# EDGAR Filing Document

**Accession Number:** 0001924868
**File Stem:** 0002000324-26-002720
**Filing Date:** 2026-6
**Character Count:** 14327
**Document Hash:** 751835379535e4c84334523421cd6bdc
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002000324-26-002720.hdr.sgml**: 20260625

**ACCESSION NUMBER**: 0002000324-26-002720

**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**: 20260731

**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:** 261123059

**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

### YieldMax(R) MSTR Short Option Income Strategy ETF (Series ID: S000090794)

| Class ID   | Class Name                                        | Ticker Symbol   |
|:---|:---|:---|
| C000258136 | YieldMax(R) MSTR Short Option Income Strategy ETF | WNTR            |

## Nport-Ex

**YieldMax MSTR Short Option Income Strategy ETF**

**Schedule of Investments**

**April 30, 2026 (Unaudited)**

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**PURCHASED OPTIONS - 10.8%<sup>(a)(b)(c)(d)</sup>** | **Notional Amount** | **Contracts** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Call Options - 1.2%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Strategy, Inc., Expiration: 6/18/2026; Exercise Price: $250.00 | $66510900 | 4020 | $834150 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Put Options - 9.6%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Strategy, Inc., Expiration: 5/1/2026; Exercise Price: $162.50 | 16545000 | 1000 | 128000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Strategy, Inc., Expiration: 5/1/2026; Exercise Price: $160.00 | 8272500 | 500 | 33500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Strategy, Inc., Expiration: 5/1/2026; Exercise Price: $157.50 | 25148400 | 1520 | 50160 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Strategy, Inc., Expiration: 5/8/2026; Exercise Price: $152.50 | 8272500 | 500 | 116750 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Strategy, Inc., Expiration: 5/8/2026; Exercise Price: $148.00 | 8272500 | 500 | 75750 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Strategy, Inc., Expiration: 6/18/2026; Exercise Price: $165.00 | 66510900 | 4020 | 6492300 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Put Options** |  |  | 6896460 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL PURCHASED OPTIONS (Cost $7,745,975)** |  |  | 7730610 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**SHORT-TERM INVESTMENTS - 124.7%** | | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Money Market Funds - 3.4%** | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;First American Government Obligations Fund - Class X, 3.58%<sup>(e)</sup> | 2449309 | 2449309 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**U.S. Treasury Bills - 121.3%** | **Principal Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury Bill, 5/12/2026, 3.32%<sup>(f)(g)</sup> | $11932000 | 11918982 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury Bill, 6/11/2026, 3.57%<sup>(f)(g)</sup> | 17904000 | 17830696 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury Bill, 7/9/2026, 3.63%<sup>(f)(g)(h)</sup> | 26196000 | 26015122 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury Bill, 8/6/2026, 3.63%<sup>(f)(g)</sup> | 15735000 | 15583218 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury Bill, 9/3/2026, 3.64%<sup>(f)(g)</sup> | 15622000 | 15428081 |
|  |  | 86776099 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL SHORT-TERM INVESTMENTS (Cost $89,237,615)** |  | 89225408 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL INVESTMENTS - 135.5% (Cost $96,983,590)** |  | $96956018 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Liabilities in Excess of Other Assets - (35.5)% |  | (25408311) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL NET ASSETS - 100.0%** |  | $71547707 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Percentages are stated as a percent of net assets. |  |  |

---

(a) Exchange-traded.

(b) 100 shares per contract.

(c) Held in connection with written option contracts.
 See Schedule of Written Options Contracts for further information.

(d) Non-income producing security.

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

(f) The rate shown is the annualized effective yield
 as of April 30, 2026.

(g) All or a portion of this security has been pledged
 as collateral for written options. As of April 30, 2026, the total value of securities pledged as collateral is $46,442,224.

(h) 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.

**YieldMax MSTR Short Option Income Strategy ETF**

**Schedule of Written Options Contracts**

**April 30, 2026 (Unaudited)**

---

| | | | |
|:---|:---|:---|:---|
| **WRITTEN OPTIONS - (11.8)%<sup>(a)(b)</sup>** | **Notional <br> Amount** | **Contracts** | **Value** |
| **Call Options - (9.7)%** |  |  |  |
| Strategy, Inc., Expiration: 6/18/2026; Exercise Price: $165.02 | $(66510900) | (4020) | $(6934500) |
| **Put Options - (2.1)%** |  |  |  |
| Strategy, Inc., Expiration: 5/1/2026; Exercise Price: $170.00 | (16545000) | (1000) | (545000) |
| Strategy, Inc., Expiration: 5/1/2026; Exercise Price: $167.50 | (8272500) | (500) | (183750) |
| Strategy, Inc., Expiration: 5/1/2026; Exercise Price: $165.00 | (25148400) | (1520) | (342000) |
| Strategy, Inc., Expiration: 5/8/2026; Exercise Price: $160.00 | (8272500) | (500) | (226250) |
| Strategy, Inc., Expiration: 5/8/2026; Exercise Price: $157.50 | (8272500) | (500) | (183750) |
| **Total Put Options** |  |  | (1480750) |
| **TOTAL WRITTEN OPTIONS (Premiums received $8,783,316)** |  |  | $(8415250) |
| Percentages are stated as a percent of net assets. |  |  |  |

---

(a) Exchange-traded.

(b) 100 shares per contract.

## 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:** Yieldmax Mstr Short Option Income Strategy ETF

- **b. EDGAR series identifier (if any):** S000090794

- **c. LEI of Series:** 254900XEXJIN36VZO866

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

- **a. Date of fiscal year-end:** 2026-07-31

- **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:** $92010048.44

**Total Liabilities:** $20468527.96

**Net Assets:** $71541520.48

**Cash Not Reported:** $260780.92

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -1693.68 | **1-Year:** 0 | **5-Year:** 0 | **10-Year:** 0 | **30-Year:** 0

**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 C000258136 | 7.51%                | 1.99%                | -25.53%              |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-977.99                 | $-5546.16                                  |
| Month 2  | $-64.22                  | $-19861.29                                 |
| Month 3  | $-772.99                 | $4788.63                                   |

**Designated Index Information**

- **Index Name:** MicroStrategy (Strategy)

- **Index Identifier:** MSTR

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| First American Government Obli | First American Government Obligations Fund | CUSIP: 31846V336<br>LEI: 549300R5MYM6VZF1RM44 | Long             | STIV             | RF                | US        |   2449309 | NS      | $2449309.45   | 3.42%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | MSTR US 05/01/26 P157.5                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      1520 | NC      | $50160.00     | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | MSTR US 05/01/26 P160                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       500 | NC      | $33500.00     | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | MSTR US 05/01/26 P162.5                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      2000 | NC      | $256000.00    | 0.36%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | MSTR US 05/01/26 P165                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |     -1520 | NC      | $-342000.00   | -0.48%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | MSTR US 05/01/26 P167.5                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -500 | NC      | $-183750.00   | -0.26%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | MSTR US 05/01/26 P170                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |     -2000 | NC      | $-1090000.00  | -1.52%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | MSTR US 06/18/26 C250                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      4020 | NC      | $834150.00    | 1.17%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | MSTR US 06/18/26 P125                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      4020 | NC      | $1326600.00   | 1.85%             |  |  |  | No            |                  2 | On Loan: No      |
| TREASURY BILL                  | United States Treasury Bill                | CUSIP: 912797QX8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  17904000 | PA      | $17830695.47  | 24.92%            | 2026-06-11      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| TREASURY BILL                  | United States Treasury Bill                | CUSIP: 912797RF6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  26196000 | PA      | $26015122.12  | 36.36%            | 2026-07-09      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| TREASURY BILL                  | United States Treasury Bill                | CUSIP: 912797RG4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  15735000 | PA      | $15583218.46  | 21.78%            | 2026-08-06      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| TREASURY BILL                  | United States Treasury Bill                | CUSIP: 912797RS8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  15622000 | PA      | $15428081.15  | 21.57%            | 2026-09-03      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| TREASURY BILL                  | United States Treasury Bill                | CUSIP: 912797TR8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  11932000 | PA      | $11918981.47  | 16.66%            | 2026-05-12      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| N/A                            | MSTR 06/18/2026 125.02 C                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |     -4020 | NC      | $-17842810.20 | -24.94%           |  |  |  | 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