# EDGAR Filing Document

**Accession Number:** 0001924868
**File Stem:** 0000894189-25-015489
**Filing Date:** 2025-11
**Character Count:** 76382
**Document Hash:** 903e183cb0f87a86d9094d3933df3365
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000894189-25-015489.hdr.sgml**: 20251126

**ACCESSION NUMBER**: 0000894189-25-015489

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251126

**DATE AS OF CHANGE**: 20251126

**PERIOD START**: 20260630

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Tidal Trust II
- **CENTRAL INDEX KEY:** 0001924868

**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:** 811-23793
- **FILM NUMBER:** 251525646

**BUSINESS ADDRESS:**
- **STREET 1:** 234 WEST FLORIDA STREET, SUITE 203
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53204
- **BUSINESS PHONE:** (844) 986-7676

**MAIL ADDRESS:**
- **STREET 1:** 234 WEST FLORIDA STREET, SUITE 203
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53204

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Tidal ETF Trust II
- **DATE OF NAME CHANGE:** 20220421

## Series and Classes Contracts Data

### Cambria Chesapeake Pure Trend ETF (Series ID: S000085073)

| Class ID   | Class Name                        | Ticker Symbol   |
|:---|:---|:---|
| C000249937 | Cambria Chesapeake Pure Trend ETF | MFUT            |

## Nport-Ex

---

| | | | |
|:---|:---|:---|:---|
| **Cambria Chesapeake Pure Trend ETF** | **Cambria Chesapeake Pure Trend ETF** | **Cambria Chesapeake Pure Trend ETF** | **Cambria Chesapeake Pure Trend ETF** |
| **Consolidated Schedule of Investments** | **Consolidated Schedule of Investments** | **Consolidated Schedule of Investments** | **Consolidated Schedule of Investments** |
| **September 30, 2025 (Unaudited)** | **September 30, 2025 (Unaudited)** | **September 30, 2025 (Unaudited)** | **September 30, 2025 (Unaudited)** |
| **COMMON STOCKS - 37.5%** | **COMMON STOCKS - 37.5%** | **Shares** | **Value**  |
| **Aerospace & Defense - 2.6%** | **Aerospace & Defense - 2.6%** | **Aerospace & Defense - 2.6%** | |
| Airbus SE <sup>(a)</sup> | Airbus SE <sup>(a)</sup> | 1101 | $255373 |
| Northrop Grumman Corp. <sup>(a)</sup> | Northrop Grumman Corp. <sup>(a)</sup> | 541 | 329642 |
|  |  |  | 585015 |
| **Agriculture - 0.9%** | **Agriculture - 0.9%** | **Agriculture - 0.9%** |  |
| Archer-Daniels-Midland Co. <sup>(a)</sup> | Archer-Daniels-Midland Co. <sup>(a)</sup> | 3284 | 196186 |
| **Auto Manufacturers - 1.0%** | **Auto Manufacturers - 1.0%** | **Auto Manufacturers - 1.0%** |  |
| Li Auto, Inc. - ADR <sup>(a)(b)</sup> | Li Auto, Inc. - ADR <sup>(a)(b)</sup> | 2253 | 57091 |
| Tesla, Inc. <sup>(a)(b)</sup> | Tesla, Inc. <sup>(a)(b)</sup> | 382 | 169883 |
|  |  |  | 226974 |
| **Biotechnology - 1.4%** | **Biotechnology - 1.4%** | **Biotechnology - 1.4%** |  |
| Corteva, Inc. <sup>(a)</sup> | Corteva, Inc. <sup>(a)</sup> | 4503 | 304538 |
| **Building Materials - 2.3%** | **Building Materials - 2.3%** | **Building Materials - 2.3%** |  |
| Martin Marietta Materials, Inc. <sup>(a)</sup> | Martin Marietta Materials, Inc. <sup>(a)</sup> | 372 | 234464 |
| Vulcan Materials Co. <sup>(a)</sup> | Vulcan Materials Co. <sup>(a)</sup> | 927 | 285164 |
|  |  |  | 519628 |
| **Chemicals - 1.8%** | **Chemicals - 1.8%** | **Chemicals - 1.8%** |  |
| Air Liquide SA <sup>(a)</sup> | Air Liquide SA <sup>(a)</sup> | 1031 | 214254 |
| Nutrien Ltd. <sup>(a)</sup> | Nutrien Ltd. <sup>(a)</sup> | 3025 | 177598 |
|  |  |  | 391852 |
| **Commercial Services - 2.7%** | **Commercial Services - 2.7%** | **Commercial Services - 2.7%** |  |
| Automatic Data Processing, Inc. <sup>(a)</sup> | Automatic Data Processing, Inc. <sup>(a)</sup> | 1423 | 417650 |
| United Rentals, Inc. <sup>(a)</sup> | United Rentals, Inc. <sup>(a)</sup> | 177 | 168975 |
|  |  |  | 586625 |
| **Computers - 0.4%** | **Computers - 0.4%** | **Computers - 0.4%** |  |
| Apple, Inc. <sup>(a)</sup> | Apple, Inc. <sup>(a)</sup> | 386 | 98287 |
| **Electric - 1.1%** | **Electric - 1.1%** | **Electric - 1.1%** |  |
| NextEra Energy, Inc. <sup>(a)</sup> | NextEra Energy, Inc. <sup>(a)</sup> | 715 | 53975 |
| Sempra <sup>(a)</sup> | Sempra <sup>(a)</sup> | 2001 | 180050 |
|  |  |  | 234025 |
| **Healthcare - Products - 2.9%** | **Healthcare - Products - 2.9%** | **Healthcare - Products - 2.9%** |  |
| Abbott Laboratories <sup>(a)</sup> | Abbott Laboratories <sup>(a)</sup> | 2913 | 390167 |
| Edwards Lifesciences Corp. <sup>(a)(b)</sup> | Edwards Lifesciences Corp. <sup>(a)(b)</sup> | 3238 | 251819 |
|  |  |  | 641986 |
| **Home Builders - 0.5%** | **Home Builders - 0.5%** | **Home Builders - 0.5%** |  |
| D.R. Horton, Inc. <sup>(a)</sup> | D.R. Horton, Inc. <sup>(a)</sup> | 628 | 106427 |
| **Home Furnishings - 1.3%** | **Home Furnishings - 1.3%** | **Home Furnishings - 1.3%** |  |
| Sony Group Corp. - ADR <sup>(a)</sup> | Sony Group Corp. - ADR <sup>(a)</sup> | 9642 | 277593 |
| **Insurance - 0.0%<sup>(c)</sup>** | **Insurance - 0.0%<sup>(c)</sup>** | **Insurance - 0.0%<sup>(c)</sup>** |  |
| Sony Financial Group, Inc. - ADR <sup>(b)</sup> | Sony Financial Group, Inc. - ADR <sup>(b)</sup> | 1928 | 1427 |
| **Iron & Steel - 1.3%** | **Iron & Steel - 1.3%** | **Iron & Steel - 1.3%** |  |
| Nucor Corp. <sup>(a)</sup> | Nucor Corp. <sup>(a)</sup> | 642 | 86946 |
| Vale SA - ADR <sup>(a)</sup> | Vale SA - ADR <sup>(a)</sup> | 18066 | 196197 |
|  |  |  | 283143 |
| **Machinery - Diversified - 1.3%** | **Machinery - Diversified - 1.3%** | **Machinery - Diversified - 1.3%** |  |
| Deere & Co. <sup>(a)</sup> | Deere & Co. <sup>(a)</sup> | 646 | 295390 |
| **Mining - 3.0%** | **Mining - 3.0%** | **Mining - 3.0%** |  |
| BHP Group Ltd. - ADR <sup>(a)</sup> | BHP Group Ltd. - ADR <sup>(a)</sup> | 2893 | 161285 |
| Newmont Corp. <sup>(a)</sup> | Newmont Corp. <sup>(a)</sup> | 3124 | 263384 |
| Rio Tinto PLC - ADR <sup>(a)</sup> | Rio Tinto PLC - ADR <sup>(a)</sup> | 3683 | 243115 |
|  |  |  | 667784 |
| **Oil & Gas - 1.7%** | **Oil & Gas - 1.7%** | **Oil & Gas - 1.7%** |  |
| Equinor ASA - ADR <sup>(a)</sup> | Equinor ASA - ADR <sup>(a)</sup> | 6072 | 148035 |
| Suncor Energy, Inc. <sup>(a)</sup> | Suncor Energy, Inc. <sup>(a)</sup> | 5678 | 237397 |
|  |  |  | 385432 |
| **Pharmaceuticals - 0.2%** | **Pharmaceuticals - 0.2%** | **Pharmaceuticals - 0.2%** |  |
| Sanofi SA - ADR <sup>(a)</sup> | Sanofi SA - ADR <sup>(a)</sup> | 1062 | 50126 |
| **Pipelines - 1.7%** | **Pipelines - 1.7%** | **Pipelines - 1.7%** |  |
| Cheniere Energy, Inc. <sup>(a)</sup> | Cheniere Energy, Inc. <sup>(a)</sup> | 1570 | 368919 |
| **Retail - 1.0%** | **Retail - 1.0%** | **Retail - 1.0%** |  |
| Yum! Brands, Inc. <sup>(a)</sup> | Yum! Brands, Inc. <sup>(a)</sup> | 1517 | 230584 |
| **Semiconductors - 4.0%** | **Semiconductors - 4.0%** | **Semiconductors - 4.0%** |  |
| Advanced Micro Devices, Inc. <sup>(a)(b)</sup> | Advanced Micro Devices, Inc. <sup>(a)(b)</sup> | 783 | 126682 |
| ASML Holding NV <sup>(a)</sup> | ASML Holding NV <sup>(a)</sup> | 195 | 188778 |
| Microchip Technology, Inc. <sup>(a)</sup> | Microchip Technology, Inc. <sup>(a)</sup> | 505 | 32431 |
| Micron Technology, Inc. <sup>(a)</sup> | Micron Technology, Inc. <sup>(a)</sup> | 1245 | 208313 |
| NVIDIA Corp. <sup>(a)</sup> | NVIDIA Corp. <sup>(a)</sup> | 1794 | 334724 |
|  |  |  | 890928 |
| **Software - 1.8%** | **Software - 1.8%** | **Software - 1.8%** |  |
| Electronic Arts, Inc. <sup>(a)</sup> | Electronic Arts, Inc. <sup>(a)</sup> | 1081 | 218038 |
| Snowflake, Inc. - Class A <sup>(a)(b)</sup> | Snowflake, Inc. - Class A <sup>(a)(b)</sup> | 796 | 179538 |
|  |  |  | 397576 |
| **Telecommunications - 1.8%** | **Telecommunications - 1.8%** | **Telecommunications - 1.8%** |  |
| Cisco Systems, Inc. <sup>(a)</sup> | Cisco Systems, Inc. <sup>(a)</sup> | 5843 | 399778 |
| **Water - 0.8%** | **Water - 0.8%** | **Water - 0.8%** |  |
| American Water Works Co., Inc. <sup>(a)</sup> | American Water Works Co., Inc. <sup>(a)</sup> | 1246 | 173431 |
| **TOTAL COMMON STOCKS** (Cost $7,622,651) | **TOTAL COMMON STOCKS** (Cost $7,622,651) | **TOTAL COMMON STOCKS** (Cost $7,622,651) | 8313654 |
| **EXCHANGE TRADED FUNDS - 0.8%** | **EXCHANGE TRADED FUNDS - 0.8%** |  |  |
| iShares Ethereum Trust ETF<sup>(a)(b)</sup> | iShares Ethereum Trust ETF<sup>(a)(b)</sup> | 5501 | 173337 |
| **TOTAL EXCHANGE TRADED FUNDS** (Cost $172,127) | **TOTAL EXCHANGE TRADED FUNDS** (Cost $172,127) | **TOTAL EXCHANGE TRADED FUNDS** (Cost $172,127) | 173337 |
| **REAL ESTATE INVESTMENT TRUSTS - COMMON - 0.1%** | **REAL ESTATE INVESTMENT TRUSTS - COMMON - 0.1%** |  |  |
| Public Storage <sup>(a)</sup> | Public Storage <sup>(a)</sup> | 47 | 13576 |
| **TOTAL REAL ESTATE INVESTMENT TRUSTS - COMMON** (Cost $13,422) | **TOTAL REAL ESTATE INVESTMENT TRUSTS - COMMON** (Cost $13,422) | **TOTAL REAL ESTATE INVESTMENT TRUSTS - COMMON** (Cost $13,422) | 13576 |
| **SHORT-TERM INVESTMENTS** | **SHORT-TERM INVESTMENTS** | **SHORT-TERM INVESTMENTS** | **SHORT-TERM INVESTMENTS** |
| **MONEY MARKET FUNDS - 37.7%** | **MONEY MARKET FUNDS - 37.7%** |  |  |
| First American Government Obligations Fund - Class X, 4.05%<sup>(a)(d)(e)</sup> | First American Government Obligations Fund - Class X, 4.05%<sup>(a)(d)(e)</sup> | 8337827 | 8337827 |
| **TOTAL MONEY MARKET FUNDS** (Cost $8,337,827) | **TOTAL MONEY MARKET FUNDS** (Cost $8,337,827) | **TOTAL MONEY MARKET FUNDS** (Cost $8,337,827) | 8337827 |
| **TOTAL INVESTMENTS - 76.1% (**Cost $16,146,027**)** | **TOTAL INVESTMENTS - 76.1% (**Cost $16,146,027**)** | **TOTAL INVESTMENTS - 76.1% (**Cost $16,146,027**)** | 16838394 |
| Other Assets in Excess of Liabilities - 23.9% | Other Assets in Excess of Liabilities - 23.9% | Other Assets in Excess of Liabilities - 23.9% | 5291039 |
| **TOTAL NET ASSETS - 100.0%** | 0.0% | 0.0% | $22129433 |
| two | two | two | –% |
| Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. | –% |

---

ADR - American Depositary Receipt <br> ASA - Advanced Subscription Agreement

(a) All or a portion of security has been pledged as collateral for futures contracts. The fair value of assets committed as collateral as of September 30, 2025 is $16,782,618.

(b) Non-income producing security.

(c) Represents less than 0.05% of net assets.

(d) The rate shown represents the 7-day annualized yield as of September 30, 2025.

(e) Fair value of this security exceeds 25% of the Fund's net assets. Additional information for this security, including the financial statements, is available from the SEC's EDGAR database at
 www.sec.gov.

------

---

| | | |
|:---|:---|:---|
| **Cambria Chesapeake Pure Trend ETF** | **Cambria Chesapeake Pure Trend ETF** | **Cambria Chesapeake Pure Trend ETF** |
| **Consolidated Schedule of Securities Sold Short** | **Consolidated Schedule of Securities Sold Short** | **Consolidated Schedule of Securities Sold Short** |
| **September 30, 2025 (Unaudited)** | **September 30, 2025 (Unaudited)** | **September 30, 2025 (Unaudited)** |
| **COMMON STOCKS** - **(11.2)%** | **Shares** | **Value** |
| **Beverages - (2.3)%** | **Beverages - (2.3)%** | |
| Constellation Brands, Inc. - Class A | (1259) | $(169550) |
| Fomento Economico Mexicano SAB de CV - ADR | (691) | (68153) |
| PepsiCo, Inc. | (1963) | (275684) |
|  |  | (513387) |
| **Chemicals - (0.5)%** | **Chemicals - (0.5)%** |  |
| Dow, Inc. | (5015) | (114994) |
| **Food - (2.6)%** | **Food - (2.6)%** |  |
| Conagra Brands, Inc. | (9637) | (176453) |
| General Mills, Inc. | (4135) | (208487) |
| Kraft Heinz Co. | (6902) | (179728) |
|  |  | (564668) |
| **Healthcare - Products - (1.0)%** | **Healthcare - Products - (1.0)%** |  |
| Zimmer Biomet Holdings, Inc. | (2153) | (212071) |
| **Healthcare - Services - (0.2)%** | **Healthcare - Services - (0.2)%** |  |
| Elevance Health, Inc. | (109) | (35220) |
| **Insurance - (0.2)%** | **Insurance - (0.2)%** |  |
| Arch Capital Group Ltd. | (564) | (51172) |
| **Pharmaceuticals - (2.2)%** | **Pharmaceuticals - (2.2)%** |  |
| Merck & Co., Inc. | (2517) | (211252) |
| Zoetis, Inc. | (1930) | (282397) |
|  |  | (493649) |
| **Software - (2.2)%** | **Software - (2.2)%** |  |
| Paychex, Inc. | (1929) | (244520) |
| Roper Technologies, Inc. | (502) | (250342) |
|  |  | (494862) |
| **Transportation - (0.0)%<sup>(a)</sup>** | **Transportation - (0.0)%<sup>(a)</sup>** |  |
| Canadian Pacific Kansas City Ltd. | (90) | (6704) |
| **TOTAL COMMON STOCKS** (Proceeds $2,920,721) | **TOTAL COMMON STOCKS** (Proceeds $2,920,721) | (2486727) |
| **TOTAL SECURITIES SOLD SHORT - (11.2)%** (Proceeds $2,920,721) |  | $(2486727) |
| Percentages are stated as a percent of net assets. |  |  |
| ADR - American Depositary Receipt | ADR - American Depositary Receipt | ADR - American Depositary Receipt |

---

(a) Represents less than 0.05% of net assets.

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Cambria Chesapeake Pure Trend ETF** | **Cambria Chesapeake Pure Trend ETF** | **Cambria Chesapeake Pure Trend ETF** | **Cambria Chesapeake Pure Trend ETF** | **Cambria Chesapeake Pure Trend ETF** |
| **Consolidated Schedule of Futures Contracts** | **Consolidated Schedule of Futures Contracts** | **Consolidated Schedule of Futures Contracts** | **Consolidated Schedule of Futures Contracts** | **Consolidated Schedule of Futures Contracts** |
| **September 30, 2025 (Unaudited)** | **September 30, 2025 (Unaudited)** | **September 30, 2025 (Unaudited)** | **September 30, 2025 (Unaudited)** | **September 30, 2025 (Unaudited)** |
| The Cambria Chesapeake Pure Trend ETF & Cambria Chesapeake Pure Trend Cayman Subsidiary had the following futures contracts outstanding with StoneX Financial, Inc.: | The Cambria Chesapeake Pure Trend ETF & Cambria Chesapeake Pure Trend Cayman Subsidiary had the following futures contracts outstanding with StoneX Financial, Inc.: | The Cambria Chesapeake Pure Trend ETF & Cambria Chesapeake Pure Trend Cayman Subsidiary had the following futures contracts outstanding with StoneX Financial, Inc.: | The Cambria Chesapeake Pure Trend ETF & Cambria Chesapeake Pure Trend Cayman Subsidiary had the following futures contracts outstanding with StoneX Financial, Inc.: | The Cambria Chesapeake Pure Trend ETF & Cambria Chesapeake Pure Trend Cayman Subsidiary had the following futures contracts outstanding with StoneX Financial, Inc.: |
| **Description** | **Contracts**<br> **Purchased** | **Expiration Date** | **Notional Value** | **Value / Unrealized**<br> **Appreciation**<br> (Depreciation) |
| &nbsp;&nbsp;&nbsp;&nbsp;3 Month Canadian Overnight Repo Rate Average | 69 | 03/16/2027 | $12109961 | $4051 |
| &nbsp;&nbsp;&nbsp;&nbsp;3 Month Euribor | 41 | 12/13/2027 | 11771012 | 1994 |
| &nbsp;&nbsp;&nbsp;&nbsp;3 Month Swiss Average Overnight Rate | 57 | 03/16/2027 | 17923317 | (2902) |
| &nbsp;&nbsp;&nbsp;&nbsp;3-Month Secured Overnight Financing Rate | 54 | 03/14/2028 | 13070700 | 5844 |
| &nbsp;&nbsp;&nbsp;&nbsp;Arabica Coffee <sup>(a)</sup> | 3 | 12/18/2025 | 421706 | 81603 |
| &nbsp;&nbsp;&nbsp;&nbsp;AUD/USD Cross Currency Rate | 6 | 12/15/2025 | 397320 | (2463) |
| &nbsp;&nbsp;&nbsp;&nbsp;Australian 90 Day Bank Bills | 74 | 12/10/2026 | 48634445 | 5673 |
| &nbsp;&nbsp;&nbsp;&nbsp;British Pound/US Dollar Cross Currency Rate | 11 | 12/15/2025 | 924756 | (9091) |
| &nbsp;&nbsp;&nbsp;&nbsp;Copper <sup>(a)</sup> | 1 | 12/29/2025 | 121412 | 8058 |
| &nbsp;&nbsp;&nbsp;&nbsp;Crude Palm Oil <sup>(a)</sup> | 15 | 12/15/2025 | 387787 | (6843) |
| &nbsp;&nbsp;&nbsp;&nbsp;Crude Soybean Oil <sup>(a)</sup> | 9 | 12/12/2025 | 267246 | (22840) |
| &nbsp;&nbsp;&nbsp;&nbsp;Euro/US Dollar Cross Currency Rate | 7 | 12/15/2025 | 1031800 | (645) |
| &nbsp;&nbsp;&nbsp;&nbsp;Euro-BTP Italian Government Bonds | 7 | 12/08/2025 | 985688 | 4007 |
| &nbsp;&nbsp;&nbsp;&nbsp;Feeder Cattle <sup>(a)</sup> | 7 | 11/20/2025 | 1257725 | 5389 |
| &nbsp;&nbsp;&nbsp;&nbsp;Gold <sup>(a)</sup> | 4 | 12/29/2025 | 1549280 | 196821 |
| &nbsp;&nbsp;&nbsp;&nbsp;ICE 3 Month SONIA Rate | 6 | 03/14/2028 | 1944366 | 482 |
| &nbsp;&nbsp;&nbsp;&nbsp;ICE European Climate Exchange Emissions <sup>(a)</sup> | 2 | 12/15/2025 | 177943 | (2859) |
| &nbsp;&nbsp;&nbsp;&nbsp;Lean Hogs <sup>(a)</sup> | 15 | 12/12/2025 | 532350 | (3377) |
| &nbsp;&nbsp;&nbsp;&nbsp;Live Cattle <sup>(a)</sup> | 16 | 12/31/2025 | 1502560 | 13038 |
| &nbsp;&nbsp;&nbsp;&nbsp;London Metals – Tin <sup>(a)</sup> | 2 | 12/15/2025 | 355000 | 7783 |
| &nbsp;&nbsp;&nbsp;&nbsp;London Metals – Zinc <sup>(a)</sup> | 5 | 12/15/2025 | 371143 | (1463) |
| &nbsp;&nbsp;&nbsp;&nbsp;Low Sulphur Gas Oil <sup>(a)</sup> | 5 | 11/12/2025 | 343500 | (6519) |
| &nbsp;&nbsp;&nbsp;&nbsp;NY Harbor ULSD <sup>(a)</sup> | 4 | 10/31/2025 | 390449 | (4201) |
| &nbsp;&nbsp;&nbsp;&nbsp;Palladium <sup>(a)</sup> | 2 | 12/29/2025 | 257480 | 36471 |
| &nbsp;&nbsp;&nbsp;&nbsp;Platinum <sup>(a)</sup> | 7 | 01/28/2026 | 561995 | 918 |
| &nbsp;&nbsp;&nbsp;&nbsp;SGX TSI Iron Ore <sup>(a)</sup> | 53 | 10/31/2025 | 549610 | 10335 |
| &nbsp;&nbsp;&nbsp;&nbsp;Short-term Euro-BTP | 63 | 12/08/2025 | 7989924 | (2803) |
| &nbsp;&nbsp;&nbsp;&nbsp;Silver <sup>(a)</sup> | 3 | 12/29/2025 | 699600 | 111361 |
| &nbsp;&nbsp;&nbsp;&nbsp;Swiss Franc/US Dollar Cross Currency Rate | 5 | 12/15/2025 | 792063 | (1992) |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury 10 Year Notes | 19 | 12/19/2025 | 2137500 | (18136) |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury 5 Year Note | 33 | 12/31/2025 | 3603445 | (22855) |
| &nbsp;&nbsp;&nbsp;&nbsp;UK Emissions Trading Registry Allowance <sup>(a)</sup> | 4 | 12/15/2025 | 291115 | 24148 |
| &nbsp;&nbsp;&nbsp;&nbsp;US 3 Year Notes | 24 | 12/31/2025 | 5106000 | (23519) |
|  |  |  |  | $385468 |
|  |  |  |  | – |
| **Description** | **Contracts**<br> **Sold** | **Expiration Date** | **Notional Value** | **Value / Unrealized**<br> **Appreciation**<br> (Depreciation) |
| &nbsp;&nbsp;&nbsp;&nbsp;30 Day Federal Funds Rate | (36) | 01/30/2026 | $14454406 | $(6144) |
| &nbsp;&nbsp;&nbsp;&nbsp;Austrailian Government 10 Year Bonds | (17) | 12/15/2025 | 1277187 | 6831 |
| &nbsp;&nbsp;&nbsp;&nbsp;Canadian Dollar/US Dollar Cross Currency Rate | (15) | 12/16/2025 | 1081500 | 7221 |
| &nbsp;&nbsp;&nbsp;&nbsp;Corn No. 2 Yellow <sup>(a)</sup> | (23) | 12/12/2025 | 477825 | 13257 |
| &nbsp;&nbsp;&nbsp;&nbsp;Cotton No.2 <sup>(a)</sup> | (14) | 12/08/2025 | 460390 | 13368 |
| &nbsp;&nbsp;&nbsp;&nbsp;Euro BUXL 30 Year Bonds | (5) | 12/08/2025 | 672573 | (8477) |
| &nbsp;&nbsp;&nbsp;&nbsp;Euro-BOBL | (12) | 12/08/2025 | 1661128 | 2357 |
| &nbsp;&nbsp;&nbsp;&nbsp;Euro-Bund | (13) | 12/08/2025 | 1963916 | (2029) |
| &nbsp;&nbsp;&nbsp;&nbsp;Euro-Schatz | (21) | 12/08/2025 | 2639743 | 2767 |
| &nbsp;&nbsp;&nbsp;&nbsp;Hard Red Winter Wheat <sup>(a)</sup> | (12) | 12/12/2025 | 298650 | 16738 |
| &nbsp;&nbsp;&nbsp;&nbsp;Japanese 10 Year Government Bonds | (4) | 12/15/2025 | 3677828 | 33026 |
| &nbsp;&nbsp;&nbsp;&nbsp;Japanese Yen/US Dollar Cross Currency Rate | (14) | 12/15/2025 | 1192450 | 1998 |
| &nbsp;&nbsp;&nbsp;&nbsp;London Metals - Lead <sup>(a)</sup> | (10) | 12/15/2025 | 495493 | 2767 |
| &nbsp;&nbsp;&nbsp;&nbsp;London Metals - Nickel <sup>(a)</sup> | (5) | 12/15/2025 | 456313 | (310) |
| &nbsp;&nbsp;&nbsp;&nbsp;London Metals - Zinc <sup>(a)</sup> | (7) | 12/15/2025 | 519599 | (36091) |
| &nbsp;&nbsp;&nbsp;&nbsp;Long Gilt | (11) | 12/29/2025 | 1345234 | (6407) |
| &nbsp;&nbsp;&nbsp;&nbsp;Soybean Meal <sup>(a)</sup> | (18) | 12/12/2025 | 491940 | 38907 |
| &nbsp;&nbsp;&nbsp;&nbsp;Soybeans <sup>(a)</sup> | (10) | 11/14/2025 | 500875 | 23361 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sugar #11 <sup>(a)</sup> | (30) | 02/27/2026 | 557760 | (16618) |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury 2 Year Notes | (24) | 12/31/2025 | 5001563 | 3849 |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury Long Bonds | (7) | 12/19/2025 | 816156 | (16652) |
| &nbsp;&nbsp;&nbsp;&nbsp;Wheat <sup>(a)</sup> | (16) | 12/12/2025 | 406400 | 14718 |
|  |  |  |  | $88437 |
| **Net Unrealized Appreciation (Depreciation)** | **Net Unrealized Appreciation (Depreciation)** | **Net Unrealized Appreciation (Depreciation)** | **Net Unrealized Appreciation (Depreciation)** | $473905 |

---

(a) All or a portion of the investment is a holding of the Cambria Chesapeake Cayman Subsidiary.

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Cambria Chesapeake Pure Trend ETF** | **Cambria Chesapeake Pure Trend ETF** | **Cambria Chesapeake Pure Trend ETF** | **Cambria Chesapeake Pure Trend ETF** | **Cambria Chesapeake Pure Trend ETF** | **Cambria Chesapeake Pure Trend ETF** | **Cambria Chesapeake Pure Trend ETF** |
| **Consolidated Schedule of Forward Currency Contracts** | **Consolidated Schedule of Forward Currency Contracts** | **Consolidated Schedule of Forward Currency Contracts** | **Consolidated Schedule of Forward Currency Contracts** | **Consolidated Schedule of Forward Currency Contracts** | **Consolidated Schedule of Forward Currency Contracts** | **Consolidated Schedule of Forward Currency Contracts** |
| **September 30, 2025 (Unaudited)** | **September 30, 2025 (Unaudited)** | **September 30, 2025 (Unaudited)** | **September 30, 2025 (Unaudited)** | **September 30, 2025 (Unaudited)** | **September 30, 2025 (Unaudited)** | **September 30, 2025 (Unaudited)** |
| **Counterparty** | **Settlement Date** | **Currency Purchased** | **Currency Purchased** | **Currency Sold** | **Currency Sold** | **Unrealized**<br> **Appreciation**<br> (Depreciation) |
| StoneX Financial, Inc. | 12/17/2025 | BRL | 4486000 | USD | 817407 | $9357 |
| StoneX Financial, Inc. | 12/17/2025 | CLP | 112044000 | USD | 117693 | (1178) |
| StoneX Financial, Inc. | 12/17/2025 | CNH | 9330000 | USD | 1324062 | (7739) |
| StoneX Financial, Inc. | 10/15/2025 | COP | 4130816000 | USD | 1055206 | (2520) |
| StoneX Financial, Inc. | 12/17/2025 | CZK | 20640000 | USD | 996701 | 2093 |
| StoneX Financial, Inc. | 12/17/2025 | HUF | 294116000 | USD | 876255 | 6575 |
| StoneX Financial, Inc. | 12/17/2025 | ILS | 4224000 | USD | 1272289 | 6657 |
| StoneX Financial, Inc. | 12/17/2025 | MXN | 25859000 | USD | 1382882 | 15686 |
| StoneX Financial, Inc. | 12/17/2025 | NOK | 8048000 | USD | 814807 | (8052) |
| StoneX Financial, Inc. | 12/17/2025 | PLN | 2560000 | USD | 705380 | (685) |
| StoneX Financial, Inc. | 12/17/2025 | SEK | 7204000 | USD | 777984 | (8199) |
| StoneX Financial, Inc. | 12/17/2025 | SGD | 1205000 | USD | 947350 | (7116) |
| StoneX Financial, Inc. | 12/17/2025 | THB | 37234000 | USD | 1179933 | (23335) |
| StoneX Financial, Inc. | 10/15/2025 | TWD | 22868000 | USD | 758175 | (6931) |
| StoneX Financial, Inc. | 12/17/2025 | USD | 1758552 | CNH | 12440000 | 3456 |
| StoneX Financial, Inc. | 10/15/2025 | USD | 1081634 | IDR | 17805000000 | 13359 |
| StoneX Financial, Inc. | 12/17/2025 | USD | 547861 | INR | 49000000 | (1458) |
| StoneX Financial, Inc. | 12/17/2025 | USD | 682495 | KRW | 943486000 | 7346 |
| StoneX Financial, Inc. | 12/17/2025 | USD | 369120 | NZD | 618000 | 9150 |
| StoneX Financial, Inc. | 10/15/2025 | USD | 326039 | PHP | 19006000 | (366) |
| StoneX Financial, Inc. | 12/17/2025 | ZAR | 19108000 | USD | 1091157 | 10097 |
| **Net Unrealized Appreciation (Depreciation)** | **Net Unrealized Appreciation (Depreciation)** | **Net Unrealized Appreciation (Depreciation)** | **Net Unrealized Appreciation (Depreciation)** | **Net Unrealized Appreciation (Depreciation)** | **Net Unrealized Appreciation (Depreciation)** | $16197 |
| BRL - Brazilian Real | BRL - Brazilian Real | BRL - Brazilian Real | BRL - Brazilian Real | BRL - Brazilian Real | BRL - Brazilian Real | BRL - Brazilian Real |
| CLP - Chilean Peso | CLP - Chilean Peso | CLP - Chilean Peso | CLP - Chilean Peso | CLP - Chilean Peso | CLP - Chilean Peso | CLP - Chilean Peso |
| CNH - Chinese Offshore Renminbi | CNH - Chinese Offshore Renminbi | CNH - Chinese Offshore Renminbi | CNH - Chinese Offshore Renminbi | CNH - Chinese Offshore Renminbi | CNH - Chinese Offshore Renminbi | CNH - Chinese Offshore Renminbi |
| COP - Colombian Peso | COP - Colombian Peso | COP - Colombian Peso | COP - Colombian Peso | COP - Colombian Peso | COP - Colombian Peso | COP - Colombian Peso |
| CZK - Czech Republic Koruna | CZK - Czech Republic Koruna | CZK - Czech Republic Koruna | CZK - Czech Republic Koruna | CZK - Czech Republic Koruna | CZK - Czech Republic Koruna | CZK - Czech Republic Koruna |
| HUF - Hungarian Forint | HUF - Hungarian Forint | HUF - Hungarian Forint | HUF - Hungarian Forint | HUF - Hungarian Forint | HUF - Hungarian Forint | HUF - Hungarian Forint |
| IDR - Indonesian Rupiah | IDR - Indonesian Rupiah | IDR - Indonesian Rupiah | IDR - Indonesian Rupiah | IDR - Indonesian Rupiah | IDR - Indonesian Rupiah | IDR - Indonesian Rupiah |
| ILS - Israeli New Shekel | ILS - Israeli New Shekel | ILS - Israeli New Shekel | ILS - Israeli New Shekel | ILS - Israeli New Shekel | ILS - Israeli New Shekel | ILS - Israeli New Shekel |
| INR - Indian Rupee | INR - Indian Rupee | INR - Indian Rupee | INR - Indian Rupee | INR - Indian Rupee | INR - Indian Rupee | INR - Indian Rupee |
| KRW - South Korean Won | KRW - South Korean Won | KRW - South Korean Won | KRW - South Korean Won | KRW - South Korean Won | KRW - South Korean Won | KRW - South Korean Won |
| MXN - Mexican Peso | MXN - Mexican Peso | MXN - Mexican Peso | MXN - Mexican Peso | MXN - Mexican Peso | MXN - Mexican Peso | MXN - Mexican Peso |
| NOK - Norwegian Krone | NOK - Norwegian Krone | NOK - Norwegian Krone | NOK - Norwegian Krone | NOK - Norwegian Krone | NOK - Norwegian Krone | NOK - Norwegian Krone |
| NZD - New Zealand Dollar | NZD - New Zealand Dollar | NZD - New Zealand Dollar | NZD - New Zealand Dollar | NZD - New Zealand Dollar | NZD - New Zealand Dollar | NZD - New Zealand Dollar |
| PHP - Philippine Peso | PHP - Philippine Peso | PHP - Philippine Peso | PHP - Philippine Peso | PHP - Philippine Peso | PHP - Philippine Peso | PHP - Philippine Peso |
| PLN - Polish Zloty | PLN - Polish Zloty | PLN - Polish Zloty | PLN - Polish Zloty | PLN - Polish Zloty | PLN - Polish Zloty | PLN - Polish Zloty |
| SEK - Swedish Krona | SEK - Swedish Krona | SEK - Swedish Krona | SEK - Swedish Krona | SEK - Swedish Krona | SEK - Swedish Krona | SEK - Swedish Krona |
| SGD - Singapore Dollar | SGD - Singapore Dollar | SGD - Singapore Dollar | SGD - Singapore Dollar | SGD - Singapore Dollar | SGD - Singapore Dollar | SGD - Singapore Dollar |
| THB - Thai Baht | THB - Thai Baht | THB - Thai Baht | THB - Thai Baht | THB - Thai Baht | THB - Thai Baht | THB - Thai Baht |
| TWD - New Taiwan Dollar | TWD - New Taiwan Dollar | TWD - New Taiwan Dollar | TWD - New Taiwan Dollar | TWD - New Taiwan Dollar | TWD - New Taiwan Dollar | TWD - New Taiwan Dollar |
| USD - United States Dollar | USD - United States Dollar | USD - United States Dollar | USD - United States Dollar | USD - United States Dollar | USD - United States Dollar | USD - United States Dollar |
| ZAR - South African Rand | ZAR - South African Rand | ZAR - South African Rand | ZAR - South African Rand | ZAR - South African Rand | ZAR - South African Rand | ZAR - South African Rand |

---

------

#### Summary of Fair Value Disclosure as of September 30, 2025 (Unaudited)
Cambria Chesapeake Pure Trend ETF (the "Fund") has adopted fair value accounting standards which establish a definition of fair value and set out a hierarchy for measuring fair value. These standards require additional disclosures about the various inputs and valuation techniques used to develop the measurements of fair value, a discussion of changes in valuation techniques and related inputs during the period, and expanded disclosure of valuation levels for major security types. These inputs are summarized in the three broad levels listed below. The inputs or valuation methodology used for valuing securities are not an indication of the risk associated with investing in those securities.

Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access.

Level 2 - Observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates and similar data.

Level 3 - Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available, representing the Fund's own assumptions about the assumptions a market participant would use in valuing the asset or liability, and based on the best information available.

The following is a summary of the fair valuation hierarchy of the Fund's securities as of September 30, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **<u>Level 1</u>** | **<u>Level 2</u>** | **<u>Level 3</u>** | **<u>Total</u>** |
| **Assets:** | | | | |
| <u>Investments:</u> |  |  |  |  |
|  &nbsp;&nbsp;&nbsp;&nbsp;Common Stocks | $8313654 | $– | $– | $8313654 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Exchange Traded Funds | 173337 | – | – | 173337 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Real Estate Investment Trusts - Common | 13576 | – | – | 13576 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Money Market Funds | 8337827 | – | – | 8337827 |
| Total Investments | $16838394 | $– | $– | $16838394 |
| <u>Other Financial Instruments:</u> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Futures Contracts\* | $699141 | $– | $– | $699141 |
| &nbsp;&nbsp;&nbsp;&nbsp;Forward Currency Contracts\* | – | 83776 | – | 83776 |
| Total Other Financial Instruments | $699141 | $83776 | $– | $782917 |
| **Liabilities:** |  |  |  |  |
| <u>Investments:</u> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Common Stocks | $(2486727) | $– | $– | $(2486727) |
| Total Investments | $(2486727) | $– | $– | $(2486727) |
| <u>Other Financial Instruments:</u> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Futures Contracts\* | $(225236) | $– | $– | $(225236) |
| &nbsp;&nbsp;&nbsp;&nbsp;Forward Currency Contracts\* | – | (67579) | – | (67579) |
| Total Other Financial Instruments | $(225236) | $(67579) | $– | $(292815) |
| \* The fair value of the Fund's investment represents the unrealized appreciation (depreciation) as of September 30, 2025. | \* The fair value of the Fund's investment represents the unrealized appreciation (depreciation) as of September 30, 2025. | \* The fair value of the Fund's investment represents the unrealized appreciation (depreciation) as of September 30, 2025. | \* The fair value of the Fund's investment represents the unrealized appreciation (depreciation) as of September 30, 2025. | \* The fair value of the Fund's investment represents the unrealized appreciation (depreciation) as of September 30, 2025. |
| Refer to the Consolidated Schedule of Investments and Securities Sold Short for further disaggregation of investment categories. | Refer to the Consolidated Schedule of Investments and Securities Sold Short for further disaggregation of investment categories. | Refer to the Consolidated Schedule of Investments and Securities Sold Short for further disaggregation of investment categories. | Refer to the Consolidated Schedule of Investments and Securities Sold Short for further disaggregation of investment categories. | Refer to the Consolidated Schedule of Investments and Securities Sold Short for further disaggregation of investment categories. |

---

## 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 II

- **b. Investment Company Act file number:** 811-23793

- **c. CIK number of Registrant:** 0001924868

- **d. LEI of Registrant:** 549300BGXECFCIZF2P89

- **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:** 844-986-7700

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

- **a. Name of Series:** Cambria Chesapeake Pure Trend ETF

- **b. EDGAR series identifier (if any):** S000085073

- **c. LEI of Series:** 254900UC89DOMGNFZH93

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

- **a. Date of fiscal year-end:** 2026-06-30

- **b. Date as of which information is reported:** 2025-09-30

**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:** $24701031.94

**Total Liabilities:** $2571785.25

**Net Assets:** $22129246.69

**Amount of Assets Invested in Other Investment Companies:** $1673386.56

**Cash Not Reported:** $7802662.09

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 0.000000000000 | **1-Year:** 0.000000000000 | **5-Year:** 0.000000000000 | **10-Year:** 0.000000000000 | **30-Year:** 0.000000000000

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

- **3-Month:** -4050.540000000000 | **1-Year:** 1800.450000000000 | **5-Year:** 310.420000000000 | **10-Year:** 0.000000000000 | **30-Year:** 0.000000000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000249937 | -0.57%               | 3.37%                | 3.12%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-7355.67                | $-14145.14                                 |
| Month 2  | $-72416.54               | $44169.10                                  |
| Month 3  | $-103292.36              | $300691.02                                 |

**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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Elevance Health Inc            | Elevance Health Inc                        | CUSIP: 036752103<br>LEI: 8MYN82XMYQH89CTMTH67 | Short            | EC               | CORP              | US        |      -109 | NS      | $-35220.08    | -0.16%            |  |  |  | No            |                  1 | On Loan: No      |
| Archer-Daniels-Midland Co      | Archer-Daniels-Midland Co                  | CUSIP: 039483102<br>LEI: 549300LO13MQ9HYSTR83 | Long             | EC               | CORP              | US        |      3284 | NS      | $196186.16    | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Government Obli | First American Government Obligations Fund | CUSIP: 31846V336<br>LEI: 549300R5MYM6VZF1RM44 | Long             | STIV             | RF                | US        |   8337827 | NS      | $8337827.41   | 37.68%            |  |  |  | No            |                  1 | On Loan: No      |
| Fomento Economico Mexicano SAB | Fomento Economico Mexicano SAB de CV       | CUSIP: 344419106<br>LEI: 549300A8MDWDJNMLV153 | Short            | EC               | CORP              | MX        |      -691 | NS      | $-68153.33    | -0.31%            |  |  |  | No            |                  1 | On Loan: No      |
| General Mills Inc              | General Mills Inc                          | CUSIP: 370334104<br>LEI: 2TGYMUGI08PO8X8L6150 | Short            | EC               | CORP              | US        |     -4135 | NS      | $-208486.70   | -0.94%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | US 3YR NOTE (CBT) Dec25                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |        24 | NC      | $-23519.28    | -0.11%            |  |  |  | No            |                  1 | On Loan: No      |
| iShares Ethereum Trust ETF     | iShares Ethereum Trust ETF                 | CUSIP: 46438R105<br>LEI: 529900M7AJ6IYSU9SP67 | Long             | EC               | RF                | US        |      5501 | NS      | $173336.51    | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | EURO-SCHATZ FUT   Dec25                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | DE        |       -21 | NC      | $2766.93      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | FED FUND 30DAY    Jan26                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |       -36 | NC      | $-6143.76     | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | US 5YR NOTE (CBT) Dec25                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |        33 | NC      | $-22855.08    | -0.10%            |  |  |  | No            |                  1 | On Loan: No      |
| Arch Capital Group Ltd         | Arch Capital Group Ltd                     | CUSIP: N/A<br>LEI: 549300AYR4P8AFKDCE43       | Short            | EC               | CORP              | BM        |      -564 | NS      | $-51171.72    | -0.23%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | GOLD 100 OZ FUTR  Dec25                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |         4 | NC      | $196821.52    | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | HUF/USD FWD 20251217                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $6575.18      | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | IDR/USD FWD 20251015                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $13359.24     | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | ILS/USD FWD 20251217                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $6656.68      | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | INR/USD FWD 20251217                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $-1458.39     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | JPN 10Y BOND(OSE) Dec25                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | JP        |        -4 | NC      | $33025.99     | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | JPN YEN CURR FUT  Dec25                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |       -14 | NC      | $1997.82      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | KRW/USD FWD 20251217                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $7346.41      | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | KC HRW WHEAT FUT  Dec25                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |       -12 | NC      | $16738.20     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | LIVE CATTLE FUTR  Dec25                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |        16 | NC      | $13038.08     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | LEAN HOGS FUTURE  Dec25                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |        15 | NC      | $-3376.80     | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | LME LEAD FUTURE   Dec25                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | GB        |       -10 | NC      | $2767.10      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | LME NICKEL FUTURE Dec25                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | GB        |        -5 | NC      | $-309.99      | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | LME TIN FUTURE    Dec25                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | GB        |         2 | NC      | $7782.92      | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | LME ZINC FUTURE   Dec25                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | GB        |        -7 | NC      | $-36090.53    | -0.16%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | LME ZINC FUTURE   Dec25                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | GB        |         5 | NC      | $-1462.70     | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| ASML Holding NV                | ASML Holding NV                            | CUSIP: N/A<br>LEI: 724500Y6DUVHQD6OXN27       | Long             | EC               | CORP              | NL        |       195 | NS      | $188777.55    | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | IODEX IO FUT      Oct25                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | SG        |        53 | NC      | $10335.00     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | ICE 3MTH SONIA FU Dec27                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | GB        |         6 | NC      | $482.12       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | US 2YR NOTE (CBT) Dec25                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |       -24 | NC      | $3849.41      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | US LONG BOND(CBT) Dec25                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |        -7 | NC      | $-16652.23    | -0.08%            |  |  |  | No            |                  1 | On Loan: No      |
| Automatic Data Processing Inc  | Automatic Data Processing Inc              | CUSIP: 053015103<br>LEI: HGBOLILQXWER4SAL2I23 | Long             | EC               | CORP              | US        |      1423 | NS      | $417650.50    | 1.89%             |  |  |  | No            |                  1 | On Loan: No      |
| BHP Group Ltd                  | BHP Group Ltd                              | CUSIP: 088606108<br>LEI: WZE1WSENV6JSZFK0JC28 | Long             | EC               | CORP              | AU        |      2893 | NS      | $161284.75    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Canadian Pacific Kansas City L | Canadian Pacific Kansas City Ltd           | CUSIP: 13646K108<br>LEI: N/A                  | Short            | EC               | CORP              | CA        |       -90 | NS      | $-6704.10     | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| Cheniere Energy Inc            | Cheniere Energy Inc                        | CUSIP: 16411R208<br>LEI: MIHC87W9WTYSYZWV1J40 | Long             | EC               | CORP              | US        |      1570 | NS      | $368918.60    | 1.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Cisco Systems Inc              | Cisco Systems Inc                          | CUSIP: 17275R102<br>LEI: 549300LKFJ962MZ46593 | Long             | EC               | CORP              | US        |      5843 | NS      | $399778.06    | 1.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Conagra Brands Inc             | Conagra Brands Inc                         | CUSIP: 205887102<br>LEI: 54930035UDEIH090K650 | Short            | EC               | CORP              | US        |     -9637 | NS      | $-176453.47   | -0.80%            |  |  |  | No            |                  1 | On Loan: No      |
| Constellation Brands Inc       | Constellation Brands Inc                   | CUSIP: 21036P108<br>LEI: 5493005GKEG8QCVY7037 | Short            | EC               | CORP              | US        |     -1259 | NS      | $-169549.53   | -0.77%            |  |  |  | No            |                  1 | On Loan: No      |
| Corteva Inc                    | Corteva Inc                                | CUSIP: 22052L104<br>LEI: 549300WZN9I2QKLS0O94 | Long             | EC               | CORP              | US        |      4503 | NS      | $304537.89    | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| DR Horton Inc                  | DR Horton Inc                              | CUSIP: 23331A109<br>LEI: 529900ZIUEYVSB8QDD25 | Long             | EC               | CORP              | US        |       628 | NS      | $106427.16    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Deere & Co                     | Deere & Co                                 | CUSIP: 244199105<br>LEI: PWFTNG3EI0Y73OXWDH08 | Long             | EC               | CORP              | US        |       646 | NS      | $295389.96    | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Dow Inc                        | Dow Inc                                    | CUSIP: 260557103<br>LEI: 5493003S21INSLK2IP73 | Short            | EC               | CORP              | US        |     -5015 | NS      | $-114993.95   | -0.52%            |  |  |  | No            |                  1 | On Loan: No      |
| Edwards Lifesciences Corp      | Edwards Lifesciences Corp                  | CUSIP: 28176E108<br>LEI: YA13X31F3V31L8TMPR58 | Long             | EC               | CORP              | US        |      3238 | NS      | $251819.26    | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Electronic Arts Inc            | Electronic Arts Inc                        | CUSIP: 285512109<br>LEI: 549300O7A67PUEYKDL45 | Long             | EC               | CORP              | US        |      1081 | NS      | $218037.70    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Equinor ASA                    | Equinor ASA                                | CUSIP: 29446M102<br>LEI: OW6OFBNCKXC4US5C7523 | Long             | EC               | CORP              | NO        |      6072 | NS      | $148035.36    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Kraft Heinz Co/The             | Kraft Heinz Co/The                         | CUSIP: 500754106<br>LEI: 9845007488EC87F5AF14 | Short            | EC               | CORP              | US        |     -6902 | NS      | $-179728.08   | -0.81%            |  |  |  | No            |                  1 | On Loan: No      |
| Li Auto Inc                    | Li Auto Inc                                | CUSIP: 50202M102<br>LEI: 2549003R73Q70J5H4I65 | Long             | EC               | CORP              | CN        |      2253 | NS      | $57091.02     | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Martin Marietta Materials Inc  | Martin Marietta Materials Inc              | CUSIP: 573284106<br>LEI: 5299005MZ4WZECVATV08 | Long             | EC               | CORP              | US        |       372 | NS      | $234464.16    | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Merck & Co Inc                 | Merck & Co Inc                             | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Short            | EC               | CORP              | US        |     -2517 | NS      | $-211251.81   | -0.95%            |  |  |  | No            |                  1 | On Loan: No      |
| Microchip Technology Inc       | Microchip Technology Inc                   | CUSIP: 595017104<br>LEI: 5493007PTFULNYZJ1R12 | Long             | EC               | CORP              | US        |       505 | NS      | $32431.10     | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Micron Technology Inc          | Micron Technology Inc                      | CUSIP: 595112103<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | EC               | CORP              | US        |      1245 | NS      | $208313.40    | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Newmont Corp                   | Newmont Corp                               | CUSIP: 651639106<br>LEI: 549300VSP3RIX7FGDZ51 | Long             | EC               | CORP              | US        |      3124 | NS      | $263384.44    | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| NextEra Energy Inc             | NextEra Energy Inc                         | CUSIP: 65339F101<br>LEI: 254900RHL9MEUS5NKX63 | Long             | EC               | CORP              | US        |       715 | NS      | $53975.35     | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Northrop Grumman Corp          | Northrop Grumman Corp                      | CUSIP: 666807102<br>LEI: RIMU48P07456QXSO0R61 | Long             | EC               | CORP              | US        |       541 | NS      | $329642.12    | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Nucor Corp                     | Nucor Corp                                 | CUSIP: 670346105<br>LEI: 549300GGJCRSI2TIEJ46 | Long             | EC               | CORP              | US        |       642 | NS      | $86946.06     | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA Corp                    | NVIDIA Corp                                | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |      1794 | NS      | $334724.52    | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Nutrien Ltd                    | Nutrien Ltd                                | CUSIP: 67077M108<br>LEI: 5493002QQ7GD21OWF963 | Long             | EC               | CORP              | CA        |      3025 | NS      | $177597.75    | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Paychex Inc                    | Paychex Inc                                | CUSIP: 704326107<br>LEI: 529900K900DW6SUBM174 | Short            | EC               | CORP              | US        |     -1929 | NS      | $-244520.04   | -1.10%            |  |  |  | No            |                  1 | On Loan: No      |
| PepsiCo Inc                    | PepsiCo Inc                                | CUSIP: 713448108<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Short            | EC               | CORP              | US        |     -1963 | NS      | $-275683.72   | -1.25%            |  |  |  | No            |                  1 | On Loan: No      |
| Public Storage                 | Public Storage                             | CUSIP: 74460D109<br>LEI: 254900GLQZAD4N7N5Q19 | Long             | EC               | CORP              | US        |        47 | NS      | $13575.95     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Rio Tinto PLC                  | Rio Tinto PLC                              | CUSIP: 767204100<br>LEI: 213800YOEO5OQ72G2R82 | Long             | EC               | CORP              | GB        |      3683 | NS      | $243114.83    | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Roper Technologies Inc         | Roper Technologies Inc                     | CUSIP: 776696106<br>LEI: 54930003T4SXCIWVXY35 | Short            | EC               | CORP              | US        |      -502 | NS      | $-250342.38   | -1.13%            |  |  |  | No            |                  1 | On Loan: No      |
| Sanofi SA                      | Sanofi SA                                  | CUSIP: 80105N105<br>LEI: 549300E9PC51EN656011 | Long             | EC               | CORP              | FR        |      1062 | NS      | $50126.40     | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Sempra                         | Sempra                                     | CUSIP: 816851109<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | EC               | CORP              | US        |      1397 | NS      | $125702.06    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Snowflake Inc                  | Snowflake Inc                              | CUSIP: 833445109<br>LEI: 254900CJNSY1K7T53Z16 | Long             | EC               | CORP              | US        |       796 | NS      | $179537.80    | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Sony Group Corp                | Sony Group Corp                            | CUSIP: 835699307<br>LEI: 529900R5WX9N2OI2N910 | Long             | EC               | CORP              | JP        |      9642 | NS      | $277593.18    | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Sony Financial Group Inc       | Sony Financial Group Inc                   | CUSIP: 83571B100<br>LEI: 353800O7BDSU41WOZA60 | Long             | EC               | CORP              | JP        |      1928 | NS      | $1427.02      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Suncor Energy Inc              | Suncor Energy Inc                          | CUSIP: 867224107<br>LEI: 549300W70ZOQDVLCHY06 | Long             | EC               | CORP              | CA        |      5678 | NS      | $237397.18    | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Tesla Inc                      | Tesla Inc                                  | CUSIP: 88160R101<br>LEI: 54930043XZGB27CTOV49 | Long             | EC               | CORP              | US        |       382 | NS      | $169883.04    | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| United Rentals Inc             | United Rentals Inc                         | CUSIP: 911363109<br>LEI: 5323X5O7RN0NKFCDRY08 | Long             | EC               | CORP              | US        |       177 | NS      | $168974.82    | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Vale SA                        | Vale SA                                    | CUSIP: 91912E105<br>LEI: 254900SMTWBX7RU2SR20 | Long             | EC               | CORP              | BR        |     18066 | NS      | $196196.76    | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | AUDUSD Crncy Fut  Dec25                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         6 | NC      | $-2462.72     | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | SOYBEAN OIL FUTR  Dec25                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |         9 | NC      | $-22840.35    | -0.10%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | BP CURRENCY FUT   Dec25                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |        11 | NC      | $-9091.45     | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | BRL/USD FWD 20251217                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $9357.31      | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Short Euro-BTP Fu Dec25                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | DE        |        63 | NC      | $-2803.02     | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | C$ CURRENCY FUT   Dec25                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |       -15 | NC      | $7220.70      | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | CLP/USD FWD 20251217                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $-1177.28     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | CNH/USD FWD 20251217                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $-7739.00     | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | CNH/USD FWD 20251217                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $3455.66      | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | COP/USD FWD 20251015                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $-2520.09     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | 3M CORRA Futures  Dec26                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | CA        |        69 | NC      | $4051.49      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | 3MO EURO EURIBOR  Dec27                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | GB        |        41 | NC      | $1994.23      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | CATTLE FEEDER FUT Nov25                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |         7 | NC      | $5389.16      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | LONG GILT FUTURE  Dec25                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | GB        |       -11 | NC      | $-6406.61     | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | COPPER FUTURE     Dec25                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |         1 | NC      | $8057.88      | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | NY Harb ULSD Fut  Nov25                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |         4 | NC      | $-4201.28     | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | 90-DAY BANK BILL  Jun26                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | AU        |        74 | NC      | $-23787.26    | -0.11%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | COFFEE 'C' FUTURE Dec25                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |         3 | NC      | $81603.39     | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | MXN/USD FWD 20251217                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $15686.19     | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | NOK/USD FWD 20251217                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $-8051.99     | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | NZD/USD FWD 20251217                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $9149.76      | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | PALLADIUM FUTURE  Dec25                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |         2 | NC      | $36470.76     | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | PHP/USD FWD 20251015                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $-365.78      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | PLATINUM FUTURE   Jan26                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |         7 | NC      | $917.67       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | PLN/USD FWD 20251217                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $-684.99      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Low Su Gasoil G   Nov25                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | GB        |         5 | NC      | $-6519.40     | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | SOYBEAN FUTURE    Nov25                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |       -10 | NC      | $23361.00     | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | SUGAR #11 (WORLD) Mar26                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |       -30 | NC      | $-16617.60    | -0.08%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | SEK/USD FWD 20251217                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $-8199.11     | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | 3 MONTH SOFR FUT  Dec27                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |        54 | NC      | $5844.42      | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | CHF CURRENCY FUT  Dec25                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         5 | NC      | $-1991.85     | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | SGD/USD FWD 20251217                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $-7116.16     | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | SILVER FUTURE     Dec25                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |         3 | NC      | $111361.14    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | SOYBEAN MEAL FUTR Dec25                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |       -18 | NC      | $38907.30     | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | Three-Month SARON Dec26                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | GB        |        57 | NC      | $-2902.23     | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | THB/USD FWD 20251217                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $-23740.33    | -0.11%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | TWD/USD FWD 20251015                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $-6930.98     | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | US 10YR NOTE (CBT)Dec25                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |        19 | NC      | $-18135.78    | -0.08%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | UK Emiss Allow Fu Dec25                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DO               |  | GB        |         4 | NC      | $24147.68     | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | USD/ZAR FWD 20251217                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $10096.72     | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | WHEAT FUTURE(CBT) Dec25                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |       -16 | NC      | $14717.60     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | AUST 10Y BOND FUT Dec25                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | AU        |       -17 | NC      | $6830.93      | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Vulcan Materials Co            | Vulcan Materials Co                        | CUSIP: 929160109<br>LEI: 549300Q8LSNHAVWBNI21 | Long             | EC               | CORP              | US        |       927 | NS      | $285163.74    | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Yum! Brands Inc                | Yum! Brands Inc                            | CUSIP: 988498101<br>LEI: 549300JE8XHZZ7OHN517 | Long             | EC               | CORP              | US        |      1517 | NS      | $230584.00    | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Zimmer Biomet Holdings Inc     | Zimmer Biomet Holdings Inc                 | CUSIP: 98956P102<br>LEI: 2P2YLDVPES3BXQ1FRB91 | Short            | EC               | CORP              | US        |     -2153 | NS      | $-212070.50   | -0.96%            |  |  |  | No            |                  1 | On Loan: No      |
| Zoetis Inc                     | Zoetis Inc                                 | CUSIP: 98978V103<br>LEI: 549300HD9Q1LOC9KLJ48 | Short            | EC               | CORP              | US        |     -1930 | NS      | $-282397.60   | -1.28%            |  |  |  | No            |                  1 | On Loan: No      |
| Abbott Laboratories            | Abbott Laboratories                        | CUSIP: 002824100<br>LEI: HQD377W2YR662HK5JX27 | Long             | EC               | CORP              | US        |      2913 | NS      | $390167.22    | 1.76%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | CORN FUTURE       Dec25                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |       -23 | NC      | $13256.55     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | COTTON NO.2 FUTR  Dec25                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |       -14 | NC      | $13368.32     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | CZK/USD FWD 20251217                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $2092.95      | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | EURO FX CURR FUT  Dec25                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         7 | NC      | $-644.84      | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | Euro-BTP Future   Dec25                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | DE        |         7 | NC      | $4006.70      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | CRUDE PALM OIL FU Dec25                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | MY        |        15 | NC      | $-6842.94     | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | ECX EMISSION      Dec25                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DO               |  | NL        |         2 | NC      | $-2858.86     | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | EURO-BOBL FUTURE  Dec25                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | DE        |       -12 | NC      | $2356.60      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | EURO-BUND FUTURE  Dec25                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | DE        |       -13 | NC      | $-2029.53     | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | EURO-BUXL 30Y BND Dec25                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | DE        |        -5 | NC      | $-8476.88     | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| Advanced Micro Devices Inc     | Advanced Micro Devices Inc                 | CUSIP: 007903107<br>LEI: R2I72C950HOYXII45366 | Long             | EC               | CORP              | US        |       783 | NS      | $126681.57    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| American Water Works Co Inc    | American Water Works Co Inc                | CUSIP: 030420103<br>LEI: 549300DXHIJQMD5WFW18 | Long             | EC               | CORP              | US        |      1246 | NS      | $173430.74    | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple Inc                      | Apple Inc                                  | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |       386 | NS      | $98287.18     | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Airbus SE                      | Airbus SE                                  | CUSIP: N/A<br>LEI: MINO79WLOO247M1IL051       | Long             | EC               | CORP              | FR        |      1101 | NS      | $255372.59    | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Air Liquide SA                 | Air Liquide SA                             | CUSIP: N/A<br>LEI: 969500MMPQVHK671GT54       | Long             | EC               | CORP              | FR        |      1031 | NS      | $214253.59    | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-11-25

**Name of Applicant:** Tidal Trust II

**Signature:** /s/ Aaron Perkovich

**Name of Signer:** Aaron Perkovich

**Title:** Treasurer/Principal Financial Officer