# EDGAR Filing Document

**Accession Number:** 0001924868
**File Stem:** 0000894189-25-020042
**Filing Date:** 2025-12
**Character Count:** 48700
**Document Hash:** a3b19e9ca7c7221dbd09fbc73f3fcefd
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000894189-25-020042.hdr.sgml**: 20251230

**ACCESSION NUMBER**: 0000894189-25-020042

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251031

**FILED AS OF DATE**: 20251230

**DATE AS OF CHANGE**: 20251230

**PERIOD START**: 20251031

**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:** 251612194

**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

### Hilton BDC Corporate Bond ETF (Series ID: S000092997)

| Class ID   | Class Name                    | Ticker Symbol   |
|:---|:---|:---|
| C000261052 | Hilton BDC Corporate Bond ETF |  |

## 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:** 844-986-7700

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

- **a. Name of Series:** Hilton BDC Corporate Bond ETF

- **b. EDGAR series identifier (if any):** S000092997

- **c. LEI of Series:** 254900DTSOISMFOUM402

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

- **a. Date of fiscal year-end:** 2025-10-31

- **b. Date as of which information is reported:** 2025-10-31

**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:** $84939971.93

**Total Liabilities:** $396590.99

**Net Assets:** $84543380.94

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 265.838787000000 | **1-Year:** 6836.158323000000 | **5-Year:** 13185.299823000000 | **10-Year:** 1070.557011000000 | **30-Year:** 0.000000000000

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

- **3-Month:** 13.904548000000 | **1-Year:** 154.006798000000 | **5-Year:** 138.056569000000 | **10-Year:** 0.000000000000 | **30-Year:** 0.000000000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000261052 | 1.08%                | 0.54%                | -0.05%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-140.27                 | $222521.09                                 |
| Month 2  | $-7144.69                | $88143.61                                  |
| Month 3  | $-1466.01                | $-350815.90                                |

**Designated Index Information**

- **Index Name:** N/A

- **Index Identifier:** N/A

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| ARES CAPITAL CORP              | Ares Capital Corp                          | CUSIP: 04010LAZ6<br>LEI: WEQ82666OJYSI5GUAB47 | Long             | DBT              | CORP              | US        |   1031000 | PA      | $1030009.78   | 1.22%             | 2026-01-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| ARES CAPITAL CORP              | Ares Capital Corp                          | CUSIP: 04010LBD4<br>LEI: WEQ82666OJYSI5GUAB47 | Long             | DBT              | CORP              | US        |    433000 | PA      | $422432.28    | 0.50%             | 2027-06-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| ARES CAPITAL CORP              | Ares Capital Corp                          | CUSIP: 04010LBE2<br>LEI: WEQ82666OJYSI5GUAB47 | Long             | DBT              | CORP              | US        |    817000 | PA      | $839242.47    | 0.99%             | 2027-01-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| BAIN CAPITAL SPECIALTY F       | Bain Capital Specialty Finance Inc         | CUSIP: 05684BAB3<br>LEI: 549300V2JL72R0EYBK64 | Long             | DBT              | CORP              | US        |    402000 | PA      | $399456.05    | 0.47%             | 2026-03-10      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE PRIVATE CRE         | Blackstone Private Credit Fund             | CUSIP: 09261HAD9<br>LEI: 549300ORP3TTCNXSYO43 | Long             | DBT              | CORP              | US        |   1256000 | PA      | $1228720.48   | 1.45%             | 2026-12-15      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE PRIVATE CRE         | Blackstone Private Credit Fund             | CUSIP: 09261HBC0<br>LEI: 549300ORP3TTCNXSYO43 | Long             | DBT              | CORP              | US        |    643000 | PA      | $683775.05    | 0.81%             | 2028-11-27      | Fixed         | 7.30%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE PRIVATE CRE         | Blackstone Private Credit Fund             | CUSIP: 09261HBR7<br>LEI: 549300ORP3TTCNXSYO43 | Long             | DBT              | CORP              | US        |    388000 | PA      | $389840.35    | 0.46%             | 2027-09-26      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| GOLUB CAPITAL CAP FND          | Golub Capital Private Credit Fund          | CUSIP: 38179RAE5<br>LEI: 254900B5KBW6OY1F9951 | Long             | DBT              | CORP              | US        |    651000 | PA      | $654512.82    | 0.77%             | 2028-08-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| HPS CORPORATE LENDING FU       | HPS Corporate Lending Fund                 | CUSIP: 40440VAH8<br>LEI: 549300ZS7IHUA6FKFV61 | Long             | DBT              | CORP              | US        |    932000 | PA      | $939239.55    | 1.11%             | 2028-01-14      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| HPS CORPORATE LENDING FU       | HPS Corporate Lending Fund                 | CUSIP: 40440VAN5<br>LEI: 549300ZS7IHUA6FKFV61 | Long             | DBT              | CORP              | US        |    640000 | PA      | $646219.46    | 0.76%             | 2030-06-05      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| HERCULES CAPITAL INC           | Hercules Capital Inc                       | CUSIP: 427096AH5<br>LEI: 549300UJ5OC256GR2B73 | Long             | DBT              | CORP              | US        |    429000 | PA      | $421304.48    | 0.50%             | 2026-09-16      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| NEW MOUNTAIN FINANCE COR       | New Mountain Finance Corp                  | CUSIP: 647551AF7<br>LEI: 549300L1MPTT1H7SES77 | Long             | DBT              | CORP              | US        |    510000 | PA      | $519068.06    | 0.61%             | 2029-02-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| NUVEEN CHURCHILL DIRECT        | Nuveen Churchill Direct Lending Corp       | CUSIP: 67090SAA6<br>LEI: 254900X3ULEP6XX7HG39 | Long             | DBT              | CORP              | US        |    519000 | PA      | $533849.26    | 0.63%             | 2030-03-15      | Fixed         | 6.65%                 | No            |                  2 | On Loan: No      |
| BLUE OWL CREDIT INCOME         | Blue Owl Credit Income Corp                | CUSIP: 09581CAB7<br>LEI: 5493003I42XBWPE05N35 | Long             | DBT              | CORP              | US        |   1100000 | PA      | $1137765.46   | 1.35%             | 2029-09-15      | Fixed         | 6.60%                 | No            |                  2 | On Loan: No      |
| BLUE OWL CAPITAL CORP          | Blue Owl Capital Corp                      | CUSIP: 69121KAG9<br>LEI: 2549000BD79OOCPF2L94 | Long             | DBT              | CORP              | US        |   1056000 | PA      | $997194.67    | 1.18%             | 2028-06-11      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| ARES CAPITAL CORP              | Ares Capital Corp                          | CUSIP: 04010LBH5<br>LEI: WEQ82666OJYSI5GUAB47 | Long             | DBT              | CORP              | US        |    925000 | PA      | $933235.65    | 1.10%             | 2032-03-08      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| HPS CORPORATE LENDING FU       | HPS Corporate Lending Fund                 | CUSIP: 40440VAC9<br>LEI: 549300ZS7IHUA6FKFV61 | Long             | DBT              | CORP              | US        |    519000 | PA      | $533641.42    | 0.63%             | 2029-09-30      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| MAIN STREET CAPITAL CORP       | Main Street Capital Corp                   | CUSIP: 56035LAK0<br>LEI: 5493001FS9QJLJNF3E20 | Long             | DBT              | CORP              | US        |    450000 | PA      | $449862.78    | 0.53%             | 2028-08-15      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY DIRECT          | Morgan Stanley Direct Lending Fund         | CUSIP: 61774AAF0<br>LEI: 549300QEX22T2J8IB029 | Long             | DBT              | CORP              | US        |    461000 | PA      | $473780.20    | 0.56%             | 2029-05-17      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| BLUE OWL CREDIT INCOME         | Blue Owl Credit Income Corp                | CUSIP: 69120VAF8<br>LEI: 5493003I42XBWPE05N35 | Long             | DBT              | CORP              | US        |    616000 | PA      | $613757.18    | 0.73%             | 2027-02-08      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| BLUE OWL CAPITAL CORP          | Blue Owl Capital Corp                      | CUSIP: 69121KAF1<br>LEI: 2549000BD79OOCPF2L94 | Long             | DBT              | CORP              | US        |    624000 | PA      | $607861.79    | 0.72%             | 2027-01-15      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| SIXTH STREET LENDING PAR       | Sixth Street Lending Partners              | CUSIP: 829932AE2<br>LEI: 549300S9P1HMDERGCR64 | Long             | DBT              | CORP              | US        |    943000 | PA      | $969195.16    | 1.15%             | 2030-07-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| GOLUB CAPITAL BDC              | Golub Capital BDC Inc                      | CUSIP: 38173MAD4<br>LEI: 2549005WE0QLGK9APF78 | Long             | DBT              | CORP              | US        |    555000 | PA      | $581700.32    | 0.69%             | 2028-12-05      | Fixed         | 7.05%                 | No            |                  2 | On Loan: No      |
| GOLUB CAPITAL BDC              | Golub Capital BDC Inc                      | CUSIP: 38173MAE2<br>LEI: 2549005WE0QLGK9APF78 | Long             | DBT              | CORP              | US        |    943000 | PA      | $957339.26    | 1.13%             | 2029-07-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GOLUB CAPITAL CAP FND          | Golub Capital Private Credit Fund          | CUSIP: 38179RAB1<br>LEI: 254900B5KBW6OY1F9951 | Long             | DBT              | CORP              | US        |    662000 | PA      | $672130.20    | 0.80%             | 2029-09-12      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| GOLUB CAPITAL CAP FND          | Golub Capital Private Credit Fund          | CUSIP: 38179RAD7<br>LEI: 254900B5KBW6OY1F9951 | Long             | DBT              | CORP              | US        |    660000 | PA      | $670657.84    | 0.79%             | 2030-05-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| ARES CAPITAL CORP              | Ares Capital Corp                          | CUSIP: 04010LBA0<br>LEI: WEQ82666OJYSI5GUAB47 | Long             | DBT              | CORP              | US        |    892000 | PA      | $878367.74    | 1.04%             | 2026-07-15      | Fixed         | 2.15%                 | No            |                  2 | On Loan: No      |
| ARES CAPITAL CORP              | Ares Capital Corp                          | CUSIP: 04010LBC6<br>LEI: WEQ82666OJYSI5GUAB47 | Long             | DBT              | CORP              | US        |    620000 | PA      | $548372.79    | 0.65%             | 2031-11-15      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| BAIN CAPITAL SPECIALTY F       | Bain Capital Specialty Finance Inc         | CUSIP: 05684BAD9<br>LEI: 549300V2JL72R0EYBK64 | Long             | DBT              | CORP              | US        |    508000 | PA      | $506345.99    | 0.60%             | 2030-03-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| BLACKROCK TCP CAP CORP         | BlackRock TCP Capital Corp                 | CUSIP: 09259EAB4<br>LEI: 549300JU1XG1HF56J989 | Long             | DBT              | CORP              | US        |    427000 | PA      | $423070.10    | 0.50%             | 2026-02-09      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| HPS CORPORATE LENDING FU       | HPS Corporate Lending Fund                 | CUSIP: 40440VAF2<br>LEI: 549300ZS7IHUA6FKFV61 | Long             | DBT              | CORP              | US        |    673000 | PA      | $699931.40    | 0.83%             | 2029-01-30      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| PROSPECT CAPITAL CORP          | Prospect Capital Corp                      | CUSIP: 74348TAW2<br>LEI: 549300FSD8T39P5Q0O47 | Long             | DBT              | CORP              | US        |    434000 | PA      | $390775.12    | 0.46%             | 2028-10-15      | Fixed         | 3.44%                 | No            |                  2 | On Loan: No      |
| ARES CAPITAL CORP              | Ares Capital Corp                          | CUSIP: 04010LBB8<br>LEI: WEQ82666OJYSI5GUAB47 | Long             | DBT              | CORP              | US        |   1121000 | PA      | $1067326.98   | 1.26%             | 2028-06-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| ARES STRATEGIC INCOME FU       | Ares Strategic Income Fund                 | CUSIP: 04020EAB3<br>LEI: 549300IANZJVZPTICV54 | Long             | DBT              | CORP              | US        |    842000 | PA      | $868300.38    | 1.03%             | 2029-08-15      | Fixed         | 6.35%                 | No            |                  2 | On Loan: No      |
| BARINGS PRIVATE CREDIT         | Barings Private Credit Corp                | CUSIP: 06763AAA9<br>LEI: 549300K2GGNA2FQFQL45 | Long             | DBT              | CORP              | US        |    626000 | PA      | $621264.77    | 0.73%             | 2030-06-11      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE SECURED LEND        | Blackstone Secured Lending Fund            | CUSIP: 09261XAD4<br>LEI: 549300KM7KWQHVBNH962 | Long             | DBT              | CORP              | US        |    778000 | PA      | $752459.78    | 0.89%             | 2027-02-15      | Fixed         | 2.12%                 | No            |                  2 | On Loan: No      |
| BLUE OWL CREDIT INCOME         | Blue Owl Credit Income Corp                | CUSIP: 09581CAD3<br>LEI: 5493003I42XBWPE05N35 | Long             | DBT              | CORP              | US        |   1228000 | PA      | $1235083.37   | 1.46%             | 2030-03-15      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| FS KKR CAPITAL CORP            | FS KKR Capital Corp                        | CUSIP: 302635AM9<br>LEI: 549300TYRSI1T21B1360 | Long             | DBT              | CORP              | US        |    513000 | PA      | $536516.33    | 0.63%             | 2029-01-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| GOLUB CAPITAL BDC              | Golub Capital BDC Inc                      | CUSIP: 38173MAB8<br>LEI: 2549005WE0QLGK9APF78 | Long             | DBT              | CORP              | US        |    775000 | PA      | $761173.23    | 0.90%             | 2026-08-24      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| MAIN STREET CAPITAL CORP       | Main Street Capital Corp                   | CUSIP: 56035LAH7<br>LEI: 5493001FS9QJLJNF3E20 | Long             | DBT              | CORP              | US        |    455000 | PA      | $474433.84    | 0.56%             | 2029-03-01      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| NORTH HAVEN PRIVATE INC        | North Haven Private Income Fund LLC        | CUSIP: 65960NAB6<br>LEI: 2549002BFPESF1EH2765 | Long             | DBT              | CORP              | US        |    510000 | PA      | $510702.62    | 0.60%             | 2030-02-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| BLUE OWL TECHNOLOGY FINA       | Blue Owl Technology Finance Corp           | CUSIP: 691205AG3<br>LEI: 254900G5EZJSOD3UKL16 | Long             | DBT              | CORP              | US        |    428000 | PA      | $414564.36    | 0.49%             | 2027-01-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| OAKTREE STRATEGIC CREDIT       | Oaktree Strategic Credit Fund              | CUSIP: 67403AAF6<br>LEI: 2549006RRE0JC7G43241 | Long             | DBT              | CORP              | US        |    524000 | PA      | $528176.82    | 0.62%             | 2030-07-15      | Fixed         | 6.19%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE SECURED LEND        | Blackstone Secured Lending Fund            | CUSIP: 09261XAH5<br>LEI: 549300KM7KWQHVBNH962 | Long             | DBT              | CORP              | US        |    514000 | PA      | $524588.13    | 0.62%             | 2027-11-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| BLUE OWL TECHNOLOGY FINA       | Blue Owl Technology Finance Corp           | CUSIP: 691205AE8<br>LEI: 254900G5EZJSOD3UKL16 | Long             | DBT              | CORP              | US        |    486000 | PA      | $482099.57    | 0.57%             | 2026-06-17      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| BLUE OWL CREDIT INCOME         | Blue Owl Credit Income Corp                | CUSIP: 69120VAW1<br>LEI: 5493003I42XBWPE05N35 | Long             | DBT              | CORP              | US        |    673000 | PA      | $717068.44    | 0.85%             | 2029-01-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| BLUE OWL TECHNOLOGY FINA       | Blue Owl Technology Finance Corp           | CUSIP: 69121JAB3<br>LEI: 254900G5EZJSOD3UKL16 | Long             | DBT              | CORP              | US        |    965000 | PA      | $986431.86    | 1.17%             | 2029-04-04      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| BLUE OWL CAPITAL CORP          | Blue Owl Capital Corp                      | CUSIP: 69121KAD6<br>LEI: 2549000BD79OOCPF2L94 | Long             | DBT              | CORP              | US        |    630000 | PA      | $629533.21    | 0.74%             | 2026-01-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| APOLLO DEBT SOLUTIONS BD       | Apollo Debt Solutions BDC                  | CUSIP: 03770DAB9<br>LEI: 549300UMUGX092P8DW87 | Long             | DBT              | CORP              | US        |   1264000 | PA      | $1323561.90   | 1.57%             | 2029-04-13      | Fixed         | 6.90%                 | No            |                  2 | On Loan: No      |
| APOLLO DEBT SOLUTIONS BD       | Apollo Debt Solutions BDC                  | CUSIP: 03770DAD5<br>LEI: 549300UMUGX092P8DW87 | Long             | DBT              | CORP              | US        |   1248000 | PA      | $1313487.56   | 1.55%             | 2031-07-29      | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| ARES CAPITAL CORP              | Ares Capital Corp                          | CUSIP: 04010LBF9<br>LEI: WEQ82666OJYSI5GUAB47 | Long             | DBT              | CORP              | US        |    921000 | PA      | $942860.55    | 1.12%             | 2029-03-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| ARES CAPITAL CORP              | Ares Capital Corp                          | CUSIP: 04010LBG7<br>LEI: WEQ82666OJYSI5GUAB47 | Long             | DBT              | CORP              | US        |    758000 | PA      | $777863.72    | 0.92%             | 2029-07-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| BARINGS BDC INC                | Barings BDC Inc                            | CUSIP: 06759LAD5<br>LEI: 549300GSF4KFZP6ONG49 | Long             | DBT              | CORP              | US        |    412000 | PA      | $425945.91    | 0.50%             | 2029-02-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE PRIVATE CRE         | Blackstone Private Credit Fund             | CUSIP: 09261HAR8<br>LEI: 549300ORP3TTCNXSYO43 | Long             | DBT              | CORP              | US        |    655000 | PA      | $636895.38    | 0.75%             | 2029-01-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE PRIVATE CRE         | Blackstone Private Credit Fund             | CUSIP: 09261HBN6<br>LEI: 549300ORP3TTCNXSYO43 | Long             | DBT              | CORP              | US        |    506000 | PA      | $517237.57    | 0.61%             | 2029-07-16      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE PRIVATE CRE         | Blackstone Private Credit Fund             | CUSIP: 09261HBS5<br>LEI: 549300ORP3TTCNXSYO43 | Long             | DBT              | CORP              | US        |    387000 | PA      | $385470.01    | 0.46%             | 2030-04-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| BLUE OWL CREDIT INCOME         | Blue Owl Credit Income Corp                | CUSIP: 09581CAE1<br>LEI: 5493003I42XBWPE05N35 | Long             | DBT              | CORP              | US        |    613000 | PA      | $623868.18    | 0.74%             | 2028-05-23      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| FS KKR CAPITAL CORP            | FS KKR Capital Corp                        | CUSIP: 302635AP2<br>LEI: 549300TYRSI1T21B1360 | Long             | DBT              | CORP              | US        |    861000 | PA      | $851276.72    | 1.01%             | 2030-01-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| OAKTREE SPECIALTY LEND         | Oaktree Specialty Lending Corp             | CUSIP: 67401PAC2<br>LEI: 549300J6MGCEU5928620 | Long             | DBT              | CORP              | US        |    482000 | PA      | $467577.42    | 0.55%             | 2027-01-15      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| BLUE OWL TECHNOLOGY FINA       | Blue Owl Technology Finance Corp           | CUSIP: 691205AC2<br>LEI: 254900G5EZJSOD3UKL16 | Long             | DBT              | CORP              | US        |    816000 | PA      | $815666.88    | 0.96%             | 2025-12-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| BLUE OWL CAPITAL CORP          | Blue Owl Capital Corp                      | CUSIP: 69121KAJ3<br>LEI: 2549000BD79OOCPF2L94 | Long             | DBT              | CORP              | US        |    644000 | PA      | $658978.35    | 0.78%             | 2030-07-15      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| ARES STRATEGIC INCOME FU       | Ares Strategic Income Fund                 | CUSIP: 04020EAD9<br>LEI: 549300IANZJVZPTICV54 | Long             | DBT              | CORP              | US        |    923000 | PA      | $928965.39    | 1.10%             | 2030-02-15      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| ARES STRATEGIC INCOME FU       | Ares Strategic Income Fund                 | CUSIP: 04020EAG2<br>LEI: 549300IANZJVZPTICV54 | Long             | DBT              | CORP              | US        |   1241000 | PA      | $1255725.87   | 1.49%             | 2028-03-15      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| ARES STRATEGIC INCOME FU       | Ares Strategic Income Fund                 | CUSIP: 04020EAK3<br>LEI: 549300IANZJVZPTICV54 | Long             | DBT              | CORP              | US        |    627000 | PA      | $632246.55    | 0.75%             | 2030-09-09      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| BARINGS BDC INC                | Barings BDC Inc                            | CUSIP: 06759LAC7<br>LEI: 549300GSF4KFZP6ONG49 | Long             | DBT              | CORP              | US        |    457000 | PA      | $449624.71    | 0.53%             | 2026-11-23      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| BLACKROCK TCP CAP CORP         | BlackRock TCP Capital Corp                 | CUSIP: 09259EAC2<br>LEI: 549300JU1XG1HF56J989 | Long             | DBT              | CORP              | US        |    476000 | PA      | $482175.04    | 0.57%             | 2029-05-30      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE SECURED LEND        | Blackstone Secured Lending Fund            | CUSIP: 09261XAG7<br>LEI: 549300KM7KWQHVBNH962 | Long             | DBT              | CORP              | US        |    796000 | PA      | $751086.38    | 0.89%             | 2028-09-30      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| FS KKR CAPITAL CORP            | FS KKR Capital Corp                        | CUSIP: 302635AK3<br>LEI: 549300TYRSI1T21B1360 | Long             | DBT              | CORP              | US        |    931000 | PA      | $860621.86    | 1.02%             | 2028-10-12      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| FRANKLIN BSP CAPITAL CO        | Franklin BSP Capital Corp                  | CUSIP: 35250VAB0<br>LEI: 549300KJEVMKATLINB36 | Long             | DBT              | CORP              | US        |    621000 | PA      | $641079.53    | 0.76%             | 2029-06-15      | Fixed         | 7.20%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS BDC INC          | Goldman Sachs BDC Inc                      | CUSIP: 38147UAD9<br>LEI: 6D01AGSGBNZIJSN77043 | Long             | DBT              | CORP              | US        |    671000 | PA      | $668231.49    | 0.79%             | 2026-01-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| BLUE OWL CREDIT INCOME         | Blue Owl Credit Income Corp                | CUSIP: 69120VAZ4<br>LEI: 5493003I42XBWPE05N35 | Long             | DBT              | CORP              | US        |    940000 | PA      | $976086.25    | 1.15%             | 2031-03-15      | Fixed         | 6.65%                 | No            |                  2 | On Loan: No      |
| BLUE OWL CREDIT INCOME         | Blue Owl Credit Income Corp                | CUSIP: 69120VBB6<br>LEI: 5493003I42XBWPE05N35 | Long             | DBT              | CORP              | US        |    800000 | PA      | $849684.57    | 1.01%             | 2028-06-13      | Fixed         | 7.95%                 | No            |                  2 | On Loan: No      |
| BLUE OWL CAPITAL CORP          | Blue Owl Capital Corp                      | CUSIP: 69121KAE4<br>LEI: 2549000BD79OOCPF2L94 | Long             | DBT              | CORP              | US        |   1248000 | PA      | $1236847.35   | 1.46%             | 2026-07-15      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| MAIN STREET CAPITAL CORP       | Main Street Capital Corp                   | CUSIP: 56035LAJ3<br>LEI: 5493001FS9QJLJNF3E20 | Long             | DBT              | CORP              | US        |    524000 | PA      | $534436.79    | 0.63%             | 2027-06-04      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY DIRECT          | Morgan Stanley Direct Lending Fund         | CUSIP: 61774AAD5<br>LEI: 549300QEX22T2J8IB029 | Long             | DBT              | CORP              | US        |    506000 | PA      | $504048.24    | 0.60%             | 2027-02-11      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| NEW MOUNTAIN FINANCE COR       | New Mountain Finance Corp                  | CUSIP: 647551AG5<br>LEI: 549300L1MPTT1H7SES77 | Long             | DBT              | CORP              | US        |    418000 | PA      | $424849.59    | 0.50%             | 2027-10-15      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| OAKTREE SPECIALTY LEND         | Oaktree Specialty Lending Corp             | CUSIP: 67401PAD0<br>LEI: 549300J6MGCEU5928620 | Long             | DBT              | CORP              | US        |    436000 | PA      | $448603.42    | 0.53%             | 2029-02-15      | Fixed         | 7.10%                 | No            |                  2 | On Loan: No      |
| OAKTREE STRATEGIC CREDIT       | Oaktree Strategic Credit Fund              | CUSIP: 67403AAB5<br>LEI: 2549006RRE0JC7G43241 | Long             | DBT              | CORP              | US        |    459000 | PA      | $495234.12    | 0.59%             | 2028-11-14      | Fixed         | 8.40%                 | No            |                  2 | On Loan: No      |
| SIXTH STREET LENDING PAR       | Sixth Street Lending Partners              | CUSIP: 829932AD4<br>LEI: 549300S9P1HMDERGCR64 | Long             | DBT              | CORP              | US        |    778000 | PA      | $788792.43    | 0.93%             | 2030-01-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE PRIVATE CRE         | Blackstone Private Credit Fund             | CUSIP: 09261HBG1<br>LEI: 549300ORP3TTCNXSYO43 | Long             | DBT              | CORP              | US        |    500000 | PA      | $519151.94    | 0.61%             | 2031-01-25      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE PRIVATE CRE         | Blackstone Private Credit Fund             | CUSIP: 09261HBX4<br>LEI: 549300ORP3TTCNXSYO43 | Long             | DBT              | CORP              | US        |   1021000 | PA      | $1045225.95   | 1.24%             | 2032-01-29      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE SECURED LEND        | Blackstone Secured Lending Fund            | CUSIP: 09261XAJ1<br>LEI: 549300KM7KWQHVBNH962 | Long             | DBT              | CORP              | US        |    855000 | PA      | $864336.97    | 1.02%             | 2028-04-13      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE SECURED LEND        | Blackstone Secured Lending Fund            | CUSIP: 09261XAK8<br>LEI: 549300KM7KWQHVBNH962 | Long             | DBT              | CORP              | US        |    641000 | PA      | $641997.90    | 0.76%             | 2030-06-30      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE PRIVATE CRE         | Blackstone Private Credit Fund             | CUSIP: 09261HBU0<br>LEI: 549300ORP3TTCNXSYO43 | Long             | DBT              | CORP              | US        |    387000 | PA      | $391450.86    | 0.46%             | 2029-11-22      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE PRIVATE CRE         | Blackstone Private Credit Fund             | CUSIP: 09261HBW6<br>LEI: 549300ORP3TTCNXSYO43 | Long             | DBT              | CORP              | US        |    811000 | PA      | $822308.69    | 0.97%             | 2034-11-22      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE SECURED LEND        | Blackstone Secured Lending Fund            | CUSIP: 09261LAC2<br>LEI: 549300KM7KWQHVBNH962 | Long             | DBT              | CORP              | US        |    993000 | PA      | $991341.85    | 1.17%             | 2026-01-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE SECURED LEND        | Blackstone Secured Lending Fund            | CUSIP: 09261XAB8<br>LEI: 549300KM7KWQHVBNH962 | Long             | DBT              | CORP              | US        |    865000 | PA      | $853620.63    | 1.01%             | 2026-09-16      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| BLUE OWL TECHNOLOGY FINA       | Blue Owl Technology Finance Corp           | CUSIP: 095924AA4<br>LEI: 254900G5EZJSOD3UKL16 | Long             | DBT              | CORP              | US        |    829000 | PA      | $835362.04    | 0.99%             | 2028-03-15      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| FS KKR CAPITAL CORP            | FS KKR Capital Corp                        | CUSIP: 302635AH0<br>LEI: 549300TYRSI1T21B1360 | Long             | DBT              | CORP              | US        |    511000 | PA      | $493768.26    | 0.58%             | 2027-01-15      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| FS KKR CAPITAL CORP            | FS KKR Capital Corp                        | CUSIP: 302635AL1<br>LEI: 549300TYRSI1T21B1360 | Long             | DBT              | CORP              | US        |    630000 | PA      | $604946.92    | 0.72%             | 2027-07-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| APOLLO DEBT SOLUTIONS BD       | Apollo Debt Solutions BDC                  | CUSIP: 03770DAE3<br>LEI: 549300UMUGX092P8DW87 | Long             | DBT              | CORP              | US        |    655000 | PA      | $680365.04    | 0.80%             | 2032-03-15      | Fixed         | 6.55%                 | No            |                  2 | On Loan: No      |
| APOLLO DEBT SOLUTIONS BD       | Apollo Debt Solutions BDC                  | CUSIP: 03770DAG8<br>LEI: 549300UMUGX092P8DW87 | Long             | DBT              | CORP              | US        |    511000 | PA      | $516834.47    | 0.61%             | 2030-08-30      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| ARES CAPITAL CORP              | Ares Capital Corp                          | CUSIP: 04010LBK8<br>LEI: WEQ82666OJYSI5GUAB47 | Long             | DBT              | CORP              | US        |    674000 | PA      | $679281.67    | 0.80%             | 2030-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FS KKR CAPITAL CORP            | FS KKR Capital Corp                        | CUSIP: 302635AN7<br>LEI: 549300TYRSI1T21B1360 | Long             | DBT              | CORP              | US        |    732000 | PA      | $742414.76    | 0.88%             | 2029-08-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS BDC INC          | Goldman Sachs BDC Inc                      | CUSIP: 38147UAE7<br>LEI: 6D01AGSGBNZIJSN77043 | Long             | DBT              | CORP              | US        |    545000 | PA      | $555778.10    | 0.66%             | 2027-03-11      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| ARES STRATEGIC INCOME FU       | Ares Strategic Income Fund                 | CUSIP: 04020EAJ6<br>LEI: 549300IANZJVZPTICV54 | Long             | DBT              | CORP              | US        |    927000 | PA      | $945999.28    | 1.12%             | 2032-03-21      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| ARES STRATEGIC INCOME FU       | Ares Strategic Income Fund                 | CUSIP: 04020EAL1<br>LEI: 549300IANZJVZPTICV54 | Long             | DBT              | CORP              | US        |    751000 | PA      | $754226.45    | 0.89%             | 2028-09-09      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| BAIN CAPITAL SPECIALTY F       | Bain Capital Specialty Finance Inc         | CUSIP: 05684BAC1<br>LEI: 549300V2JL72R0EYBK64 | Long             | DBT              | CORP              | US        |    407000 | PA      | $399224.96    | 0.47%             | 2026-10-13      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE PRIVATE CRE         | Blackstone Private Credit Fund             | CUSIP: 09261HAK3<br>LEI: 549300ORP3TTCNXSYO43 | Long             | DBT              | CORP              | US        |   1006000 | PA      | $987322.23    | 1.17%             | 2027-03-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| First American Government Obli | First American Government Obligations Fund | CUSIP: 31846V336<br>LEI: 549300R5MYM6VZF1RM44 | Long             | STIV             | RF                | US        |   1683230 | NS      | $1683230.01   | 1.99%             |  |  |  | No            |                  1 | On Loan: No      |
| GOLDMAN SACHS PRIVATE CR       | Goldman Sachs Private Credit Corp          | CUSIP: 38152BAC5<br>LEI: 549300TD27G6372IYJ65 | Long             | DBT              | CORP              | US        |    798000 | PA      | $816113.81    | 0.97%             | 2030-05-06      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| GOLUB CAPITAL BDC              | Golub Capital BDC Inc                      | CUSIP: 38173MAC6<br>LEI: 2549005WE0QLGK9APF78 | Long             | DBT              | CORP              | US        |    528000 | PA      | $509540.36    | 0.60%             | 2027-02-15      | Fixed         | 2.05%                 | No            |                  2 | On Loan: No      |
| HPS CORPORATE LENDING FU       | HPS Corporate Lending Fund                 | CUSIP: 40440VAL9<br>LEI: 549300ZS7IHUA6FKFV61 | Long             | DBT              | CORP              | US        |    511000 | PA      | $512908.48    | 0.61%             | 2027-06-05      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| MSD INVESTMENT CORP            | MSD Investment Corp                        | CUSIP: 55354LAA7<br>LEI: 549300K4HV7AOWFSAO65 | Long             | DBT              | CORP              | US        |    753000 | PA      | $758749.43    | 0.90%             | 2030-05-31      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY DIRECT          | Morgan Stanley Direct Lending Fund         | CUSIP: 61774AAG8<br>LEI: 549300QEX22T2J8IB029 | Long             | DBT              | CORP              | US        |    465000 | PA      | $475625.35    | 0.56%             | 2030-05-19      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| OAKTREE SPECIALTY LEND         | Oaktree Specialty Lending Corp             | CUSIP: 67401PAE8<br>LEI: 549300J6MGCEU5928620 | Long             | DBT              | CORP              | US        |    437000 | PA      | $438954.17    | 0.52%             | 2030-02-27      | Fixed         | 6.34%                 | No            |                  2 | On Loan: No      |
| BLUE OWL CAPITAL CORP          | Blue Owl Capital Corp                      | CUSIP: 69121KAH7<br>LEI: 2549000BD79OOCPF2L94 | Long             | DBT              | CORP              | US        |   1233000 | PA      | $1249708.24   | 1.48%             | 2029-03-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| PROSPECT CAPITAL CORP          | Prospect Capital Corp                      | CUSIP: 74348TAV4<br>LEI: 549300FSD8T39P5Q0O47 | Long             | DBT              | CORP              | US        |    454000 | PA      | $440096.39    | 0.52%             | 2026-11-15      | Fixed         | 3.36%                 | No            |                  2 | On Loan: No      |
| SIXTH STREET LENDING PAR       | Sixth Street Lending Partners              | CUSIP: 829932AB8<br>LEI: 549300S9P1HMDERGCR64 | Long             | DBT              | CORP              | US        |    955000 | PA      | $990534.99    | 1.17%             | 2029-03-11      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| CARLYLE SECURED LENDING        | Carlyle Secured Lending Inc                | CUSIP: 872280AA0<br>LEI: 5493003POT0JT6WD1D83 | Long             | DBT              | CORP              | US        |    506000 | PA      | $519922.47    | 0.61%             | 2030-02-18      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| HERCULES CAPITAL INC           | Hercules Capital Inc                       | CUSIP: 427096AN2<br>LEI: 549300UJ5OC256GR2B73 | Long             | DBT              | CORP              | US        |    461000 | PA      | $466937.49    | 0.55%             | 2030-06-16      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| OAKTREE STRATEGIC CREDIT       | Oaktree Strategic Credit Fund              | CUSIP: 67403AAE9<br>LEI: 2549006RRE0JC7G43241 | Long             | DBT              | CORP              | US        |    527000 | PA      | $541816.14    | 0.64%             | 2029-07-23      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| BLUE OWL CREDIT INCOME         | Blue Owl Credit Income Corp                | CUSIP: 69120VAM3<br>LEI: 5493003I42XBWPE05N35 | Long             | DBT              | CORP              | US        |    417000 | PA      | $411404.92    | 0.49%             | 2026-09-23      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| BLUE OWL CREDIT INCOME         | Blue Owl Credit Income Corp                | CUSIP: 69120VAP6<br>LEI: 5493003I42XBWPE05N35 | Long             | DBT              | CORP              | US        |    748000 | PA      | $782245.22    | 0.93%             | 2027-09-16      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS PRIVATE CR       | Goldman Sachs Private Credit Corp          | CUSIP: 38152BAA9<br>LEI: 549300TD27G6372IYJ65 | Long             | DBT              | CORP              | US        |    532000 | PA      | $540208.63    | 0.64%             | 2028-05-06      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| HPS CORPORATE LENDING FU       | HPS Corporate Lending Fund                 | CUSIP: 40440VAK1<br>LEI: 549300ZS7IHUA6FKFV61 | Long             | DBT              | CORP              | US        |    649000 | PA      | $652388.65    | 0.77%             | 2032-04-14      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| HERCULES CAPITAL INC           | Hercules Capital Inc                       | CUSIP: 427096AJ1<br>LEI: 549300UJ5OC256GR2B73 | Long             | DBT              | CORP              | US        |    477000 | PA      | $467881.77    | 0.55%             | 2027-01-20      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| MAIN STREET CAPITAL CORP       | Main Street Capital Corp                   | CUSIP: 56035LAE4<br>LEI: 5493001FS9QJLJNF3E20 | Long             | DBT              | CORP              | US        |    652000 | PA      | $644478.64    | 0.76%             | 2026-07-14      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| BLUE OWL CAPITAL CORP II       | Blue Owl Capital Corp II                   | CUSIP: 69121DAD2<br>LEI: 549300MMNWZO5XKDDX47 | Long             | DBT              | CORP              | US        |    548000 | PA      | $566032.62    | 0.67%             | 2026-11-15      | Fixed         | 8.45%                 | No            |                  2 | On Loan: No      |
| BLUE OWL CAPITAL CORP          | Blue Owl Capital Corp                      | CUSIP: 69122JAC0<br>LEI: 2549000BD79OOCPF2L94 | Long             | DBT              | CORP              | US        |    528000 | PA      | $514532.73    | 0.61%             | 2027-04-13      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-12-30

**Name of Applicant:** Tidal Trust II

**Signature:** /s/ Aaron Perkovich

**Name of Signer:** Aaron Perkovich

**Title:** Treasurer/Principal Financial Officer