# EDGAR Filing Document

**Accession Number:** 0001924868
**File Stem:** 0001145549-23-020545
**Filing Date:** 2023-3
**Character Count:** 11532
**Document Hash:** 02d6e06bef66ca9a05d6232ba306b977
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-23-020545.hdr.sgml**: 20230330

**ACCESSION NUMBER**: 0001145549-23-020545

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20230131

**FILED AS OF DATE**: 20230330

**DATE AS OF CHANGE**: 20230330

**PERIOD START**: 20231031

**FILER**: 

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23793
- **FILM NUMBER:** 23779688

**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 Innovation Option Income Strategy ETF (Series ID: S000077664)

| Class ID   | Class Name                                     | Ticker Symbol   |
|:---|:---|:---|
| C000238152 | YieldMax Innovation Option Income Strategy ETF | OARK            |

## Nport-Ex

---

| | | | |
|:---|:---|:---|:---|
| **YieldMax Innovation Option Income Strategy ETF** | **YieldMax Innovation Option Income Strategy ETF** | **YieldMax Innovation Option Income Strategy ETF** | **YieldMax Innovation Option Income Strategy ETF** |
| **SCHEDULE OF INVESTMENTS at January 31, 2023 (Unaudited)** | **SCHEDULE OF INVESTMENTS at January 31, 2023 (Unaudited)** | **SCHEDULE OF INVESTMENTS at January 31, 2023 (Unaudited)** | **SCHEDULE OF INVESTMENTS at January 31, 2023 (Unaudited)** |
|  | | **Principal Amount** | **Value** |
| **United States Treasury Obligations - 75.6%** | | | |
| **United States Treasury Inflation Indexed Notes - 75.6%** | | | |
| &nbsp;&nbsp;&nbsp; 0.750%, 12/31/2023 |  | $187000 | $180317 |
| &nbsp;&nbsp;&nbsp; 0.750%, 11/15/2024 |  | 194000 | 182125 |
|  |  |  | 362442 |
| **Total United States Treasury Obligations** |  |  |  |
| &nbsp;&nbsp;&nbsp; (Cost $362,256) |  |  | 362442 |
|  | **Contracts <sup>(1)</sup>** | **Notional Amount** |  |
| **Options Purchased - 16.0%** |  |  |  |
| **Call Options - 8.0% <sup>(3)</sup>** |  |  |  |
| ARK Innovation ETF |  |  |  |
| Expiration: 03/17/2023, Strike Price: $40 | 138 | $551034 | 38556 |
| **Put Options - 8.0%** |  |  |  |
| ARK Innovation ETF |  |  |  |
| Expiration: 03/17/2023, Strike Price: $40 | 138 | 551034 | 38264 |
| **Total Options Purchased** |  |  |  |
| &nbsp;&nbsp;&nbsp; (Cost $78,246) |  |  | 76820 |
|  |  | **Shares** |  |
| **Short-Term Investments - 6.5%** |  |  |  |
| **Money Market Funds - 6.5%** |  |  |  |
| First American Government Obligations Fund, Class X, 4.140% <sup>(2)</sup> | First American Government Obligations Fund, Class X, 4.140% <sup>(2)</sup> | 31187 | 31187 |
| **Total Short-Term Investments** |  |  |  |
| &nbsp;&nbsp;&nbsp; (Cost $31,187) |  |  | 31187 |
| **Total Investments in Securities - 98.1%** |  |  |  |
| &nbsp;&nbsp;&nbsp; (Cost $471,689) |  |  | 470449 |
| Other Assets in Excess of Liabilities - 1.9% |  |  | 9273 |
| **Total Net Assets - 100.0%** |  |  | $479722 |

---

<sup>(1) <br></sup> 100 shares per contract. <br> <sup>(2) <br></sup> The rate shown is the annualized seven-day effective yield as of January 31, 2023. <br> <sup>(3) <br></sup> FLexible EXchange® Options

------

---

| | | | |
|:---|:---|:---|:---|
| **YieldMax Innovation Option Income Strategy ETF** | **YieldMax Innovation Option Income Strategy ETF** | **YieldMax Innovation Option Income Strategy ETF** | **YieldMax Innovation Option Income Strategy ETF** |
| **SCHEDULE OF OPTIONS WRITTEN at January 31, 2023 (Unaudited)** | **SCHEDULE OF OPTIONS WRITTEN at January 31, 2023 (Unaudited)** | **SCHEDULE OF OPTIONS WRITTEN at January 31, 2023 (Unaudited)** | **SCHEDULE OF OPTIONS WRITTEN at January 31, 2023 (Unaudited)** |
|  | **Contracts <sup>(1)</sup>** | **Notional Amount** | **Value** |
| **Options Written - 0.6%** | | | |
| **Call Options - 0.6%** | | | |
| ARK Innovation ETF |  |  |  |
| Expiration: 02/23/2023, Strike Price: $43 | 138 | $551034 | $3036 |
| **Total Options Written** |  |  |  |
| &nbsp;&nbsp;&nbsp; (Premiums Received $7,186) |  |  | $3036 |
| Percentages are stated as a percent of net assets. |  |  |  |

---

<sup>(1) <br></sup> 100 shares per contract.

------

---

| |
|:---|
| **Summary of Fair Value Exposure at January 31, 2023 (Unaudited)** |
| The YieldMax Innovation Option Income Strategy ETF (the "Fund") utilizes various methods to measure the fair value of its investments on a recurring basis. U.S. GAAP establishes a hierarchy that prioritizes inputs to valuation methods. The three levels of inputs are: |
| • Level 1 — Unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access.<br> • Level 2 — Observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment spreads, credit risk, yield curves, default rates and similar data.<br> • Level 3 — Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available, representing the Fund's own assumptions about the assumptions a market participant would use in valuing the asset or liability, and would be based on the best information available. |
| The following is a summary of the inputs used to value the Fund's investments and options written as of January 31, 2023: |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investments in Securities** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| United States Treasury Obligations | $– | $362442 | $- | $362442 |
| Options Purchased | 76820 | – | – | 76820 |
| Short-Term Investments | 31187 | – | – | 31187 |
| Total Investments in Securities | $108007 | $362442 | $– | $470449 |
| **Options Written** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Call Options | $3036 | $– | $– | $3036 |
| Total Options Written | $3036 | $– | $– | $3036 |

---

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

  - **Street Address 1:** 898 N. BROADWAY

  - **City:** Massapequa

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 11758

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

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

- **a. Name of Series:** YieldMax Innovation Option Income Strategy ETF

- **b. EDGAR series identifier (if any):** S000077664

- **c. LEI of Series:** 549300LMYS5FKTZ76W57

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

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

- **b. Date as of which information is reported:** 2023-01-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $521744.39

**Total Liabilities:** $42022.54

**Net Assets:** $479721.85

**Cash Not Reported:** $88989.88

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 1.830000000000 | **1-Year:** 39.640000000000 | **5-Year:** 6.260000000000 | **10-Year:** 0.000000000000 | **30-Year:** 0.000000000000

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

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

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000238152 | 2.51%                | -11.40%              | 9.98%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $84.51                                     |
| Month 2  | $0.05                    | $-163.42                                   |
| Month 3  | $-91.51                  | $264.88                                    |

**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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| ARKK 03/17/2023 40.01 C        | ARKK 03/17/2023 40.01 C                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       138 | NC      | $38555.89     | 8.04%             |  |  |  | No            |                  1 | On Loan: No      |
| ARKK 03/17/2023 40.01 P        | ARKK 03/17/2023 40.01 P                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -138 | NC      | $-38264.03    | -7.98%            |  |  |  | No            |                  1 | On Loan: No      |
| First American Government Obli | First American Government Obligations Fund | CUSIP: 31846V336<br>LEI: 549300R5MYM6VZF1RM44 | Long             | STIV             | RF                | US        |     31187 | NS      | $31186.98     | 6.50%             |  |  |  | No            |                  1 | On Loan: No      |
| US TREASURY N/B                | United States Treasury Note/Bond           | CUSIP: 91282CDH1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    194000 | PA      | $182125.08    | 37.96%            | 2024-11-15      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                | United States Treasury Note/Bond           | CUSIP: 91282CDR9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    187000 | PA      | $180316.92    | 37.59%            | 2023-12-31      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |
| N/A                            | ARK Innovation ETF                         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -138 | NC      | $-3036.00     | -0.63%            |  |  |  | No            |                  1 | On Loan: No      |

### Signature

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

**Name of Applicant:** Tidal Trust II

**Signature:** /s/ Aaron Perkovich

**Name of Signer:** Aaron Perkovich

**Title:** Assistant Treasurer