# EDGAR Filing Document

**Accession Number:** 0001742912
**File Stem:** 0001145549-23-020408
**Filing Date:** 2023-3
**Character Count:** 27860
**Document Hash:** 97aa733a8872cdea4e9decfc4fe647d5
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-23-020408.hdr.sgml**: 20230330

**ACCESSION NUMBER**: 0001145549-23-020408

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20230131

**FILED AS OF DATE**: 20230330

**DATE AS OF CHANGE**: 20230330

**PERIOD START**: 20230430

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Tidal ETF Trust
- **CENTRAL INDEX KEY:** 0001742912
- **IRS NUMBER:** 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:** 23779337

**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

## Series and Classes Contracts Data

### ZEGA Buy and Hedge ETF (Series ID: S000072366)

| Class ID   | Class Name             | Ticker Symbol   |
|:---|:---|:---|
| C000228537 | ZEGA Buy and Hedge ETF | ZHDG            |

## Nport-Ex

---

| | | | |
|:---|:---|:---|:---|
| **ZEGA Buy and Hedge ETF** | **ZEGA Buy and Hedge ETF** | **ZEGA Buy and Hedge ETF** | **ZEGA Buy and Hedge ETF** |
| **SCHEDULE OF INVESTMENTS at January 31, 2023 (Unaudited)** | **SCHEDULE OF INVESTMENTS at January 31, 2023 (Unaudited)** | **SCHEDULE OF INVESTMENTS at January 31, 2023 (Unaudited)** | **SCHEDULE OF INVESTMENTS at January 31, 2023 (Unaudited)** |
| **Principal Amount** | | | **Value** |
| **Corporate Bonds - 10.0%** | **Corporate Bonds - 10.0%** | | |
| **Apparel - 0.7%** | **Apparel - 0.7%** | | |
|  | Hanesbrands, Inc. | Hanesbrands, Inc. |  |
| $374000 | &nbsp;&nbsp;&nbsp; 4.625%, 05/15/2024 | &nbsp;&nbsp;&nbsp; 4.625%, 05/15/2024 | $368777 |
| **Auto Manufacturers - 0.8%** | **Auto Manufacturers - 0.8%** |  |  |
|  | Jaguar Land Rover Automotive PLC | Jaguar Land Rover Automotive PLC |  |
| 158000 | &nbsp;&nbsp;&nbsp; 5.625%, 02/01/2023 | &nbsp;&nbsp;&nbsp; 5.625%, 02/01/2023 | 158000 |
|  | Ford Motor Credit Co., LLC | Ford Motor Credit Co., LLC |  |
| 157000 | &nbsp;&nbsp;&nbsp; 5.584%, 03/18/2024 | &nbsp;&nbsp;&nbsp; 5.584%, 03/18/2024 | 156061 |
| 157000 | &nbsp;&nbsp;&nbsp; 3.664%, 09/08/2024 | &nbsp;&nbsp;&nbsp; 3.664%, 09/08/2024 | 151359 |
|  |  |  | 465420 |
| **Banks - 0.9%** | **Banks - 0.9%** |  |  |
|  | Intesa Sanpaolo SpA | Intesa Sanpaolo SpA |  |
| 546000 | &nbsp;&nbsp;&nbsp; 5.017%, 06/26/2024 | &nbsp;&nbsp;&nbsp; 5.017%, 06/26/2024 | 532698 |
| **Commercial Services - 0.4%** | **Commercial Services - 0.4%** |  |  |
|  | IHS Markit Ltd. | IHS Markit Ltd. |  |
| 253000 | &nbsp;&nbsp;&nbsp; 3.625%, 05/01/2024 | &nbsp;&nbsp;&nbsp; 3.625%, 05/01/2024 | 247681 |
| **Diversified Financial Services - 1.7%** | **Diversified Financial Services - 1.7%** |  |  |
|  | OneMain Finance Corp. | OneMain Finance Corp. |  |
| 276000 | &nbsp;&nbsp;&nbsp; 5.625%, 03/15/2023 | &nbsp;&nbsp;&nbsp; 5.625%, 03/15/2023 | 275988 |
| 153000 | &nbsp;&nbsp;&nbsp; 6.125%, 03/15/2024 | &nbsp;&nbsp;&nbsp; 6.125%, 03/15/2024 | 151883 |
|  | Navient Corp. | Navient Corp. |  |
| 371000 | &nbsp;&nbsp;&nbsp; 6.125%, 03/25/2024 | &nbsp;&nbsp;&nbsp; 6.125%, 03/25/2024 | 370527 |
|  | Radian Group, Inc. | Radian Group, Inc. |  |
| 157000 | &nbsp;&nbsp;&nbsp; 4.500%, 10/01/2024 | &nbsp;&nbsp;&nbsp; 4.500%, 10/01/2024 | 151966 |
|  |  |  | 950364 |
| **Electric - 0.3%** | **Electric - 0.3%** |  |  |
|  | InterGen NV | InterGen NV |  |
| 158000 | &nbsp;&nbsp;&nbsp; 7.000%, 06/30/2023 | &nbsp;&nbsp;&nbsp; 7.000%, 06/30/2023 | 158107 |
| **Environmental Control - 0.1%** | **Environmental Control - 0.1%** |  |  |
|  | Stericycle, Inc. | Stericycle, Inc. |  |
| 58000 | &nbsp;&nbsp;&nbsp; 5.375%, 07/15/2024 | &nbsp;&nbsp;&nbsp; 5.375%, 07/15/2024 | 57503 |
| **Gas - 0.6%** | **Gas - 0.6%** |  |  |
|  | AmeriGas Partners LP / AmeriGas Finance Corp. | AmeriGas Partners LP / AmeriGas Finance Corp. |  |
| 314000 | &nbsp;&nbsp;&nbsp; 5.625%, 05/20/2024 | &nbsp;&nbsp;&nbsp; 5.625%, 05/20/2024 | 309684 |
| **Healthcare - Services - 0.2%** | **Healthcare - Services - 0.2%** |  |  |
|  | Tenet Healthcare Corp. | Tenet Healthcare Corp. |  |
| 94000 | &nbsp;&nbsp;&nbsp; 4.625%, 07/15/2024 | &nbsp;&nbsp;&nbsp; 4.625%, 07/15/2024 | 92828 |
| **Investment Companies - 0.3%** | **Investment Companies - 0.3%** |  |  |
|  | Icahn Enterprises LP / Icahn Enterprises Finance Corp. | Icahn Enterprises LP / Icahn Enterprises Finance Corp. |  |
| 153000 | &nbsp;&nbsp;&nbsp; 4.750%, 09/15/2024 | &nbsp;&nbsp;&nbsp; 4.750%, 09/15/2024 | 149558 |
| **Media - 1.7%** | **Media - 1.7%** |  |  |
|  | DISH DBS Corp. | DISH DBS Corp. |  |
| 338000 | &nbsp;&nbsp;&nbsp; 5.000%, 03/15/2023 | &nbsp;&nbsp;&nbsp; 5.000%, 03/15/2023 | 337689 |
| 483000 | &nbsp;&nbsp;&nbsp; 5.875%, 11/15/2024 | &nbsp;&nbsp;&nbsp; 5.875%, 11/15/2024 | 456398 |
|  | CSC Holdings, LLC | CSC Holdings, LLC |  |
| 160000 | &nbsp;&nbsp;&nbsp; 5.250%, 06/01/2024 | &nbsp;&nbsp;&nbsp; 5.250%, 06/01/2024 | 156385 |
|  |  |  | 950472 |
| **Pharmaceuticals - 0.9%** | **Pharmaceuticals - 0.9%** |  |  |
|  | Perrigo Finance Unlimited Co. | Perrigo Finance Unlimited Co. |  |
| 517000 | &nbsp;&nbsp;&nbsp; 3.900%, 12/15/2024 | &nbsp;&nbsp;&nbsp; 3.900%, 12/15/2024 | 500583 |
| **Pipelines - 0.4%** | **Pipelines - 0.4%** |  |  |
|  | Buckeye Partners L.P. | Buckeye Partners L.P. |  |
| 235000 | &nbsp;&nbsp;&nbsp; 4.150%, 07/01/2023 | &nbsp;&nbsp;&nbsp; 4.150%, 07/01/2023 | 233998 |
| **Real Estate Investment Trusts (REITs) - 0.3%** | **Real Estate Investment Trusts (REITs) - 0.3%** |  |  |
|  | Service Properties Trust | Service Properties Trust |  |
| 158000 | &nbsp;&nbsp;&nbsp; 4.500%, 06/15/2023 | &nbsp;&nbsp;&nbsp; 4.500%, 06/15/2023 | 156989 |
| **Retail - 0.1%** | **Retail - 0.1%** |  |  |
|  | QVC, Inc. | QVC, Inc. |  |
| 58000 | &nbsp;&nbsp;&nbsp; 4.850%, 04/01/2024 | &nbsp;&nbsp;&nbsp; 4.850%, 04/01/2024 | 55592 |
| **Telecommunications - 0.6%** | **Telecommunications - 0.6%** |  |  |
|  | Telecom Italia SpA/Milano | Telecom Italia SpA/Milano |  |
| 367000 | &nbsp;&nbsp;&nbsp; 5.303%, 05/30/2024 | &nbsp;&nbsp;&nbsp; 5.303%, 05/30/2024 | 357825 |
| **Total Corporate Bonds** | **Total Corporate Bonds** |  |  |
| &nbsp;&nbsp;&nbsp; (Cost $5,761,861) |  |  | 5588079 |
| **United States Treasury Obligations - 69.3%** | **United States Treasury Obligations - 69.3%** |  |  |
|  | United States Treasury Notes | United States Treasury Notes |  |
| 19000000 | &nbsp;&nbsp;&nbsp; 2.750%, 05/31/2023 | &nbsp;&nbsp;&nbsp; 2.750%, 05/31/2023 | 18874876 |
| 20500000 | &nbsp;&nbsp;&nbsp; 3.000%, 06/30/2024 | &nbsp;&nbsp;&nbsp; 3.000%, 06/30/2024 | 20062773 |
|  |  |  | 38937649 |
| **Total United States Treasury Obligations** | **Total United States Treasury Obligations** |  |  |
| &nbsp;&nbsp;&nbsp; (Cost $39,065,201) |  |  | 38937649 |
| **Contracts <sup>(1)</sup>** |  | **Notional Amount** |  |
| **Purchased Options - 17.5%** | **Purchased Options - 17.5%** |  |  |
| **Call Options - 17.5%** | **Call Options - 17.5%** |  |  |
|  | SPDR S&P 500 ETF Trust |  |  |
| 150 | Expiration: 03/17/2023, Strike Price: $455 | $6097200 | 3332 |
| 270 | Expiration: 06/16/2023, Strike Price: $365 | 10974960 | 1407151 |
| 470 | Expiration: 06/16/2023, Strike Price: $415 | 19104560 | 730564 |
| 50 | Expiration: 06/16/2023, Strike Price: $444 | 2032400 | 20722 |
| 500 | Expiration: 09/15/2023, Strike Price: $365 | 20324000 | 2900846 |
| 410 | Expiration: 12/15/2023, Strike Price: $365 | 16665680 | 2632509 |
| 325 | Expiration: 01/19/2024, Strike Price: $365 | 13210600 | 2150345 |
|  |  |  | 9845469 |
| **Total Purchased Options** | **Total Purchased Options** |  |  |
| Cost ($9,170,971) |  |  | 9845469 |
| **Shares** |  |  |  |
| **Short-Term Investments - 3.6%** | **Short-Term Investments - 3.6%** |  |  |
| **Money Market Funds - 3.6%** | **Money Market Funds - 3.6%** |  |  |
| 988612 | Dreyfus Cash Management, 3.430% <sup>(2)</sup> | Dreyfus Cash Management, 3.430% <sup>(2)</sup> | 988612 |
| 1045909 | First American Government Obligations Fund, Class X, 4.140% <sup>(2)</sup> | First American Government Obligations Fund, Class X, 4.140% <sup>(2)</sup> | 1045909 |
|  |  |  | 2034521 |
| **Total Short-Term Investments** | **Total Short-Term Investments** |  |  |
| &nbsp;&nbsp;&nbsp; (Cost $2,034,521) |  |  | 2034521 |
| **Total Investments in Securities - 100.4%** | **Total Investments in Securities - 100.4%** |  |  |
| (Cost $56,032,554) |  |  | 56405718 |
| Liabilities in Excess of Other Assets - (0.4)% | Liabilities in Excess of Other Assets - (0.4)% |  | (215637) |
| **Total Net Assets - 100.0%** | **Total Net Assets - 100.0%** |  | $56190081 |
| <sup>(1)</sup>  | 100 shares per contract. | 100 shares per contract. | 100 shares per contract. |
| <sup>(2)</sup>  | The rate shown is the annualized seven-day effective yield as of January 31, 2023. | The rate shown is the annualized seven-day effective yield as of January 31, 2023. | The rate shown is the annualized seven-day effective yield as of January 31, 2023. |

---

------

---

| | | | |
|:---|:---|:---|:---|
| **ZEGA Buy and Hedge ETF** | **ZEGA Buy and Hedge ETF** | **ZEGA Buy and Hedge ETF** | **ZEGA Buy and Hedge ETF** |
| **SCHEDULE OF OPTIONS WRITTEN at January 31, 2023 (Unaudited)** | **SCHEDULE OF OPTIONS WRITTEN at January 31, 2023 (Unaudited)** | **SCHEDULE OF OPTIONS WRITTEN at January 31, 2023 (Unaudited)** | **SCHEDULE OF OPTIONS WRITTEN at January 31, 2023 (Unaudited)** |
| **Contracts <sup>(1)</sup>** |  | **Notional Amount** | **Value** |
| | **Call Options - 0.7%** | | |
|  | SPDR S&P 500 ETF Trust |  |  |
| 470 | Expiration: 06/16/2023, Strike Price: $430 | $19104560 | $387750 |
|  | **Total Options Written** |  |  |
|  | (Proceeds Received $349,707) |  | $387750 |
| Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. |  |  |
| <sup>(1)</sup>  | 100 shares per contract. | 100 shares per contract. | 100 shares per contract. |

---

------

---

| |
|:---|
| **Summary of Fair Value Exposure at January 31, 2023 (Unaudited)** |
| The ZEGA Buy and Hedge ETF (the "Fund") utilizes various methods to measure the fair value of its investments on a recurring basis. U.S. GAAP establishes a hierarchy that prioritizes inputs to valuation methods. The three levels of inputs are: |
| • Level 1 — Unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access.<br> • 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 spreads, credit risk, yield curves, default rates and similar data.<br> • 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 would be based on the best information available. |
| The following is a summary of the inputs used to value the Fund's investments and options written as of January 31, 2023: |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investments in Securities** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Corporate Bonds | $– | $5588079 | $– | $5588079 |
| United States Treasury Obligations | – | 38937649 | – | 38937649 |
| Purchased Options | 9845469 | – | – | 9845469 |
| Short-Term Investments | 2034521 | – | – | 2034521 |
| Total Investments in Securities | $11879990 | $44525728 | $– | $56405718 |
| **Options Written** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Call Options | $387750 | – | $– | $387750 |
| Total Options Written | $387750 | $– | $– | $387750 |

---

## 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 ETF Trust

- **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:** 844-986-7676

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

- **a. Name of Series:** ZEGA Buy and Hedge ETF

- **b. EDGAR series identifier (if any):** S000072366

- **c. LEI of Series:** 5493001BFQPSE4Y7N468

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

- **a. Date of fiscal year-end:** 2023-04-30

- **b. Date as of which information is reported:** 2023-01-31

**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:** $56623220.63

**Total Liabilities:** $432763.73

**Net Assets:** $56190456.90

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 542.430000000000 | **1-Year:** 2527.390000000000 | **5-Year:** 283.500000000000 | **10-Year:** 0.000000000000 | **30-Year:** 0.000000000000

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

- **3-Month:** 44.170000000000 | **1-Year:** 461.610000000000 | **5-Year:** 50.330000000000 | **10-Year:** 0.000000000000 | **30-Year:** 0.000000000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000228537 | 3.10%                | -6.56%               | 4.42%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-57941.57               | $137508.33                                 |
| Month 2  | $-75514.95               | $60571.60                                  |
| Month 3  | $-5548.67                | $109240.46                                 |

**Designated Index Information**

- **Index Name:** S&P 500 Total Return Index

- **Index Identifier:** SPTR

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| SPY 06/16/2023 365.01 C        | SPY 06/16/2023 365.01 C                               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       270 | NC      | $1407150.95   | 2.50%             |  |  |  | No            |                  1 | On Loan: No      |
| SPY 06/16/2023 415.01 C        | SPY 06/16/2023 415.01 C                               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       470 | NC      | $730564.43    | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | SPDR S&P 500 ETF Trust                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -470 | NC      | $-387750.00   | -0.69%            |  |  |  | No            |                  1 | On Loan: No      |
| SPY 06/16/2023 444.9 C         | SPY 06/16/2023 444.9 C                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |        50 | NC      | $20722.45     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| SPY 09/15/2023 365.01 C        | SPY 09/15/2023 365.01 C                               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       500 | NC      | $2900845.00   | 5.16%             |  |  |  | No            |                  1 | On Loan: No      |
| SPY 12/15/2023 365.01 C        | SPY 12/15/2023 365.01 C                               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       410 | NC      | $2632509.10   | 4.68%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERIGAS PART/FIN CORP         | AmeriGas Partners LP / AmeriGas Finance Corp          | CUSIP: 030981AH7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    314000 | PA      | $309684.07    | 0.55%             | 2024-05-20      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| BUCKEYE PARTNERS LP            | Buckeye Partners LP                                   | CUSIP: 118230AK7<br>LEI: 549300C1PQJLVEIUBK50 | Long             | DBT              | CORP              | US        |    235000 | PA      | $233997.73    | 0.42%             | 2023-07-01      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| CSC HOLDINGS LLC               | CSC Holdings LLC                                      | CUSIP: 126307AH0<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |    160000 | PA      | $156384.80    | 0.28%             | 2024-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| DISH DBS CORP                  | DISH DBS Corp                                         | CUSIP: 25470XAL9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    338000 | PA      | $337688.91    | 0.60%             | 2023-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DISH DBS CORP                  | DISH DBS Corp                                         | CUSIP: 25470XAW5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    483000 | PA      | $456398.78    | 0.81%             | 2024-11-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Dreyfus Treasury Securities Ca | Dreyfus Treasury Securities Cash Management           | CUSIP: 261941702<br>LEI: 549300U78VESCW509025 | Long             | STIV             | RF                | US        |    986860 | NS      | $986859.81    | 1.76%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Government Obli | First American Government Obligations Fund            | CUSIP: 31846V336<br>LEI: 549300R5MYM6VZF1RM44 | Long             | STIV             | RF                | US        |   1045909 | NS      | $1045909.01   | 1.86%             |  |  |  | No            |                  1 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC       | Ford Motor Credit Co LLC                              | CUSIP: 345397WW9<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    157000 | PA      | $151359.38    | 0.27%             | 2024-09-08      | Fixed         | 3.66%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC       | Ford Motor Credit Co LLC                              | CUSIP: 345397ZQ9<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    157000 | PA      | $156060.17    | 0.28%             | 2024-03-18      | Fixed         | 5.58%                 | No            |                  2 | On Loan: No      |
| HANESBRANDS INC                | Hanesbrands Inc                                       | CUSIP: 410345AJ1<br>LEI: GX5LWVWZLL5S4W1L2F20 | Long             | DBT              | CORP              | US        |    374000 | PA      | $368777.09    | 0.66%             | 2024-05-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| SERVICE PROPERTIES TRUST       | Service Properties Trust                              | CUSIP: 44106MAR3<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              | CORP              | US        |    158000 | PA      | $156988.79    | 0.28%             | 2023-06-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| IHS MARKIT LTD                 | IHS Markit Ltd                                        | CUSIP: 44962LAH0<br>LEI: 549300HLPTRASHS0E726 | Long             | DBT              | CORP              | BM        |    253000 | PA      | $247680.78    | 0.44%             | 2024-05-01      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| ICAHN ENTERPRISES/FIN          | Icahn Enterprises LP / Icahn Enterprises Finance Corp | CUSIP: 451102BW6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    153000 | PA      | $149557.50    | 0.27%             | 2024-09-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| INTERGEN NV                    | InterGen NV                                           | CUSIP: 45867XAG9<br>LEI: 549300E3XRGX2JMPEC79 | Long             | DBT              | CORP              | NL        |    158000 | PA      | $158107.39    | 0.28%             | 2023-06-30      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| INTESA SANPAOLO SPA            | Intesa Sanpaolo SpA                                   | CUSIP: 46115HAT4<br>LEI: 2W8N8UU78PMDQKZENC08 | Long             | DBT              | CORP              | IT        |    546000 | PA      | $532698.33    | 0.95%             | 2024-06-26      | Fixed         | 5.02%                 | No            |                  2 | On Loan: No      |
| JAGUAR LAND ROVER AUTOMO       | Jaguar Land Rover Automotive PLC                      | CUSIP: 47010BAA2<br>LEI: 529900L73GEWN1O5NH84 | Long             | DBT              | CORP              | GB        |    158000 | PA      | $158000.00    | 0.28%             | 2023-02-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| PERRIGO FINANCE UNLIMITD       | Perrigo Finance Unlimited Co                          | CUSIP: 714295AC6<br>LEI: 549300E86RB6YCTMRM83 | Long             | DBT              | CORP              | IE        |    517000 | PA      | $500582.67    | 0.89%             | 2024-12-15      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| QVC INC                        | QVC Inc                                               | CUSIP: 747262AS2<br>LEI: 549300WBLU5NKPX5X472 | Long             | DBT              | CORP              | US        |     58000 | PA      | $55592.13     | 0.10%             | 2024-04-01      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| RADIAN GROUP INC               | Radian Group Inc                                      | CUSIP: 750236AU5<br>LEI: 54930005OUP720S5U385 | Long             | DBT              | CORP              | US        |    157000 | PA      | $151966.35    | 0.27%             | 2024-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| NAVIENT CORP                   | Navient Corp                                          | CUSIP: 78442FET1<br>LEI: 54930067J0ZNOEBRW338 | Long             | DBT              | CORP              | US        |    371000 | PA      | $370526.98    | 0.66%             | 2024-03-25      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP           | OneMain Finance Corp                                  | CUSIP: 85172FAL3<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |    276000 | PA      | $275987.58    | 0.49%             | 2023-03-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP           | OneMain Finance Corp                                  | CUSIP: 85172FAP4<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |    153000 | PA      | $151883.10    | 0.27%             | 2024-03-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| STERICYCLE INC                 | Stericycle Inc                                        | CUSIP: 858912AF5<br>LEI: B8PTJH2P0AXSWSMP2136 | Long             | DBT              | CORP              | US        |     58000 | PA      | $57503.23     | 0.10%             | 2024-07-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| TELECOM ITALIA SPA             | Telecom Italia SpA/Milano                             | CUSIP: 87927YAA0<br>LEI: 549300W384M3RI3VXU42 | Long             | DBT              | CORP              | IT        |    367000 | PA      | $357825.00    | 0.64%             | 2024-05-30      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| TENET HEALTHCARE CORP          | Tenet Healthcare Corp                                 | CUSIP: 88033GCS7<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |     94000 | PA      | $92828.29     | 0.17%             | 2024-07-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                | United States Treasury Note/Bond                      | CUSIP: 9128284S6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  19000000 | PA      | $18874875.50  | 33.59%            | 2023-05-31      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                | United States Treasury Note/Bond                      | CUSIP: 91282CEX5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  20500000 | PA      | $20062773.54  | 35.70%            | 2024-06-30      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| SPY 03/17/2023 455.01 C        | SPY 03/17/2023 455.01 C                               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       150 | NC      | $3331.64      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| SPY 01/19/2024 365.01 C        | SPY 01/19/2024 365.01 C                               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       325 | NC      | $2150345.05   | 3.83%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2023-03-28

**Name of Applicant:** Tidal ETF Trust

**Signature:** /s/ Aaron Perkovich

**Name of Signer:** Aaron Perkovich

**Title:** Treasurer/Principal Financial Officer