# EDGAR Filing Document

**Accession Number:** 0001742912
**File Stem:** 0002000324-25-002471
**Filing Date:** 2025-7
**Character Count:** 27150
**Document Hash:** ee73305248227f05abd2194582c5edc8
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002000324-25-002471.hdr.sgml**: 20250729

**ACCESSION NUMBER**: 0002000324-25-002471

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250531

**FILED AS OF DATE**: 20250729

**DATE AS OF CHANGE**: 20250729

**PERIOD START**: 20250831

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Tidal Trust I
- **CENTRAL INDEX KEY:** 0001742912

**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:** 811-23377
- **FILM NUMBER:** 251158212

**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
- **DATE OF NAME CHANGE:** 20180606

## Series and Classes Contracts Data

### Unlimited HFND Multi-Strategy Return Tracker ETF (Series ID: S000077333)

| Class ID   | Class Name                                       | Ticker Symbol   |
|:---|:---|:---|
| C000237694 | Unlimited HFND Multi-Strategy Return Tracker ETF | HFND            |

## Nport-Ex

**Unlimited HFND Multi-Strategy Return Tracker ETF**

**Consolidated Schedule of Investments**

**May 31, 2025 (Unaudited)**

---

| | | |
|:---|:---|:---|
| **EXCHANGE TRADED FUNDS - 49.0%** | **Shares** | **Value** |
| Consumer Discretionary Select Sector SPDR Fund | 992 | $212090 |
| Energy Select Sector SPDR Fund | 400 | 32612 |
| Financial Select Sector SPDR Fund | 31602 | 1610438 |
| Health Care Select Sector SPDR Fund | 171 | 22681 |
| Industrial Select Sector SPDR Fund | 1427 | 203804 |
| Invesco Senior Loan ETF | 35973 | 750397 |
| iShares Agency Bond ETF | 18069 | 1971509 |
| iShares CMBS ETF | 11713 | 565035 |
| iShares Convertible Bond ETF | 12262 | 1067285 |
| iShares iBoxx $ Investment Grade Corporate Bond ETF | 3535 | 380967 |
| iShares J.P. Morgan EM High Yield Bond ETF | 15768 | 602811 |
| iShares MSCI Brazil ETF | 177 | 4816 |
| iShares MSCI China ETF | 8191 | 432649 |
| iShares MSCI Hong Kong ETF | 2959 | 56043 |
| iShares MSCI India ETF | 82 | 4453 |
| iShares MSCI Mexico ETF | 238 | 14320 |
| iShares MSCI South Korea ETF | 2148 | 130233 |
| iShares TIPS Bond ETF | 3356 | 366777 |
| SPDR S&P Homebuilders ETF | 2018 | 190217 |
| SPDR S&P Retail ETF | 1469 | 111541 |
| Utilities Select Sector SPDR Fund | 2709 | 221921 |
| Vanguard Emerging Markets Government Bond ETF | 12311 | 788889 |
| Vanguard FTSE Europe ETF | 12200 | 936472 |
| Vanguard Growth ETF | 3778 | 1560843 |
| Vanguard Russell 2000 ETF | 1368 | 113530 |
| Vanguard US Momentum Factor ETF | 5447 | 895650 |
| Vanguard Value ETF | 2702 | 463096 |
| **TOTAL EXCHANGE TRADED FUNDS (Cost $13,072,655)** |  | 13711079 |
| **SHORT-TERM INVESTMENTS - 44.9%** |  |  |
| **Money Market Funds - 44.9%** |  |  |
| First American Government Obligations Fund - Class X, 4.23% <sup>(a)(b)</sup> | 12557825 | 12557825 |
| **TOTAL SHORT-TERM INVESTMENTS (Cost $12,557,825)** |  | 12557825 |
| **TOTAL INVESTMENTS - 93.9% (Cost $25,630,480)** |  | 26268904 |
| Other Assets in Excess of Liabilities - 6.1% |  | 1716457 |
| **TOTAL NET ASSETS - 100.0%** |  | $27985361 |

---

Percentages are stated as a percent of net assets.

CMBS - Commercial Mortgage-Backed Security

TIPS – Treasury Inflation-Protected Shares

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

(b) Fair value of this security exceeds 25% of the Fund's net assets. Additional information for this security, including the financial statements, is available from the SEC's EDGAR database at www.sec.gov.

**Unlimited HFND Multi-Strategy Return Tracker ETF**

**Consolidated Schedule of Futures Contracts**

**May 31, 2025 (Unaudited)**

The Unlimited HFND Multi-Strategy Return Tracker ETF and the Unlimited HFND Cayman Subsidiary had the following futures contracts outstanding with PhillipCapital, Inc. as of May 31, 2025.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Contracts<br> Purchased** | **Expiration Date** | **Notional Value** | **Value / Unrealized<br> Appreciation<br> (Depreciation)** |
| &nbsp;&nbsp;&nbsp;Australian Dollar/US Dollar Cross Currency Rate | 1 | 06/16/2025 | $64435 | $(6) |
| &nbsp;&nbsp;&nbsp;Bloomberg Commodity Index | 8 | 06/18/2025 | 79992 | (2202) |
| &nbsp;&nbsp;&nbsp;British Pound/US Dollar Cross Currency Rate | 10 | 06/16/2025 | 841875 | 2060 |
| &nbsp;&nbsp;&nbsp;Euro/US Dollar Cross Currency Rate | 3 | 06/16/2025 | 426375 | 1296 |
| &nbsp;&nbsp;&nbsp;Gold | 4 | 08/27/2025 | 1326160 | (2822) |
| &nbsp;&nbsp;&nbsp;iBoxx iShares Bond Index | 38 | 09/02/2025 | 6521750 | 6839 |
| &nbsp;&nbsp;&nbsp;Japanese Yen/US Dollar Cross Currency Rate | 1 | 06/16/2025 | 87019 | (918) |
| &nbsp;&nbsp;&nbsp;London Metals - Aluminum<sup>(a)</sup> | 4 | 06/16/2025 | 243792 | (27091) |
| &nbsp;&nbsp;&nbsp;London Metals - Zinc<sup>(a)</sup> | 4 | 06/16/2025 | 260586 | (30797) |
| &nbsp;&nbsp;&nbsp;MSCI EAFE Index | 9 | 06/20/2025 | 1172025 | 51539 |
| &nbsp;&nbsp;&nbsp;MSCI Emerging Markets Index | 71 | 06/20/2025 | 4080015 | 303334 |
| &nbsp;&nbsp;&nbsp;Nikkei 225 Index | 5 | 06/12/2025 | 943125 | 64344 |
| &nbsp;&nbsp;&nbsp;U.S. Dollar Index | 1 | 06/16/2025 | 99259 | (1191) |
| &nbsp;&nbsp;&nbsp;U.S. Treasury Long Bonds | 3 | 09/19/2025 | 338344 | 2329 |
|  |  |  |  | $366714 |
| **Description** | **Contracts<br> Sold** | **Expiration Date** | **Notional Value** | **Value / Unrealized<br> Appreciation<br> (Depreciation)** |
| &nbsp;&nbsp;&nbsp;Canadian Dollar/US Dollar Cross Currency Rate | (16) | 06/17/2025 | $1167280 | $(7350) |
| &nbsp;&nbsp;&nbsp;London Metals - Aluminum<sup>(a)</sup> | (4) | 06/16/2025 | 243792 | 25188 |
| &nbsp;&nbsp;&nbsp;London Metals - Zinc<sup>(a)</sup> | (4) | 06/16/2025 | 260586 | 35418 |
| &nbsp;&nbsp;&nbsp;Swiss Franc/US Dollar Cross Currency Rate | (4) | 06/16/2025 | 609150 | (7614) |
| &nbsp;&nbsp;&nbsp;U.S. Treasury 10 Year Notes | (5) | 09/19/2025 | 553750 | (1962) |
| &nbsp;&nbsp;&nbsp;U.S. Treasury 5 Year Notes | (51) | 09/30/2025 | 5517563 | (17467) |
|  |  |  |  | $26213 |
| **Net Unrealized Appreciation (Depreciation)** |  |  |  | $392927 |

---

(a) London Metal Exchange ("LME") futures contracts settle on their respective maturity date, and do not have daily cash movements like other futures contracts.

**Summary of Fair Value Disclosure as of May 31, 2025 (Unaudited)**

Unlimited HFND Multi-Strategy Return Tracker 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 May 31, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Assets:** | | | | |
| <u>Investments:</u> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Exchange Traded Funds | $13711079 | $— | $— | $13711079 |
| &nbsp;&nbsp;&nbsp;&nbsp;Money Market Funds | 12557825 |  |  | 12557825 |
| Total Investments | $26268904 | $— | $— | $26268904 |
| <u>Other Financial Instruments:</u> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Futures Contracts\* | $492347 | $— | $— | $492347 |
| Total Other Financial Instruments | $492347 | $— | $— | $492347 |
| **Liabilities:** |  |  |  |  |
| <u>Other Financial Instruments:</u> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Futures Contracts\* | $(99420) | $— | $— | $(99420) |
| Total Other Financial Instruments | $(99420) | $— | $— | $(99420) |

---

\* The fair value of the Fund's investment represents the unrealized appreciation (depreciation) as of May 31, 2025.

## 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 I

- **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:** 8449867676

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

- **a. Name of Series:** Unlimited Hfnd Multi-strategy Return Tracker ETF

- **b. EDGAR series identifier (if any):** S000077333

- **c. LEI of Series:** 549300VSZ0XMYXPWVK70

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

- **a. Date of fiscal year-end:** 2025-08-31

- **b. Date as of which information is reported:** 2025-05-31

**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:** $28076221.89

**Total Liabilities:** $90825.82

**Net Assets:** $27985396.07

**Amount of Assets Invested in Other Investment Companies:** $409651.10

**Cash Not Reported:** $2097078.69

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000237694 | -2.89%               | -1.93%               | 2.40%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-177417.06              | $-654997.06                                |
| Month 2  | $-722284.62              | $131501.06                                 |
| Month 3  | $3697.90                 | $312971.93                                 |

**Designated Index Information**

- **Index Name:** S&P 500 Total Return Index

- **Index Identifier:** SPTR

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Consumer Discretionary Select  | Consumer Discretionary Select Sector SPDR Fund      | CUSIP: 81369Y407<br>LEI: 549300CD2I087Y919K79 | Long             | EC               | RF                | US        |       992 | NS      | $212089.60    | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Energy Select Sector SPDR Fund | Energy Select Sector SPDR Fund                      | CUSIP: 81369Y506<br>LEI: 54930064FLK0RD4TRU75 | Long             | EC               | RF                | US        |       226 | NS      | $18425.78     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Financial Select Sector SPDR F | Financial Select Sector SPDR Fund                   | CUSIP: 81369Y605<br>LEI: 549300Y12KQ6ZG08NY28 | Long             | EC               | RF                | US        |     30986 | NS      | $1579046.56   | 5.64%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Government Obli | First American Government Obligations Fund          | CUSIP: 31846V336<br>LEI: 549300R5MYM6VZF1RM44 | Long             | STIV             | RF                | US        |  12557825 | NS      | $12557824.60  | 44.87%            |  |  |  | No            |                  1 | On Loan: No      |
| Health Care Select Sector SPDR | Health Care Select Sector SPDR Fund                 | CUSIP: 81369Y209<br>LEI: 549300EJNY3KKJHPOY44 | Long             | EC               | RF                | US        |       171 | NS      | $22681.44     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Industrial Select Sector SPDR  | Industrial Select Sector SPDR Fund                  | CUSIP: 81369Y704<br>LEI: 549300HQI51T8KP6U325 | Long             | EC               | RF                | US        |      1427 | NS      | $203804.14    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Invesco Senior Loan ETF        | Invesco Senior Loan ETF                             | CUSIP: 46138G508<br>LEI: 549300SIHU6DQELRNG59 | Long             | EC               | RF                | US        |     34805 | NS      | $726032.30    | 2.59%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Agency Bond ETF        | iShares Agency Bond ETF                             | CUSIP: 464288166<br>LEI: N/A                  | Long             | EC               | RF                | US        |     17484 | NS      | $1907679.24   | 6.82%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares CMBS ETF               | iShares CMBS ETF                                    | CUSIP: 46429B366<br>LEI: N/A                  | Long             | EC               | RF                | US        |     11364 | NS      | $548199.36    | 1.96%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Convertible Bond ETF   | iShares Convertible Bond ETF                        | CUSIP: 46435G102<br>LEI: 5493009GXGY863LN1X56 | Long             | EC               | RF                | US        |     11886 | NS      | $1034557.44   | 3.70%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares iBoxx $ Investment Gra | iShares iBoxx $ Investment Grade Corporate Bond ETF | CUSIP: 464287242<br>LEI: 549300FYCXFXG8POR355 | Long             | EC               | RF                | US        |      3535 | NS      | $380966.95    | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares J.P. Morgan EM High Yi | iShares J.P. Morgan EM High Yield Bond ETF          | CUSIP: 464286285<br>LEI: 549300DZF05WBBY0EZ78 | Long             | EC               | RF                | US        |     15301 | NS      | $584957.23    | 2.09%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares MSCI Brazil ETF        | iShares MSCI Brazil ETF                             | CUSIP: 464286400<br>LEI: N/A                  | Long             | EC               | RF                | US        |       177 | NS      | $4816.17      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares MSCI China ETF         | iShares MSCI China ETF                              | CUSIP: 46429B671<br>LEI: 549300Q0IWAYMYXW0R77 | Long             | EC               | RF                | US        |      7648 | NS      | $403967.36    | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares MSCI Hong Kong ETF     | iShares MSCI Hong Kong ETF                          | CUSIP: 464286871<br>LEI: N/A                  | Long             | EC               | RF                | US        |      2959 | NS      | $56043.46     | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares MSCI India ETF         | iShares MSCI India ETF                              | CUSIP: 46429B598<br>LEI: 549300282VMCFH7S5848 | Long             | EC               | RF                | US        |        82 | NS      | $4453.42      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares MSCI Mexico ETF        | iShares MSCI Mexico ETF                             | CUSIP: 464286822<br>LEI: 549300SQ92O6OZ19G545 | Long             | EC               | RF                | US        |       238 | NS      | $14320.46     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares MSCI South Korea ETF   | iShares MSCI South Korea ETF                        | CUSIP: 464286772<br>LEI: N/A                  | Long             | EC               | RF                | US        |      2148 | NS      | $130233.24    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares TIPS Bond ETF          | iShares TIPS Bond ETF                               | CUSIP: 464287176<br>LEI: 549300EHD1VQKMRQ0829 | Long             | EC               | RF                | US        |      3356 | NS      | $366777.24    | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | BCOM Comdty Ind   Jun25                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |        20 | NC      | $-5504.75     | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | BP CURRENCY FUT   Jun25                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         7 | NC      | $2076.76      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | C$ CURRENCY FUT   Jun25                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |       -15 | NC      | $-7344.30     | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | CHF CURRENCY FUT  Jun25                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |        -3 | NC      | $-7608.61     | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | DOLLAR INDEX      Jun25                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $-1191.37     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | EURO FX CURR FUT  Jun25                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         4 | NC      | $1208.77      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | GOLD 100 OZ FUTR  Aug25                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | US        |         4 | NC      | $-2822.48     | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | iBoxx iShr Bnd Id Sep25                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |        37 | NC      | $6804.85      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | JPN YEN CURR FUT  Jun25                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $-918.12      | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | LME PRI ALUM FUTR Jun25                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | GB        |        -4 | NC      | $25187.50     | -0.10%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | LME PRI ALUM FUTR Jun25                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | GB        |         4 | NC      | $-27091.00    | -0.10%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | LME ZINC FUTURE   Jun25                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | GB        |        -4 | NC      | $35418.50     | -0.11%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | LME ZINC FUTURE   Jun25                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DCO              |  | GB        |         4 | NC      | $-30797.00    | -0.11%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | MSCI EAFE         Jun25                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |         9 | NC      | $51539.19     | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | MSCI EmgMkt       Jun25                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |        67 | NC      | $303375.26    | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | NIKKEI 225  (CME) Jun25                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |         5 | NC      | $64344.15     | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | US 10YR NOTE (CBT)Sep25                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |        -4 | NC      | $-1956.88     | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | US 5YR NOTE (CBT) Sep25                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |       -49 | NC      | $-17457.23    | -0.06%            |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | US LONG BOND(CBT) Sep25                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DIR              |  | US        |         3 | NC      | $2329.08      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| SPDR S&P Homebuilders ETF      | SPDR S&P Homebuilders ETF                           | CUSIP: 78464A888<br>LEI: 549300MSE80LL1UJS132 | Long             | EC               | RF                | US        |      2018 | NS      | $190216.68    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| SPDR S&P Retail ETF            | SPDR S&P Retail ETF                                 | CUSIP: 78464A714<br>LEI: 549300HHG63HQV071458 | Long             | EC               | RF                | US        |      1469 | NS      | $111541.17    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Utilities Select Sector SPDR F | Utilities Select Sector SPDR Fund                   | CUSIP: 81369Y886<br>LEI: 549300ERQDM80PRYUH21 | Long             | EC               | RF                | US        |      2709 | NS      | $221921.28    | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard Emerging Markets Gove | Vanguard Emerging Markets Government Bond ETF       | CUSIP: 921946885<br>LEI: N/A                  | Long             | EC               | RF                | US        |     11964 | NS      | $766653.12    | 2.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard FTSE Europe ETF       | Vanguard FTSE Europe ETF                            | CUSIP: 922042874<br>LEI: N/A                  | Long             | EC               | RF                | US        |     11877 | NS      | $911678.52    | 3.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard Growth ETF            | Vanguard Growth ETF                                 | CUSIP: 922908736<br>LEI: N/A                  | Long             | EC               | RF                | US        |      3721 | NS      | $1537293.94   | 5.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard Russell 2000 ETF      | Vanguard Russell 2000 ETF                           | CUSIP: 92206C664<br>LEI: N/A                  | Long             | EC               | RF                | US        |      1175 | NS      | $97513.25     | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard US Momentum Factor ET | Vanguard US Momentum Factor ETF                     | CUSIP: 921935508<br>LEI: 549300EXHTSUFP48MT41 | Long             | EC               | RF                | US        |      5347 | NS      | $879207.21    | 3.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Vanguard Value ETF             | Vanguard Value ETF                                  | CUSIP: 922908744<br>LEI: N/A                  | Long             | EC               | RF                | US        |      2702 | NS      | $463095.78    | 1.65%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-07-29

**Name of Applicant:** Tidal Trust I

**Signature:** /s/ Aaron Perkovich

**Name of Signer:** Aaron Perkovich

**Title:** Treasurer/Principal Financial Officer