# EDGAR Filing Document

**Accession Number:** 0001924868
**File Stem:** 0002000324-26-002689
**Filing Date:** 2026-6
**Character Count:** 15512
**Document Hash:** 95f33126bc0cbff53e6ff3ea5214b09e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002000324-26-002689.hdr.sgml**: 20260625

**ACCESSION NUMBER**: 0002000324-26-002689

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260430

**FILED AS OF DATE**: 20260625

**DATE AS OF CHANGE**: 20260625

**PERIOD START**: 20270131

**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:** 261122887

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

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

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

## Series and Classes Contracts Data

### Return Stacked(R) Bonds & Merger Arbitrage ETF (Series ID: S000089361)

| Class ID   | Class Name                                     | Ticker Symbol   |
|:---|:---|:---|
| C000255882 | Return Stacked(R) Bonds & Merger Arbitrage ETF | RSBA            |

## Nport-Ex

**Return Stacked Bonds & Merger Arbitrage ETF**

**Consolidated Schedule of Investments**

**April 30, 2026 (Unaudited)**

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**COMMON STOCKS - 60.1%** | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Health Care - 24.8%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Masimo Corp.<sup>(a)</sup> | 36764 | $6559801 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Penumbra, Inc.<sup>(a)</sup> | 19894 | 6494993 |
|  |  | 13054794 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Industrial Products - 12.5%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chart Industries, Inc.<sup>(a)(b)</sup> | 31624 | 6574630 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Insurance - 5.6%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brighthouse Financial, Inc.<sup>(a)</sup> | 47262 | 2942532 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Media - 7.2%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Clear Channel Outdoor Holdings, Inc. - Class A<sup>(a)</sup> | 1585262 | 3804629 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Software & Tech Services - 10.0%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cantaloupe, Inc.<sup>(a)</sup> | 223592 | 2441624 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Talkspace, Inc.<sup>(a)</sup> | 539652 | 2800794 |
|  |  | 5242418 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL COMMON STOCKS (Cost $31,772,164)** |  | 31619003 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**SHORT-TERM INVESTMENTS - 28.9%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Money Market Funds - 28.9%** | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;First American Government Obligations Fund - Class X, 3.58%<sup>(b)(c)(d)</sup> | 15166992 | 15166992 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL SHORT-TERM INVESTMENTS (Cost $15,166,992)** |  | 15166992 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL INVESTMENTS - 89.0% (Cost $46,939,156)** |  | $46785995 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other Assets in Excess of Liabilities - 11.0% |  | 5768668 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL NET ASSETS - 100.0%** |  | $52554663 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Percentages are stated as a percent of net assets. |  |  |

---

(a) Non-income producing security.

(b) All or a portion of this security has been pledged as collateral for securities sold short and futures contracts. As of April 30, 2026, the total value of securities pledged as collateral is $6,001,825.

(c) The rate shown represents the 7-day annualized effective yield as of April 30, 2026.

(d) 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.

**Return Stacked Bonds & Merger Arbitrage ETF**

**Consolidated Schedule of Securities Sold Short**

**April 30, 2026 (Unaudited)**

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**COMMON STOCKS - (6.7)%** | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Banking - (4.4)%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Banco Santander SA | (188853) | $(2302118) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Health Care - (2.3)%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Boston Scientific Corp. | (20885) | (1203185) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL COMMON STOCKS (Proceeds ($4018345))** |  | (3505303) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL SECURITIES SOLD SHORT - (6.7)% (Proceeds $4,018,345)** |  | $(3505303) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Percentages are stated as a percent of net assets. |  |  |

---

**Return Stacked Bonds & Merger Arbitrage ETF**

**Consolidated Schedule of Futures Contracts**

**April 30, 2026 (Unaudited)**

The Return Stacked Bonds & Merger Arbitrage ETF had the following futures contracts outstanding with Phillip Capital, Inc. as of April 30, 2026:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **FUTURES CONTRACTS - (2.3)%** | **FUTURES CONTRACTS - (2.3)%** | **FUTURES CONTRACTS - (2.3)%** | **FUTURES CONTRACTS - (2.3)%** | **FUTURES CONTRACTS - (2.3)%** |
| **Description** | **Contracts<br> Purchased** | **Expiration Date** | **Notional Value** | **Value / Unrealized Appreciation (Depreciation)** |
| U.S. Treasury 10 Year Note | 117 | 06/18/2026 | $12939469 | $(304098) |
| U.S. Treasury 2 Year Note | 63 | 06/30/2026 | 13048875 | (118596) |
| U.S. Treasury 5 Year Note | 120 | 06/30/2026 | 12940313 | (225290) |
| U.S. Treasury Long Bond | 114 | 06/18/2026 | 12864187 | (541267) |
| **Net Unrealized Appreciation (Depreciation)** |  |  |  | $(1189251) |
| Percentages are stated as a percent of net assets. |  |  |  |  |

---

**Return Stacked Bonds & Merger Arbitrage ETF**

**Consolidated Schedule of Total Return Swap Contracts**

**April 30, 2026 (Unaudited)**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **TOTAL RETURN SWAPS - 0.1%** | **TOTAL RETURN SWAPS - 0.1%** | **TOTAL RETURN SWAPS - 0.1%** | **TOTAL RETURN SWAPS - 0.1%** | **TOTAL RETURN SWAPS - 0.1%** | **TOTAL RETURN SWAPS - 0.1%** | **TOTAL RETURN SWAPS - 0.1%** | **TOTAL RETURN SWAPS - 0.1%** |
| **Reference Entity** | **Counterparty** | **Pay/ Receive Reference Entity** | **Financing Rate** | **Payment Frequency** | **Maturity Date** | **Notional Value** | **Value / Unrealized Appreciation (Depreciation)** |
| DigitalBridge Group, Inc. | Marex Capital <br> Markets, Inc. | Receive | OBFR + 6.64% | Termination<sup>(a)</sup> | 04/29/2033 | $3450726 | $(690) |
| Webster Financial Corp. | Marex Capital<br> Markets, Inc. | Receive | OBFR + 6.64% | Termination<sup>(a)</sup> | 04/29/2033 | 6740840 | 42444 |
| **Net Unrealized Appreciation (Depreciation)** |  |  |  |  |  |  | $41754 |

---

Percentages are stated as a percent of net assets.

OBFR – Overnight Bank Funding Rate was 3.64% as of April 30, 2026.

(a) Financing reset of the swap is effective on the last day of each month. Equity reset of the swap is effective on termination, but also periodically throughout the term based on predetermined notional thresholds.

## 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:** 8449867676

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

- **a. Name of Series:** Return Stacked Bonds & Merger Arbitrage ETF

- **b. EDGAR series identifier (if any):** S000089361

- **c. LEI of Series:** 254900M4QY7TO2322T33

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

- **a. Date of fiscal year-end:** 2027-01-31

- **b. Date as of which information is reported:** 2026-04-30

**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:** $56102793.85

**Total Liabilities:** $3547776.18

**Net Assets:** $52555017.67

**Cash Not Reported:** $5620293.37

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 0 | **1-Year:** -2187.55 | **5-Year:** -12806.36 | **10-Year:** 0 | **30-Year:** -15879.21

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

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

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000255882 | 1.06%                | -1.81%               | 0.31%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-241773.22              | $-90728.40                                 |
| Month 2  | $426854.12               | $-268491.54                                |
| Month 3  | $-200182.14              | $560586.72                                 |

**Designated Index Information**

- **Index Name:** NASDAQ-100 Total Return Index

- **Index Identifier:** XNDX

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Banco Santander SA             | Banco Santander SA                         | CUSIP: 05964H105<br>LEI: 5493006QMFDDMYWIAM13 | Short            | EC               | CORP              | ES        |   -188853 | NS      | $-2302118.07  | -4.38%            |  |  |  | No            |                  1 | On Loan: No      |
| Boston Scientific Corp         | Boston Scientific Corp                     | CUSIP: 101137107<br>LEI: Y6ZDD9FP4P8JSSJMW954 | Short            | EC               | CORP              | US        |    -20885 | NS      | $-1203184.85  | -2.29%            |  |  |  | No            |                  1 | On Loan: No      |
| Brighthouse Financial Inc      | Brighthouse Financial Inc                  | CUSIP: 10922N103<br>LEI: 5493003T8SZSHOGGAW52 | Long             | EC               | CORP              | US        |     47262 | NS      | $2942532.12   | 5.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Cantaloupe Inc                 | Cantaloupe Inc                             | CUSIP: 138103106<br>LEI: 529900O54DBQQVWO9Q85 | Long             | EC               | CORP              | US        |    223592 | NS      | $2441624.64   | 4.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Chart Industries Inc           | Chart Industries Inc                       | CUSIP: 16115Q308<br>LEI: EM7QGKC1GYOF3LSZSL80 | Long             | EC               | CORP              | US        |     31624 | NS      | $6574629.60   | 12.51%            |  |  |  | No            |                  1 | On Loan: No      |
| Clear Channel Outdoor Holdings | Clear Channel Outdoor Holdings Inc         | CUSIP: 18453H106<br>LEI: 254900XBEE6V1ENYS150 | Long             | EC               | CORP              | US        |   1585262 | NS      | $3804628.80   | 7.24%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Government Obli | First American Government Obligations Fund | CUSIP: 31846V336<br>LEI: 549300R5MYM6VZF1RM44 | Long             | STIV             | RF                | US        |  18718716 | NS      | $18718715.91  | 35.62%            |  |  |  | No            |                  1 | On Loan: No      |
| Masimo Corp                    | Masimo Corp                                | CUSIP: 574795100<br>LEI: 549300Q4A8JK0PIYCU29 | Long             | EC               | CORP              | US        |     36764 | NS      | $6559800.52   | 12.48%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | US 10YR NOTE (CBT)Jun26                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |       117 | NC      | $-304098.19   | -0.58%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | US 2YR NOTE (CBT) Jun26                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |        63 | NC      | $-118595.61   | -0.23%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | US 5YR NOTE (CBT) Jun26                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |       120 | NC      | $-225290.54   | -0.43%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | US LONG BOND(CBT) Jun26                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |       114 | NC      | $-541266.86   | -1.03%            |  |  |  | No            |                  1 | On Loan: No      |
| Penumbra Inc                   | Penumbra Inc                               | CUSIP: 70975L107<br>LEI: 549300RGE06P3ECANU72 | Long             | EC               | CORP              | US        |     19894 | NS      | $6494993.12   | 12.36%            |  |  |  | No            |                  1 | On Loan: No      |
| Talkspace Inc                  | Talkspace Inc                              | CUSIP: 87427V103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    539652 | NS      | $2800793.88   | 5.33%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | DigitalBridge Group, Inc.-SWAP-MREX-L      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |         1 | NC      | $-1326.74     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Webster Financial Corporation-SWAP-MREX-L  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |         1 | NC      | $41208.90     | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-06-25

**Name of Applicant:** Tidal Trust II

**Signature:** /s/ Aaron Perkovich

**Name of Signer:** Aaron Perkovich

**Title:** Treasurer/Principal Financial Officer