# EDGAR Filing Document

**Accession Number:** 0001742912
**File Stem:** 0002000324-26-001679
**Filing Date:** 2026-4
**Character Count:** 39044
**Document Hash:** 5327fd275f3e66d72ebf08419317fee9
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002000324-26-001679.hdr.sgml**: 20260427

**ACCESSION NUMBER**: 0002000324-26-001679

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260228

**FILED AS OF DATE**: 20260427

**DATE AS OF CHANGE**: 20260427

**PERIOD START**: 20261130

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Tidal Trust I
- **CENTRAL INDEX KEY:** 0001742912

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23377
- **FILM NUMBER:** 26899142

**BUSINESS ADDRESS:**
- **STREET 1:** 234 WEST FLORIDA STREET, SUITE 700
- **CITY:** MILWAUKEE,
- **STATE:** WI
- **BUSINESS PHONE:** 844-986-7676

**MAIL ADDRESS:**
- **STREET 1:** 234 WEST FLORIDA STREET, SUITE 700
- **CITY:** MILWAUKEE,
- **STATE:** WI

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Tidal ETF Trust
- **DATE OF NAME CHANGE:** 20180606

## Series and Classes Contracts Data

### Sound Enhanced Fixed Income ETF (Series ID: S000070510)

| Class ID   | Class Name                      | Ticker Symbol   |
|:---|:---|:---|
| C000224019 | Sound Enhanced Fixed Income ETF | FXED            |

## Nport-Ex

**Sound Enhanced Fixed Income ETF**

**Schedule of Investments**

**February 28, 2026 (Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**COMMON STOCKS - 12.8%** | | | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Financial Services - 1.7%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Blackstone Secured Lending Fund<sup>(a)</sup> |  |  | 14920 | $356290 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Runway Growth Finance Corp. |  |  | 47351 | 366970 |
|  |  |  |  | 723260 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Real Estate - 11.1%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Alpine Income Property Trust, Inc. - REIT |  |  | 24484 | 482824 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Digital Realty Trust, Inc. - REIT |  |  | 806 | 142823 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gaming and Leisure Properties, Inc. - REIT |  |  | 2939 | 143746 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;National Health Investors, Inc. - REIT |  |  | 3052 | 256582 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;National Storage Affiliates Trust - REIT<sup>(a)</sup> |  |  | 5821 | 203851 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NNN REIT, Inc. - REIT |  |  | 7133 | 323268 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Omega Healthcare Investors, Inc. - REIT |  |  | 12184 | 588122 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Realty Income Corp. - REIT |  |  | 8521 | 570907 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sabra Health Care REIT, Inc. - REIT<sup>(a)</sup> |  |  | 8321 | 170997 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Simon Property Group, Inc. - REIT |  |  | 5328 | 1086113 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;VICI Properties, Inc. - REIT |  |  | 19601 | 592146 |
|  |  |  |  | 4561379 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL COMMON STOCKS (Cost $4,869,940)** |  |  |  | 5284639 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**CORPORATE BONDS - 28.0%** | **Coupon** | **Maturity Date** | **Principal Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Auto Parts Manufacturing - 6.0%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;American Axle & Manufacturing, Inc. (Callable 01/24/2026) | 5.00% | 10/01/2029 | 825000 | 806578 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dana, Inc. (Callable 05/01/2026) | 4.25% | 09/01/2030 | 683000 | 656228 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Goodyear Tire & Rubber Co. (Callable 04/15/2029) | 5.00% | 07/15/2029 | 1044000 | 1024036 |
|  |  |  |  | 2486842 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Chemicals - 3.5%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Celanese US Holdings LLC (Callable 04/15/2032) | 6.63% | 07/15/2032 | 158000 | 166741 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chemours Co. (Callable 02/15/2027) | 5.38% | 05/15/2027 | 505000 | 510633 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Huntsman International LLC (Callable 02/01/2029) | 4.50% | 05/01/2029 | 518000 | 495923 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Huntsman International LLC (Callable 07/15/2034)<sup>(a)</sup> | 5.70% | 10/15/2034 | 285000 | 272779 |
|  |  |  |  | 1446076 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Consumer Finance - 1.8%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Radian Group, Inc. (Callable 09/15/2026) | 4.88% | 03/15/2027 | 746000 | 748067 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Exploration & Production - 4.1%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Apache Corp. (Callable 03/01/2040) | 5.10% | 09/01/2040 | 909000 | 822497 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Expand Energy Corp. (Callable 02/01/2027) | 4.75% | 02/01/2032 | 572000 | 571432 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Murphy Oil Corp. (Callable 10/01/2027)<sup>(a)</sup> | 6.00% | 10/01/2032 | 309000 | $309662 |
|  |  |  |  | 1703591 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Hardware - 1.9%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dell, Inc.<sup>(b)</sup> | 6.50% | 04/15/2038 | 712000 | 774679 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Industrial Other - 2.0%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;United Rentals North America, Inc. (Callable 01/24/2026) | 4.88% | 01/15/2028 | 835000 | 834994 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Pipeline - 2.2%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Targa Resources Partners LP / Targa Resources Partners Finance Corp. (Callable 02/13/2026) | 5.00% | 01/15/2028 | 909000 | 909536 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Refining & Marketing - 2.0%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;HF Sinclair Corp. (Callable 10/15/2034) | 6.25% | 01/15/2035 | 247000 | 260166 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PBF Holding Co LLC / PBF Finance Corp. (Callable 02/13/2026) | 6.00% | 02/15/2028 | 545000 | 543158 |
|  |  |  |  | 803324 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Travel & Lodging - 2.2%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hilton Domestic Operating Co., Inc. (Callable 01/24/2026) | 4.88% | 01/15/2030 | 902000 | 903173 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Utilities - 2.3%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;National Fuel Gas Co. (Callable 06/01/2028) | 4.75% | 09/01/2028 | 909000 | 923380 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL CORPORATE BONDS (Cost $11,403,773)** |  |  |  | 11533662 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**EXCHANGE TRADED FUNDS - 15.2%** |  |  | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AllianceBernstein Global High Income Fund, Inc. |  |  | 115295 | 1201374 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BondBloxx CCC-Rated USD High Yield Corporate<br> Bond ETF<sup>(a)</sup> |  |  | 9981 | 372092 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Invesco Emerging Markets Sovereign Debt ETF |  |  | 44056 | 968351 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Invesco Global Ex US High Yield Corporate Bond ETF |  |  | 18703 | 374621 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iShares 0-5 Year High Yield Corporate Bond ETF |  |  | 29802 | 1274334 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iShares J.P. Morgan EM High Yield Bond ETF<sup>(a)</sup> |  |  | 29165 | 1191390 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;VanEck Emerging Markets High Yield Bond ETF |  |  | 43682 | 884997 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL EXCHANGE TRADED FUNDS<br> (Cost $6,481,147)** |  |  |  | 6267159 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**INVESTMENT COMPANIES - 14.2%** |  |  | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ares Capital Corp.<sup>(a)</sup> |  |  | 67753 | 1261561 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Blue Owl Capital Corp. |  |  | 29820 | 336668 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Golub Capital BDC, Inc.<sup>(a)</sup> |  |  | 81410 | 976106 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hercules Capital, Inc.<sup>(a)</sup> |  |  | 78874 | 1120799 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PennantPark Floating Rate Capital Ltd.<sup>(a)</sup> |  |  | 107978 | 881100 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sixth Street Specialty Lending, Inc.<sup>(a)</sup> |  |  | 54387 | 941983 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Trinity Capital, Inc.<sup>(a)</sup> |  |  | 21000 | 310590 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL INVESTMENT COMPANIES (Cost $7,234,027)** |  |  |  | 5828807 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**PREFERRED STOCKS - 29.3%** | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Banks - 6.2%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Associated Banc-Corp. Series F, 5.63%, Perpetual | 39285 | $815556 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Truist Financial Corp. Series O, 5.25%, Perpetual | 40651 | 889444 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wells Fargo & Co. Series AA, 4.70%, Perpetual<sup>(a)</sup> | 43278 | 843921 |
|  |  | 2548921 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Consumer Finance - 2.0%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capital One Financial Corp. Series J, 4.80%, Perpetual | 43551 | 808742 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Diversified Banks - 4.7%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bank of America Corp. Series KK, 5.38%, Perpetual | 41366 | 940249 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;JPMorgan Chase & Co. Series EE, 6.00%, Perpetual | 39649 | 1000741 |
|  |  | 1940990 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Financial Services - 3.9%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Morgan Stanley Series L, 4.88%, Perpetual | 42550 | 888019 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Morgan Stanley Series O, 4.25%, Perpetual<sup>(a)</sup> | 41258 | 744294 |
|  |  | 1632313 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Life Insurance - 4.0%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AEGON Funding Co. LLC, 5.10%, 12/15/2049 (Callable 03/15/2026) | 41639 | 832780 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MetLife, Inc. Series F, 4.75%, Perpetual | 41457 | 810484 |
|  |  | 1643264 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Property & Casualty Insurance - 2.1%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Allstate Corp. Series H, 5.10%, Perpetual | 40468 | 861564 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Utilities - 4.4%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CMS Energy Corp., 5.88%, 03/01/2079 (Callable 01/24/2026) | 40378 | 940000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Southern Co. Series 2020, 4.95%, 01/30/2080 (Callable 02/12/2026) | 41185 | 860355 |
|  |  | 1800355 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Wireless Telecommunications Services - 2.0%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AT&T, Inc. Series C, 4.75%, Perpetual | 42004 | 818238 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL PREFERRED STOCKS (Cost $13,880,369)** |  | 12054387 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**SHORT-TERM INVESTMENTS - 19.1%** | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Investments Purchased with Proceeds from Securities Lending - 19.1%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mount Vernon Liquid Assets Portfolio, LLC, 3.78%<sup>(c)</sup> | 7883780 | 7883780 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Money Market Funds - 0.0%<sup>(d)</sup>** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;First American Government Obligations Fund - Class X, 3.60%<sup>(c)</sup> | 378.0 | $378 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL SHORT-TERM INVESTMENTS<br> (Cost $7,884,158)** |  | 7884158 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL INVESTMENTS - 118.6% (Cost $51,753,414)** |  | $48852812 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Liabilities in Excess of Other Assets - (18.6)% |  | (7646344) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL NET ASSETS - 100.0%** |  | $41206468 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Percentages are stated as a percent of net assets. |  |  |

---

REIT Real Estate Investment Trust

(a) All or a portion of this security is on loan as of February 28, 2026. The total market value of these securities was $7,438,155 which represented 18.1% of net assets.

(b) At maturity security. Interest is paid in full at the maturity date.

(c) The rate shown represents the 7-day annualized effective yield as of February 28, 2026.

(d) Does not round to 0.1% or (0.1)%, as applicable.

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Tidal Trust I

- **b. Investment Company Act file number:** 811-23377

- **c. CIK number of Registrant:** 0001742912

- **d. LEI of Registrant:** 549300VTYHP8U2332C46

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 234 West Florida Street

  - **City:** Milwaukee

  - **State:** WI

  - **Foreign country:** US

  - **Zip / Postal Code:** 53204

  - **Telephone number:** 8449867676

**Item A.2. Information about the Series.**

- **a. Name of Series:** Sound Enhanced Fixed Income ETF

- **b. EDGAR series identifier (if any):** S000070510

- **c. LEI of Series:** 549300R07TDHWH3VME68

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2026-11-30

- **b. Date as of which information is reported:** 2026-02-28

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $49198679.21

**Total Liabilities:** $7992423.74

**Net Assets:** $41206255.47

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** 0 | **1-Year:** -149.54 | **5-Year:** -390.02 | **10-Year:** -1986.59 | **30-Year:** 0

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** 0 | **1-Year:** -115.17 | **5-Year:** -1357.64 | **10-Year:** -630.6 | **30-Year:** 0

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000224019 | 0.16%                | 1.26%                | -1.20%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $172689.72               | $-430692.41                                |
| Month 2  | $20457.51                | $392702.40                                 |
| Month 3  | $0.00                    | $-733953.59                                |

**Designated Index Information**

- **Index Name:** N/A

- **Index Identifier:** N/A

### Schedule of Portfolio Investments

| Name                                          | Title                                                               | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   | Fair Value Level   | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| AEGON Funding Co LLC                          | AEGON Funding Co LLC                                                | CUSIP: 00775V104<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     41639 | NS      | $832780.00    | 2.02%             |  |  |  | No            | 1                  | On Loan: No      |
| AllianceBernstein Global High Income Fund Inc | AllianceBernstein Global High Income Fund Inc                       | CUSIP: 01879R106<br>LEI: N/A                  | Long             | EC               | RF                | US        |    115295 | NS      | $1201373.90   | 2.92%             |  |  |  | No            | 1                  | On Loan: No      |
| Allstate Corp/The                             | Allstate Corp/The                                                   | CUSIP: 020002838<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     40468 | NS      | $861563.72    | 2.09%             |  |  |  | No            | 1                  | On Loan: No      |
| Alpine Income Property Trust I                | Alpine Income Property Trust Inc                                    | CUSIP: 02083X103<br>LEI: 254900VQGUBS1J4C4N33 | Long             | EC               | CORP              | US        |     24484 | NS      | $482824.48    | 1.17%             |  |  |  | No            | 1                  | On Loan: No      |
| AMERICAN AXLE & MFG INC                       | American Axle & Manufacturing Inc                                   | CUSIP: 02406PBB5<br>LEI: RY5TAKFOBLDUGX31MS24 | Long             | DBT              | CORP              | US        |    825000 | PA      | $806577.67    | 1.96%             | 2029-10-01      | Fixed         | 5.00%                 | No            | 2                  | On Loan: No      |
| Apache Corp                                   | Apache Corp                                                         | CUSIP: 037411AW5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    909000 | PA      | $822496.50    | 2.00%             | 2040-09-01      | Fixed         | 5.10%                 | No            | 2                  | On Loan: No      |
| Ares Capital Corp                             | Ares Capital Corp                                                   | CUSIP: 04010L103<br>LEI: WEQ82666OJYSI5GUAB47 | Long             | EC               | CORP              | US        |     67753 | NS      | $1261560.86   | 3.06%             |  |  |  | No            | 1                  | On Loan: —       |
| Associated Banc-Corp                          | Associated Banc-Corp                                                | CUSIP: 045487402<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     39285 | NS      | $815556.60    | 1.98%             |  |  |  | No            | 1                  | On Loan: No      |
| AT&T Inc                                      | AT&T Inc                                                            | CUSIP: 00206R706<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     42004 | NS      | $818237.92    | 1.99%             |  |  |  | No            | 1                  | On Loan: No      |
| BANK OF AMERICA CORP                          | Bank of America Corp                                                | CUSIP: 06053U601<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EP               | CORP              | US        |     41366 | NS      | $940249.18    | 2.28%             |  |  |  | No            | 1                  | On Loan: No      |
| Blackstone Secured Lending Fun                | Blackstone Secured Lending Fund                                     | CUSIP: 09261X102<br>LEI: 549300KM7KWQHVBNH962 | Long             | EC               | CORP              | US        |     14920 | NS      | $356289.60    | 0.86%             |  |  |  | No            | 1                  | On Loan: —       |
| Blue Owl Capital Corp                         | Blue Owl Capital Corp                                               | CUSIP: 69121K104<br>LEI: 2549000BD79OOCPF2L94 | Long             | EC               | CORP              | US        |     29820 | NS      | $336667.80    | 0.82%             |  |  |  | No            | 1                  | On Loan: No      |
| BondBloxx CCC-Rated USD High Y                | BondBloxx CCC-Rated USD High Yield Corporate Bond ETF               | CUSIP: 09789C887<br>LEI: N/A                  | Long             | EC               | RF                | US        |      9981 | NS      | $372091.68    | 0.90%             |  |  |  | No            | 1                  | On Loan: —       |
| Capital One Financial Corp                    | Capital One Financial Corp                                          | CUSIP: 14040H782<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     43551 | NS      | $808742.07    | 1.96%             |  |  |  | No            | 1                  | On Loan: No      |
| CELANESE US HOLDINGS LLC                      | Celanese US Holdings LLC                                            | CUSIP: 15089QAP9<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |    158000 | PA      | $166740.56    | 0.40%             | 2032-07-15      | Fixed         | 7.38%                 | No            | 2                  | On Loan: No      |
| Chemours Co/The                               | Chemours Co/The                                                     | CUSIP: 163851AE8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    505000 | PA      | $510633.28    | 1.24%             | 2027-05-15      | Fixed         | 5.38%                 | No            | 2                  | On Loan: No      |
| CMS Energy Corp                               | CMS Energy Corp                                                     | CUSIP: 125896845<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     40378 | NS      | $939999.84    | 2.28%             |  |  |  | No            | 1                  | On Loan: No      |
| DANA INC                                      | Dana Inc                                                            | CUSIP: 235825AH9<br>LEI: KVWHW7YLZPFJM8QYNJ51 | Long             | DBT              | CORP              | US        |    683000 | PA      | $656228.18    | 1.59%             | 2030-09-01      | Fixed         | 4.25%                 | No            | 2                  | On Loan: No      |
| DELL INC                                      | Dell Inc                                                            | CUSIP: 24702RAF8<br>LEI: 3E70L4WYANTIWWIPHC81 | Long             | DBT              | CORP              | US        |    712000 | PA      | $774679.07    | 1.88%             | 2038-04-15      | Fixed         | 6.50%                 | No            | 2                  | On Loan: No      |
| Digital Realty Trust Inc                      | Digital Realty Trust Inc                                            | CUSIP: 253868103<br>LEI: 549300HKCZ31D08NEI41 | Long             | EC               | CORP              | US        |       806 | NS      | $142823.20    | 0.35%             |  |  |  | No            | 1                  | On Loan: No      |
| EXPAND ENERGY CORP                            | Expand Energy Corp                                                  | CUSIP: 845467AT6<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | DBT              | CORP              | US        |    572000 | PA      | $571432.47    | 1.39%             | 2032-02-01      | Fixed         | 4.75%                 | No            | 2                  | On Loan: No      |
| First American Government Obli                | First American Government Obligations Fund                          | CUSIP: 31846V336<br>LEI: 549300R5MYM6VZF1RM44 | Long             | STIV             | RF                | US        |     12378 | NS      | $12377.96     | 0.03%             |  |  |  | No            | 1                  | On Loan: No      |
| Gaming and Leisure Properties                 | Gaming and Leisure Properties Inc                                   | CUSIP: 36467J108<br>LEI: 5493006GWRDBCZYWTM57 | Long             | EC               | CORP              | US        |      2939 | NS      | $143746.49    | 0.35%             |  |  |  | No            | 1                  | On Loan: No      |
| Golub Capital BDC Inc                         | Golub Capital BDC Inc                                               | CUSIP: 38173M102<br>LEI: 2549005WE0QLGK9APF78 | Long             | EC               | CORP              | US        |     81410 | NS      | $976105.90    | 2.37%             |  |  |  | No            | 1                  | On Loan: —       |
| GOODYEAR TIRE & RUBBER                        | Goodyear Tire & Rubber Co/The                                       | CUSIP: 382550BN0<br>LEI: 5493002BI0S2ZQUY3437 | Long             | DBT              | CORP              | US        |   1044000 | PA      | $1024036.32   | 2.49%             | 2029-07-15      | Fixed         | 5.00%                 | No            | 2                  | On Loan: No      |
| Hercules Capital Inc                          | Hercules Capital Inc                                                | CUSIP: 427096508<br>LEI: 549300UJ5OC256GR2B73 | Long             | EC               | CORP              | US        |     78874 | NS      | $1120799.54   | 2.72%             |  |  |  | No            | 1                  | On Loan: —       |
| HF SINCLAIR CORP                              | HF Sinclair Corp                                                    | CUSIP: 403949AS9<br>LEI: 2549009G116AM01XHN24 | Long             | DBT              | CORP              | US        |    247000 | PA      | $260165.65    | 0.63%             | 2035-01-15      | Fixed         | 6.25%                 | No            | 2                  | On Loan: No      |
| HILTON DOMESTIC OPERATIN                      | Hilton Domestic Operating Co Inc                                    | CUSIP: 432833AF8<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |    902000 | PA      | $903172.60    | 2.19%             | 2030-01-15      | Fixed         | 4.88%                 | No            | 2                  | On Loan: No      |
| HUNTSMAN INTERNATIONAL L                      | Huntsman International LLC                                          | CUSIP: 44701QBE1<br>LEI: 3YTEJFW18LGIUQ2N5J61 | Long             | DBT              | CORP              | US        |    518000 | PA      | $495923.27    | 1.20%             | 2029-05-01      | Fixed         | 4.50%                 | No            | 2                  | On Loan: No      |
| HUNTSMAN INTERNATIONAL L                      | Huntsman International LLC                                          | CUSIP: 44701QBG6<br>LEI: 3YTEJFW18LGIUQ2N5J61 | Long             | DBT              | CORP              | US        |    285000 | PA      | $272779.15    | 0.66%             | 2034-10-15      | Fixed         | 5.70%                 | No            | 2                  | On Loan: —       |
| Invesco Emerging Markets Sovereign Debt ETF   | Invesco Emerging Markets Sovereign Debt ETF                         | CUSIP: 46138E784<br>LEI: N/A                  | Long             | EC               | RF                | US        |     44056 | NS      | $968350.88    | 2.35%             |  |  |  | No            | 1                  | On Loan: No      |
| Invesco Global Ex US High Yiel                | Invesco Global Ex US High Yield Corporate Bond ETF                  | CUSIP: 46138E669<br>LEI: 549300GTL6XXLFU4LC25 | Long             | EC               | RF                | US        |     18703 | NS      | $374621.09    | 0.91%             |  |  |  | No            | 1                  | On Loan: No      |
| iShares 0-5 Year High Yield Co                | iShares 0-5 Year High Yield Corporate Bond ETF                      | CUSIP: 46434V407<br>LEI: 549300R96U5WQ7R5ID10 | Long             | EC               | RF                | US        |     29802 | NS      | $1274333.52   | 3.09%             |  |  |  | No            | 1                  | On Loan: No      |
| iShares J.P. Morgan EM High Yi                | iShares J.P. Morgan EM High Yield Bond ETF                          | CUSIP: 464286285<br>LEI: 549300DZF05WBBY0EZ78 | Long             | EC               | RF                | US        |     29165 | NS      | $1191390.25   | 2.89%             |  |  |  | No            | 1                  | On Loan: —       |
| JPMORGAN CHASE & CO                           | JPMorgan Chase & Co                                                 | CUSIP: 48128B648<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EP               | CORP              | US        |     39649 | NS      | $1000740.76   | 2.43%             |  |  |  | No            | 1                  | On Loan: No      |
| METLIFE INC                                   | MetLife Inc                                                         | CUSIP: 59156R850<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | EP               | CORP              | US        |     41457 | NS      | $810484.35    | 1.97%             |  |  |  | No            | 1                  | On Loan: No      |
| MORGAN STANLEY                                | Morgan Stanley                                                      | CUSIP: 61762V804<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EP               | CORP              | US        |     42550 | NS      | $888018.50    | 1.81%             |  |  |  | No            | 1                  | On Loan: No      |
| MORGAN STANLEY                                | Morgan Stanley                                                      | CUSIP: 61762V861<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EP               | CORP              | US        |     41258 | NS      | $744294.32    | 1.81%             |  |  |  | No            | 1                  | On Loan: —       |
| Mount Vernon Liquid Assets Portfolio, LLC     | Mount Vernon Liquid Assets Portfolio, LLC                           | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | PF                | US        |   7883780 | NS      | $7883780.00   | 19.13%            |  |  |  | No            | N/A                | On Loan: No      |
| MURPHY OIL CORP                               | Murphy Oil Corp                                                     | CUSIP: 626717AP7<br>LEI: QBKYQD0ODE7DC7PDIN91 | Long             | DBT              | CORP              | US        |    309000 | PA      | $309661.88    | 0.75%             | 2032-10-01      | Fixed         | 6.00%                 | No            | 2                  | On Loan: —       |
| NATIONAL FUEL GAS CO                          | National Fuel Gas Co                                                | CUSIP: 636180BP5<br>LEI: 8JB38FFW1Y3C1HM8E841 | Long             | DBT              | CORP              | US        |    909000 | PA      | $923379.83    | 2.24%             | 2028-09-01      | Fixed         | 4.75%                 | No            | 2                  | On Loan: No      |
| National Health Investors Inc                 | National Health Investors Inc                                       | CUSIP: 63633D104<br>LEI: 549300ZPKZIG6DKDEC02 | Long             | EC               | CORP              | US        |      3052 | NS      | $256581.64    | 0.62%             |  |  |  | No            | 1                  | On Loan: No      |
| National Storage Affiliates Tr                | National Storage Affiliates Trust                                   | CUSIP: 637870106<br>LEI: 529900FS06O8GOYNR108 | Long             | EC               | CORP              | US        |      5821 | NS      | $203851.42    | 0.49%             |  |  |  | No            | 1                  | On Loan: —       |
| NNN REIT Inc                                  | NNN REIT Inc                                                        | CUSIP: 637417106<br>LEI: 5493008JKH5SOTI0JS97 | Long             | EC               | CORP              | US        |      7133 | NS      | $323267.56    | 0.78%             |  |  |  | No            | 1                  | On Loan: No      |
| Omega Healthcare Investors Inc                | Omega Healthcare Investors Inc                                      | CUSIP: 681936100<br>LEI: 549300OJ7ENK42CZ8E73 | Long             | EC               | CORP              | US        |     12184 | NS      | $588121.68    | 1.43%             |  |  |  | No            | 1                  | On Loan: No      |
| PBF HOLDING CO LLC                            | PBF Holding Co LLC / PBF Finance Corp                               | CUSIP: 69318FAJ7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    545000 | PA      | $543158.06    | 1.32%             | 2028-02-15      | Fixed         | 6.00%                 | No            | 2                  | On Loan: No      |
| PennantPark Floating Rate Capi                | PennantPark Floating Rate Capital Ltd                               | CUSIP: 70806A106<br>LEI: 529900BH3IP6381K4L72 | Long             | EC               | CORP              | US        |    107978 | NS      | $881100.48    | 2.14%             |  |  |  | No            | 1                  | On Loan: —       |
| RADIAN GROUP INC                              | Radian Group Inc                                                    | CUSIP: 750236AW1<br>LEI: 54930005OUP720S5U385 | Long             | DBT              | CORP              | US        |    746000 | PA      | $748067.46    | 1.82%             | 2027-03-15      | Fixed         | 4.88%                 | No            | 2                  | On Loan: No      |
| Realty Income Corp                            | Realty Income Corp                                                  | CUSIP: 756109104<br>LEI: 549300CUWDAUZSH43859 | Long             | EC               | CORP              | US        |      8521 | NS      | $570907.00    | 1.39%             |  |  |  | No            | 1                  | On Loan: No      |
| Runway Growth Finance Corp                    | Runway Growth Finance Corp                                          | CUSIP: 78163D100<br>LEI: 254900AXR3J2N1XT0V02 | Long             | EC               | CORP              | US        |     47351 | NS      | $366970.25    | 0.89%             |  |  |  | No            | 1                  | On Loan: No      |
| Sabra Health Care REIT Inc                    | Sabra Health Care REIT Inc                                          | CUSIP: 78573L106<br>LEI: 549300E3BC7GU7TAZ621 | Long             | EC               | CORP              | US        |      8321 | NS      | $170996.55    | 0.41%             |  |  |  | No            | 1                  | On Loan: —       |
| Simon Property Group Inc                      | Simon Property Group Inc                                            | CUSIP: 828806109<br>LEI: 529900GQL5X8H7AO3T64 | Long             | EC               | CORP              | US        |      5328 | NS      | $1086112.80   | 2.64%             |  |  |  | No            | 1                  | On Loan: No      |
| Sixth Street Specialty Lending                | Sixth Street Specialty Lending Inc                                  | CUSIP: 83012A109<br>LEI: 549300TX61566GJWCN05 | Long             | EC               | CORP              | US        |     54387 | NS      | $941982.84    | 2.29%             |  |  |  | No            | 1                  | On Loan: —       |
| Southern Co/The                               | Southern Co/The                                                     | CUSIP: 842587800<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     41185 | NS      | $860354.65    | 2.09%             |  |  |  | No            | 1                  | On Loan: No      |
| TARGA RESOURCES PARTNERS                      | Targa Resources Partners LP / Targa Resources Partners Finance Corp | CUSIP: 87612BBG6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    909000 | PA      | $909536.05    | 2.21%             | 2028-01-15      | Fixed         | 5.00%                 | No            | 2                  | On Loan: No      |
| Trinity Capital Inc                           | Trinity Capital Inc                                                 | CUSIP: 896442308<br>LEI: 549300YGT4SBRQYDVU48 | Long             | EC               | CORP              | US        |     21000 | NS      | $310590.00    | 0.75%             |  |  |  | No            | 1                  | On Loan: —       |
| TRUIST FINANCIAL CORP                         | Truist Financial Corp                                               | CUSIP: 89832Q745<br>LEI: 549300DRQQI75D2JP341 | Long             | EP               | CORP              | US        |     40651 | NS      | $889443.88    | 2.16%             |  |  |  | No            | 1                  | On Loan: No      |
| UNITED RENTALS NORTH AM                       | United Rentals North America Inc                                    | CUSIP: 911365BG8<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |    835000 | PA      | $834994.24    | 2.03%             | 2028-01-15      | Fixed         | 4.88%                 | No            | 2                  | On Loan: No      |
| VanEck Emerging Markets High Y                | VanEck Emerging Markets High Yield Bond ETF                         | CUSIP: 92189F353<br>LEI: 5493000XZY6IPF1JRM25 | Long             | EC               | RF                | US        |     43682 | NS      | $884997.32    | 2.15%             |  |  |  | No            | 1                  | On Loan: No      |
| VICI Properties Inc                           | VICI Properties Inc                                                 | CUSIP: 925652109<br>LEI: 254900RKH6RY9KCJQH63 | Long             | EC               | CORP              | US        |     19601 | NS      | $592146.21    | 1.44%             |  |  |  | No            | 1                  | On Loan: No      |
| Wells Fargo & Co                              | Wells Fargo & Co                                                    | CUSIP: 94988U128<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     43278 | NS      | $843921.00    | 2.05%             |  |  |  | No            | 1                  | On Loan: —       |

### Signature

**Date Signed:** 2026-04-27

**Name of Applicant:** Tidal Trust I

**Signature:** /s/ Aaron Perkovich

**Name of Signer:** Aaron Perkovich

**Title:** Treasurer/Principal Financial Officer