# EDGAR Filing Document

**Accession Number:** 0001924868
**File Stem:** 0001145549-23-020608
**Filing Date:** 2023-3
**Character Count:** 11444
**Document Hash:** 9b1879f9e5d18a9f257f8ab5a1f883e9
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-23-020608.hdr.sgml**: 20230330

**ACCESSION NUMBER**: 0001145549-23-020608

**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**: 20231031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Tidal Trust II
- **CENTRAL INDEX KEY:** 0001924868
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23793
- **FILM NUMBER:** 23780338

**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

### Senior Secured Credit Opportunities ETF (Series ID: S000077774)

| Class ID   | Class Name                              | Ticker Symbol   |
|:---|:---|:---|
| C000238319 | Senior Secured Credit Opportunities ETF |  |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **Senior Secured Credit Opportunites ETF** | **Senior Secured Credit Opportunites ETF** | **Senior Secured Credit Opportunites 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)** |
|  | **Principal Amount** | **Value** |
| **Corporate Bonds - 51.3%** |  |  |
| **Agriculture - 4.3%** |  |  |
| Vector Group Ltd. |  |  |
| &nbsp;&nbsp;&nbsp; 5.750%, 02/01/2029 | $25000 | $21601 |
| **Auto Parts & Equipment - 4.8%** |  |  |
| Titan International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 7.000%, 04/30/2028 | 25000 | 24113 |
| **Commercial Services - 4.7%** |  |  |
| Adtalem Global Education, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 5.500%, 03/01/2028 | 25000 | 23341 |
| **Computers - 3.8%** |  |  |
| Unisys Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 6.875%, 11/01/2027 | 25000 | 18973 |
| **Healthcare - Products - 10.0%** |  |  |
| Varex Imaging Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 7.875%, 10/15/2027 | 50000 | 49798 |
| **Home Builders - 4.8%** |  |  |
| Winnebago Industries, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 6.250%, 07/15/2028 | 25000 | 24072 |
| **Miscellaneous Manufacturers - 4.5%** |  |  |
| LSB Industries, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 6.250%, 10/15/2028 | 25000 | 22227 |
| **Oil & Gas - 9.9%** |  |  |
| Par Petroleum LLC / Par Petroleum Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 7.750%, 12/15/2025 | 50000 | 49065 |
| **Retail - 4.5%** |  |  |
| BlueLinx Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 6.000%, 11/15/2029 | 25000 | 22195 |
| **Total Corporate Bonds** |  |  |
| &nbsp;&nbsp;&nbsp; (Cost $257,663) |  | 255385 |
| **Short-Term Investments - 47.8%** |  |  |
| **Money Market Funds - 47.8%** |  |  |
| First American Government Obligations Fund, Class X, 4.140% <sup>(1)</sup> | 237986 | 237986 |
| **Total Short-Term Investments** |  |  |
| &nbsp;&nbsp;&nbsp; (Cost $237,986) |  | 237986 |
| **Total Investments in Securities - 99.1%** |  |  |
| &nbsp;&nbsp;&nbsp; (Cost $495,649) |  | 493371 |
| Other Assets in Excess of Liabilities - 0.9% |  | 4651 |
| **Total Net Assets - 100.0%** |  | $498022 |

---

<sup>(1)</sup> The rate shown is the annualized seven-day effective yield as of January 31, 2023.

------

---

| |
|:---|
| **Summary of Fair Value Exposure at January 31, 2023 (Unaudited)** |
| The Senior Secured Credit Opportunites 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 <sup>(1)</sup> | $– | $255385 | $– | $255385 |
| Short-Term Investments | 237986 | – | – | 237986 |
| Total Investments in Securities | $237986 | $255385 | $– | $493371 |
| <sup>(1)</sup> See Schedule of Investments for the industry breakout. |  |  |  |  |

---

## 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:** 898 N. BROADWAY

  - **City:** Massapequa

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 11758

  - **Telephone number:** 844-986-7676

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

- **a. Name of Series:** Senior Secured Credit Opportunites ETF

- **b. EDGAR series identifier (if any):** S000077774

- **c. LEI of Series:** 549300MJRKF4CHVWGR75

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

- **a. Date of fiscal year-end:** 2023-10-31

- **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:** $546515.69

**Total Liabilities:** $48488.67

**Net Assets:** $498027.02

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000238319 |  | -0.12%               | 0.52%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  |  |  |
| Month 2  | $0.00                    | $-2936.95                                  |
| Month 3  | $-401.12                 | $658.83                                    |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| ADTALEM GLOBAL EDUCATION       | Adtalem Global Education Inc                   | CUSIP: 00737WAA7<br>LEI: 549300Z467EZLMODV621 | Long             | DBT              | CORP              | US        |     25000 | PA      | $23341.13     | 4.69%             | 2028-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BLUELINX HOLDING               | BlueLinx Holdings Inc                          | CUSIP: 09624HAA7<br>LEI: 549300YSX7GU28F5I540 | Long             | DBT              | CORP              | US        |     25000 | PA      | $22194.38     | 4.46%             | 2029-11-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| First American Government Obli | First American Government Obligations Fund     | CUSIP: 31846V336<br>LEI: 549300R5MYM6VZF1RM44 | Long             | STIV             | RF                | US        |    286059 | NS      | $286058.76    | 57.44%            |  |  |  | No            |                  1 | On Loan: No      |
| LSB INDUSTRIES                 | LSB Industries Inc                             | CUSIP: 502160AN4<br>LEI: 5493001H215A0HG0MI71 | Long             | DBT              | CORP              | US        |     25000 | PA      | $22226.91     | 4.46%             | 2028-10-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| PAR PETRO LLC / FIN CORP       | Par Petroleum LLC / Par Petroleum Finance Corp | CUSIP: 69889MAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     50000 | PA      | $49065.25     | 9.85%             | 2025-12-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| TITAN INTERNATIONAL INC        | Titan International Inc                        | CUSIP: 88830MAM4<br>LEI: 254900CXRGBE7C4B5A06 | Long             | DBT              | CORP              | US        |     25000 | PA      | $24113.38     | 4.84%             | 2028-04-30      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| UNISYS CORP                    | Unisys Corp                                    | CUSIP: 909214BV9<br>LEI: 549300T21W22FIJJOW08 | Long             | DBT              | CORP              | US        |     25000 | PA      | $18972.75     | 3.81%             | 2027-11-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| VAREX IMAGING CORPORATIO       | Varex Imaging Corp                             | CUSIP: 92214XAC0<br>LEI: 549300CWYWPVCT8E9W67 | Long             | DBT              | CORP              | US        |     50000 | PA      | $49798.00     | 10.00%            | 2027-10-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| VECTOR GROUP LTD               | Vector Group Ltd                               | CUSIP: 92240MBL1<br>LEI: 549300TUIF4WWN6NDN50 | Long             | DBT              | CORP              | US        |     25000 | PA      | $21600.57     | 4.34%             | 2029-02-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| WINNEBAGO INDUSTRIES           | Winnebago Industries Inc                       | CUSIP: 974637AC4<br>LEI: 549300B7OYKYJLTE3G11 | Long             | DBT              | CORP              | US        |     25000 | PA      | $24072.26     | 4.83%             | 2028-07-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |

### Signature

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

**Name of Applicant:** Tidal Trust II

**Signature:** /s/ Aaron Perkovich

**Name of Signer:** Aaron Perkovich

**Title:** Assistant Treasurer