# EDGAR Filing Document

**Accession Number:** 0001742912
**File Stem:** 0002000324-25-003153
**Filing Date:** 2025-8
**Character Count:** 27989
**Document Hash:** 0dd25b3c8c7d7e424cf298692520ff14
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002000324-25-003153.hdr.sgml**: 20250826

**ACCESSION NUMBER**: 0002000324-25-003153

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250826

**DATE AS OF CHANGE**: 20250826

**PERIOD START**: 20260331

**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:** 251257837

**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
- **DATE OF NAME CHANGE:** 20180606

## Series and Classes Contracts Data

### SonicShares Global Shipping ETF (Series ID: S000072647)

| Class ID   | Class Name                      | Ticker Symbol   |
|:---|:---|:---|
| C000229056 | SonicShares Global Shipping ETF | BOAT            |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **SonicShares Global Shipping ETF** | **SonicShares Global Shipping ETF** | **SonicShares Global Shipping ETF** |
| **Schedule of Investments** | **Schedule of Investments** | **Schedule of Investments** |
| **June 30, 2025 (Unaudited)** | **June 30, 2025 (Unaudited)** | **June 30, 2025 (Unaudited)** |
| **COMMON STOCKS - 97.8%** | **Shares** | **Value** |
| **Transportation - 97.8%<sup>(a)</sup>** | **Transportation - 97.8%<sup>(a)</sup>** | |
| 2020 Bulkers Ltd. | 9666 | $108889 |
| AP Moller - Maersk AS - Class B | 982 | 1819291 |
| Ardmore Shipping Corp. | 16882 | 162067 |
| COSCO SHIPPING Energy Transportation Co. Ltd. - Class H | 547733 | 454235 |
| COSCO SHIPPING Holdings Co. Ltd. - Class H | 1076848 | 1871109 |
| Costamare Bulkers Holdings Ltd. <sup>(b)</sup> | 59569 | 516463 |
| Costamare, Inc. | 50700 | 461877 |
| d'Amico International Shipping SA | 53173 | 215089 |
| Danaos Corp. | 7850 | 676984 |
| DHT Holdings, Inc. | 67857 | 733534 |
| Dorian LPG Ltd. | 18024 | 439425 |
| FLEX LNG Ltd. | 23832 | 528700 |
| Frontline PLC <sup>(c)</sup> | 79702 | 1307910 |
| Genco Shipping & Trading Ltd. | 18329 | 239560 |
| Global Ship Lease, Inc. - Class A | 15048 | 395913 |
| Golden Ocean Group Ltd. | 84537 | 624439 |
| Hafnia Ltd. | 273766 | 1369953 |
| Hapag-Lloyd AG (Acquired 9/14/2022 - 1/8/2025, Cost $954,619) <sup>(d)(e)</sup> | 8355 | 1245551 |
| Heung-A Shipping Co. Ltd. <sup>(b)</sup> | 99269 | 127543 |
| HMM Co. Ltd. | 113635 | 1894478 |
| Hoegh Autoliners ASA | 80626 | 710279 |
| International Seaways, Inc. | 20852 | 760681 |
| Kawasaki Kisen Kaisha Ltd. | 125649 | 1778023 |
| Matson, Inc. | 12891 | 1435413 |
| Mitsui OSK Lines Ltd. | 53302 | 1778640 |
| MPC Container Ships ASA | 187522 | 295930 |
| Navigator Holdings Ltd. <sup>(c)</sup> | 29272 | 414199 |
| Nordic American Tankers Ltd. | 89493 | 235367 |
| NS United Kaiun Kaisha Ltd. | 10131 | 274237 |
| Okeanis Eco Tankers Corp. (Acquired 10/17/2023 - 3/25/2025, Cost $308,125) <sup>(c)(d)(e)</sup> | 13983 | 300533 |
| Orient Overseas International Ltd. | 110455 | 1877031 |
| Pacific Basin Shipping Ltd. | 2150335 | 553335 |
| Pan Ocean Co. Ltd. | 225927 | 621902 |
| Pangaea Logistics Solutions Ltd. | 28149 | 132300 |
| Safe Bulkers, Inc. | 43299 | 156309 |
| Scorpio Tankers, Inc. <sup>(c)</sup> | 21561 | 843682 |
| SFL Corp. Ltd. <sup>(c)</sup> | 61382 | 511312 |
| SITC International Holdings Co. Ltd. | 559026 | 1791020 |
| Star Bulk Carriers Corp. <sup>(c)</sup> | 49502 | 853909 |
| Stolt-Nielsen Ltd. | 29259 | 740171 |
| Teekay Corp. Ltd. | 35316 | 291357 |
| Teekay Tankers Ltd. | 12622 | 526590 |
| TORM PLC - Class A | 41308 | 693796 |
| TS Lines Ltd. | 703697 | 767343 |
| Tsakos Energy Navigation Ltd. | 12733 | 244346 |
| Wallenius Wilhelmsen ASA | 180861 | 1479816 |
| ZIM Integrated Shipping Services Ltd. <sup>(c)</sup> | 50909 | 819126 |
| **TOTAL COMMON STOCKS (Cost $35,458,280)** |  | 36079657 |
| **SHORT-TERM INVESTMENTS - 14.5%** | **Units** |  |
| **Investments Purchased with Proceeds from Securities Lending - 12.6%** |  |  |
| Mount Vernon Liquid Assets Portfolio, LLC, 4.50% <sup>(f)</sup> | 4639953 | 4639953 |
| **Money Market Funds - 1.9%** | **Shares** |  |
| First American Government Obligations Fund - Class X, 4.25% <sup>(f)</sup> | 686569 | 686569 |
| **TOTAL SHORT-TERM INVESTMENTS (Cost $5,326,522)** |  | 5326522 |
| **TOTAL INVESTMENTS - 112.3% (Cost $40,784,802)** |  | 41406179 |
| Liabilities in Excess of Other Assets - (12.3)% |  | (4519108) |
| **TOTAL NET ASSETS - 100.0%** |  | $36887071 |
| two |  | –% |
| Percentages are stated as a percent of net assets. |  | –% |

---

---

| |
|:---|
| ASA - Advanced Subscription Agreement |
| LLC - Limited Liability Company |
| PLC - Public Limited Company |

---

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

(b) Non-income producing security.

(c) All or a portion of this security is on loan as of June 30, 2025. The fair value of these securities was $4,411,249.

(d) Security considered restricted. The total market value of these securities was $1,546,084 which represented 4.2% of net assets as of June 30, 2025.

(e) Security is exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may only be resold in transactions exempt from registration to qualified institutional investors. As of June 30, 2025, the value of these securities total $1,546,084 or 4.2% of the Fund's net assets.

(f) The rate shown represents the 7-day annualized effective yield as of June 30, 2025.

**Summary of Fair Value Disclosure as of June 30, 2025 (Unaudited)**

SonicShares Global Shipping 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 June 30, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **<u>Level 1</u>** | **<u>Level 2</u>** | **<u>Level 3</u>** | **<u>Total</u>** |
| <u>Investments:</u> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Common Stocks | $36079657 | $– | $– | $36079657 |
| &nbsp;&nbsp;&nbsp;&nbsp;Investments Purchased with Proceeds from Securities Lending<sup>(a)</sup> |  |  |  | 4639953 |
| &nbsp;&nbsp;&nbsp;&nbsp;Money Market Funds | 686569 | – | – | 686569 |
| Total Investments | $36766226 | $– | $– | $41406179 |
| Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. |

---

(a) Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amount of $4,639,953 presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts listed in the Schedule of Investments.

## 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:** Sonicshares Global Shipping ETF

- **b. EDGAR series identifier (if any):** S000072647

- **c. LEI of Series:** 549300RL3DFXPYRAMF71

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

- **a. Date of fiscal year-end:** 2026-03-31

- **b. Date as of which information is reported:** 2025-06-30

**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:** $42389164.88

**Total Liabilities:** $5501978.95

**Net Assets:** $36887185.93

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000229056 | 0.21%                | 11.34%               | -0.64%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $27148.82                | $-9750.71                                  |
| Month 2  | $-2225.13                | $2932229.77                                |
| Month 3  | $-840522.67              | $485292.09                                 |

**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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| 2020 Bulkers Ltd                          | 2020 Bulkers Ltd                            | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | BM        |      9666 | NS      | $108889.00    | 0.30%             |  |  |  | No            | 1                  | On Loan: No      |
| AP Moller - Maersk A/S                    | AP Moller - Maersk A/S                      | CUSIP: N/A<br>LEI: 549300D2K6PKKKXVNN73       | Long             | EC               | CORP              | DK        |       982 | NS      | $1819291.04   | 4.93%             |  |  |  | No            | 1                  | On Loan: No      |
| Ardmore Shipping Corp                     | Ardmore Shipping Corp                       | CUSIP: N/A<br>LEI: 549300J8HD7K6BHD8O28       | Long             | EC               | CORP              | IE        |     16882 | NS      | $162067.20    | 0.44%             |  |  |  | No            | 1                  | On Loan: No      |
| COSCO SHIP ENGY                           | COSCO SHIPPING Energy Transportation Co Ltd | CUSIP: N/A<br>LEI: 529900IGB8FVHRCR1W95       | Long             | EC               | CORP              | CN        |    547733 | NS      | $454234.63    | 1.23%             |  |  |  | No            | 1                  | On Loan: No      |
| COSCO SHIPPING Holdings Co Ltd            | COSCO SHIPPING Holdings Co Ltd              | CUSIP: N/A<br>LEI: 3003009XI0QGYYA29S17       | Long             | EC               | CORP              | CN        |   1076848 | NS      | $1871109.14   | 5.07%             |  |  |  | No            | 1                  | On Loan: No      |
| Costamare Bulkers Holdings Ltd            | Costamare Bulkers Holdings Ltd              | CUSIP: N/A<br>LEI: 529900XOR3ESNE5WKB78       | Long             | EC               | CORP              | MC        |     59569 | NS      | $516463.23    | 1.40%             |  |  |  | No            | 1                  | On Loan: No      |
| Costamare Inc                             | Costamare Inc                               | CUSIP: N/A<br>LEI: 5299003L6NPTZ25LN818       | Long             | EC               | CORP              | MC        |     50700 | NS      | $461877.00    | 1.25%             |  |  |  | No            | 1                  | On Loan: No      |
| d'Amico International Shipping            | d'Amico International Shipping SA           | CUSIP: N/A<br>LEI: 2221005IWV4R4EP4D553       | Long             | EC               | CORP              | LU        |     53173 | NS      | $215088.81    | 0.58%             |  |  |  | No            | 1                  | On Loan: No      |
| Danaos Corp                               | Danaos Corp                                 | CUSIP: N/A<br>LEI: 734IM3DNDNT36T7YTD24       | Long             | EC               | CORP              | GR        |      7850 | NS      | $676984.00    | 1.84%             |  |  |  | No            | 1                  | On Loan: No      |
| DHT Holdings Inc                          | DHT Holdings Inc                            | CUSIP: N/A<br>LEI: 549300SMD6IVZYT74K40       | Long             | EC               | CORP              | BM        |     67857 | NS      | $733534.17    | 1.99%             |  |  |  | No            | 1                  | On Loan: No      |
| Dorian LPG Ltd                            | Dorian LPG Ltd                              | CUSIP: N/A<br>LEI: 549300WP1W2WGMC7F395       | Long             | EC               | CORP              | US        |     18024 | NS      | $439425.12    | 1.19%             |  |  |  | No            | 1                  | On Loan: No      |
| First American Government Obli            | First American Government Obligations Fund  | CUSIP: 31846V336<br>LEI: 549300R5MYM6VZF1RM44 | Long             | STIV             | RF                | US        |    542638 | NS      | $542638.27    | 1.47%             |  |  |  | No            | 1                  | On Loan: No      |
| FLEX LNG Ltd                              | FLEX LNG Ltd                                | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | BM        |     23832 | NS      | $528699.86    | 1.43%             |  |  |  | No            | 1                  | On Loan: No      |
| Frontline PLC                             | Frontline PLC                               | CUSIP: N/A<br>LEI: 5493004BCIKYU1YL3H63       | Long             | EC               | CORP              | NO        |     79702 | NS      | $1307909.82   | 3.55%             |  |  |  | No            | 1                  | On Loan: —       |
| Genco Shipping & Trading Ltd              | Genco Shipping & Trading Ltd                | CUSIP: N/A<br>LEI: 5493003MBZ5GU8QHXZ58       | Long             | EC               | CORP              | US        |     18329 | NS      | $239560.03    | 0.65%             |  |  |  | No            | 1                  | On Loan: No      |
| Global Ship Lease Inc                     | Global Ship Lease Inc                       | CUSIP: N/A<br>LEI: 254900GLZ0J5N8UZM071       | Long             | EC               | CORP              | GB        |     15048 | NS      | $395912.88    | 1.07%             |  |  |  | No            | 1                  | On Loan: No      |
| Golden Ocean Group Ltd                    | Golden Ocean Group Ltd                      | CUSIP: N/A<br>LEI: 549300HQH91CZG0OJL61       | Long             | EC               | CORP              | NO        |     84537 | NS      | $624439.53    | 1.69%             |  |  |  | No            | 1                  | On Loan: No      |
| Hafnia Ltd                                | Hafnia Ltd                                  | CUSIP: N/A<br>LEI: 5493001KCFT0SCGJ2647       | Long             | EC               | CORP              | SG        |    273766 | NS      | $1369952.69   | 3.71%             |  |  |  | No            | 1                  | On Loan: No      |
| Hapag-Lloyd AG                            | Hapag-Lloyd AG                              | CUSIP: N/A<br>LEI: HD52L5PJVBXJUUX8I539       | Long             | EC               | CORP              | DE        |      8355 | NS      | $1245551.12   | 3.38%             |  |  |  | No            | 1                  | On Loan: No      |
| Heung-A Shipping Co Ltd                   | Heung-A Shipping Co Ltd                     | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | KR        |     99269 | NS      | $127543.31    | 0.35%             |  |  |  | No            | 1                  | On Loan: No      |
| HMM Co Ltd                                | HMM Co Ltd                                  | CUSIP: N/A<br>LEI: 988400M8Q35QDZ4XXW80       | Long             | EC               | CORP              | KR        |    113635 | NS      | $1894477.99   | 5.14%             |  |  |  | No            | 1                  | On Loan: No      |
| Hoegh Autoliners ASA                      | Hoegh Autoliners ASA                        | CUSIP: N/A<br>LEI: 549300D7GNMPKTA4HD46       | Long             | EC               | CORP              | NO        |     80626 | NS      | $710278.75    | 1.93%             |  |  |  | No            | 1                  | On Loan: No      |
| International Seaways Inc                 | International Seaways Inc                   | CUSIP: N/A<br>LEI: 549300YUFDGFRNGBWF46       | Long             | EC               | CORP              | US        |     20852 | NS      | $760680.96    | 2.06%             |  |  |  | No            | 1                  | On Loan: No      |
| Kawasaki Kisen Kaisha Ltd                 | Kawasaki Kisen Kaisha Ltd                   | CUSIP: N/A<br>LEI: 353800FL04R73DS5P870       | Long             | EC               | CORP              | JP        |    125649 | NS      | $1778023.16   | 4.82%             |  |  |  | No            | 1                  | On Loan: No      |
| Matson Inc                                | Matson Inc                                  | CUSIP: 57686G105<br>LEI: 549300OI5H3Y0I9I4I12 | Long             | EC               | CORP              | US        |     12891 | NS      | $1435412.85   | 3.89%             |  |  |  | No            | 1                  | On Loan: No      |
| Mitsui OSK Lines Ltd                      | Mitsui OSK Lines Ltd                        | CUSIP: N/A<br>LEI: 353800P8O843TMAZ6S09       | Long             | EC               | CORP              | JP        |     53302 | NS      | $1778639.90   | 4.82%             |  |  |  | No            | 1                  | On Loan: No      |
| Mount Vernon Liquid Assets Portfolio, LLC | Mount Vernon Liquid Assets Portfolio, LLC   | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | PF                | US        |   4639953 | NS      | $4639953.00   | 12.58%            |  |  |  | No            | N/A                | On Loan: No      |
| MPC Container Ships ASA                   | MPC Container Ships ASA                     | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | NO        |    187522 | NS      | $295930.35    | 0.80%             |  |  |  | No            | 1                  | On Loan: No      |
| Navigator Holdings Ltd                    | Navigator Holdings Ltd                      | CUSIP: N/A<br>LEI: 213800H7RVOFYARK2W19       | Long             | EC               | CORP              | US        |     29272 | NS      | $414198.80    | 1.12%             |  |  |  | No            | 1                  | On Loan: —       |
| Nordic American Tankers Ltd               | Nordic American Tankers Ltd                 | CUSIP: N/A<br>LEI: 213800W4T8AMPKIPIU94       | Long             | EC               | CORP              | NO        |     89493 | NS      | $235366.59    | 0.64%             |  |  |  | No            | 1                  | On Loan: No      |
| NS United Kaiun Kaisha Ltd                | NS United Kaiun Kaisha Ltd                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | JP        |     10131 | NS      | $274237.32    | 0.74%             |  |  |  | No            | 1                  | On Loan: No      |
| Okeanis Eco Tankers Corp                  | Okeanis Eco Tankers Corp                    | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | MH        |     13983 | NS      | $300532.87    | 0.81%             |  |  |  | No            | 1                  | On Loan: —       |
| OOIL                                      | Orient Overseas International Ltd           | CUSIP: N/A<br>LEI: 529900DQ426GJO276W95       | Long             | EC               | CORP              | HK        |    110455 | NS      | $1877031.46   | 5.09%             |  |  |  | No            | 1                  | On Loan: No      |
| Pacific Basin Shipping Ltd                | Pacific Basin Shipping Ltd                  | CUSIP: N/A<br>LEI: 254900LNPK737X4Y3V26       | Long             | EC               | CORP              | HK        |   2150335 | NS      | $553334.61    | 1.50%             |  |  |  | No            | 1                  | On Loan: No      |
| Pan Ocean Co Ltd                          | Pan Ocean Co Ltd                            | CUSIP: N/A<br>LEI: 988400HGOJIHDWPIAT45       | Long             | EC               | CORP              | KR        |    225927 | NS      | $621901.90    | 1.69%             |  |  |  | No            | 1                  | On Loan: No      |
| Pangaea Logistics Solutions Lt            | Pangaea Logistics Solutions Ltd             | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     28149 | NS      | $132300.30    | 0.36%             |  |  |  | No            | 1                  | On Loan: No      |
| Safe Bulkers Inc                          | Safe Bulkers Inc                            | CUSIP: N/A<br>LEI: 549300V6ZM2HJJYQQO85       | Long             | EC               | CORP              | MC        |     43299 | NS      | $156309.39    | 0.42%             |  |  |  | No            | 1                  | On Loan: No      |
| Scorpio Tankers Inc                       | Scorpio Tankers Inc                         | CUSIP: N/A<br>LEI: 549300NVJUH16NXG8K87       | Long             | EC               | CORP              | MC        |     21561 | NS      | $843681.93    | 2.29%             |  |  |  | No            | 1                  | On Loan: —       |
| SFL Corp Ltd                              | SFL Corp Ltd                                | CUSIP: N/A<br>LEI: 549300RLYYPSB0C7RH77       | Long             | EC               | CORP              | NO        |     61382 | NS      | $511312.06    | 1.39%             |  |  |  | No            | 1                  | On Loan: —       |
| SITC International Holdings Co            | SITC International Holdings Co Ltd          | CUSIP: N/A<br>LEI: 529900JUV4MOM9CE3V12       | Long             | EC               | CORP              | HK        |    559026 | NS      | $1791019.61   | 4.86%             |  |  |  | No            | 1                  | On Loan: No      |
| Star Bulk Carriers Corp                   | Star Bulk Carriers Corp                     | CUSIP: N/A<br>LEI: 549300SO3FMK7H6DDY54       | Long             | EC               | CORP              | GR        |     49502 | NS      | $853909.50    | 2.31%             |  |  |  | No            | 1                  | On Loan: —       |
| Stolt-Nielsen Ltd                         | Stolt-Nielsen Ltd                           | CUSIP: N/A<br>LEI: 213800VZX4LWJSGRLR94       | Long             | EC               | CORP              | GB        |     29259 | NS      | $740170.56    | 2.01%             |  |  |  | No            | 1                  | On Loan: No      |
| Teekay Corp Ltd                           | Teekay Corp Ltd                             | CUSIP: N/A<br>LEI: YHKQM2RIPKZYOZ6RVZ46       | Long             | EC               | CORP              | BM        |     35316 | NS      | $291357.00    | 0.79%             |  |  |  | No            | 1                  | On Loan: No      |
| Teekay Tankers Ltd                        | Teekay Tankers Ltd                          | CUSIP: N/A<br>LEI: 549300DE8ZAIYS2T6Q22       | Long             | EC               | CORP              | CA        |     12622 | NS      | $526589.84    | 1.43%             |  |  |  | No            | 1                  | On Loan: No      |
| TORM PLC                                  | TORM PLC                                    | CUSIP: N/A<br>LEI: 213800VL1H1ABVM1ZF63       | Long             | EC               | CORP              | GB        |     41308 | NS      | $693796.06    | 1.88%             |  |  |  | No            | 1                  | On Loan: No      |
| TS Lines Ltd                              | TS Lines Ltd                                | CUSIP: N/A<br>LEI: 8368006B8C0EXQ2JDM96       | Long             | EC               | CORP              | HK        |    703697 | NS      | $767343.48    | 2.08%             |  |  |  | No            | 1                  | On Loan: No      |
| Tsakos Energy Navigation Ltd              | Tsakos Energy Navigation Ltd                | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | BM        |     12733 | NS      | $244346.27    | 0.66%             |  |  |  | No            | 1                  | On Loan: No      |
| Wallenius Wilhelmsen ASA                  | Wallenius Wilhelmsen ASA                    | CUSIP: N/A<br>LEI: 549300NBN0URT3RA3Y54       | Long             | EC               | CORP              | NO        |    180861 | NS      | $1479815.69   | 4.01%             |  |  |  | No            | 1                  | On Loan: No      |
| ZIM Integrated Shipping Servic            | ZIM Integrated Shipping Services Ltd        | CUSIP: N/A<br>LEI: 21380089EIJRELKAIL21       | Long             | EC               | CORP              | IL        |     50909 | NS      | $819125.81    | 2.22%             |  |  |  | No            | 1                  | On Loan: —       |

### Signature

**Date Signed:** 2025-08-26

**Name of Applicant:** Tidal Trust I

**Signature:** /s/ Aaron Perkovich

**Name of Signer:** Aaron Perkovich

**Title:** Treasurer/Principal Financial Officer