\n \n \n \n

Level 2 –

Observable inputs other than quoted prices\n included in Level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted\n prices for the identical instrument on an inactive market, prices for similar securities, interest rates, prepayment speeds, credit risk,\n yield curves, default rates and similar data.

\n \n \n \n

Level 3 –

Unobservable inputs for the asset or liability,\n to the extent relevant observable inputs are not available; representing the Fund’s own assumptions about the assumptions a market\n participant would use in valuing the asset or liability and would be based on the best information available.

A\nfinancial instrument’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the\nfair value measurement.

The\navailability of observable inputs can vary from security to security and is affected by a wide variety of factors, including, for example,\nthe type of security, whether the security is new and not yet established in the marketplace, the liquidity of markets, and other characteristics\nparticular to the security. To the extent that valuation is based on models or inputs that are less observable or unobservable in the\nmarket, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised in determining fair value\nis greatest for instruments categorized in Level 3.

The\nfollowing is a summary of the inputs used to value the Funds’ investments as of July 31, 2026:

ABOT\n

Level 1

Level 2

Level 3

Total\n

Investments:

Common\n Stocks

$4,039,913

$—

$4,039,913\n

Investments\n Purchased with Proceeds from Securities Lending^(a)

—

140,942\n

Total\n Investments

$4,039,913

$—

$4,180,855

\n \n \n \n \n \n \n

TABLE OF CONTENTS

ABACUS\nFCF ETF TRUST

NOTES\nTO FINANCIAL STATEMENTS

July\n31, 2026(Continued)

ABLG\n

Level 1

Level 2

Level 3

Total\n

Investments:

Common\n Stocks

$15,236,721

$279,215

$0^(b)

$15,515,936\n

Warrants

—

0\n

Investments\n Purchased with Proceeds from Securities Lending^(a)

—

2,051,421\n

Total\n Investments

$15,236,721

$279,215

$17,567,357

ABFL\n

Level 1

Level 2

Level 3

Total\n

Investments:

Common\n Stocks

$511,502,092

$—

$511,502,092\n

Master\n Limited Partnerships

13,166,425

—

13,166,425\n

Investments\n Purchased with Proceeds from Securities Lending^(a)

—

3,809,267\n

Total\n Investments

$524,668,517

$—

$528,477,784

ABLD\n

Level 1

Level 2

Level 3

Total\n

Investments:

Common\n Stocks

$69,996,304

$—

$69,996,304\n

Master\n Limited Partnerships

14,829,561

—

14,829,561\n

Real\n Estate Investment Trusts

7,378,166

—

7,378,166\n

Investments\n Purchased with Proceeds from Securities Lending^(a)

—

10,412,186\n

Total\n Investments

$92,204,031

$—

$102,616,217

ABLS\n

Level 1

Level 2

Level 3

Total\n

Investments:

Common\n Stocks

$452,650

$—

$452,650\n

Investments\n Purchased with Proceeds from Securities Lending^(a)

—

4,152\n

Total\n Investments

$452,650

$—

$456,802

ABXB\n

Level 1

Level 2

Level 3

Total\n

Investments:

Exchange\n Traded Funds

$1,893,404

$—

$1,893,404\n

Investments\n Purchased with Proceeds from Securities Lending^(a)

—

370,725\n

Total\n Investments

$1,893,404

$—

$2,264,129

Refer\nto the Schedules of Investments for further disaggregation of investment categories.

\n \n \n \n

(a)

Certain investments\n that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized\n in the fair value hierarchy. The fair value amounts presented in the tables are intended to permit reconciliation of the fair value hierarchy\n to the amounts listed in the Schedules of Investments.

\n \n \n \n \n \n \n

TABLE OF CONTENTS

ABACUS\nFCF ETF TRUST

NOTES\nTO FINANCIAL STATEMENTS

July\n31, 2026(Continued)

\n \n \n \n

(b)

Russia’s\n invasion of Ukraine has led to unprecedented market and policy responses of governments and regulators around the world. There is no functioning\n or orderly market to facilitate the liquidation of any security impacted by Russia-related sanctions. As a result, the fair value of the\n Russia-related sanctioned security held by the Fund has been reduced to zero.

Management\nhas determined that the amount of Level 3 securities compared to total net assets is not material for ABLG; therefore, the rollforward\nof Level 3 securities is not shown for the year ended July 31, 2026.

Accounting\nPronouncements: In June 2022, the FASB issued Accounting Standards Update 2022-03, which amends\nFair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions (“ASU 2022-03”).\nASU 2022-03 clarifies guidance for fair value measurement of an equity security subject to a contractual sale restriction and establishes\nnew disclosure requirements for such equity securities. ASU 2022-03 is currently effective for the Funds. Management has determined that\nthere were no significant impacts of these amendments on the Funds’ financial statements.

In\nDecember 2023, the FASB issued ASU 2023-09 Income Taxes (Topic 740): Improvements to Income Tax Disclosures. Effective for annual\nperiods beginning after December 15, 2024, the amendments require greater disaggregation of disclosures related to income taxes paid.\nThe Funds have adopted ASU 2023-09 as of July 31, 2026, with no material impact on the Funds’ financial statements.

Segment\nReporting: Each Fund operates as a single segment entity. Each Fund’s income, expenses, assets,\nand performance are regularly monitored and assessed by the Chief Operating Officer/Chief Compliance Officer of the Adviser, who serves\nas the chief operating decision maker, using the information presented in the financial statements and financial highlights.

4.\nOTHER RELATED PARTY TRANSACTIONS

Pursuant\nto an Investment Advisory Agreement (“Investment Advisory Agreement”) between the Trust, on behalf of the Funds, and the Adviser,\nthe Adviser provides investment advice to the Funds and oversees the day-to-day operations of the Funds, subject to the direction and\ncontrol of the Board and the officers of the Trust. The Adviser administers the Funds’ business affairs, provides office facilities\nand equipment and certain clerical, bookkeeping and administrative services. The Adviser bears the costs of all advisory and non-advisory\nservices required to operate the Funds, including payment of Trustee compensation, in exchange for a single unitary management fee. For\nservices provided to the Funds, ABLG and ABFL pay the Adviser 0.54% and 0.49%, respectively, of their average daily net assets. ABOT,\nABLD, ABLS and ABXB each pay the Adviser 0.59% at an annual rate based on each Fund’s average daily net assets. The Adviser has\ncontractually agreed to waive a portion of the management fee for ABOT, ABLD, ABLS and ABXB equal to 0.20% of each Fund’s average\ndaily net assets through at least November 28, 2026. There are no expense recapture provisions in the fee waiver agreements.

Certain\nofficers and a Trustee of the Trust are affiliated with the Adviser and are not paid any fees by the Funds for serving in such capacities.\n

5.\nSERVICE AND CUSTODY AGREEMENTS

The\nFunds have entered into Service Agreements with U.S. Bancorp Fund Services, LLC (“Fund Services” or “Administrator”),\ndoing business as U.S. Bank Global Fund Services, and a Custody Agreement with U.S. Bank, N.A. (“USB”), an affiliate of Fund\nServices. Under these agreements, Fund Services and USB provide certain transfer agency, administrative, accounting and custody services\nand are paid by the Adviser under the unitary fee arrangement noted above.

Quasar\nDistributors, LLC (“Quasar”) acts as the Funds’ principal underwriter in a continuous public offering of the Funds’\nshares. Quasar is a wholly-owned subsidiary of Foreside Financial Group, LLC (“Foreside”), doing business as ACA Group.

The\nTrust has adopted a distribution and service plan (“Rule 12b-1 Plan”) pursuant to Rule 12b-1 under the 1940 Act.\nUnder the Rule 12b-1 Plan, each Fund is authorized to pay distribution fees in connection with the sale and distribution of its shares\nand pay service fees in connection with the provision of ongoing services to shareholders. To date, the Rule 12b-1 Plan has not been\nimplemented for the Funds and there is no current intention to implement the Rule 12b-1 Plan.

\n \n \n \n \n \n \n

TABLE OF CONTENTS

ABACUS\nFCF ETF TRUST

NOTES\nTO FINANCIAL STATEMENTS

July\n31, 2026(Continued)

6.\nINVESTMENT TRANSACTIONS

For\nthe year ended July 31, 2026, the aggregate purchases and sales of securities by each Fund, excluding short-term securities and in-kind\ntransactions, were as follows:

\n	\n	\n	\n	\n	\n	\n
\n Fund	\n	\n	\n Purchases	\n	\n	\n Sales\n
\n ABOT	\n	\n	\n $3,675,500	\n	\n	\n $3,675,562\n
\n ABLG	\n	\n	\n $24,385,860	\n	\n	\n $25,293,156\n
\n ABFL	\n	\n	\n $690,541,695	\n	\n	\n $685,376,778\n
\n ABLD	\n	\n	\n $94,135,976	\n	\n	\n $94,488,252\n
\n ABLS	\n	\n	\n $1,158,709	\n	\n	\n $1,335,451\n
\n ABXB	\n	\n	\n $5,346,187	\n	\n	\n $5,347,779
\n	\n	\n	\n	\n	\n	\n

For\nthe year ended July 31, 2026, in-kind transactions associated with creations and redemptions were as follows:

\n	\n	\n	\n	\n	\n	\n
\n Fund	\n	\n	\n In-Kind \n Purchases	\n	\n	\n In-Kind \n Sales\n
\n ABOT	\n	\n	\n $—	\n	\n	\n $2,975,896\n
\n ABLG	\n	\n	\n $—	\n	\n	\n $17,335,528\n
\n ABFL	\n	\n	\n $209,214,608	\n	\n	\n $485,403,912\n
\n ABLD	\n	\n	\n $70,398,258	\n	\n	\n $37,075,708\n
\n ABLS	\n	\n	\n $194,687	\n	\n	\n $853,336\n
\n ABXB	\n	\n	\n $483,062	\n	\n	\n $974,782
\n	\n	\n	\n	\n	\n	\n

For\nthe year ended July 31, 2026, there were no long-term purchases or sales of U.S. Government Securities for the Funds.

During\nthe fiscal year ended July 31, 2026, the Funds realized the following net capital gains or losses resulting from in-kind redemptions in\nwhich shareholders exchanged Fund shares for securities held by the Funds rather than for cash. Because such gains or losses are not taxable\nor deductible to the Funds, and are not distributed to shareholders, they have been reclassified from distributable earnings to paid-in\ncapital.

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

\n	\n	\n	\n
\n Fund	\n	\n	\n Gains\n from \n In-Kind\n Redemptions
\n ABOT	\n	\n	\n $367,063\n
\n ABLG	\n	\n	\n $1,548,091\n
\n ABFL	\n	\n	\n $80,411,086\n
\n ABLD	\n	\n	\n $3,779,526\n
\n ABLS	\n	\n	\n $213,943\n
\n ABXB	\n	\n	\n $12,730
\n	\n	\n	\n

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TABLE OF CONTENTS

ABACUS\nFCF ETF TRUST

NOTES\nTO FINANCIAL STATEMENTS

July\n31, 2026(Continued)

7.\nINCOME TAX INFORMATION

The\ncomponents of tax basis cost of investments and net unrealized appreciation for federal income tax purposes as of July 31, 2026,\nthe Funds’ most recent fiscal year end, were as follows:

ABOT

ABLG

ABFL

ABLD

ABLS

ABXB\n

Tax\n cost of investments

$4,374,042\n

$16,770,776

$459,222,375

$101,676,013

$415,358

$2,279,992\n

Gross\n tax unrealized appreciation

589,470

2,281,797

87,200,802

6,332,984

65,401

9,868\n

Gross\n tax unrealized depreciation

(782,657)

(1,485,216)

(17,945,393)

(5,392,780)

(23,957)

(25,731)\n

Net\n tax unrealized appreciation (depreciation)

(193,187)

796,581

69,255,409

940,204

41,444

(15,863)\n

Undistributed\n ordinary income

1,743

—

179,728

200,948

—

8,388\n

Undistributed\n long-term capital gains

—

6,063

—\n

Distributable\n earnings

1,743

—

179,728

200,948

6,063

8,388\n

Other\n accumulated gain (loss)

(10,402,829)

(14,614,616)

(39,305,727)

(2,714,987)

(112,774)

(7,479,430)\n

Total\n distributable earnings (accumulated deficit)

$(10,594,273)

$(13,818,035)

$30,129,410

$(1,573,835)

$(65,267)

$(7,486,905)

The\ndifference between book and tax-basis cost is attributable to the realization for tax purposes of unrealized gains on investments in publicly\ntraded partnerships and wash sales. Under tax law, certain capital and foreign currency losses realized after October 31 and within\nthe taxable year are deemed to arise on the first business day of each Fund’s next taxable year. The other accumulated losses presented\nin the table above for ABLG and ABLD differ from the capital loss carryforwards presented in the table below due to foreign currency unrealized\ngains in ABLG and ABLD, and accumulated outstanding passive activity losses from partnership interests in ABLD. At July 31, 2026, ABLS\ndeferred, on a tax basis, Post-October losses of $112,774.

At\nJuly 31, 2026, the Funds’ most recent fiscal year end, the Funds had the following capital loss carryforwards:

Fund

Short-Term

Long-Term

Total

Expires\n

ABOT

$7,049,959

$3,352,870

$10,402,829

Indefinite\n

ABLG

$6,997,778

$7,628,219

$14,625,997

Indefinite\n

ABFL

$32,630,940

$6,674,787

$39,305,727

Indefinite\n

ABLD

$1,695,276

$302,136

$\n 1,997,412

Indefinite\n

ABLS

$—

Indefinite\n

ABXB

$7,136,224

$343,206

$7,479,430\n

Indefinite

During\nthe tax year ended July 31, 2026, the Funds’ most recent fiscal year end, the following Funds utilized capital loss carryforwards:\n

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

\n	\n	\n	\n
\n Fund	\n	\n	\n Amount\n
\n ABOT	\n	\n	\n $595,655\n
\n ABFL\n	\n	\n	\n $530,807
\n ABLD	\n	\n	\n $592,780
\n	\n	\n	\n

\n \n \n \n \n \n \n

TABLE OF CONTENTS

ABACUS\nFCF ETF TRUST

NOTES\nTO FINANCIAL STATEMENTS

July\n31, 2026(Continued)

The\ntax character of distributions paid by the Funds during the fiscal year ended July 31, 2026 and the fiscal year ended July 31,\n2025 were as follows:

Ordinary\n Income

Capital\n Gains

Return\n of Capital

Totals\n

Fund

Year\n Ended

July 31,\n 2026

Year\n Ended

July 31,\n 2025

Year\n Ended

July 31,\n 2026

Year\n Ended

July 31,\n 2025

Year\n Ended

July 31,\n 2026

Year\n Ended

July\n 31,2025

Year\n Ended

July\n 31, 2026

Year\n Ended

July\n 31, 2025

ABOT

$17,828

$118,109

$—

$ —

$17,828

$118,109\n

ABLG

$514,349

$1,541,886

$—

$12,378

$—

$526,727

$1,541,886\n

ABFL

$4,012,442

$4,807,346

$—

$4,012,442

$4,807,346\n

ABLD

$2,026,811

$1,719,115

$—

$2,026,811

$1,719,115\n

ABLS

$26,383

$2,872

$119,427

$133

$—

$145,810

$3,005\n

ABXB

$98,054

$935,651

$—

$98,054

$935,651

8.\nSECURITIES LENDING

Following\nterms of a securities lending agreement with USB, each Fund may lend securities from its portfolio to brokers, dealers and financial institutions\nin order to increase the return on its portfolio, primarily through the receipt of borrowing fees and earnings on invested collateral.\nAny such loan must be continuously secured by collateral in cash or cash equivalents maintained on a current basis in an amount at least\nequal to 105% of the value of the loaned securities that are foreign securities or 102% of the value of any U.S. loaned securities. Loans\nshall be marked to market daily. If the market value of the collateral at the close of trading on a business day is less than the margin\npercentage of the market value of the loaned securities at the close of trading that day, reasonable efforts will be made to seek an additional\namount of collateral the following business day. During the time securities are on loan, the borrower will pay the Funds any accrued income\non those securities, and the Funds may invest the cash collateral and earn income or receive an agreed-upon fee from a borrower that has\ndelivered cash-equivalent collateral. In determining whether or not to lend a security to a particular broker, dealer or financial institution,\nthe Adviser considers all relevant facts and circumstances, including the size, creditworthiness and reputation of the broker-dealer or\nfinancial institution. Securities lending involves the risk of a default or insolvency of the borrower. In either of these cases, a Fund\ncould experience delays in recovering securities or collateral or could lose all or part of the value of the loaned securities. A Fund\nalso could lose money in the event of a decline in the value of the collateral provided for loaned securities. Additionally, the loaned\nportfolio securities may not be available to the Fund on a timely basis and the Fund may therefore lose the opportunity to sell the securities\nat a desirable price. Any decline in the value of a security that occurs while the security is out on loan would continue to be borne\nby the Funds.

Each\nFund receives cash as collateral in return for securities lent, if any, as part of the securities lending program. The collateral is invested\nin the Mount Vernon Liquid Assets Portfolio, LLC of which the investment objective is to seek to maximize current income to the extent\nconsistent with the preservation of capital and liquidity and maintain a stable NAV of $1.00 per unit. As of July 31, 2026, the Funds\nheld the following amounts in the Mount Vernon Liquid Assets Portfolio, LLC:

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

\n	\n	\n	\n
\n Fund	\n	\n	\n Amount\n Held at \n July 31,\n 2026
\n ABOT	\n	\n	\n $140,942\n
\n ABLG	\n	\n	\n $2,051,421\n
\n ABFL	\n	\n	\n $3,809,267\n
\n ABLD	\n	\n	\n $10,412,186\n
\n ABLS	\n	\n	\n $4,152\n
\n ABXB	\n	\n	\n $370,725
\n	\n	\n	\n

The\nremaining contractual maturity of all securities lending transactions is overnight and continuous. The Funds are not subject to a master\nnetting agreement with respect to securities lending; therefore no additional disclosures are required. The income earned by the Funds\non investments of cash collateral received from borrowers for the securities loaned to them are reflected in the Funds’ Statements\nof Operations. Securities lending income, as disclosed in the

\n \n \n \n \n \n \n

TABLE OF CONTENTS

ABACUS\nFCF ETF TRUST

NOTES\nTO FINANCIAL STATEMENTS

July\n31, 2026(Continued)

Funds’\nStatements of Operations, represents the income earned from the investment of cash collateral, net of fee rebates paid to the borrower\nand net of fees paid to the Custodian as lending agent.

9.\nCERTAIN RISKS

Concentrations\nof Credit Risk. The Funds maintain cash and securities in custody accounts with a high-credit quality\nfinancial institution. Cash balances are held in a money market deposit account and may, at times, exceed the limits insured by the Federal\nDeposit Insurance Corporation (“FDIC”). To the extent cash balances exceed applicable FDIC insurance coverage, the Funds are\nexposed to credit risk associated with the financial institution holding such deposits.

Concentration\nRisk. A fund concentrated in an industry or group of industries is likely to present more risks than\na fund that is broadly diversified over several industries or groups of industries. Compared to the broad market, an individual industry\nor group of related industries may be more strongly affected by changes in the economic climate, broad market shifts, moves in a particular\ndominant stock or regulatory changes.

Depositary\nReceipts Risk. The risks of investments in depositary receipts are substantially similar to a direct\ninvestment in a foreign security. Returns on investments in foreign securities could be more volatile than, or trail the returns on, investments\nin U.S. securities. Exposures to foreign securities entail special risks, including due to: differences in information available about\nforeign issuers; differences in investor protection standards in other jurisdictions; capital controls risks, including the risk of a\nforeign jurisdiction imposing restrictions on the ability to repatriate or transfer currency or other assets; political, diplomatic and\neconomic risks; regulatory risks; and foreign market and trading risks, including the costs of trading and risks of settlement in foreign\njurisdictions. In addition, depositary receipts may not track the price of the underlying foreign securities, and their value may change\nmaterially at times when the U.S. markets are not open for trading.

Emerging\nMarkets Risk. Investments in emerging markets are generally subject to greater market volatility, political,\nsocial and economic instability, uncertain trading markets and more governmental limitations than investments in more developed markets.\nCompanies in emerging markets may be subject to less stringent regulatory, accounting, auditing, and financial reporting and recordkeeping\nstandards than companies in more developed countries, which could impede the Adviser’s ability to evaluate such companies or impact\nABLG’s performance. Securities laws and the enforcement of systems of taxation in many emerging market countries may change quickly\nand unpredictably, and the ability to bring and enforce actions may be limited or otherwise impaired. In addition, investments in emerging\nmarkets may experience lower trading volume, greater price fluctuations, delayed settlement, unexpected market closures and lack of timely\ninformation, and may be subject to additional transaction costs.

Equity\nInvesting Risk. An investment in ABFL, ABLG, ABOT, ABLD or ABLS involves risks similar to those of investing\nin any fund holding equity securities, such as market fluctuations, changes in interest rates and perceived trends in stock prices. The\nvalues of equity securities could decline generally or could underperform other investments. In addition, securities may decline in value\ndue to factors affecting a specific issuer, market or securities markets generally.

Foreign\nInvestment Risk. Returns on investments in foreign securities could be more volatile than, or trail\nthe returns on, investments in U.S. securities. Exposures to foreign securities entail special risks, including due to: differences in\ninformation available about foreign issuers; differences in investor protection standards in other jurisdictions; capital controls risks,\nincluding the risk of a foreign jurisdiction imposing restrictions on the ability to repatriate or transfer currency or other assets;\npolitical, diplomatic and economic risks; regulatory risks; and foreign market and trading risks, including the costs of trading and risks\nof settlement in foreign jurisdictions. In addition, the Fund’s investments in securities denominated in other currencies could\ndecline due to changes in local currency relative to the value of the U.S. dollar, which may affect the Fund’s returns. Non-U.S.\nissuers also may not be subject to uniform accounting, auditing and financial reporting standards and there may be less reliable and publicly\navailable financial and other information about such issuers, as compared to U.S. issuers.

Geographic\nRegion Risk. To the extent that the Funds invest a significant portion of their assets in a specific\ngeographic region or a particular country, the Funds will generally have more exposure to that region or country’s economic risks.\nIn the event of economic or political turmoil or a deterioration of diplomatic relations in a region or

\n \n \n \n \n \n \n

TABLE OF CONTENTS

ABACUS\nFCF ETF TRUST

NOTES\nTO FINANCIAL STATEMENTS

July\n31, 2026(Continued)

country\nwhere a significant portion of the Funds’ assets are invested, the Funds may experience substantial illiquidity or reduction in\nthe value of the Funds’ investments. Adverse conditions in a certain region or country can also adversely affect securities of issuers\nin other countries whose economies appear to be unrelated.

High\nYield (Junk Bond) Securities Risk. High yield securities and unrated securities of similar credit quality\nare considered to be speculative with respect to the issuer’s continuing ability to make principal and interest payments and are\ngenerally subject to greater levels of credit quality risk than investment grade securities. High yield securities are usually issued\nby companies, including smaller and medium capitalization companies, without long track records of sales and earnings, or with questionable\ncredit strength. These companies may be particularly affected by interest rate increases, as they may find it more difficult to borrow\nmoney to continue or expand operations, or may have difficulty in repaying floating rate loans. These fixed-income securities are considered\nbelow “investment-grade.” The retail secondary market for these “junk bonds” may be less liquid than that of higher-rated\nfixed income securities, and adverse conditions could make it difficult at times to sell these securities or could result in lower prices\nthan higher-rated fixed income securities. A lack of publicly available information, irregular trading activity and/or wide bid/ask spreads,\namong other factors, may, in certain circumstances, make high-yield securities more difficult to sell at an advantageous time or price\nthan other types of securities. These factors may result in an Underlying ETF being unable to realize full value for these securities\nand/or may result in a Fund not receiving the proceeds from a sale of a high-yield security for an extended period after such sale, each\nof which could result in losses to an Underlying ETF. These risks can reduce the value of the shares of an Underlying ETF and the income\nit earns.

MLP\nRisk. An MLP is a publicly traded partnership primarily engaged in the transportation, storage, processing,\nrefining, marketing, exploration, production, and mining of minerals and natural resources. MLP common units, like other equity securities,\ncan be affected by macroeconomic and other factors affecting the stock market in general, expectations of interest rates, investor sentiment\ntowards an issuer or certain market sector, changes in a particular issuer’s financial condition, or unfavorable or unanticipated\npoor performance of a particular issuer (in the case of MLPs, generally measured in terms of distributable cash flow). Prices of common\nunits of individual MLPs, like the prices of other equity securities, also can be affected by fundamentals unique to the partnership or\ncompany, including earnings power and coverage ratios.

MLP\nTax Risk. MLPs taxed as partnerships, subject to the application of certain partnership audit rules,\ngenerally do not pay U.S. federal income tax at the partnership level. Rather, each partner is allocated a share of the MLP’s income,\ngains, losses, deductions and expenses. A change in current tax law, or a change in the underlying business mix of a given MLP, could\nresult in an MLP being treated as a corporation for U.S. federal income tax purposes, which would result in such MLP being required to\npay U.S. federal income tax on its taxable income. The classification of an MLP as a corporation for U.S. federal income tax purposes\nwould have the effect of reducing the amount of cash available for distribution by the MLP. Thus, if any of the MLPs owned by ABLD were\ntreated as corporations for U.S. federal income tax purposes, it could result in a reduction in the value of your investment in ABLD and\nlower income.

Real\nAssets Industry Group Risk. The risks of investing in the Real Assets Industry Group include the risks\nof focusing investments in the real estate, infrastructure, commodities and natural resources related sectors, and adverse developments\nin these sectors may significantly affect the value of the Shares. Accordingly, ABLD is more susceptible to adverse developments affecting\none or more of these sectors than a fund that invests more broadly, and the Fund may perform poorly during a downturn affecting issuers\nin those sectors. Companies involved in activities related to the Real Assets Industry Group can be adversely affected by, among other\nthings, government regulation or deregulation, global political and economic developments, energy and commodity prices, the overall supply\nand demand for oil and gas, changes in tax zoning laws, environmental issues, and low inflation.

Real\nEstate Investment Trust (“REIT”) Risk. A REIT is a company that pools investor funds to\ninvest primarily in income producing real estate or real estate related loans or interests. ABLD may be subject to certain risks associated\nwith direct investments in REITs. REITs may be affected by changes in their underlying properties and by defaults by borrowers or tenants.\nMortgage REITs may be affected by the quality of the credit extended. Furthermore, REITs are dependent on specialized management skills.\nSome REITs may have limited diversification and may be subject to risks inherent in financing a limited number of properties. REITs depend\ngenerally on their ability to generate cash flow to make distributions to shareholders or unitholders and may be subject to defaults by\nborrowers and to self-liquidations.

\n \n \n \n \n \n \n

TABLE OF CONTENTS

ABACUS\nFCF ETF TRUST

NOTES\nTO FINANCIAL STATEMENTS

July\n31, 2026(Continued)

Sector\nFocus Risk. To the extent that a Fund’s investments are focused on a particular sector, the Fund\nis subject to loss due to adverse occurrences that may affect that industry or group of industries or sector. Focusing on a particular\nsector could increase a Fund’s volatility over the short term.

Small\nCapitalization Company Risk. Investing in securities of small capitalization companies involves greater\nrisk than customarily is associated with investing in larger, more established companies. These companies’ securities may be more\nvolatile and less liquid than those of more established companies. Often, small capitalization companies and the industries in which they\nfocus are still evolving and, as a result, they may be more sensitive to changing market conditions. Small capitalization companies may\nbe particularly affected by interest rate increases, as they may find it more difficult to borrow money to continue or expand operations\nor may have difficulty in repaying any loans which are floating rate.

Underlying\nETFs Risk. In seeking to track its Underlying Index, ABXB invests a portion of its assets in Underlying\nETFs. In those situations, the Fund’s investment performance is directly related to the performance of the Underlying ETFs. The\nFund’s net asset value (or “NAV”) will change with changes in the value of the Underlying ETFs based on their market\nvaluations. An investment in the Fund will entail more costs and expenses than a direct investment in the Underlying ETFs. As the Underlying\nETFs, or the Fund’s allocations among the Underlying ETFs, change from time to time, or to the extent that the total annual fund\noperating expenses of any Underlying ETF changes, the weighted average operating expenses borne by the Fund may increase or decrease.\n

U.S.\nGovernment Securities Risk. This is the risk that the U.S. government will not provide financial support\nto its agencies, instrumentalities or sponsored enterprises if it is not obligated to do so by law. Certain U.S. government securities\npurchased by the Fund are neither issued nor guaranteed by the U.S. Treasury and, therefore, may not be backed by the full faith and credit\nof the United States. The maximum potential liability of the issuers of some U.S. government securities may greatly exceed their current\nresources, including any legal right to support from the U.S. Treasury. It is possible that the issuers of such securities will not have\nthe funds to meet their payment obligations in the future.

\n \n \n \n \n \n \n

TABLE OF CONTENTS

Abacus\nFCF ETF Trust

REPORT\nOF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To\nthe Shareholders of Abacus FCF Innovation Leaders ETF, Abacus FCF International Leaders ETF, Abacus FCF Leaders ETF, Abacus FCF Real Assets\nLeaders ETF, Abacus FCF Small Cap Leaders ETF, and Abacus Flexible Bond Leaders ETF and Board of Trustees of Abacus FCF ETF Trust

Opinion\non the Financial Statements

We\nhave audited the accompanying statements of assets and liabilities, including the schedules of investments, of Abacus FCF Innovation Leaders\nETF, Abacus FCF International Leaders ETF, Abacus FCF Leaders ETF, Abacus FCF Real Assets Leaders ETF, Abacus FCF Small Cap Leaders ETF,\nand Abacus Flexible Bond Leaders ETF (the “Funds”), each a series of Abacus FCF ETF Trust, as of July 31, 2026, the related\nstatements of operations, changes in net assets, and the financial highlights for each of the periods indicated below, and the related\nnotes (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in\nall material respects, the financial position of each of the Funds as of July 31, 2026, the results of their operations, the changes\nin net assets, and the financial highlights for each of the periods indicated below in conformity with accounting principles generally\naccepted in the United States of America.

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

\n	\n	\n	\n	\n	\n	\n	\n	\n	\n
\n Fund\n Name	\n	\n	\n Statements\n of \n Operations	\n	\n	\n Statements\n of \n Changes\n in Net Assets	\n	\n	\n Financial\n Highlights
\n Abacus\n FCF Innovation Leaders ETF, Abacus FCF International Leaders ETF, Abacus FCF Leaders ETF, Abacus FCF Real Assets Leaders ETF, and Abacus\n Flexible Bond Leaders ETF	\n	\n	\n For\n the year ended \n July 31,\n 2026	\n	\n	\n For\n the years ended \n July 31,\n 2026, and \n 2025	\n	\n	\n For\n the years ended \n July 31,\n 2026, 2025, \n 2024,\n and 2023
\n Abacus\n FCF Small Cap Leaders ETF	\n	\n	\n For\n the year ended \n July 31,\n 2026	\n	\n	\n For\n the year ended July 31, 2026, and for the \n period\n from February 18, 2025 (commencement \n of\n operations) through July 31, 2025
\n	\n	\n	\n	\n	\n	\n

The\nFunds’ financial highlights for the year ended July 31, 2022 were audited by other auditors whose report dated September 29,\n2022, expressed an unqualified opinion on those financial highlights.

Basis\nfor Opinion

These\nfinancial statements are the responsibility of the Funds’ management. Our responsibility is to express an opinion on the Funds’\nfinancial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board\n(United States) (“PCAOB”) and are required to be independent with respect to the Funds in accordance with the U.S. federal\nsecurities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We\nconducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain\nreasonable assurance about whether the financial statements are free of material misstatement whether due to error or fraud.

Our\naudits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or\nfraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding\nthe amounts and disclosures in the financial statements. Our procedures included confirmation of securities owned as of July 31,\n2026, by correspondence with the custodian. Our audits also included evaluating the accounting principles used and significant estimates\nmade by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable\nbasis for our opinion.

We\nhave served as the Funds’ auditor since 2023.

$\"\"$

COHEN\n& COMPANY, LTD.

Cleveland,\nOhio

September\n29, 2026

\n \n \n \n \n \n \n

TABLE OF CONTENTS

Abacus\nFCF ETF Trust

Additional\nInformation (Unaudited)

The\nbelow information is required disclosure from Form N-CSR

Item 8.\nChanges in and Disagreements with Accountants for Open-End Investment Companies.

There\nwere no changes in or disagreements with accountants during the period covered by this report.

Item 9.\nProxy Disclosure for Open-End Investment Companies.

There\nwere no matters submitted to a vote of shareholders during the period covered by this report.

Item 10.\nRemuneration Paid to Directors, Officers, and Others of Open-End Investment Companies.

The\nAdviser has agreed to pay all operating expenses of the Funds pursuant to the terms of the Investment Advisory Agreement, subject to certain\nexclusions provided therein. As a result, the Adviser is responsible for compensating the Independent Trustees. Further information related\nto Trustee and Officer compensation for the Trust can be obtained from the Funds’ most recent Statement of Additional Information.\n

Item 11.\nStatement Regarding Basis for Approval of Investment Advisory Contract.

March 26,\n2026, Consideration of the Renewal of the Investment Advisory Agreement for Abacus FCF Leaders ETF, Abacus FCF International Leaders ETF,\nAbacus Flexible Bond Leaders ETF, Abacus FCF Innovation Leaders ETF, Abacus FCF Small Cap Leaders ETF, and Abacus FCF Real Assets Leaders\nETF

At\na meeting held on March 26, 2026 (the “March 2026 Meeting”), the Board of Trustees (the “Board”) of\nAbacus FCF ETF Trust (the “Trust”), including the Trustees of the Trust who were not “interested persons,” as\nthat term is defined in the Investment Company Act of 1940 (the “Independent Trustees”), reviewed and unanimously approved\nthe renewal of the investment advisory agreement (the “Advisory Agreement”) between Abacus FCF Advisors LLC (“Abacus\nFCF”) and the Trust, on behalf of Abacus FCF Leaders ETF (“ABFL”), Abacus FCF International Leaders ETF (“ABLG”),\nAbacus Flexible Bond Leaders ETF (“ABXB”), Abacus FCF Innovation Leaders ETF (“ABOT”), Abacus FCF Small Cap Leaders\nETF (“ABLS”) and Abacus FCF Real Assets Leaders ETF (“ABLD” and, collectively with ABFL, ABLG, ABXB, ABOT and\nABLS, the “Renewal Funds” and, each, a “Renewal Fund”).

In\nevaluating the Advisory Agreement, the Board, including the Independent Trustees, reviewed the materials furnished by Abacus FCF. The\nBoard considered the following factors, among others, in connection with its renewal of the Advisory Agreement, as it pertained to each\nRenewal Fund: (1) the nature, extent, and quality of the services provided by Abacus FCF; (2) the investment performance of each\nRenewal Fund; (3) a comparison of fees and expenses of each Renewal Fund to its respective peer group (each, a “Peer Group”);\n(4) the profitability to Abacus FCF; (5) the extent to which economies of scale might be realized as each Renewal Fund grows; and\n(6) any ancillary benefits derived by Abacus FCF from its relationship with the Renewal Funds. The Board also considered the materials\nthat they had received at past meetings, including at routine quarterly meetings, relating to the nature, extent and quality of Abacus\nFCF’s services, including information concerning each Renewal Fund’s advisory fee, total expense ratio and performance.

In\naddition, prior to approving the Advisory Agreement, the Independent Trustees met in executive session with counsel to the Independent\nTrustees without representatives of Abacus FCF. The Independent Trustees reviewed with counsel to the Independent Trustees the legal standards\napplicable to their consideration of the Advisory Agreement for each Renewal Fund. The Independent Trustees relied upon the advice of\ncounsel and their own business judgment in determining the material factors to be considered in evaluating the Advisory Agreement and\nthe weight to be given to each such factor.

Nature,\nExtent and Quality of Services

With\nrespect to the nature, extent and quality of the services provided, the Board considered the portfolio management and other personnel\nof Abacus FCF, the compliance functions of Abacus FCF, and the financial condition of Abacus FCF. Further, the Board evaluated the integrity\nof Abacus FCF’s personnel, the stock selection models on which Abacus FCF relies in managing each Renewal Fund, and the management\nof each Renewal Fund’s investments in accordance with its stated investment objective and policies. The Board also considered that\nABOT, ABXB, ABLS and ABLD utilize index-based strategies pursuant to which Abacus FCF’s affiliate serves as index provider. The\nBoard

\n \n \n \n \n \n \n

TABLE OF CONTENTS

Abacus\nFCF ETF Trust

Additional\nInformation (Unaudited)(Continued)\n

further\nconsidered the demonstrated ability of the portfolio management teams for each Renewal Fund to continue to manage each Renewal Fund’s\ninvestments in accordance with each Renewal Fund’s stated investment objective.

Based\non its review and other considerations, the Board concluded, in the exercise of its reasonable business judgment, that the nature, extent\nand quality of the services supported renewal of the Advisory Agreement.

Performance\n

With\nrespect to the performance of each Renewal Fund, the Board considered each Renewal Fund’s one-year, three-year, five-year and since\ninception performance, as applicable. In this regard, among other things, the Board considered each Renewal Fund’s total return\ncompared to the total return of its benchmark index and Peer Group.

The\nBoard observed that ABFL had outperformed its Peer Group median and average total returns for the since inception period, underperformed\nits Peer Group median and average total returns for the one-year, three-year and five-year periods, and underperformed its benchmark for\nthe one-year, three-year, five-year and since inception periods.

The\nBoard observed that ABLG had underperformed its benchmark and Peer Group median and average total returns for the one-year, three-year,\nfive-year and since inception periods. The Board considered, however, that ABFL and ABLG have invested in accordance with their investment\nmandates to seek high-conviction exposure to companies with strong free cash flow return on invested capital and, therefore, have performed\nas expected.

The\nBoard observed that ABXB had outperformed its benchmark for each of the one-year, three-year, five-year and since inception periods, outperformed\nits Peer Group median total returns for the one-year and three-year periods and outperformed its Peer Group average total returns for\nthe one-year period, but underperformed its Peer Group median total returns for the five-year and since inception periods and its Peer\nGroup average total returns for the three-year, five-year and since inceptions periods. The Board considered that ABXB’s underlying\nindex implemented changes to its rules-based methodology on June 6, 2025, and how those changes may have impacted ABXB’s recent\nperformance.

The\nBoard observed that ABOT had underperformed its benchmark and Peer Group median and average total returns for the one-year, three-year,\nfive-year and since inception periods. The Board considered, however, that ABOT performed in accordance with its investment objective\nof tracking its underlying index.

The\nBoard observed that ABLD outperformed its Peer Group average total returns for the one-year, three-year and since inception periods, outperformed\nits benchmark and Peer Group median total returns for the three-year and since inception periods, and only underperformed its benchmark\nand Peer Group median total returns for the one-year period.

Finally,\nthe Board observed that ABLS had underperformed its benchmark and Peer Group median and average total returns for the since inception\nperiod. The Board noted that ABLS is a relatively new fund, has limited performance information and performed in accordance with its investment\nobjective of tracking its underlying index.

Based\non its review and other considerations, the Board concluded, in the exercise of its reasonable business judgment, that each Renewal Fund’s\ninvestment performance supported renewal of the Advisory Agreement.

Comparative\nFees and Expenses

The\nBoard considered the fee structure of the Advisory Agreement with respect to each Renewal Fund. The Board also reviewed information compiled\nby the Renewal Funds’ administrator comparing each Renewal Fund’s advisory fee and net expense ratio to the advisory fees\nand net expense ratios of each Renewal Fund’s respective Peer Group. The Board noted that ABFL’s, ABLG’s and ABLD’s\nmanagement fees and net expense ratios were above the median and average, but below the maximum, management fees and net expense ratios\nof their respective Peer Groups. The Board also considered that ABFL and ABLG were actively managed ETFs when considering their fees and\nexpenses. The Board also noted that ABOT's management fees were below the median and the same as the average management fees of its Peer\nGroup and its net expense ratios were below the median and average the net expense ratios of its Peer Group. The Board noted that ABXB’s\nnet expense ratio was below the median and average net expense ratios of its Peer Group, and that ABXB’s management fee was below\nthe median and slightly above the average management fees of its Peer Group. Lastly, the Board noted that ABLS’s management fee\nwas above the median and average, but below the maximum, management fees of its Peer Group, and that ABLS’s net expense ratio was\nbelow the average and above the

\n \n \n \n \n \n \n

TABLE OF CONTENTS

Abacus\nFCF ETF Trust

Additional\nInformation (Unaudited)(Continued)\n

median\nnet expense ratios of its Peer Group. Based on their review and other considerations, the Board concluded, in the exercise of its reasonable\nbusiness judgment, that each Renewal Fund’s fees and expenses supported renewal of the Advisory Agreement.

Costs\nand Profitability

The\nBoard also reviewed the compensation and benefits received by Abacus FCF from its relationships with the Renewal Funds. In this regard,\nthe Board took into consideration that the advisory fee for each Renewal Fund was structured as a “unified fee,” pursuant\nto which Abacus FCF would pay all of the Funds’ expenses, except for the fee payment under the Advisory Agreement, payments under\neach Fund’s Rule 12b-1 plan (if any), brokerage expenses, acquired fund fees and expenses, taxes, interest (including borrowing\ncosts and dividend expenses on securities sold short), litigation expenses and other extraordinary expenses (including litigation to which\nthe Trust or a Renewal Fund may be a party and indemnification of the Trustees and officers with respect thereto), and considered the\nbenefits that accrue to each Renewal Fund as a result of this fee structure. The Board noted that Abacus FCF is therefore contractually\nresponsible for compensating the Trust’s other service providers and paying each Renewal Fund’s other expenses out of its\nown fees and resources. The Board also considered that ABLS, ABOT, ABXB and ABLD currently experience benefits from the fee waiver agreements\nwith Abacus FCF, pursuant to which Abacus FCF has contractually agreed to waive a portion of each such Fund’s management fee.

Based\non their review and other considerations, the Board concluded, in the exercise of its reasonable business judgment, that the profitability\nanalysis supported renewal of the Advisory Agreement.

Economies\nof Scale

The\nBoard considered the information provided by Abacus FCF as to the extent to which economies of scale would be realized as a Renewal Fund\ngrows and whether anticipated fee levels reflect economies of scale for the benefit of shareholders. The Board noted that, because the\nadvisory fee for each Renewal Fund does not currently include breakpoints, any reduction in fixed costs associated with the management\nof a Renewal Fund would be enjoyed by Abacus FCF; however, the Board also noted that the unified fee structure provides a level of certainty\nin expenses for each Renewal Fund. Based on their review, the current asset levels of the Renewal Funds, and other considerations, the\nBoard concluded, in the exercise of its reasonable business judgment, that the possibility of realizing future economies of scale was\nnot a material factor in connection with the renewal of the Advisory Agreement at this time.

Ancillary\nBenefits

The\nBoard then considered the extent to which Abacus FCF might derive ancillary (or fall-out) benefits as a result of their relationships\nwith the Renewal Funds. For example, the Board noted that Abacus FCF may engage in soft dollar transactions in the future, although it\ndoes not currently plan to do so. The Board also noted that Abacus FCF may obtain a reputational benefit from the success of any Renewal\nFund. Based on its review and other considerations, the Board concluded, in the exercise of its reasonable business judgment, that ancillary\nbenefits were not a material factor in connection with the renewal of the Advisory Agreement.

Conclusion\n

Based\non their review of the facts and circumstances related to the Advisory Agreement, the Trustees concluded that each Renewal Fund and its\nshareholders could benefit from Abacus FCF’s continued management. Thus, the Board determined that the renewal of the Advisory Agreement\nwith respect to each Renewal Fund was appropriate and in the best interest of each Renewal Fund and its shareholders. In its deliberations,\nthe Board did not identify any particular information that was all-important or controlling, and each Trustee may have attributed different\nweights to different factors. Based on their review, including consideration of each of the factors referenced above, the Trustees determined,\nin the exercise of their reasonable business judgment, that the advisory arrangements for each Renewal Fund, as outlined in the Advisory\nAgreement, were fair and reasonable in light of the services performed, expenses incurred and such other matters as the Board considered\nrelevant.

After\nfull consideration of the above factors as well as other factors, the Board, including the Independent Trustees, unanimously approved\nthe continuance of the Advisory Agreement on behalf of each Renewal Fund.

\n \n \n \n \n \n \n

\n \n \n \n

(b)

Financial Highlights are included within the financial statements filed under Item 7 of this Form.

Item 8.\nChanges in and Disagreements with Accountants for Open-End Investment Companies.

There were no changes in or disagreements with accountants during the period\ncovered by this report.

Item 9.\nProxy Disclosure for Open-End Investment Companies.

There were no matters submitted to a vote of shareholders during the period covered by this report.

Item 10.\nRemuneration Paid to Directors, Officers, and Others of Open-End Investment Companies.

All fund expenses, including Trustee compensation, are paid by the Investment\nAdviser pursuant to the Investment Advisory Agreement. Additional information related to those fees is available in the Fund’s Statement\nof Additional Information.

Item 11.\nStatement Regarding Basis for Approval of Investment Advisory Contract.

See Item 7(a).

Item 12.\nDisclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.

Not applicable to open-end investment companies.

Item 13. Portfolio Managers\nof Closed-End Management Investment Companies.

Not applicable to open-end investment companies.

Item 14.\nPurchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.

Not applicable to open-end investment companies.

Item 15. Submission of Matters\nto a Vote of Security Holders.

There have been no material changes to the procedures by which shareholders\nmay recommend nominees to the registrant’s board of trustees.

Item 16. Controls and Procedures.

\n \n \n \n

(a)

The Registrant’s President/Principal Executive Officer and Principal Financial Officer have reviewed the Registrant’s\n disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940 (the “Act”)) as of\n a date within 90 days of the filing of this report, as required by Rule 30a-3(b) under the Act and Rules 13a-15(b) or 15d-15(b) under\n the Securities Exchange Act of 1934. Based on their review, such officers have concluded that the disclosure controls and procedures are\n effective in ensuring that information required to be disclosed in this report is appropriately recorded, processed, summarized and reported\n and made known to them by others within the Registrant and by the Registrant’s service provider.

\n \n \n \n

(b)

There were no changes in the Registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the Act)\n that occurred during the period covered by this report that have materially affected, or are reasonably likely to materially affect, the\n Registrant’s internal control over financial reporting.

Item 17. Disclosure of Securities\nLending Activities for Closed-End Management Investment Companies

Not applicable to open-end investment companies.

Item 18. Recovery of Erroneously\nAwarded Compensation.

(a) Not applicable.

(b) Not applicable.

Item 19. Exhibits.

\n \n \n \n

(a)

(1) Any code of ethics or amendment thereto, that is the subject of the disclosure required\n by Item 2, to the extent that the registrant intends to satisfy Item 2 requirements through filing an exhibit. Filed herewith.

(2) Any policy required by the listing standards adopted pursuant\nto Rule 10D-1 under the Exchange Act (17 CFR 240.10D-1) by the registered national securities exchange or registered national securities\nassociation upon which the registrant’s securities are listed.

Not applicable.

(3) A separate certification\nfor each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the Investment\nCompany Act of 1940 (17 CFR 270.30a-2(a)). Filed herewith.

(4) Any written solicitation to purchase securities under Rule\n23c-1 under the Act sent or given during the period covered by the report by or on behalf of the registrant to 10 or more persons.\nNot applicable to open-end investment companies.

\n \n \n \n

(5)

Change in the registrant’s independent public accountant. Provide the information called for by Item 4 of Form 8-K under the Exchange\n Act (17 CFR 249.308). Unless otherwise specified by Item 4, or related to and necessary for a complete understanding of information not\n previously disclosed, the information should relate to events occurring during the reporting period. Not applicable to open-end investment\n companies.

\n \n \n \n

(b)

Certifications pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. Furnished\n herewith.

SIGNATURES

Pursuant to the requirements of the Securities Exchange\nAct of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned,\nthereunto duly authorized.

\n \n \n \n \n \n

(Registrant)

Abacus\n FCF ETF Trust

\n \n \n \n \n \n \n \n \n \n \n

	By\n (Signature and Title)*	/s/ Jay\n Jackson
		Jay\n Jackson, President/Principal Executive Officer

\n \n \n \n \n \n

Date

10/01/26

Pursuant to the requirements of the Securities Exchange\nAct of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant\nand in the capacities and on the dates indicated.

\n \n \n \n \n \n \n \n \n \n \n

	By\n (Signature and Title)*	/s/ Jay\n Jackson
		Jay\n Jackson, President/Principal Executive Officer

\n \n \n \n \n \n

Date

10/01/26

\n \n \n \n \n \n \n \n \n \n \n

	By\n (Signature and Title)*	/s/ Cody\n Raulerson
		Cody\n Raulerson, Principal Financial Officer

\n \n \n \n \n \n

Date

10/01/26

* Print the name and title of each signing officer under his or her signature.

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