# EDGAR Filing Document

**Accession Number:** 0001924868
**File Stem:** 0000894189-26-002403
**Filing Date:** 2026-1
**Character Count:** 29448
**Document Hash:** bb857098208df18160686a4359da42ad
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000894189-26-002403.hdr.sgml**: 20260128

**ACCESSION NUMBER**: 0000894189-26-002403

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251130

**FILED AS OF DATE**: 20260128

**DATE AS OF CHANGE**: 20260128

**PERIOD START**: 20260831

**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:** 26570172

**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

### Defiance AI & Power Infrastructure ETF (Series ID: S000090210)

| Class ID   | Class Name                             | Ticker Symbol   |
|:---|:---|:---|
| C000257147 | Defiance AI & Power Infrastructure ETF | AIPO            |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **Defiance AI and Power Infrastructure ETF** | **Defiance AI and Power Infrastructure ETF** | **Defiance AI and Power Infrastructure ETF** |
| **Schedule of Investments** | **Schedule of Investments** | **Schedule of Investments** |
| **November 30, 2025 (Unaudited)** | **November 30, 2025 (Unaudited)** | **November 30, 2025 (Unaudited)** |
| **COMMON STOCKS - 97.9%** | **Shares** | **Value**  |
| **Commercial Services - 8.6%** | **Commercial Services - 8.6%** | |
| Quanta Services, Inc. | 19864 | $9234376 |
| **Electric - 16.0%** | **Electric - 16.0%** |  |
| AES Corp. | 22637 | 318276 |
| Constellation Energy Corp. | 10388 | 3784972 |
| Dominion Energy, Inc. | 33843 | 2124325 |
| Evergy, Inc. | 8576 | 665926 |
| Oklo, Inc. - Class A <sup>(a)</sup> | 23184 | 2118554 |
| PG&E Corp. | 63085 | 1016930 |
| Pinnacle West Capital Corp. | 3523 | 320100 |
| Portland General Electric Co. | 4307 | 218882 |
| Public Service Enterprise Group, Inc. | 18417 | 1538188 |
| TXNM Energy, Inc. | 3870 | 226201 |
| Vistra Corp. | 16629 | 2974263 |
| Xcel Energy, Inc. | 22462 | 1844355 |
|  |  | 17150972 |
| **Electrical Components & Equipment - 9.9%** | **Electrical Components & Equipment - 9.9%** |  |
| American Superconductor Corp. <sup>(a)</sup> | 17300 | 537857 |
| Eaton Corp. PLC | 21367 | 7390632 |
| EnerSys | 9565 | 1368847 |
| Generac Holdings, Inc. <sup>(a)</sup> | 9122 | 1383169 |
|  |  | 10680505 |
| **Electronics - 5.3%** | **Electronics - 5.3%** |  |
| Hubbell, Inc. | 6070 | 2618780 |
| Itron, Inc. <sup>(a)</sup> | 9079 | 899184 |
| nVent Electric PLC | 20241 | 2171252 |
|  |  | 5689216 |
| **Energy - Alternate Sources - 4.7%** | **Energy - Alternate Sources - 4.7%** |  |
| Eos Energy Enterprises, Inc. <sup>(a)</sup> | 138915 | 2090671 |
| Fluence Energy, Inc. - Class A <sup>(a)</sup> | 104105 | 2044622 |
| Shoals Technologies Group, Inc. - Class A <sup>(a)</sup> | 104106 | 873449 |
|  |  | 5008742 |
| **Engineering & Construction - 5.4%** | **Engineering & Construction - 5.4%** |  |
| Dycom Industries, Inc. <sup>(a)</sup> | 3541 | 1280178 |
| MasTec, Inc. <sup>(a)</sup> | 10486 | 2242746 |
| MYR Group, Inc. <sup>(a)</sup> | 2943 | 660174 |
| Sterling Infrastructure, Inc. <sup>(a)</sup> | 4818 | 1658885 |
|  |  | 5841983 |
| **Information Technology - 5.5%** | **Information Technology - 5.5%** |  |
| ARM Holdings PLC - ADR <sup>(a)</sup> | 7041 | 954478 |
| Lattice Semiconductor Corp. <sup>(a)</sup> | 15454 | 1085025 |
| NVIDIA Corp. | 21796 | 3857892 |
|  |  | 5897395 |
| **Machinery - Construction & Mining - 21.9%** | **Machinery - Construction & Mining - 21.9%** |  |
| Argan, Inc. | 2760 | 1090752 |
| Bloom Energy Corp. - Class A <sup>(a)</sup> | 27059 | 2955925 |
| BWX Technologies, Inc. | 11834 | 2116866 |
| GE Vernova, Inc. | 12010 | 7203238 |
| NANO Nuclear Energy, Inc. <sup>(a)</sup> | 28398 | 928614 |
| Net Power, Inc. - Class A <sup>(a)</sup> | 316339 | 917383 |
| NuScale Power Corp. - Class A <sup>(a)</sup> | 47411 | 948220 |
| Vertiv Holdings Co. | 41034 | 7375041 |
|  |  | 23536039 |
| **Machinery-Diversified - 0.4%** | **Machinery-Diversified - 0.4%** |  |
| Power Solutions International, Inc. <sup>(a)</sup> | 8300 | 448864 |
| **Metal Fabricate & Hardware - 1.3%** | **Metal Fabricate & Hardware - 1.3%** |  |
| Valmont Industries, Inc. | 3317 | 1369822 |
| **Mining - 6.9%** | **Mining - 6.9%** |  |
| Cameco Corp. | 53704 | 4753341 |
| Centrus Energy Corp. - Class A <sup>(a)</sup> | 4625 | 1199262 |
| NexGen Energy Ltd. <sup>(a)</sup> | 158612 | 1421164 |
|  |  | 7373767 |
| **Semiconductors - 9.5%** | **Semiconductors - 9.5%** |  |
| Advanced Micro Devices, Inc. <sup>(a)</sup> | 11223 | 2441339 |
| Astera Labs, Inc. <sup>(a)</sup> | 4689 | 738846 |
| Broadcom, Inc. | 10484 | 4224633 |
| Marvell Technology, Inc. | 17296 | 1546263 |
| Rambus, Inc. <sup>(a)</sup> | 13427 | 1283218 |
|  |  | 10234299 |
| **Software - 1.0%** | **Software - 1.0%** |  |
| Nebius Group NV - Class A <sup>(a)</sup> | 11477 | 1088823 |
| **Telecommunications - 1.5%** | **Telecommunications - 1.5%** |  |
| DigitalBridge Group, Inc. - Class A | 90888 | 882523 |
| Preformed Line Products Co. | 3684 | 756141 |
|  |  | 1638664 |
| **TOTAL COMMON STOCKS** (Cost $109,853,106) | **TOTAL COMMON STOCKS** (Cost $109,853,106) | 105193467 |
| **REAL ESTATE INVESTMENT TRUSTS - COMMON - 2.0%** |  |  |
| Digital Realty Trust, Inc. | 6483 | 1038058 |
| Equinix, Inc. | 1524 | 1148044 |
| **TOTAL REAL ESTATE INVESTMENT TRUSTS - COMMON** (Cost $2,372,599) | **TOTAL REAL ESTATE INVESTMENT TRUSTS - COMMON** (Cost $2,372,599) | 2186102 |
| **SHORT-TERM INVESTMENTS** | **SHORT-TERM INVESTMENTS** | **SHORT-TERM INVESTMENTS** |
| **MONEY MARKET FUNDS - 0.2%** |  |  |
| First American Government Obligations Fund - Class X, 3.92% <sup>(b)</sup> | 189504 | 189504 |
| **TOTAL MONEY MARKET FUNDS** (Cost $189,504) | **TOTAL MONEY MARKET FUNDS** (Cost $189,504) | 189504 |
| **TOTAL INVESTMENTS - 100.1% (**Cost $112,415,209**)** | **TOTAL INVESTMENTS - 100.1% (**Cost $112,415,209**)** | 107569073 |
| Liabilities in Excess of Other Assets - (0.1)% | Liabilities in Excess of Other Assets - (0.1)% | (86414) |
| **TOTAL NET ASSETS - 100.0%** |  | $107482659 |
| Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. |  |

---

ADR - American Depositary Receipt <br> PLC - Public Limited Company

(a) Non-income producing security.

(b) The rate shown represents the 7-day annualized yield as of November 30, 2025.

------

#### Summary of Fair Value Disclosure as of November 30, 2025 (Unaudited)
Defiance AI and Power Infrastructure 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 November 30, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **<u>Level 1</u>** | **<u>Level 2</u>** | **<u>Level 3</u>** | **<u>Total</u>** |
| <u>Investments:</u> |  |  |  |  |
|  &nbsp;&nbsp;&nbsp;&nbsp;Common Stocks | $105193467 | $– | $– | $105193467 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Real Estate Investment Trusts - Common | 2186102 | – | – | 2186102 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Money Market Funds | 189504 | – | – | 189504 |
| Total Investments | $107569073 | $– | $– | $107569073 |
| Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. |

---

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

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

  - **City:** Milwaukee

  - **State:** WI

  - **Foreign country:** US

  - **Zip / Postal Code:** 53204

  - **Telephone number:** 844-986-7700

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

- **a. Name of Series:** Defiance AI and Power Infrastructure ETF

- **b. EDGAR series identifier (if any):** S000090210

- **c. LEI of Series:** 2549003NNK7NSBNZI496

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

- **a. Date of fiscal year-end:** 2026-08-31

- **b. Date as of which information is reported:** 2025-11-30

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $109257304.40

**Total Liabilities:** $1774113.39

**Net Assets:** $107483191.01

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000257147 | 12.46%               | 11.36%               | -7.68%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $308322.09               | $1451181.33                                |
| Month 2  | $1292418.28              | $4211033.84                                |
| Month 3  | $1224432.42              | $-10478536.40                              |

**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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| AES Corp/The                   | AES Corp/The                               | CUSIP: 00130H105<br>LEI: 2NUNNB7D43COUIRE5295 | Long             | EC               | CORP              | US        |     22770 | NS      | $320146.20    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Advanced Micro Devices Inc     | Advanced Micro Devices Inc                 | CUSIP: 007903107<br>LEI: R2I72C950HOYXII45366 | Long             | EC               | CORP              | US        |     11289 | NS      | $2455696.17   | 2.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Oklo Inc                       | Oklo Inc                                   | CUSIP: 02156V109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     23320 | NS      | $2130981.60   | 1.98%             |  |  |  | No            |                  1 | On Loan: No      |
| American Superconductor Corp   | American Superconductor Corp               | CUSIP: 030111207<br>LEI: 549300S9YT8Z8LOK4452 | Long             | EC               | CORP              | US        |     17401 | NS      | $540997.09    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Argan Inc                      | Argan Inc                                  | CUSIP: 04010E109<br>LEI: 529900E4KZWBV9KGBS83 | Long             | EC               | CORP              | US        |      2776 | NS      | $1097075.20   | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| ARM Holdings PLC               | ARM Holdings PLC                           | CUSIP: 042068205<br>LEI: 2138001E66EELTE7Y904 | Long             | EC               | CORP              | GB        |      7082 | NS      | $960035.92    | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Astera Labs Inc                | Astera Labs Inc                            | CUSIP: 04626A103<br>LEI: 529900LJL8TUEGF7HG20 | Long             | EC               | CORP              | US        |      4716 | NS      | $743100.12    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| BWX Technologies Inc           | BWX Technologies Inc                       | CUSIP: 05605H100<br>LEI: 549300NP85N265KWMS58 | Long             | EC               | CORP              | US        |     11903 | NS      | $2129208.64   | 1.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Bloom Energy Corp              | Bloom Energy Corp                          | CUSIP: 093712107<br>LEI: 549300XB5J9BFW5JXV97 | Long             | EC               | CORP              | US        |     27218 | NS      | $2973294.32   | 2.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadcom Inc                   | Broadcom Inc                               | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |     10545 | NS      | $4249213.20   | 3.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Cameco Corp                    | Cameco Corp                                | CUSIP: 13321L108<br>LEI: N4BHALMXL3GMZKCUON55 | Long             | EC               | CORP              | CA        |     54020 | NS      | $4781310.20   | 4.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Centrus Energy Corp            | Centrus Energy Corp                        | CUSIP: 15643U104<br>LEI: 549300G6VDK9G8276661 | Long             | EC               | CORP              | US        |      4652 | NS      | $1206263.60   | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Constellation Energy Corp      | Constellation Energy Corp                  | CUSIP: 21037T109<br>LEI: 549300F8Y20RYGNGV346 | Long             | EC               | CORP              | US        |     10449 | NS      | $3807197.64   | 3.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Digital Realty Trust Inc       | Digital Realty Trust Inc                   | CUSIP: 253868103<br>LEI: 549300HKCZ31D08NEI41 | Long             | EC               | CORP              | US        |      6521 | NS      | $1044142.52   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| DigitalBridge Group Inc        | DigitalBridge Group Inc                    | CUSIP: 25401T603<br>LEI: 549300XG87L902AGBO89 | Long             | EC               | CORP              | US        |     91423 | NS      | $887717.33    | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Eos Energy Enterprises Inc     | Eos Energy Enterprises Inc                 | CUSIP: 29415C101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    124891 | NS      | $1879609.55   | 1.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Equinix Inc                    | Equinix Inc                                | CUSIP: 29444U700<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | EC               | CORP              | US        |      1532 | NS      | $1154070.92   | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Evergy Inc                     | Evergy Inc                                 | CUSIP: 30034W106<br>LEI: 549300PGTHDQY6PSUI61 | Long             | EC               | CORP              | US        |      8626 | NS      | $669808.90    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Government Obli | First American Government Obligations Fund | CUSIP: 31846V336<br>LEI: 549300R5MYM6VZF1RM44 | Long             | STIV             | RF                | US        |    189504 | NS      | $189503.89    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Fluence Energy Inc             | Fluence Energy Inc                         | CUSIP: 34379V103<br>LEI: 25490043LHZ97BT5PP29 | Long             | EC               | CORP              | US        |    104718 | NS      | $2056661.52   | 1.91%             |  |  |  | No            |                  1 | On Loan: No      |
| GE Vernova Inc                 | GE Vernova Inc                             | CUSIP: 36828A101<br>LEI: 254900DP080RU6OK2553 | Long             | EC               | CORP              | US        |     12080 | NS      | $7245221.60   | 6.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Generac Holdings Inc           | Generac Holdings Inc                       | CUSIP: 368736104<br>LEI: 529900S2H2AHJHSFFI84 | Long             | EC               | CORP              | US        |      9175 | NS      | $1391205.25   | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Hubbell Inc                    | Hubbell Inc                                | CUSIP: 443510607<br>LEI: 54930088VDQ6840Y6597 | Long             | EC               | CORP              | US        |      6105 | NS      | $2633880.15   | 2.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Itron Inc                      | Itron Inc                                  | CUSIP: 465741106<br>LEI: 24F6LSZD18II6ICG6S41 | Long             | EC               | CORP              | US        |      9132 | NS      | $904433.28    | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Lattice Semiconductor Corp     | Lattice Semiconductor Corp                 | CUSIP: 518415104<br>LEI: 549300LRBBPZDQ2II567 | Long             | EC               | CORP              | US        |     15545 | NS      | $1091414.45   | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| MYR Group Inc                  | MYR Group Inc                              | CUSIP: 55405W104<br>LEI: 529900G1IMMZHOQ17I54 | Long             | EC               | CORP              | US        |      2960 | NS      | $663987.20    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Marvell Technology Inc         | Marvell Technology Inc                     | CUSIP: 573874104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     17397 | NS      | $1555291.80   | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| MasTec Inc                     | MasTec Inc                                 | CUSIP: 576323109<br>LEI: 549300TMDIT8WREDOF45 | Long             | EC               | CORP              | US        |     10547 | NS      | $2255792.36   | 2.10%             |  |  |  | No            |                  1 | On Loan: No      |
| NANO Nuclear Energy Inc        | NANO Nuclear Energy Inc                    | CUSIP: 63010H108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     28565 | NS      | $934075.50    | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Net Power Inc                  | Net Power Inc                              | CUSIP: 64107A105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    318202 | NS      | $922785.80    | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| NexGen Energy Ltd              | NexGen Energy Ltd                          | CUSIP: 65340P106<br>LEI: 529900N0IXNXB3IP7F06 | Long             | EC               | CORP              | CA        |    142265 | NS      | $1274694.40   | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA Corp                    | NVIDIA Corp                                | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |     21924 | NS      | $3880548.00   | 3.61%             |  |  |  | No            |                  1 | On Loan: No      |
| NuScale Power Corp             | NuScale Power Corp                         | CUSIP: 67079K100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     32210 | NS      | $644200.00    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| PG&E Corp                      | PG&E Corp                                  | CUSIP: 69331C108<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | EC               | CORP              | US        |     63456 | NS      | $1022910.72   | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Pinnacle West Capital Corp     | Pinnacle West Capital Corp                 | CUSIP: 723484101<br>LEI: TWSEY0NEDUDCKS27AH81 | Long             | EC               | CORP              | US        |      3543 | NS      | $321916.98    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| nVent Electric PLC             | nVent Electric PLC                         | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | GB        |     20360 | NS      | $2184017.20   | 2.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Nebius Group NV                | Nebius Group NV                            | CUSIP: N/A<br>LEI: 549300GGZHJ5Q1B18P93       | Long             | EC               | CORP              | NL        |     11544 | NS      | $1095179.28   | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Dominion Energy Inc            | Dominion Energy Inc                        | CUSIP: 25746U109<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | EC               | CORP              | US        |     34042 | NS      | $2136816.34   | 1.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Dycom Industries Inc           | Dycom Industries Inc                       | CUSIP: 267475101<br>LEI: 549300F56EKTHQI3WT60 | Long             | EC               | CORP              | US        |      3561 | NS      | $1287408.33   | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| EnerSys                        | EnerSys                                    | CUSIP: 29275Y102<br>LEI: 7ZS3DE5PN30BYUJFWP05 | Long             | EC               | CORP              | US        |      9621 | NS      | $1376861.31   | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| TXNM Energy Inc                | TXNM Energy Inc                            | CUSIP: 69349H107<br>LEI: 5493003JOBJGLZSDDQ28 | Long             | EC               | CORP              | US        |      3892 | NS      | $227487.40    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Portland General Electric Co   | Portland General Electric Co               | CUSIP: 736508847<br>LEI: GJOUP9M7C39GLSK9R870 | Long             | EC               | CORP              | US        |      4332 | NS      | $220152.24    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Power Solutions International  | Power Solutions International Inc          | CUSIP: 73933G202<br>LEI: 549300JWGWDXC70SNH31 | Long             | EC               | CORP              | US        |      8348 | NS      | $451459.84    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Preformed Line Products Co     | Preformed Line Products Co                 | CUSIP: 740444104<br>LEI: 549300EYH53XDJID2098 | Long             | EC               | CORP              | US        |      3705 | NS      | $760451.25    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Public Service Enterprise Grou | Public Service Enterprise Group Inc        | CUSIP: 744573106<br>LEI: PUSS41EMO3E6XXNV3U28 | Long             | EC               | CORP              | US        |     18525 | NS      | $1547208.00   | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Quanta Services Inc            | Quanta Services Inc                        | CUSIP: 74762E102<br>LEI: SHVRXXEACT60MMH07S24 | Long             | EC               | CORP              | US        |     19980 | NS      | $9288302.40   | 8.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Rambus Inc                     | Rambus Inc                                 | CUSIP: 750917106<br>LEI: 2549000211GDCQSLV833 | Long             | EC               | CORP              | US        |     13506 | NS      | $1290768.42   | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Shoals Technologies Group Inc  | Shoals Technologies Group Inc              | CUSIP: 82489W107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    104719 | NS      | $878592.41    | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Sterling Infrastructure Inc    | Sterling Infrastructure Inc                | CUSIP: 859241101<br>LEI: 549300RZIK6K1215XU51 | Long             | EC               | CORP              | US        |      4846 | NS      | $1668526.26   | 1.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Valmont Industries Inc         | Valmont Industries Inc                     | CUSIP: 920253101<br>LEI: 5493009ZGZJJ8F77JN08 | Long             | EC               | CORP              | US        |      3336 | NS      | $1377667.92   | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Vertiv Holdings Co             | Vertiv Holdings Co                         | CUSIP: 92537N108<br>LEI: 549300KTTIRAOGXCRV69 | Long             | EC               | CORP              | US        |     41275 | NS      | $7418355.75   | 6.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Vistra Corp                    | Vistra Corp                                | CUSIP: 92840M102<br>LEI: 549300KP43CPCUJOOG15 | Long             | EC               | CORP              | US        |     16726 | NS      | $2991612.36   | 2.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Xcel Energy Inc                | Xcel Energy Inc                            | CUSIP: 98389B100<br>LEI: LGJNMI9GH8XIDG5RCM61 | Long             | EC               | CORP              | US        |     22594 | NS      | $1855193.34   | 1.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Eaton Corp PLC                 | Eaton Corp PLC                             | CUSIP: N/A<br>LEI: 549300VDIGTMXUNT7H71       | Long             | EC               | CORP              | IE        |     21492 | NS      | $7433867.88   | 6.92%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-01-28

**Name of Applicant:** Tidal Trust II

**Signature:** /s/ Peter Chappy

**Name of Signer:** Peter Chappy

**Title:** Assistant Treasurer