# EDGAR Filing Document

**Accession Number:** 0001742912
**File Stem:** 0001145549-23-010650
**Filing Date:** 2023-2
**Character Count:** 15651
**Document Hash:** 67f84ac1166d6ee4271f3876d7a3db05
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-23-010650.hdr.sgml**: 20230227

**ACCESSION NUMBER**: 0001145549-23-010650

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230227

**DATE AS OF CHANGE**: 20230227

**PERIOD START**: 20230331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Tidal ETF Trust
- **CENTRAL INDEX KEY:** 0001742912
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23377
- **FILM NUMBER:** 23672674

**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

## Series and Classes Contracts Data

### Ionic Inflation Protection ETF (Series ID: S000076008)

| Class ID   | Class Name                     | Ticker Symbol   |
|:---|:---|:---|
| C000235433 | Ionic Inflation Protection ETF | CPII            |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **Ionic Inflation Protection ETF** | **Ionic Inflation Protection ETF** | **Ionic Inflation Protection 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)** |
|  | **Principal Amount** | **Value** |
| **United States Treasury Obligations - 91.4%** | | |
| **United States Treasury Inflation Indexed Notes - 91.4%** | | |
| &nbsp;&nbsp;&nbsp; 01/15/2024 0.625% | $1122810 | $1100852 |
| &nbsp;&nbsp;&nbsp; 04/15/2024 0.500% | 1133203 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1104871 |
| &nbsp;&nbsp;&nbsp; 07/15/2024 0.125% | 1128429 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1095409 |
| &nbsp;&nbsp;&nbsp; 10/15/2024 0.125% | 1137163 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1100745 |
| &nbsp;&nbsp;&nbsp; 01/15/2025 0.250% | 1156385 | 1115088 |
| &nbsp;&nbsp;&nbsp; 04/15/2025 0.125% | 1152570 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1104682 |
| &nbsp;&nbsp;&nbsp; 07/15/2025 0.375% | 1129860 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1092455 |
| &nbsp;&nbsp;&nbsp; 10/15/2025 0.125% <sup>(1)</sup> | 1147380 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1099881 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8813983 |
| **Total United States Treasury Obligations** |  |  |
| &nbsp;&nbsp;&nbsp; (Cost $8,935,851) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8813983 |
|  | **Notional Amount** |  |
| **Purchased Options - 2.1%** |  |  |
| **Interest Rate Swaptions - 2.1%** |  |  |
| 5-Year Interest Rate Swap, 12-Month USD-SOFR, Receive Floating Rat | 20000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 207520 |
| &nbsp;&nbsp;&nbsp; Expiration: January 3, 2025; Exercise Rate: 3.900% |  |  |
| **Total Purchased Options** |  | 207520 |
| &nbsp;&nbsp;&nbsp; (Cost $169,000) |  |  |
| **Short-Term Investments - 5.7%** | **Shares** |  |
| **Money Market Funds - 5.7%** |  |  |
| First American Government Obligations Fund, Class X, 4.140% <sup>(1) (2)</sup> | 548552 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 548552 |
| **Total Short-Term Investments** |  |  |
| &nbsp;&nbsp;&nbsp; (Cost $548,552) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 548552 |
| **Total Investments in Securities - 99.2%** |  |  |
| (Cost $9,653,403) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9570055 |
| Other Assets in Excess of Liabilities - 0.8% |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 77386 |
| **Total Net Assets - 100.0%** |  | $9647441 |

---

<sup>(1)</sup> All or a portion of the investment is a holding of Ionic Inflation Protection CFC. <br> <sup>(2)</sup> The rate shown is the annualized seven-day effective yield as of January 31, 2023.

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Ionic Inflation Protection ETF** | **Ionic Inflation Protection ETF** | **Ionic Inflation Protection ETF** | **Ionic Inflation Protection ETF** | **Ionic Inflation Protection ETF** | **Ionic Inflation Protection ETF** | **Ionic Inflation Protection ETF** | **Ionic Inflation Protection ETF** | **Ionic Inflation Protection ETF** |
| **Schedule of Interest Rate Swaps at January 31, 2023 (Unaudited)** | **Schedule of Interest Rate Swaps at January 31, 2023 (Unaudited)** | **Schedule of Interest Rate Swaps at January 31, 2023 (Unaudited)** | |  | | | | |
| **Reference Entity** | **Long/Short** | **Expiration Date** | **Financing Rate** | **Payment** <br> **Frequency** | **Notional Amount** | **Fair Value** | **Upfront Premiums** <br> **Paid (Received)** | **Unrealized** <br> **Appreciation** <br> (Depreciation) |
| U.S. CPI Urban Consumers Index <sup>(1)</sup><br> LCH | Long | 7/5/2027 | 2.890% | Once At Maturity | $10000000 | $(47728) | $12659 | $(60387) |
|  |  |  |  |  |  |  |  | $(60387) |
| <sup>(1)</sup> All or a portion of the investment is a holding of Ionic Inflation Protection CFC. | <sup>(1)</sup> All or a portion of the investment is a holding of Ionic Inflation Protection CFC. | <sup>(1)</sup> All or a portion of the investment is a holding of Ionic Inflation Protection CFC. |  |  |  |  |  |  |

---

------

---

| |
|:---|
| **Summary of Fair Value Exposure at January 31, 2023 (Unaudited)** |
| The Ionic Inflation Protection 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 as of January 31, 2023: |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investments in Securities** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| United States Treasury Inflation Indexed Notes | $– | $8813983 | $– | $8813983 |
| Interest Rate Swaptions | - | 207520 | - | 207520 |
| Money Market Fund | 548552 | - | - | 548552 |
| Total Investments in Securities | $548552 | $9021503 | $– | $9570055 |
| <sup>(1)</sup> See Schedule of Investment for the industry breakout. |  |  |  |  |
| **Other Financial Instruments <sup>(1)</sup>** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Interest Rate Swaps | $– | $(60387) | $– | $(60387) |
| Total Other Financials Instruments | $– | $(60387) | $– | $(60387) |
| <sup>(1)</sup> Other Financial Instruments are interest rate swap agreements not reflected in the Schedule of Invesments, which are reflected at value. | <sup>(1)</sup> Other Financial Instruments are interest rate swap agreements not reflected in the Schedule of Invesments, which are reflected at value. | <sup>(1)</sup> Other Financial Instruments are interest rate swap agreements not reflected in the Schedule of Invesments, which are reflected at value. | <sup>(1)</sup> Other Financial Instruments are interest rate swap agreements not reflected in the Schedule of Invesments, which are reflected at value. | <sup>(1)</sup> Other Financial Instruments are interest rate swap agreements not reflected in the Schedule of Invesments, which are reflected at value. |

---

## 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 ETF Trust

- **b. Investment Company Act file number:** 811-23377

- **c. CIK number of Registrant:** 0001742912

- **d. LEI of Registrant:** 549300VTYHP8U2332C46

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

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

  - **City:** Milwaukee

  - **State:** WI

  - **Foreign country:** US

  - **Zip / Postal Code:** 53204

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

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

- **a. Name of Series:** Ionic Inflation Protection ETF

- **b. EDGAR series identifier (if any):** S000076008

- **c. LEI of Series:** 549300MQXB1MKWKUC159

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

- **a. Date of fiscal year-end:** 2023-03-31

- **b. Date as of which information is reported:** 2022-12-31

**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:** $9890066.66

**Total Liabilities:** $5858.07

**Net Assets:** $9884208.59

**Amount of Assets Invested in Other Investment Companies:** $336229.88

**Cash Not Reported:** $74717.92

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 0.000000000000 | **1-Year:** 1289.860000000000 | **5-Year:** 485.240000000000 | **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 C000235433 | 3.08%                | -2.37%               | 0.26%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $79697.74                                  |
| Month 2  | $0.00                    | $-23453.45                                 |
| Month 3  | $0.84                    | $-21709.35                                 |

**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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| First American Government Obli | First American Government Obligations Fund     | CUSIP: 31846V336<br>LEI: 549300R5MYM6VZF1RM44 | Long             | STIV             | RF                | US        |    763285 | NS      | $763285.10    | 7.72%             |  |  |  | No            |                  1 | On Loan: No      |
| TSY INFL IX N/B                | United States Treasury Inflation Indexed Bonds | CUSIP: 9128286N5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1134346 | PA      | $1103711.24   | 11.17%            | 2024-04-15      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| TSY INFL IX N/B                | United States Treasury Inflation Indexed Bonds | CUSIP: 912828B25<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1123945 | PA      | $1100590.03   | 11.13%            | 2024-01-15      | Fixed         | 0.62%                 | No            |                  2 | On Loan: No      |
| TSY INFL IX N/B                | United States Treasury Inflation Indexed Bonds | CUSIP: 912828H45<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1157553 | PA      | $1111293.11   | 11.24%            | 2025-01-15      | Fixed         | 0.25%                 | No            |                  2 | On Loan: No      |
| TSY INFL IX N/B                | United States Treasury Inflation Indexed Bonds | CUSIP: 912828WU0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1129563 | PA      | $1093856.24   | 11.07%            | 2024-07-15      | Fixed         | 0.12%                 | No            |                  2 | On Loan: No      |
| TSY INFL IX N/B                | United States Treasury Inflation Indexed Bonds | CUSIP: 912828XL9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1131003 | PA      | $1087293.66   | 11.00%            | 2025-07-15      | Fixed         | 0.38%                 | No            |                  2 | On Loan: No      |
| TSY INFL IX N/B                | United States Treasury Inflation Indexed Bonds | CUSIP: 912828YL8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1138319 | PA      | $1097040.43   | 11.10%            | 2024-10-15      | Fixed         | 0.12%                 | No            |                  2 | On Loan: No      |
| TSY INFL IX N/B                | United States Treasury Inflation Indexed Bonds | CUSIP: 912828ZJ2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1153740 | PA      | $1100537.31   | 11.13%            | 2025-04-15      | Fixed         | 0.12%                 | No            |                  2 | On Loan: No      |
| TSY INFL IX N/B                | United States Treasury Inflation Indexed Bonds | CUSIP: 91282CAQ4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1148540 | PA      | $1092692.10   | 11.05%            | 2025-10-15      | Fixed         | 0.12%                 | No            |                  2 | On Loan: No      |
| N/A                            | INFLATION SWAP REC CPI PAY 2.89% 06/30/2027    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |         1 | NC      | $11449.42     | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | IR SWAPTION PAYER 4.40% 6/28/2024              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCR              |  | US        |  20000000 | NC      | $241920.00    | 2.45%             |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2023-02-27

**Name of Applicant:** Tidal ETF Trust

**Signature:** /s/ Aaron Perkovich

**Name of Signer:** Aaron Perkovich

**Title:** Treasurer/Principal Financial Officer