# EDGAR Filing Document

**Accession Number:** 0001742912
**File Stem:** 0002000324-26-000224
**Filing Date:** 2026-1
**Character Count:** 20712
**Document Hash:** 581cddbd2d16418b61710886e27f0f17
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002000324-26-000224.hdr.sgml**: 20260128

**ACCESSION NUMBER**: 0002000324-26-000224

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251130

**FILED AS OF DATE**: 20260128

**DATE AS OF CHANGE**: 20260128

**PERIOD START**: 20260831

**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:** 26571277

**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

### Unlimited HFGM Global Macro ETF (Series ID: S000082856)

| Class ID   | Class Name                      | Ticker Symbol   |
|:---|:---|:---|
| C000246179 | Unlimited HFGM Global Macro ETF | HFGM            |

## Nport-Ex

---

| | | | |
|:---|:---|:---|:---|
| **Unlimited HFGM Global Macro ETF** | **Unlimited HFGM Global Macro ETF** | **Unlimited HFGM Global Macro ETF** | **Unlimited HFGM Global Macro ETF** |
| **Consolidated Schedule of Investments** | **Consolidated Schedule of Investments** | **Consolidated Schedule of Investments** | **Consolidated Schedule of Investments** |
| **November 30, 2025 (Unaudited)** | **November 30, 2025 (Unaudited)** | **November 30, 2025 (Unaudited)** | **November 30, 2025 (Unaudited)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**EXCHANGE TRADED FUNDS - 45.7%** | | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Invesco DB Base Metals Fund |  | 25191 | $553698 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iShares MSCI China ETF |  | 34443 | 2142355 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iShares TIPS Bond ETF |  | 75714 | 8423940 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vanguard Emerging Markets Government Bond ETF |  | 232112 | 15767368 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vanguard FTSE Europe ETF |  | 11035 | 899684 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vanguard Russell 2000 ETF |  | 37837 | 3805645 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL EXCHANGE TRADED FUNDS (Cost $30,331,749)** |  |  | 31592690 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**PURCHASED OPTIONS - 0.1%<sup>(a)(b)(c)</sup>** | **Notional Amount** | **Contracts** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Put Options - 0.1%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;E-Mini S&P 500 Futures, Expiration: 12/19/2025; Exercise Price: $6,100.00 | $1550247 | 226 | 57630 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL PURCHASED OPTIONS (Cost $769,037)** |  |  | 57630 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**SHORT-TERM INVESTMENTS - 35.3%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Money Market Funds - 35.3%** |  | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;First American Government Obligations Fund - Class X, 3.92%<sup>(d)(e)</sup> |  | 24415075 | 24415075 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL SHORT-TERM INVESTMENTS (Cost $24,415,075)** |  |  | 24415075 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL INVESTMENTS - 81.1% (Cost $55,515,861)** |  |  | $56065395 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other Assets in Excess of Liabilities - 18.9% |  |  | 13097167 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL NET ASSETS - 100.0%** |  |  | $69162562 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Percentages are stated as a percent of net assets. |  |  |  |

---

TIPS Treasury Inflation-Protected Securities

&nbsp;&nbsp;&nbsp;&nbsp;(a) Exchange-traded.

(b) 100 shares per contract.

(c) Non-income producing security.

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

(e) 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.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Unlimited HFGM Global Macro ETF** | **Unlimited HFGM Global Macro ETF** | **Unlimited HFGM Global Macro ETF** | **Unlimited HFGM Global Macro ETF** | **Unlimited HFGM Global Macro ETF** |
| **Consolidated Schedule of Futures Contracts** | **Consolidated Schedule of Futures Contracts** | **Consolidated Schedule of Futures Contracts** | **Consolidated Schedule of Futures Contracts** | **Consolidated Schedule of Futures Contracts** |
| **November 30, 2025 (Unaudited)** | **November 30, 2025 (Unaudited)** | **November 30, 2025 (Unaudited)** | **November 30, 2025 (Unaudited)** | **November 30, 2025 (Unaudited)** |
| &nbsp;&nbsp;&nbsp;**FUTURES CONTRACTS - 1.5%** | | | | |
| &nbsp;&nbsp;&nbsp;**Description** | **Contracts<br> Purchased** | **Expiration Date** | **Notional Value** | **Value / Unrealized Appreciation (Depreciation)** |
| &nbsp;&nbsp;&nbsp;Arabica Coffee<sup>(a)</sup> | 17 | 03/19/2026 | $2430150 | $46257 |
| &nbsp;&nbsp;&nbsp;Australian Dollar/U.S. Dollar Cross Currency Rate | 30 | 12/15/2025 | 1965900 | 7004 |
| &nbsp;&nbsp;&nbsp;British Pound/U.S. Dollar Cross Currency Rate | 409 | 12/15/2025 | 33831969 | 35584 |
| &nbsp;&nbsp;&nbsp;CBOE Volatility Index | 546 | 12/17/2025 | 9974710 | (19167) |
| &nbsp;&nbsp;&nbsp;Cocoa<sup>(a)</sup> | 57 | 03/16/2026 | 3137280 | 16401 |
| &nbsp;&nbsp;&nbsp;Copper<sup>(a)</sup> | 74 | 03/27/2026 | 9753200 | 403014 |
| &nbsp;&nbsp;&nbsp;Corn<sup>(a)</sup> | 522 | 03/13/2026 | 11686275 | 182191 |
| &nbsp;&nbsp;&nbsp;E-Mini S&P 500 Index | 103 | 12/19/2025 | 35326425 | 234761 |
| &nbsp;&nbsp;&nbsp;Euro/U.S. Dollar Cross Currency Rate | 144 | 12/15/2025 | 20900700 | (11270) |
| &nbsp;&nbsp;&nbsp;Gold<sup>(a)</sup> | 59 | 02/25/2026 | 25103910 | 669512 |
| &nbsp;&nbsp;&nbsp;iBoxx iShares USD Investment Grade Corporate Bond Index | 134 | 03/02/2026 | 24118660 | (14052) |
| &nbsp;&nbsp;&nbsp;Live Cattle<sup>(a)</sup> | 91 | 12/31/2025 | 7846930 | (604248) |
| &nbsp;&nbsp;&nbsp;MSCI EAFE Index | 36 | 12/19/2025 | 5074020 | 40870 |
| &nbsp;&nbsp;&nbsp;MSCI Emerging Markets Index | 56 | 12/19/2025 | 3857280 | 73411 |
| &nbsp;&nbsp;&nbsp;Nikkei 225 Index | 30 | 12/11/2025 | 7536750 | 88270 |
| &nbsp;&nbsp;&nbsp;U.S. Treasury 10 Year Notes | 27 | 03/20/2026 | 3060281 | 714 |
| &nbsp;&nbsp;&nbsp;U.S. Treasury Long Bonds | 126 | 03/20/2026 | 14797125 | 4410 |
|  |  |  |  | 1153662 |
| &nbsp;&nbsp;&nbsp;**Description** | **Contracts<br> Sold** | **Expiration Date** | **Notional Value** | **Value / Unrealized Appreciation (Depreciation)** |
| &nbsp;&nbsp;&nbsp;Canadian Dollar/U.S. Dollar Cross Currency Rate | (1036) | 12/16/2025 | (74203500) | (96477) |
| &nbsp;&nbsp;&nbsp;Japanese Yen/U.S. Dollar Cross Currency Rate | (425) | 12/15/2025 | (34055781) | (9938) |
| &nbsp;&nbsp;&nbsp;Soybeans<sup>(a)</sup> | (28) | 01/14/2026 | (1592850) | (473) |
| &nbsp;&nbsp;&nbsp;Sugar #11<sup>(a)</sup> | (16) | 02/27/2026 | (272563) | (7776) |
| &nbsp;&nbsp;&nbsp;Swiss Franc/U.S. Dollar Cross Currency Rate | (35) | 12/15/2025 | (5456500) | 83977 |
| &nbsp;&nbsp;&nbsp;U.S. Dollar Index | (31) | 12/15/2025 | (3081648) | (16575) |
| &nbsp;&nbsp;&nbsp;U.S. Treasury 5 Year Notes | (159) | 03/31/2026 | (17452735) | (2902) |
| &nbsp;&nbsp;&nbsp;WTI Crude Oil<sup>(a)</sup> | (87) | 12/19/2025 | (5093850) | (44811) |
|  |  |  |  | (94975) |
| &nbsp;&nbsp;&nbsp;**Net Unrealized Appreciation (Depreciation)** |  |  |  | $1058687 |

---

&nbsp;&nbsp;&nbsp;&nbsp;(a) All or a portion of the investment is a holding of the Unlimited HFGM Cayman Subsidiary.

## 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:** Unlimited Hfgm Global Macro ETF

- **b. EDGAR series identifier (if any):** S000082856

- **c. LEI of Series:** 529900XPHZTU0AKBL683

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

- **a. Date of fiscal year-end:** 2026-08-31

- **b. Date as of which information is reported:** 2025-11-30

**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:** $69168263.81

**Total Liabilities:** $83347.29

**Net Assets:** $69084916.52

**Amount of Assets Invested in Other Investment Companies:** $4832757.98

**Cash Not Reported:** $12980734.85

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 0 | **1-Year:** 0 | **5-Year:** 4821 | **10-Year:** 0 | **30-Year:** -10095.97

**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 C000246179 | 6.09%                | 2.12%                | -0.98%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $64888.68                | $261146.26                                 |
| Month 2  | $651.18                  | $500784.71                                 |
| Month 3  | $100406.18               | $-233093.80                                |

**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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| First American Government Obli | First American Government Obligations Fund    | CUSIP: 31846V336<br>LEI: 549300R5MYM6VZF1RM44 | Long             | STIV             | RF                | US        |  24415075 | NS      | $24415074.97  | 35.34%            |  |  |  | No            |                  1 | On Loan: No      |
| Invesco DB Base Metals Fund    | Invesco DB Base Metals Fund                   | CUSIP: 46140H700<br>LEI: N/A                  | Long             | EC               | RF                | US        |     23835 | NS      | $523893.30    | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares MSCI China ETF         | iShares MSCI China ETF                        | CUSIP: 46429B671<br>LEI: N/A                  | Long             | EC               | RF                | US        |     33789 | NS      | $2101675.80   | 3.04%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares TIPS Bond ETF          | iShares TIPS Bond ETF                         | CUSIP: 464287176<br>LEI: 549300EHD1VQKMRQ0829 | Long             | EC               | RF                | US        |     73195 | NS      | $8143675.70   | 11.79%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | AUDUSD Crncy Fut  Dec25                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |        30 | NC      | $7003.90      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | BP CURRENCY FUT   Dec25                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |       322 | NC      | $37035.36     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | C$ CURRENCY FUT   Dec25                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |      -826 | NC      | $-94950.72    | -0.14%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | CHF CURRENCY FUT  Dec25                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |       -33 | NC      | $83985.04     | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | COCOA FUTURE      Mar26                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |        49 | NC      | $19025.87     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | COFFEE 'C' FUTURE Mar26                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |        20 | NC      | $54175.06     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | COPPER FUTURE     Mar26                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |        80 | NC      | $435690.40    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | CORN FUTURE       Mar26                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |       337 | NC      | $183867.20    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | DOLLAR INDEX      Dec25                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |       -29 | NC      | $-16561.98    | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | EURO FX CURR FUT  Dec25                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |        45 | NC      | $-9030.40     | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | GOLD 100 OZ FUTR  Feb26                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |        54 | NC      | $669931.02    | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | iBoxx iShr Bnd Id Mar26                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       131 | NC      | $-13982.29    | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | JPN YEN CURR FUT  Dec25                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |       -15 | NC      | $-151.80      | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | LIVE CATTLE FUTR  Dec25                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |       115 | NC      | $-831152.67   | -1.20%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | MSCI EAFE         Dec25                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |        35 | NC      | $40873.55     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | MSCI EmgMkt       Dec25                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |        55 | NC      | $73404.15     | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | NIKKEI 225  (CME) Dec25                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |        39 | NC      | $176826.62    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | S&P500 EMINI FUT  Dec25                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       116 | NC      | $273226.60    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | S&P500 EMINI OPTN Dec25P  6100                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |       226 | NC      | $57630.00     | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | SUGAR #11 (WORLD) Mar26                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |       -45 | NC      | $-21868.65    | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | US 10YR NOTE (CBT)Mar26                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |        26 | NC      | $732.68       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | US 5YR NOTE (CBT) Mar26                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |      -153 | NC      | $-2837.39     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | US LONG BOND(CBT) Mar26                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |        70 | NC      | $6339.20      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | WTI CRUDE FUTURE  Jan26                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |       -99 | NC      | $-50991.93    | -0.07%            |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard Emerging Markets Gove | Vanguard Emerging Markets Government Bond ETF | CUSIP: 921946885<br>LEI: N/A                  | Long             | EC               | RF                | US        |    224080 | NS      | $15221754.40  | 22.03%            |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard FTSE Europe ETF       | Vanguard FTSE Europe ETF                      | CUSIP: 922042874<br>LEI: N/A                  | Long             | EC               | RF                | US        |     10588 | NS      | $863239.64    | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard Russell 2000 ETF      | Vanguard Russell 2000 ETF                     | CUSIP: 92206C664<br>LEI: N/A                  | Long             | EC               | RF                | US        |     38609 | NS      | $3883293.22   | 5.62%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-01-28

**Name of Applicant:** Tidal Trust I

**Signature:** /s/ Aaron Perkovich

**Name of Signer:** Aaron Perkovich

**Title:** Treasurer/Principal Financial Officer