# EDGAR Filing Document

**Accession Number:** 0001924868
**File Stem:** 0002000324-25-002191
**Filing Date:** 2025-6
**Character Count:** 20514
**Document Hash:** ae3bd51a519f168d5f75b32146ff071a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002000324-25-002191.hdr.sgml**: 20250626

**ACCESSION NUMBER**: 0002000324-25-002191

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250430

**FILED AS OF DATE**: 20250626

**DATE AS OF CHANGE**: 20250626

**PERIOD START**: 20260131

**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:** 251077498

**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

### iREIT(R) - MarketVector Quality REIT Index ETF (Series ID: S000083963)

| Class ID   | Class Name                                     | Ticker Symbol   |
|:---|:---|:---|
| C000248082 | iREIT(R) - MarketVector Quality REIT Index ETF | IRET            |

## Nport-Ex

**iREIT - MarketVector Quality REIT Index ETF**

**Schedule of Investments**

**April 30, 2025 (Unaudited)**

---

| | | |
|:---|:---|:---|
| **REAL ESTATE INVESTMENT TRUSTS - 98.9%** | **Shares** | **Value** |
| Alexandria Real Estate Equities, Inc. | 1499 | $108917 |
| American Tower Corp. | 714 | 160943 |
| Americold Realty Trust, Inc. | 3513 | 67941 |
| CareTrust REIT, Inc. | 5467 | 160019 |
| Centerspace | 1162 | 70138 |
| CubeSmart | 3551 | 144419 |
| EastGroup Properties, Inc. | 816 | 133351 |
| EPR Properties | 2866 | 141838 |
| Equity LifeStyle Properties, Inc. | 2211 | 143229 |
| Extra Space Storage, Inc. | 495 | 72527 |
| Federal Realty Investment Trust | 1520 | 142910 |
| First Industrial Realty Trust, Inc. | 2633 | 125278 |
| Healthpeak Properties, Inc. | 3655 | 65205 |
| Host Hotels & Resorts, Inc. | 9773 | 137995 |
| Innovative Industrial Properties, Inc. | 2091 | 113562 |
| Invitation Homes, Inc. | 4461 | 152522 |
| Kilroy Realty Corp. | 2242 | 70646 |
| Kimco Realty Corp. | 3538 | 70689 |
| Kite Realty Group Trust | 6743 | 145986 |
| LXP Industrial Trust | 8096 | 63878 |
| National Storage Affiliates Trust | 1987 | 73916 |
| NETSTREIT Corp. | 9904 | 161138 |
| NNN REIT, Inc. | 3509 | 144255 |
| Prologis, Inc. | 1276 | 130407 |
| Realty Income Corp. | 2620 | 151593 |
| Rexford Industrial Realty, Inc. | 3772 | 124853 |
| Ryman Hospitality Properties, Inc. | 1524 | 134036 |
| SBA Communications Corp. | 682 | 165999 |
| STAG Industrial, Inc. | 4084 | 134895 |
| Summit Hotel Properties, Inc. | 12752 | 51901 |
| Sun Communities, Inc. | 1153 | 143468 |
| Sunstone Hotel Investors, Inc. | 14886 | 124149 |
| Terreno Realty Corp. | 2209 | 124433 |
| UMH Properties, Inc. | 4127 | 72924 |
| VICI Properties, Inc. | 2301 | 73678 |
| WP Carey, Inc. | 1192 | 74429 |
|  |  | 4178067 |
| **TOTAL REAL ESTATE INVESTMENT TRUSTS** (Cost $4,555,863) |  | 4178067 |
| **SHORT-TERM INVESTMENTS - 1.1%** |  |  |
| **Money Market Funds - 1.1%** |  |  |
| First American Government Obligations Fund - Class X, 4.25% <sup>(a)</sup> | 46521 | 46521 |
| **TOTAL SHORT-TERM INVESTMENTS** (Cost $46,521) |  | 46521 |
| **TOTAL INVESTMENTS - 100.0%** (Cost $4,602,384) |  | 4224588 |
| Other Assets in Excess of Liabilities - 0.0% <sup>(b)</sup> |  | 1447 |
| **TOTAL NET ASSETS - 100.0%** |  | $4226035 |

---

Percentages are stated as a percent of net assets. –%

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

(b) Represents less than 0.05% of net assets.

**Summary of Fair Value Disclosure as of April 30, 2025 (Unaudited)**

iREIT - MarketVector Quality REIT Index ETF has adopted fair value accounting standards which establish a definition of fair value and set out a hierarchy for measuring fair value. These standards require additional disclosures about the various inputs and valuation techniques used to develop the measurements of fair value, a discussion of changes in valuation techniques and related inputs during the period, and expanded disclosure of valuation levels for major security types. These inputs are summarized in the three broad levels listed below. The inputs or valuation methodology used for valuing securities are not an indication of the risk associated with investing in those securities.

Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access.

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 speeds, credit risk, yield curves, default rates and similar data.

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 based on the best information available.

The following is a summary of the fair valuation hierarchy of the Fund's securities as of April 30, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **<u>Level 1</u>** | **<u>Level 2</u>** | **<u>Level 3</u>** | **<u>Total</u>** |
| <u>Investments:</u> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Real Estate Investment Trusts | $4178067 | $— | $— | $4178067 |
| &nbsp;&nbsp;&nbsp;&nbsp;Money Market Funds | 46521 |  |  | 46521 |
| Total Investments | $4224588 | $— | $— | $4224588 |

---

Refer to the Schedule of Investments for further disaggregation of investment categories.

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Tidal Trust II

- **b. Investment Company Act file number:** 811-23793

- **c. CIK number of Registrant:** 0001924868

- **d. LEI of Registrant:** 549300BGXECFCIZF2P89

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 234 West Florida Street

  - **City:** Milwaukee

  - **State:** WI

  - **Foreign country:** US

  - **Zip / Postal Code:** 53204

  - **Telephone number:** 8449867676

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

- **a. Name of Series:** iREIT - MarketVector Quality REIT Index ETF

- **b. EDGAR series identifier (if any):** S000083963

- **c. LEI of Series:** 2549007948FIQJ34QJ92

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

- **a. Date of fiscal year-end:** 2026-01-31

- **b. Date as of which information is reported:** 2025-04-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $4228085.49

**Total Liabilities:** $2050.09

**Net Assets:** $4226035.40

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000248082 | 2.05%                | -2.41%               | -4.76%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $98738.74                                  |
| Month 2  | $-35497.86               | $-128739.60                                |
| Month 3  | $0.00                    | $-220227.03                                |

**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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Alexandria Real Estate Equitie | Alexandria Real Estate Equities Inc        | CUSIP: 015271109<br>LEI: MGCJBT4MKTQBVLNUIS88 | Long             | EC               | CORP              | US        |      1499 | NS      | $108917.34    | 2.58%             |  |  |  | No            |                  1 | On Loan: No      |
| American Tower Corp            | American Tower Corp                        | CUSIP: 03027X100<br>LEI: 5493006ORUSIL88JOE18 | Long             | EC               | CORP              | US        |       714 | NS      | $160942.74    | 3.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Americold Realty Trust Inc     | Americold Realty Trust Inc                 | CUSIP: 03064D108<br>LEI: 894500O3S3W62PQPO460 | Long             | EC               | CORP              | US        |      3513 | NS      | $67941.42     | 1.61%             |  |  |  | No            |                  1 | On Loan: No      |
| CareTrust REIT Inc             | CareTrust REIT Inc                         | CUSIP: 14174T107<br>LEI: 5493001NVXE2B9GPLU96 | Long             | EC               | CORP              | US        |      5467 | NS      | $160019.09    | 3.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Centerspace                    | Centerspace                                | CUSIP: 15202L107<br>LEI: 5493002LG2SH9EEHT720 | Long             | EC               | CORP              | US        |      1162 | NS      | $70138.32     | 1.66%             |  |  |  | No            |                  1 | On Loan: No      |
| CubeSmart                      | CubeSmart                                  | CUSIP: 229663109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3551 | NS      | $144419.17    | 3.42%             |  |  |  | No            |                  1 | On Loan: No      |
| EastGroup Properties Inc       | EastGroup Properties Inc                   | CUSIP: 277276101<br>LEI: 31TIGQQZC4P6JMHKSW85 | Long             | EC               | CORP              | US        |       816 | NS      | $133350.72    | 3.16%             |  |  |  | No            |                  1 | On Loan: No      |
| EPR Properties                 | EPR Properties                             | CUSIP: 26884U109<br>LEI: 549300YSSXFHMPOWZ492 | Long             | EC               | CORP              | US        |      2866 | NS      | $141838.34    | 3.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Equity LifeStyle Properties In | Equity LifeStyle Properties Inc            | CUSIP: 29472R108<br>LEI: 529900PEQG66LENB6798 | Long             | EC               | CORP              | US        |      2211 | NS      | $143228.58    | 3.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Extra Space Storage Inc        | Extra Space Storage Inc                    | CUSIP: 30225T102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       495 | NS      | $72527.40     | 1.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Federal Realty Investment Trus | Federal Realty Investment Trust            | CUSIP: 313745101<br>LEI: 549300FHEI1SLVZ0RB48 | Long             | EC               | CORP              | US        |      1520 | NS      | $142910.40    | 3.38%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Government Obli | First American Government Obligations Fund | CUSIP: 31846V336<br>LEI: 549300R5MYM6VZF1RM44 | Long             | STIV             | RF                | US        |     46521 | NS      | $46521.09     | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| First Industrial Realty Trust  | First Industrial Realty Trust Inc          | CUSIP: 32054K103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2633 | NS      | $125278.14    | 2.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Healthpeak Properties Inc      | Healthpeak Properties Inc                  | CUSIP: 42250P103<br>LEI: 254900M6MTMZM0I22L81 | Long             | EC               | CORP              | US        |      3655 | NS      | $65205.20     | 1.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Host Hotels & Resorts Inc      | Host Hotels & Resorts Inc                  | CUSIP: 44107P104<br>LEI: N6EL63S0K3PB1YFTDI24 | Long             | EC               | CORP              | US        |      9773 | NS      | $137994.76    | 3.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Innovative Industrial Properti | Innovative Industrial Properties Inc       | CUSIP: 45781V101<br>LEI: 5493008BQ0545EZXRR30 | Long             | EC               | CORP              | US        |      2091 | NS      | $113562.21    | 2.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Invitation Homes Inc           | Invitation Homes Inc                       | CUSIP: 46187W107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4461 | NS      | $152521.59    | 3.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Kilroy Realty Corp             | Kilroy Realty Corp                         | CUSIP: 49427F108<br>LEI: 549300CXXI18B214UN80 | Long             | EC               | CORP              | US        |      2242 | NS      | $70645.42     | 1.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Kimco Realty Corp              | Kimco Realty Corp                          | CUSIP: 49446R109<br>LEI: 254900ARY41P4V1JL861 | Long             | EC               | CORP              | US        |      3538 | NS      | $70689.24     | 1.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Kite Realty Group Trust        | Kite Realty Group Trust                    | CUSIP: 49803T300<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6743 | NS      | $145985.95    | 3.45%             |  |  |  | No            |                  1 | On Loan: No      |
| LXP Industrial Trust           | LXP Industrial Trust                       | CUSIP: 529043101<br>LEI: 549300S4MH2ICXDBFV43 | Long             | EC               | CORP              | US        |      8096 | NS      | $63877.44     | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| National Storage Affiliates Tr | National Storage Affiliates Trust          | CUSIP: 637870106<br>LEI: 529900FS06O8GOYNR108 | Long             | EC               | CORP              | US        |      1987 | NS      | $73916.40     | 1.75%             |  |  |  | No            |                  1 | On Loan: No      |
| NETSTREIT Corp                 | NETSTREIT Corp                             | CUSIP: 64119V303<br>LEI: 254900CJL0EDMEQ25Q84 | Long             | EC               | CORP              | US        |      9904 | NS      | $161138.08    | 3.81%             |  |  |  | No            |                  1 | On Loan: No      |
| NNN REIT Inc                   | NNN REIT Inc                               | CUSIP: 637417106<br>LEI: 5493008JKH5SOTI0JS97 | Long             | EC               | CORP              | US        |      3509 | NS      | $144254.99    | 3.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Prologis Inc                   | Prologis Inc                               | CUSIP: 74340W103<br>LEI: 529900DFH19P073LZ636 | Long             | EC               | CORP              | US        |      1276 | NS      | $130407.20    | 3.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Realty Income Corp             | Realty Income Corp                         | CUSIP: 756109104<br>LEI: 549300CUWDAUZSH43859 | Long             | EC               | CORP              | US        |      2620 | NS      | $151593.20    | 3.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Rexford Industrial Realty Inc  | Rexford Industrial Realty Inc              | CUSIP: 76169C100<br>LEI: 549300MSLO0DF0EMX355 | Long             | EC               | CORP              | US        |      3772 | NS      | $124853.20    | 2.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Ryman Hospitality Properties I | Ryman Hospitality Properties Inc           | CUSIP: 78377T107<br>LEI: 529900GCCWW9SRMPJR11 | Long             | EC               | CORP              | US        |      1524 | NS      | $134035.80    | 3.17%             |  |  |  | No            |                  1 | On Loan: No      |
| SBA Communications Corp        | SBA Communications Corp                    | CUSIP: 78410G104<br>LEI: 5299001HX8ZN8Y8QIT49 | Long             | EC               | CORP              | US        |       682 | NS      | $165998.80    | 3.93%             |  |  |  | No            |                  1 | On Loan: No      |
| STAG Industrial Inc            | STAG Industrial Inc                        | CUSIP: 85254J102<br>LEI: 549300QWYX2W6FASVQ07 | Long             | EC               | CORP              | US        |      4084 | NS      | $134894.52    | 3.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Summit Hotel Properties Inc    | Summit Hotel Properties Inc                | CUSIP: 866082100<br>LEI: 254900OBQWJK6X20LS71 | Long             | EC               | CORP              | US        |     12752 | NS      | $51900.64     | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Sun Communities Inc            | Sun Communities Inc                        | CUSIP: 866674104<br>LEI: 549300H5GEOJYN41ZG57 | Long             | EC               | CORP              | US        |      1153 | NS      | $143467.79    | 3.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Sunstone Hotel Investors Inc   | Sunstone Hotel Investors Inc               | CUSIP: 867892101<br>LEI: 529900ZQ2V52V96ATF67 | Long             | EC               | CORP              | US        |     14886 | NS      | $124149.24    | 2.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Terreno Realty Corp            | Terreno Realty Corp                        | CUSIP: 88146M101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2209 | NS      | $124432.97    | 2.94%             |  |  |  | No            |                  1 | On Loan: No      |
| UMH Properties Inc             | UMH Properties Inc                         | CUSIP: 903002103<br>LEI: 529900OM5K3PJ11F0Q09 | Long             | EC               | CORP              | US        |      4127 | NS      | $72924.09     | 1.73%             |  |  |  | No            |                  1 | On Loan: No      |
| VICI Properties Inc            | VICI Properties Inc                        | CUSIP: 925652109<br>LEI: 254900RKH6RY9KCJQH63 | Long             | EC               | CORP              | US        |      2301 | NS      | $73678.02     | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |
| WP Carey Inc                   | WP Carey Inc                               | CUSIP: 92936U109<br>LEI: 54930042CRNE713E3Q67 | Long             | EC               | CORP              | US        |      1192 | NS      | $74428.48     | 1.76%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-06-26

**Name of Applicant:** Tidal Trust II

**Signature:** /s/ Aaron Perkovich

**Name of Signer:** Aaron Perkovich

**Title:** Treasurer/Principal Financial