# EDGAR Filing Document

**Accession Number:** 0001924868
**File Stem:** 0000894189-25-009723
**Filing Date:** 2025-9
**Character Count:** 74129
**Document Hash:** c88268ffe316fc36ad78c499daa0eaf2
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000894189-25-009723.hdr.sgml**: 20250929

**ACCESSION NUMBER**: 0000894189-25-009723

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250731

**FILED AS OF DATE**: 20250929

**DATE AS OF CHANGE**: 20250929

**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:** 251353541

**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

### YieldMax Ultra Option Income Strategy ETF (Series ID: S000084078)

| Class ID   | Class Name                                | Ticker Symbol   |
|:---|:---|:---|
| C000248338 | YieldMax Ultra Option Income Strategy ETF | ULTY            |

## Nport-Ex

---

| | | | |
|:---|:---|:---|:---|
| **YieldMax Ultra Option Income Strategy ETF** | **YieldMax Ultra Option Income Strategy ETF** | **YieldMax Ultra Option Income Strategy ETF** | **YieldMax Ultra Option Income Strategy ETF** |
| **Schedule of Investments** | **Schedule of Investments** | **Schedule of Investments** | **Schedule of Investments** |
| **July 31, 2025 (Unaudited)** | **July 31, 2025 (Unaudited)** | **July 31, 2025 (Unaudited)** | **July 31, 2025 (Unaudited)** |
| **COMMON STOCKS - 93.4%** | **COMMON STOCKS - 93.4%** | **Shares** | **Value**  |
| **Computers - 7.8%** | **Computers - 7.8%** | **Computers - 7.8%** | |
| Rigetti Computing, Inc. <sup>(a)(b)(c)</sup> | Rigetti Computing, Inc. <sup>(a)(b)(c)</sup> | 7873100 | $114159950 |
| Super Micro Computer, Inc. <sup>(a)(b)(c)</sup> | Super Micro Computer, Inc. <sup>(a)(b)(c)</sup> | 1533100 | 90406907 |
|  |  |  | 204566857 |
| **Diversified Financial Services - 17.6%** | **Diversified Financial Services - 17.6%** | **Diversified Financial Services - 17.6%** |  |
| BitMine Immersion Technologies, Inc. <sup>(a)(b)</sup> | BitMine Immersion Technologies, Inc. <sup>(a)(b)</sup> | 2503000 | 86703920 |
| Coinbase Global, Inc. - Class A <sup>(a)(b)(c)</sup> | Coinbase Global, Inc. - Class A <sup>(a)(b)(c)</sup> | 336100 | 126965136 |
| Galaxy Digital, Inc. - Class A <sup>(a)(b)(c)</sup> | Galaxy Digital, Inc. - Class A <sup>(a)(b)(c)</sup> | 3097100 | 88004096 |
| Upstart Holdings, Inc. <sup>(a)(b)(c)</sup> | Upstart Holdings, Inc. <sup>(a)(b)(c)</sup> | 1524700 | 124628978 |
| Webull Corp. <sup>(a)(b)</sup> | Webull Corp. <sup>(a)(b)</sup> | 2500000 | 35475000 |
|  |  |  | 461777130 |
| **Electric - 5.8%** | **Electric - 5.8%** | **Electric - 5.8%** |  |
| Oklo, Inc. <sup>(a)(b)(c)</sup> | Oklo, Inc. <sup>(a)(b)(c)</sup> | 1239200 | 94910328 |
| Vistra Corp. <sup>(b)(c)</sup> | Vistra Corp. <sup>(b)(c)</sup> | 277200 | 57807288 |
|  |  |  | 152717616 |
| **Electronics - 3.3%** | **Electronics - 3.3%** | **Electronics - 3.3%** |  |
| Applied Optoelectronics, Inc. <sup>(a)(b)(c)</sup> | Applied Optoelectronics, Inc. <sup>(a)(b)(c)</sup> | 3752600 | 85821962 |
| **Energy-Alternate Sources - 4.5%** | **Energy-Alternate Sources - 4.5%** | **Energy-Alternate Sources - 4.5%** |  |
| First Solar, Inc. <sup>(a)(b)(c)</sup> | First Solar, Inc. <sup>(a)(b)(c)</sup> | 679700 | 118763981 |
| **Healthcare-Products - 2.5%** | **Healthcare-Products - 2.5%** | **Healthcare-Products - 2.5%** |  |
| Tempus AI, Inc. <sup>(a)(b)(c)</sup> | Tempus AI, Inc. <sup>(a)(b)(c)</sup> | 1159100 | 65593469 |
| **Internet - 11.3%** | **Internet - 11.3%** | **Internet - 11.3%** |  |
| Reddit, Inc. - Class A <sup>(a)(b)(c)</sup> | Reddit, Inc. - Class A <sup>(a)(b)(c)</sup> | 902900 | 144996711 |
| Robinhood Markets, Inc. - Class A <sup>(a)(b)(c)</sup> | Robinhood Markets, Inc. - Class A <sup>(a)(b)(c)</sup> | 845300 | 87108165 |
| Snap, Inc. - Class A <sup>(a)(b)(c)</sup> | Snap, Inc. - Class A <sup>(a)(b)(c)</sup> | 6837900 | 64481397 |
|  |  |  | 296586273 |
| **Investment Companies - 4.0%** | **Investment Companies - 4.0%** | **Investment Companies - 4.0%** |  |
| MARA Holdings, Inc. <sup>(a)(b)(c)</sup> | MARA Holdings, Inc. <sup>(a)(b)(c)</sup> | 6555100 | 105406008 |
| **Machinery-Construction & Mining - 7.2%** | **Machinery-Construction & Mining - 7.2%** | **Machinery-Construction & Mining - 7.2%** |  |
| NuScale Power Corp. <sup>(a)(b)(c)</sup> | NuScale Power Corp. <sup>(a)(b)(c)</sup> | 2537200 | 127392812 |
| Vertiv Holdings Co. - Class A <sup>(b)(c)</sup> | Vertiv Holdings Co. - Class A <sup>(b)(c)</sup> | 430100 | 62622560 |
|  |  |  | 190015372 |
| **Software - 26.4%<sup>(d)</sup>** | **Software - 26.4%<sup>(d)</sup>** | **Software - 26.4%<sup>(d)</sup>** |  |
| AppLovin Corp. - Class A <sup>(a)(b)(c)</sup> | AppLovin Corp. - Class A <sup>(a)(b)(c)</sup> | 327000 | 127758900 |
| Innodata, Inc. <sup>(a)(b)(c)</sup> | Innodata, Inc. <sup>(a)(b)(c)</sup> | 2139400 | 117453060 |
| IonQ, Inc. <sup>(a)(b)(c)</sup> | IonQ, Inc. <sup>(a)(b)(c)</sup> | 2798800 | 111588156 |
| MicroStrategy, Inc. - Class A <sup>(a)(b)(c)</sup> | MicroStrategy, Inc. - Class A <sup>(a)(b)(c)</sup> | 328500 | 132011010 |
| Nebius Group NV <sup>(a)(b)(c)</sup> | Nebius Group NV <sup>(a)(b)(c)</sup> | 2410000 | 131176300 |
| Palantir Technologies, Inc. - Class A <sup>(a)(b)(c)</sup> | Palantir Technologies, Inc. - Class A <sup>(a)(b)(c)</sup> | 456300 | 72255105 |
|  |  |  | 692242531 |
| **Telecommunications - 3.0%** | **Telecommunications - 3.0%** | **Telecommunications - 3.0%** |  |
| AST SpaceMobile, Inc. <sup>(a)(b)(c)</sup> | AST SpaceMobile, Inc. <sup>(a)(b)(c)</sup> | 1483600 | 78883012 |
| **TOTAL COMMON STOCKS** (Cost $2,264,336,619) | **TOTAL COMMON STOCKS** (Cost $2,264,336,619) | **TOTAL COMMON STOCKS** (Cost $2,264,336,619) | 2452374211 |
| **PURCHASED OPTIONS - 2.0%<sup>(a)</sup>** | **Notional Amount** | **Contracts** |  |
| **Call Options - 0.1%<sup>(b)(e)(f)</sup>** | **Call Options - 0.1%<sup>(b)(e)(f)</sup>** |  | $**–** |
| QUALCOMM, Inc. | QUALCOMM, Inc. | – | $– |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/08/2025; Exercise Price: $145.00 | $29352000 | 2000 | 780000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/08/2025; Exercise Price: $155.00 | 79250400 | 5400 | 245700 |
|  Super Micro Computer, Inc., Expiration: 08/08/2025; Exercise Price: $60.00 | 35382000 | 6000 | 2025000 |
| **Total Call Options** |  |  | 3050700 |
| **Put Options - 1.9%<sup>(b)(e)(f)</sup>** | **Put Options - 1.9%<sup>(b)(e)(f)</sup>** |  | $**–** |
|  2x Long VIX Futures ETF, Expiration: 08/15/2025; Exercise Price: $16.00 | 33952800 | 19740 | 1480500 |
| Applied Optoelectronics, Inc. | Applied Optoelectronics, Inc. | – | $– |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/08/2025; Exercise Price: $21.00 | 66286408 | 28984 | 4202680 |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/08/2025; Exercise Price: $23.00 | 19535554 | 8542 | 2028725 |
| AppLovin Corp. | AppLovin Corp. | – | $– |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/08/2025; Exercise Price: $340.00 | 48837500 | 1250 | 1237500 |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/08/2025; Exercise Price: $350.00 | 78921400 | 2020 | 2727000 |
| AST SpaceMobile, Inc. | AST SpaceMobile, Inc. | – | $– |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/01/2025; Exercise Price: $49.00 | 4359940 | 820 | 7380 |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/01/2025; Exercise Price: $50.00 | 74523072 | 14016 | 238272 |
| BitMine Immersion Technologies, Inc. | BitMine Immersion Technologies, Inc. | – | $– |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/08/2025; Exercise Price: $31.00 | 20136232 | 5813 | 494105 |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/15/2025; Exercise Price: $30.00 | 51960000 | 15000 | 2325000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/15/2025; Exercise Price: $32.00 | 14607688 | 4217 | 1012080 |
| Coinbase Global, Inc. | Coinbase Global, Inc. | – | $– |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/01/2025; Exercise Price: $340.00 | 56588448 | 1498 | 154294 |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/01/2025; Exercise Price: $350.00 | 70376688 | 1863 | 423833 |
| First Solar, Inc. | First Solar, Inc. | – | $– |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/01/2025; Exercise Price: $155.00 | 12143735 | 695 | 39615 |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/01/2025; Exercise Price: $160.00 | 106620246 | 6102 | 643761 |
| Galaxy Digital, Inc. | Galaxy Digital, Inc. | – | $– |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/01/2025; Exercise Price: $27.00 | 68554029 | 24126 | 482520 |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/08/2025; Exercise Price: $26.00 | 19450068 | 6845 | 633163 |
|  Innodata, Inc., Expiration: 08/15/2025; Exercise Price: $48.00 | 117453060 | 21394 | 7273960 |
| IonQ, Inc. | IonQ, Inc. | – | $– |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/08/2025; Exercise Price: $36.00 | 11841390 | 2970 | 365310 |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/08/2025; Exercise Price: $36.50 | 59876766 | 15018 | 2170101 |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/08/2025; Exercise Price: $38.00 | 39870000 | 10000 | 1995000 |
| MARA Holdings, Inc. | MARA Holdings, Inc. | – | $– |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/08/2025; Exercise Price: $14.50 | 45015960 | 27995 | 349937 |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/08/2025; Exercise Price: $15.00 | 60390048 | 37556 | 807454 |
| MicroStrategy, Inc. | MicroStrategy, Inc. | – | $– |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/01/2025; Exercise Price: $370.00 | 53889426 | 1341 | 162932 |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/01/2025; Exercise Price: $375.00 | 78121584 | 1944 | 301320 |
| Nebius Group NV | Nebius Group NV | – | $– |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/01/2025; Exercise Price: $46.50 | 85286367 | 15669 | 117518 |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/08/2025; Exercise Price: $50.00 | 45889933 | 8431 | 1264650 |
| NuScale Power Corp. | NuScale Power Corp. | – | $– |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/01/2025; Exercise Price: $44.50 | 71780216 | 14296 | 650468 |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/08/2025; Exercise Price: $43.50 | 55612596 | 11076 | 1362348 |
| Oklo, Inc. | Oklo, Inc. | – | $– |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/01/2025; Exercise Price: $66.00 | 48014271 | 6269 | 21942 |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/08/2025; Exercise Price: $71.00 | 46896057 | 6123 | 1154185 |
| Palantir Technologies, Inc. | Palantir Technologies, Inc. | – | $– |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/01/2025; Exercise Price: $146.00 | 16769265 | 1059 | 11119 |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/08/2025; Exercise Price: $138.00 | 55485840 | 3504 | 821688 |
|  QUALCOMM, Inc., Expiration: 08/08/2025; Exercise Price: $140.00 | 49898400 | 3400 | 231200 |
| Reddit, Inc. | Reddit, Inc. | – | $– |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/01/2025; Exercise Price: $134.00 | 17134953 | 1067 | 245943 |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/01/2025; Exercise Price: $135.00 | 49718664 | 3096 | 681120 |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/01/2025; Exercise Price: $140.00 | 78143094 | 4866 | 1715265 |
| Rigetti Computing, Inc. | Rigetti Computing, Inc. | – | $– |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/08/2025; Exercise Price: $13.00 | 54709950 | 37731 | 830082 |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/08/2025; Exercise Price: $13.50 | 14500000 | 10000 | 360000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/15/2025; Exercise Price: $13.00 | 44950000 | 31000 | 1751500 |
| Robinhood Markets, Inc. | Robinhood Markets, Inc. | – | $– |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/01/2025; Exercise Price: $97.00 | 36490005 | 3541 | 116853 |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/08/2025; Exercise Price: $95.00 | 50618160 | 4912 | 474008 |
|  Snap, Inc., Expiration: 08/08/2025; Exercise Price: $8.50 | 64481397 | 68379 | 2769349 |
| Super Micro Computer, Inc. | Super Micro Computer, Inc. | – | $– |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/08/2025; Exercise Price: $44.00 | 28488407 | 4831 | 137683 |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/08/2025; Exercise Price: $45.00 | 41279000 | 7000 | 231000 |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/08/2025; Exercise Price: $56.00 | 20639500 | 3500 | 841750 |
|  Tempus AI, Inc., Expiration: 08/08/2025; Exercise Price: $52.00 | 65593469 | 11591 | 1593763 |
| Upstart Holdings, Inc. | Upstart Holdings, Inc. | – | $– |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/01/2025; Exercise Price: $73.00 | 5615538 | 687 | 5496 |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/01/2025; Exercise Price: $75.00 | 35377072 | 4328 | 43280 |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/01/2025; Exercise Price: $77.00 | 65007822 | 7953 | 167013 |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/08/2025; Exercise Price: $75.00 | 18628546 | 2279 | 1179383 |
| Vertiv Holdings Co. | Vertiv Holdings Co. | – | $– |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/01/2025; Exercise Price: $130.00 | 5736640 | 394 | 2561 |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/01/2025; Exercise Price: $135.00 | 39967200 | 2745 | 34313 |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/08/2025; Exercise Price: $140.00 | 16918720 | 1162 | 230076 |
| Vistra Corp. | Vistra Corp. | – | $– |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/08/2025; Exercise Price: $175.00 | 28424002 | 1363 | 102225 |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/08/2025; Exercise Price: $180.00 | 8049644 | 386 | 47092 |
| &nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/08/2025; Exercise Price: $190.00 | 21333642 | 1023 | 283882 |
|  Webull Corp., Expiration: 08/08/2025; Exercise Price: $12.00 | 35475000 | 25000 | 237500 |
| **Total Put Options** |  |  | 51272697 |
| **TOTAL PURCHASED OPTIONS** (Cost $59,715,165) | **TOTAL PURCHASED OPTIONS** (Cost $59,715,165) | **TOTAL PURCHASED OPTIONS** (Cost $59,715,165) | 54323397 |
| **EXCHANGE TRADED FUNDS - 1.3%** | **EXCHANGE TRADED FUNDS - 1.3%** | **Shares** |  |
| 2x Long VIX Futures ETF <sup>(a)(b)(c)</sup> | 2x Long VIX Futures ETF <sup>(a)(b)(c)</sup> | 1974000 | 33952800 |
| **TOTAL EXCHANGE TRADED FUNDS** (Cost $33,760,141) | **TOTAL EXCHANGE TRADED FUNDS** (Cost $33,760,141) | **TOTAL EXCHANGE TRADED FUNDS** (Cost $33,760,141) | 33952800 |
| **SHORT-TERM INVESTMENTS** | **SHORT-TERM INVESTMENTS** | **SHORT-TERM INVESTMENTS** | **SHORT-TERM INVESTMENTS** |
| **MONEY MARKET FUNDS - 7.7%** | **MONEY MARKET FUNDS - 7.7%** |  |  |
| First American Government Obligations Fund - Class X, 4.23%<sup>(g)</sup> | First American Government Obligations Fund - Class X, 4.23%<sup>(g)</sup> | 201104294 | 201104294 |
| **TOTAL MONEY MARKET FUNDS** (Cost $201,104,294) | **TOTAL MONEY MARKET FUNDS** (Cost $201,104,294) | **TOTAL MONEY MARKET FUNDS** (Cost $201,104,294) | 201104294 |
| **TOTAL INVESTMENTS - 104.4% (**Cost $2,558,916,219**)** | **TOTAL INVESTMENTS - 104.4% (**Cost $2,558,916,219**)** | **TOTAL INVESTMENTS - 104.4% (**Cost $2,558,916,219**)** | 2741754702 |
| Liabilities in Excess of Other Assets - (4.4)% | Liabilities in Excess of Other Assets - (4.4)% | Liabilities in Excess of Other Assets - (4.4)% | (115294997) |
| **TOTAL NET ASSETS - 100.0%** |  |  | $2626459705 |
| two | two | two | –% |
| Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. | –% |

---

(a) Non-income producing security.

(b) Held in connection with written option contracts. See Schedule of Written Options for further information.

(c) All or a portion of this security has been pledged to the broker in connection with written options as of July 31, 2025.

(d) To the extent that the Fund invests more heavily in a particular industry or sector of the economy, its performance will be especially sensitive to developments that significantly affect those
 industries or sectors.

(e) Exchange-traded.

(f) 100 shares per contract.

(g) The rate shown represents the 7-day annualized effective yield as of July 31, 2025.

------

---

| | | | |
|:---|:---|:---|:---|
| **YieldMax Ultra Option Income Strategy ETF** | **YieldMax Ultra Option Income Strategy ETF** | **YieldMax Ultra Option Income Strategy ETF** | **YieldMax Ultra Option Income Strategy ETF** |
| **Schedule of Written Options** | **Schedule of Written Options** | **Schedule of Written Options** | **Schedule of Written Options** |
| **July 31, 2025 (Unaudited)** | **July 31, 2025 (Unaudited)** | **July 31, 2025 (Unaudited)** | **July 31, 2025 (Unaudited)** |
| **WRITTEN OPTIONS - (3.2)%** <sup>(a)(b)</sup> | **Notional Amount** | **Contracts** | **Value** |
| **Call Options - (3.2)%** | **Call Options - (3.2)%** | **Call Options - (3.2)%** | **Call Options - (3.2)%** |
| 2x Long VIX Futures ETF, Expiration: 08/15/2025; Exercise Price: $20.00 | $(33952800) | (19740) | $(2092440) |
| Applied Optoelectronics, Inc. |  | – | $– |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/08/2025; Exercise Price: $25.00 | (11830651) | (5173) | (788883) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/08/2025; Exercise Price: $26.00 | (54455757) | (23811) | (2857320) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/08/2025; Exercise Price: $27.00 | (19535554) | (8542) | (811490) |
| AppLovin Corp. |  | – | $– |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/08/2025; Exercise Price: $400.00 | (48837500) | (1250) | (3400000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/08/2025; Exercise Price: $420.00 | (78921400) | (2020) | (3989500) |
| AST SpaceMobile, Inc., Expiration: 08/01/2025; Exercise Price: $55.00 | (78883012) | (14836) | (645366) |
| BitMine Immersion Technologies, Inc. |  | – | $– |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/08/2025; Exercise Price: $37.00 | (20136232) | (5813) | (1002743) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/15/2025; Exercise Price: $35.00 | (51960000) | (15000) | (4875000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/15/2025; Exercise Price: $39.00 | (14607688) | (4217) | (906655) |
| Coinbase Global, Inc. |  | – | $– |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/01/2025; Exercise Price: $405.00 | (14997072) | (397) | (150860) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/01/2025; Exercise Price: $410.00 | (60932688) | (1613) | (467770) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/01/2025; Exercise Price: $415.00 | (51035376) | (1351) | (337750) |
| First Solar, Inc. |  | – | $– |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/01/2025; Exercise Price: $185.00 | (12143735) | (695) | (130312) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/01/2025; Exercise Price: $192.50 | (36029326) | (2062) | (310331) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/01/2025; Exercise Price: $195.00 | (70590920) | (4040) | (404000) |
| Galaxy Digital, Inc. |  | – | $– |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/01/2025; Exercise Price: $30.00 | (68554029) | (24126) | (603150) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/08/2025; Exercise Price: $32.00 | (19450068) | (6845) | (718725) |
| Innodata, Inc. |  | – | $– |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/15/2025; Exercise Price: $55.00 | (62564040) | (11396) | (7065520) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/15/2025; Exercise Price: $60.00 | (54889020) | (9998) | (4149170) |
| IonQ, Inc. |  | – | $– |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/08/2025; Exercise Price: $44.50 | (11841390) | (2970) | (435105) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/08/2025; Exercise Price: $45.00 | (59876766) | (15018) | (1892268) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/08/2025; Exercise Price: $47.00 | (39870000) | (10000) | (925000) |
| MARA Holdings, Inc. |  | – | $– |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/08/2025; Exercise Price: $17.50 | (45015960) | (27995) | (615890) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/08/2025; Exercise Price: $18.00 | (60390048) | (37556) | (582118) |
| MicroStrategy, Inc. |  | – | $– |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/01/2025; Exercise Price: $420.00 | (90097012) | (2242) | (607582) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/01/2025; Exercise Price: $422.50 | (41913998) | (1043) | (270137) |
| Nebius Group NV |  | – | $– |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/01/2025; Exercise Price: $54.50 | (85286367) | (15669) | (1527728) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/08/2025; Exercise Price: $59.00 | (45889933) | (8431) | (1475425) |
| NuScale Power Corp. |  | – | $– |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/01/2025; Exercise Price: $54.00 | (71780216) | (14296) | (364548) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/08/2025; Exercise Price: $56.00 | (55612596) | (11076) | (2115516) |
| Oklo, Inc. |  | – | $– |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/01/2025; Exercise Price: $75.00 | (48014271) | (6269) | (1438736) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/08/2025; Exercise Price: $85.00 | (46896057) | (6123) | (930696) |
| Palantir Technologies, Inc. |  | – | $– |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/01/2025; Exercise Price: $162.50 | (16769265) | (1059) | (42889) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/08/2025; Exercise Price: $160.00 | (15233270) | (962) | (839345) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/08/2025; Exercise Price: $162.50 | (40252570) | (2542) | (1931920) |
| QUALCOMM, Inc., Expiration: 08/08/2025; Exercise Price: $150.00 | (108602400) | (7400) | (1113700) |
| Reddit, Inc. |  | – | $– |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/01/2025; Exercise Price: $160.00 | (17134953) | (1067) | (1269730) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/01/2025; Exercise Price: $165.00 | (37481706) | (2334) | (2298990) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/01/2025; Exercise Price: $175.00 | (90380052) | (5628) | (3433080) |
| Rigetti Computing, Inc. |  | – | $– |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/08/2025; Exercise Price: $15.50 | (54709950) | (37731) | (1716760) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/08/2025; Exercise Price: $16.00 | (14500000) | (10000) | (340000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/15/2025; Exercise Price: $16.00 | (44950000) | (31000) | (2309500) |
| Robinhood Markets, Inc. |  | – | $– |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/01/2025; Exercise Price: $107.00 | (36490005) | (3541) | (175280) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/08/2025; Exercise Price: $108.00 | (50618160) | (4912) | (886616) |
| Snap, Inc., Expiration: 08/08/2025; Exercise Price: $10.50 | (64481397) | (68379) | (3077055) |
| Super Micro Computer, Inc. |  | – | $– |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/08/2025; Exercise Price: $55.00 | (69767407) | (11831) | (7216910) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/08/2025; Exercise Price: $67.00 | (20639500) | (3500) | (449750) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/08/2025; Exercise Price: $70.00 | (35382000) | (6000) | (504000) |
| Tempus AI, Inc., Expiration: 08/08/2025; Exercise Price: $62.00 | (65593469) | (11591) | (1941492) |
| Upstart Holdings, Inc. |  | – | $– |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/01/2025; Exercise Price: $84.00 | (5615538) | (687) | (49807) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/01/2025; Exercise Price: $85.00 | (57291566) | (7009) | (332927) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/01/2025; Exercise Price: $87.00 | (43093328) | (5272) | (187156) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/08/2025; Exercise Price: $90.00 | (18628546) | (2279) | (1190777) |
| Vertiv Holdings Co. |  | – | $– |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/01/2025; Exercise Price: $148.00 | (45703840) | (3139) | (317039) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/08/2025; Exercise Price: $155.00 | (16918720) | (1162) | (160937) |
| Vistra Corp. |  | – | $– |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/08/2025; Exercise Price: $200.00 | (10510416) | (504) | (711900) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/08/2025; Exercise Price: $210.00 | (17913586) | (859) | (745183) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration: 08/08/2025; Exercise Price: $217.50 | (29383286) | (1409) | (778473) |
| Webull Corp., Expiration: 08/08/2025; Exercise Price: $15.50 | (35475000) | (25000) | (1050000) |
| **Total Call Options** |  |  | (83958950) |
| **Put Options - (0.0)%** <sup>(c)</sup> | **Put Options - (0.0)%** <sup>(c)</sup> | **Put Options - (0.0)%** <sup>(c)</sup> | **Put Options - (0.0)%** <sup>(c)</sup> |
| 2x Long VIX Futures ETF, Expiration: 08/15/2025; Exercise Price: $14.00 | (33952800) | (19740) | (424410) |
| QUALCOMM, Inc., Expiration: 08/08/2025; Exercise Price: $145.00 | (49898400) | (3400) | (663000) |
| **Total Put Options** |  |  | (1087410) |
| **TOTAL WRITTEN OPTIONS** (Premiums received $96,214,760) |  |  | $(85046360) |
| Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. |

---

(a) Exchange-traded.

(b) 100 shares per contract.

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

------

#### <br>

#### Summary of Fair Value Disclosure as of July 31, 2025 (Unaudited)
YieldMax Ultra Option Income Strategy ETF (the "Fund") 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 July 31, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **<u>Level 1</u>** | **<u>Level 2</u>** | **<u>Level 3</u>** | **<u>Total</u>** |
| **Assets:** | | | | |
| <u>Investments:</u> |  |  |  |  |
|  &nbsp;&nbsp;&nbsp;&nbsp;Common Stocks | $2452374211 | $– | $– | $2452374211 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Purchased Options | – | 54323397 | – | 54323397 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Exchange Traded Funds | 33952800 | – | – | 33952800 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Money Market Funds | 201104294 | – | – | 201104294 |
| Total Investments | $2687431305 | $54323397 | $– | $2741754702 |
| **Liabilities:** |  |  |  |  |
| <u>Investments:</u> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Written Options | $– | $(85046360) | $– | $(85046360) |
| Total Investments | $– | $(85046360) | $– | $(85046360) |

---

## 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:** YieldMax Ultra Option Income Strategy ETF

- **b. EDGAR series identifier (if any):** S000084078

- **c. LEI of Series:** 254900LTQPWEQU1KD103

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

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

- **b. Date as of which information is reported:** 2025-07-31

**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:** $2722416909.31

**Total Liabilities:** $133025130.94

**Net Assets:** $2589391778.37

**Cash Not Reported:** $41718168.94

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000248338 | 13.23%               | 8.73%                | 5.49%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $6300922.16              | $45116932.26                               |
| Month 2  | $39433429.40             | $36841120.88                               |
| Month 3  | $5310621.49              | $116374059.10                              |

**Designated Index Information**

- **Index Name:** NYSE FANG+ Total Return Index

- **Index Identifier:** NYFANGT

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| N/A                            | Webull Corp                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |    -15000 | NC      | $-630000.00   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Webull Corp                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |     15000 | NC      | $142500.00    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Nebius Group NV                | Nebius Group NV                            | CUSIP: N/A<br>LEI: 549300GGZHJ5Q1B18P93       | Long             | EC               | CORP              | NL        |   2188900 | NS      | $119141827.00 | 4.60%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | Upstart Holdings Inc                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       687 | NC      | $5496.00      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Upstart Holdings Inc                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      4328 | NC      | $43280.00     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Upstart Holdings Inc                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      7953 | NC      | $167013.00    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Upstart Holdings Inc                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |     -2279 | NC      | $-1190777.50  | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Upstart Holdings Inc                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      2279 | NC      | $1179382.50   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Vertiv Holdings Co                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |     -4662 | NC      | $-2027970.00  | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Vertiv Holdings Co                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |     -3139 | NC      | $-317039.00   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Vertiv Holdings Co                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      4662 | NC      | $240093.00    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Vertiv Holdings Co                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       394 | NC      | $2561.00      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Vertiv Holdings Co                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      2745 | NC      | $34312.50     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Vistra Corp                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |     -3523 | NC      | $-3135470.00  | -0.12%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Vistra Corp                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      3523 | NC      | $24661.00     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Vistra Corp                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -504 | NC      | $-711900.00   | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Vistra Corp                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -859 | NC      | $-745182.50   | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Vistra Corp                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -386 | NC      | $-213265.00   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Vistra Corp                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      1363 | NC      | $102225.00    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Vistra Corp                                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       386 | NC      | $47092.00     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | AST SpaceMobile Inc                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       820 | NC      | $7380.00      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | AST SpaceMobile Inc                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |     14016 | NC      | $238272.00    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | BitMine Immersion Technologies Inc         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |    -15000 | NC      | $-4875000.00  | -0.19%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | BitMine Immersion Technologies Inc         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |     -4217 | NC      | $-906655.00   | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | BitMine Immersion Technologies Inc         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |     15000 | NC      | $2325000.00   | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | BitMine Immersion Technologies Inc         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      4217 | NC      | $1012080.00   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Oklo Inc                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |     -6123 | NC      | $-1931806.50  | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Oklo Inc                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |     -6269 | NC      | $-1438735.50  | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Oklo Inc                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      6269 | NC      | $21941.53     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Oklo Inc                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      6123 | NC      | $55107.00     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Palantir Technologies Inc                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |     -1059 | NC      | $-42889.50    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Palantir Technologies Inc                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      1059 | NC      | $11119.50     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Palantir Technologies Inc                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -962 | NC      | $-839345.00   | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Palantir Technologies Inc                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |     -2542 | NC      | $-1931920.00  | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Palantir Technologies Inc                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      3504 | NC      | $821688.00    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | QUALCOMM Inc                               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |     -3060 | NC      | $-9180.00     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | NuScale Power Corp                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |    -14296 | NC      | $-364548.00   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | NuScale Power Corp                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |     14296 | NC      | $650468.07    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | NuScale Power Corp                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |     -8756 | NC      | $-1672396.00  | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | NuScale Power Corp                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      8756 | NC      | $1076988.00   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Meta Platforms Inc             | Meta Platforms Inc                         | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |     70000 | NS      | $54140800.00  | 2.09%             |  |  |  | No            |                  1 | On Loan: No      |
| MARA Holdings Inc              | MARA Holdings Inc                          | CUSIP: 565788106<br>LEI: 549300M8ISKPTX2W7F94 | Long             | EC               | CORP              | US        |   5821800 | NS      | $93614544.00  | 3.62%             |  |  |  | No            |                  1 | On Loan: No      |
| MicroStrategy Inc              | MicroStrategy Inc                          | CUSIP: 594972408<br>LEI: 549300WQTWEJUEHXQX21 | Long             | EC               | CORP              | US        |    298700 | NS      | $120035582.00 | 4.64%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | Applied Optoelectronics Inc                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |    -23811 | NC      | $-2857320.00  | -0.11%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Applied Optoelectronics Inc                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |     -8542 | NC      | $-512520.00   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Applied Optoelectronics Inc                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |     23811 | NC      | $3452595.00   | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Applied Optoelectronics Inc                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      8542 | NC      | $2028725.00   | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | AppLovin Corp                              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |     -1710 | NC      | $-2838600.00  | -0.11%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | AppLovin Corp                              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |     -1250 | NC      | $-3400000.00  | -0.13%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | QUALCOMM Inc                               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      3060 | NC      | $1820700.00   | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Reddit Inc                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |     -4866 | NC      | $-6654255.00  | -0.26%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Reddit Inc                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |     -1067 | NC      | $-1269730.00  | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | 2x Long VIX Futures ETF                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |    -19740 | NC      | $-2092440.00  | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | 2x Long VIX Futures ETF                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |    -19740 | NC      | $-424410.00   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | 2x Long VIX Futures ETF                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |     19740 | NC      | $1480500.00   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| AST SpaceMobile Inc            | AST SpaceMobile Inc                        | CUSIP: 00217D100<br>LEI: 254900MBSC9P2UCI6623 | Long             | EC               | CORP              | US        |   1483600 | NS      | $78883012.00  | 3.05%             |  |  |  | No            |                  1 | On Loan: No      |
| BitMine Immersion Technologies | BitMine Immersion Technologies Inc         | CUSIP: 09175A206<br>LEI: 254900TGJJ1D9JNAQT27 | Long             | EC               | CORP              | US        |   1921700 | NS      | $66567688.00  | 2.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Coinbase Global Inc            | Coinbase Global Inc                        | CUSIP: 19260Q107<br>LEI: 5493004G3J2SC154DU06 | Long             | EC               | CORP              | US        |    304500 | NS      | $115027920.00 | 4.44%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Government Obli | First American Government Obligations Fund | CUSIP: 31846V336<br>LEI: 549300R5MYM6VZF1RM44 | Long             | STIV             | RF                | US        |  18266389 | NS      | $18266388.88  | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Oklo Inc                       | Oklo Inc                                   | CUSIP: 02156V109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1239200 | NS      | $94910328.00  | 3.67%             |  |  |  | No            |                  1 | On Loan: No      |
| NuScale Power Corp             | NuScale Power Corp                         | CUSIP: 67079K100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   2305200 | NS      | $115744092.00 | 4.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Palantir Technologies Inc      | Palantir Technologies Inc                  | CUSIP: 69608A108<br>LEI: 549300UVN46B3BBDHO85 | Long             | EC               | CORP              | US        |    456300 | NS      | $72255105.00  | 2.79%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | Meta Platforms Inc                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       700 | NC      | $26600.00     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | MicroStrategy Inc                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |     -1944 | NC      | $-526824.00   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | MicroStrategy Inc                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |     -1043 | NC      | $-270137.00   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Super Micro Computer Inc                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      3500 | NC      | $10500.00     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Tempus AI Inc                              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |    -11591 | NC      | $-1941492.50  | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Tempus AI Inc                              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |     11591 | NC      | $1593762.50   | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Upstart Holdings Inc                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -687 | NC      | $-49807.50    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Upstart Holdings Inc                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |     -7009 | NC      | $-332927.50   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Upstart Holdings Inc                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |     -5272 | NC      | $-187156.00   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | First Solar Inc                            | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |     -4040 | NC      | $-404000.00   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | First Solar Inc                            | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      6102 | NC      | $643761.00    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Galaxy Digital Inc                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |    -24126 | NC      | $-603150.00   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Galaxy Digital Inc                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |     24126 | NC      | $482520.00    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Innodata Inc                               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |     -9998 | NC      | $-8948210.00  | -0.35%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Innodata Inc                               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |     -9152 | NC      | $-5674240.00  | -0.22%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Innodata Inc                               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      7151 | NC      | $786610.00    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Innodata Inc                               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |     11999 | NC      | $1229897.50   | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | IonQ Inc                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |    -15018 | NC      | $-1892268.00  | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Super Micro Computer Inc                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      6000 | NC      | $2025000.00   | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Super Micro Computer Inc                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |     -6000 | NC      | $-504000.00   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | IonQ Inc                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |    -10000 | NC      | $-925000.00   | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | IonQ Inc                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |     15018 | NC      | $2170101.00   | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Super Micro Computer Inc                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      4831 | NC      | $137683.50    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Super Micro Computer Inc                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      7000 | NC      | $231000.00    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | IonQ Inc                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |     10000 | NC      | $1995000.00   | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | MARA Holdings Inc                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |    -20662 | NC      | $-454564.00   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | MARA Holdings Inc                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |    -37556 | NC      | $-582118.00   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | MARA Holdings Inc                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |     20662 | NC      | $258275.00    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | MARA Holdings Inc                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |     37556 | NC      | $807454.00    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Meta Platforms Inc                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -700 | NC      | $-1986250.00  | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Reddit Inc                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |     -2334 | NC      | $-2298990.00  | -0.09%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Reddit Inc                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      4866 | NC      | $729900.00    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Reddit Inc                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      1067 | NC      | $245943.50    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Robinhood Markets Inc                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |     -3541 | NC      | $-175279.50   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Robinhood Markets Inc                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |     -4912 | NC      | $-41752.00    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Robinhood Markets Inc                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      8453 | NC      | $278949.00    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Reddit Inc                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      2334 | NC      | $513480.00    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Rigetti Computing Inc                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |    -36741 | NC      | $-1671715.50  | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Rigetti Computing Inc                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |     36741 | NC      | $808302.00    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Rigetti Computing Inc                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |    -31000 | NC      | $-2309500.00  | -0.09%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Rigetti Computing Inc                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |     31000 | NC      | $1751500.00   | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Super Micro Computer Inc                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |     -3500 | NC      | $-213500.00   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Super Micro Computer Inc                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |    -11831 | NC      | $-7216910.00  | -0.28%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Snap Inc                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |    -55754 | NC      | $-2508930.00  | -0.10%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Snap Inc                                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |     55754 | NC      | $2258037.00   | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| First Solar Inc                | First Solar Inc                            | CUSIP: 336433107<br>LEI: 549300NPYMLM4NHTOF27 | Long             | EC               | CORP              | US        |    610200 | NS      | $106620246.00 | 4.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Galaxy Digital Inc             | Galaxy Digital Inc                         | CUSIP: 36317J209<br>LEI: 9845001C4070E5N07806 | Long             | EC               | CORP              | US        |   2412600 | NS      | $68554029.00  | 2.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Innodata Inc                   | Innodata Inc                               | CUSIP: 457642205<br>LEI: L9O7MPYIT56T6KBE0R95 | Long             | EC               | CORP              | US        |   1915000 | NS      | $105133500.00 | 4.06%             |  |  |  | No            |                  1 | On Loan: No      |
| IonQ Inc                       | IonQ Inc                                   | CUSIP: 46222L108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   2501800 | NS      | $99746766.00  | 3.85%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | AppLovin Corp                              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      1710 | NC      | $21375.00     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | AppLovin Corp                              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      1250 | NC      | $556250.00    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | AST SpaceMobile Inc                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |    -14836 | NC      | $-645366.00   | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| Applied Optoelectronics Inc    | Applied Optoelectronics Inc                | CUSIP: 03823U102<br>LEI: 529900I8U6Q5SYDNLT48 | Long             | EC               | CORP              | US        |   3235300 | NS      | $73991311.00  | 2.86%             |  |  |  | No            |                  1 | On Loan: No      |
| AppLovin Corp                  | AppLovin Corp                              | CUSIP: 03831W108<br>LEI: 549300LLVXMUAOL3SQ07 | Long             | EC               | CORP              | US        |    296000 | NS      | $115647200.00 | 4.47%             |  |  |  | No            |                  1 | On Loan: No      |
| QUALCOMM Inc                   | QUALCOMM Inc                               | CUSIP: 747525103<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | EC               | CORP              | US        |    306000 | NS      | $44908560.00  | 1.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Reddit Inc                     | Reddit Inc                                 | CUSIP: 75734B100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    826700 | NS      | $132759753.00 | 5.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Rigetti Computing Inc          | Rigetti Computing Inc                      | CUSIP: 76655K103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   6774100 | NS      | $98224450.00  | 3.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Robinhood Markets Inc          | Robinhood Markets Inc                      | CUSIP: 770700102<br>LEI: 213800FS5AO3YWIE6F63 | Long             | EC               | CORP              | US        |    845300 | NS      | $87108165.00  | 3.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Snap Inc                       | Snap Inc                                   | CUSIP: 83304A106<br>LEI: 549300JNC0L6VP8A2Q35 | Long             | EC               | CORP              | US        |   5575400 | NS      | $52576022.00  | 2.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Super Micro Computer Inc       | Super Micro Computer Inc                   | CUSIP: 86800U302<br>LEI: 54930022CZO1N2UGVW07 | Long             | EC               | CORP              | US        |   1533100 | NS      | $90406907.00  | 3.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Tempus AI Inc                  | Tempus AI Inc                              | CUSIP: 88023B103<br>LEI: 2549009LA0KWRAGQBX50 | Long             | EC               | CORP              | US        |   1159100 | NS      | $65593469.00  | 2.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Upstart Holdings Inc           | Upstart Holdings Inc                       | CUSIP: 91680M107<br>LEI: 549300WNB47JRNENIC75 | Long             | EC               | CORP              | US        |   1524700 | NS      | $124628978.00 | 4.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Vertiv Holdings Co             | Vertiv Holdings Co                         | CUSIP: 92537N108<br>LEI: 549300KTTIRAOGXCRV69 | Long             | EC               | CORP              | US        |    780100 | NS      | $113582560.00 | 4.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Vistra Corp                    | Vistra Corp                                | CUSIP: 92840M102<br>LEI: 549300KP43CPCUJOOG15 | Long             | EC               | CORP              | US        |    527200 | NS      | $109942288.00 | 4.25%             |  |  |  | No            |                  1 | On Loan: No      |
| 2x Long VIX Futures ETF        | 2x Long VIX Futures ETF                    | CUSIP: 92891H606<br>LEI: 549300VPUEG2PPXCMM61 | Long             | EC               | RF                | US        |   1974000 | NS      | $33952800.00  | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Webull Corp                    | Webull Corp                                | CUSIP: N/A<br>LEI: 213800YKAMJ8BY75D995       | Long             | EC               | CORP              | US        |   1500000 | NS      | $21285000.00  | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | MicroStrategy Inc                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      1043 | NC      | $126724.50    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | MicroStrategy Inc                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      1944 | NC      | $301320.00    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Nebius Group NV                            | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |     -6220 | NC      | $-979650.00   | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Nebius Group NV                            | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |    -15669 | NC      | $-1527727.50  | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Nebius Group NV                            | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |     15669 | NC      | $117517.58    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Nebius Group NV                            | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      6220 | NC      | $31100.03     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Coinbase Global Inc                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -397 | NC      | $-150860.00   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Coinbase Global Inc                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |     -1297 | NC      | $-376130.00   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Coinbase Global Inc                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |     -1351 | NC      | $-337750.00   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Coinbase Global Inc                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      1498 | NC      | $154294.00    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | Coinbase Global Inc                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      1547 | NC      | $351942.50    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | First Solar Inc                            | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |     -2062 | NC      | $-310331.00   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-09-29

**Name of Applicant:** Tidal Trust II

**Signature:** /s/ Aaron Perkovich

**Name of Signer:** Aaron Perkovich

**Title:** Treasurer/Principal Financial Officer