# EDGAR Filing Document

**Accession Number:** 0001742912
**File Stem:** 0001145549-25-048759
**Filing Date:** 2025-7
**Character Count:** 34533
**Document Hash:** 9c03bf2e5d4e075b45f0d40538720540
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-25-048759.hdr.sgml**: 20250728

**ACCESSION NUMBER**: 0001145549-25-048759

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250531

**FILED AS OF DATE**: 20250728

**DATE AS OF CHANGE**: 20250728

**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:** 251155094

**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

### Leatherback Long/Short Alternative Yield ETF (Series ID: S000069694)

| Class ID   | Class Name                                   | Ticker Symbol   |
|:---|:---|:---|
| C000222268 | Leatherback Long/Short Alternative Yield ETF | LBAY            |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **Leatherback Long/Short Alternative Yield ETF** | **Leatherback Long/Short Alternative Yield ETF** | **Leatherback Long/Short Alternative Yield ETF** |
| **Schedule of Investments** | **Schedule of Investments** | **Schedule of Investments** |
| **May 31, 2025 (Unaudited)** | **May 31, 2025 (Unaudited)** | **May 31, 2025 (Unaudited)** |
| **COMMON STOCKS - 112.4%** | **Shares** | **Value**  |
| **Aerospace & Defense - 3.6%** | **Aerospace & Defense - 3.6%** | |
| L3Harris Technologies, Inc. | 4595 | $1122742 |
| **Agriculture - 7.6%** | **Agriculture - 7.6%** |  |
| Altria Group, Inc. | 20298 | 1230262 |
| Bunge Global SA | 14769 | 1154197 |
|  |  | 2384459 |
| **Banks - 4.9%** | **Banks - 4.9%** |  |
| Popular, Inc. | 8015 | 829793 |
| U.S. Bancorp <sup>(a)</sup> | 15812 | 689245 |
|  |  | 1519038 |
| **Commercial Services - 3.2%** | **Commercial Services - 3.2%** |  |
| S&P Global, Inc. | 1925 | 987255 |
| **Diversified Financial Services - 10.8%** | **Diversified Financial Services - 10.8%** |  |
| Intercontinental Exchange, Inc. | 7044 | 1266511 |
| SLM Corp. | 21596 | 699062 |
| Visa, Inc. - Class A | 3883 | 1418033 |
|  |  | 3383606 |
| **Electric - 2.2%** | **Electric - 2.2%** |  |
| WEC Energy Group, Inc. | 6560 | 704806 |
| **Entertainment - 4.9%** | **Entertainment - 4.9%** |  |
| Vail Resorts, Inc. <sup>(a)</sup> | 9505 | 1522416 |
| **Food - 4.8%** | **Food - 4.8%** |  |
| Lamb Weston Holdings, Inc. | 27087 | 1510913 |
| **Healthcare - Products - 6.4%** | **Healthcare - Products - 6.4%** |  |
| Thermo Fisher Scientific, Inc. | 2276 | 916818 |
| Zimmer Biomet Holdings, Inc. | 11761 | 1084012 |
|  |  | 2000830 |
| **Insurance - 4.3%** | **Insurance - 4.3%** |  |
| Old Republic International Corp. | 35441 | 1339670 |
| **Internet - 11.1%** | **Internet - 11.1%** |  |
| Booking Holdings, Inc. | 231 | 1274873 |
| eBay, Inc. | 14758 | 1079843 |
| Uber Technologies, Inc. <sup>(b)</sup> | 13488 | 1135150 |
|  |  | 3489866 |
| **Machinery-Diversified - 2.3%** | **Machinery-Diversified - 2.3%** |  |
| Xylem, Inc. | 5661 | 713512 |
| **Media - 2.6%** | **Media - 2.6%** |  |
| Comcast Corp. - Class A | 23210 | 802370 |
| **Mining - 9.3%** | **Mining - 9.3%** |  |
| Alamos Gold, Inc. - Class A | 36459 | 943924 |
| Newmont Corp. | 37288 | 1965823 |
|  |  | 2909747 |
| **Miscellaneous Manufacturers - 3.9%** | **Miscellaneous Manufacturers - 3.9%** |  |
| 3M Co. <sup>(a)</sup> | 8247 | 1223442 |
| **Oil & Gas - 8.7%** | **Oil & Gas - 8.7%** |  |
| Exxon Mobil Corp. | 13198 | 1350156 |
| Phillips 66 | 12038 | 1366072 |
|  |  | 2716228 |
| **Pharmaceuticals - 7.4%** | **Pharmaceuticals - 7.4%** |  |
| CVS Health Corp. | 17354 | 1111350 |
| Viatris, Inc. | 138465 | 1217108 |
|  |  | 2328458 |
| **Software - 7.1%** | **Software - 7.1%** |  |
| Fidelity National Information Services, Inc. | 15316 | 1219307 |
| MSCI, Inc. | 1785 | 1006775 |
|  |  | 2226082 |
| **Telecommunications - 3.1%** | **Telecommunications - 3.1%** |  |
| AT&T, Inc. | 35057 | 974585 |
| **Water - 4.2%** | **Water - 4.2%** |  |
| American Water Works Co., Inc. <sup>(a)</sup> | 9279 | 1326619 |
| **TOTAL COMMON STOCKS** (Cost $33,126,066) | **TOTAL COMMON STOCKS** (Cost $33,126,066) | 35186644 |
| **REAL ESTATE INVESTMENT TRUSTS - PREFERRED - 9.4%** |  |  |
|  AGNC Investment Corp., Series F, 9.21% (3 mo. Term SOFR + 4.96%), Perpetual <sup>(b)</sup> | 59271 | 1463994 |
|  EPR Properties, Series C, 5.75%, Perpetual <sup>(b)</sup> | 60570 | 1483359 |
| **TOTAL REAL ESTATE INVESTMENT TRUSTS - PREFERRED** (Cost $2,872,982) | **TOTAL REAL ESTATE INVESTMENT TRUSTS - PREFERRED** (Cost $2,872,982) | 2947353 |
| **SHORT-TERM INVESTMENTS - 8.5%** | **<u>Units</u>** |  |
| **Investments Purchased with Proceeds from Securities Lending - 5.2%** |  |  |
| Mount Vernon Liquid Assets Portfolio, LLC, 4.44% <sup>(c)</sup> | 1609645 | 1609645 |
| **Money Market Funds - 3.3%** | **<u>Shares</u>** |  |
| First American Government Obligations Fund - Class X, 4.23% <sup>(c)</sup> | 1038546 | 1038546 |
| **TOTAL SHORT-TERM INVESTMENTS** (Cost $2,648,191) | **TOTAL SHORT-TERM INVESTMENTS** (Cost $2,648,191) | 2648191 |
| **TOTAL INVESTMENTS - 130.3% (**Cost $38,647,239**)** | **TOTAL INVESTMENTS - 130.3% (**Cost $38,647,239**)** | 40782188 |
| Liabilities in Excess of Other Assets - (30.3)% | Liabilities in Excess of Other Assets - (30.3)% | (9477782) |
| **TOTAL NET ASSETS - 100.0%** |  | $31304406 |
| two | two | –% |
| Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. | –% |

---

SOFR - Secured Overnight Financing Rate<br>

(a) All or a portion of this security is on loan as of May 31, 2025. The fair value of these securities was $1,561,945 which represented 5.0% of net assets.

(b) Non-income producing security.

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

------

---

| | | |
|:---|:---|:---|
| **Leatherback Long/Short Alternative Yield ETF** | **Leatherback Long/Short Alternative Yield ETF** | **Leatherback Long/Short Alternative Yield ETF** |
| **Schedule of Securities Sold Short** | **Schedule of Securities Sold Short** | **Schedule of Securities Sold Short** |
| **May 31, 2025 (Unaudited)** | **May 31, 2025 (Unaudited)** | **May 31, 2025 (Unaudited)** |
| **COMMON STOCKS** - **(28.8)%** | **Shares** | **Value** |
| **Auto Manufacturers - (1.7)%** | **Auto Manufacturers - (1.7)%** | |
| Tesla, Inc. | (1506) | $(521769) |
| **Commercial Services - (2.6)%** | **Commercial Services - (2.6)%** |  |
| Affirm Holdings, Inc. - Class A | (9240) | (479556) |
| Booz Allen Hamilton Holding Corp. | (3260) | (346375) |
|  |  | (825931) |
| **Computers - (1.4)%** | **Computers - (1.4)%** |  |
| Apple, Inc. | (2212) | (444280) |
| **Diversified Financial Services - (1.5)%** | **Diversified Financial Services - (1.5)%** |  |
| Stifel Financial Corp. | (5033) | (474209) |
| **Electric - (1.2)%** | **Electric - (1.2)%** |  |
| Vistra Corp. | (2455) | (394199) |
| **Entertainment - (1.4)%** | **Entertainment - (1.4)%** |  |
| DraftKings, Inc. - Class A | (12089) | (433753) |
| **Home Furnishings - (1.2)%** | **Home Furnishings - (1.2)%** |  |
| SharkNinja, Inc. | (3959) | (363951) |
| **Internet - (3.2)%** | **Internet - (3.2)%** |  |
| DoorDash, Inc. - Class A | (2331) | (486363) |
| Robinhood Markets, Inc. - Class A | (7866) | (520336) |
|  |  | (1006699) |
| **Leisure Time - (1.2)%** | **Leisure Time - (1.2)%** |  |
| Life Time Group Holdings, Inc. | (13411) | (383555) |
| **Private Equity - (1.5)%** | **Private Equity - (1.5)%** |  |
| Blackstone, Inc. | (3359) | (466095) |
| **Retail - (5.8)%** | **Retail - (5.8)%** |  |
| Carvana Co. - Class A | (1699) | (555845) |
| Dutch Bros, Inc. - Class A | (4886) | (352769) |
| Ollie's Bargain Outlet Holdings, Inc. | (4270) | (475892) |
| Williams-Sonoma, Inc. | (2598) | (420252) |
|  |  | (1804758) |
| **Semiconductors - (1.3)%** | **Semiconductors - (1.3)%** |  |
| Broadcom, Inc. | (1650) | (399416) |
| **Software - (3.3)%** | **Software - (3.3)%** |  |
| AppLovin Corp. - Class A | (1346) | (528978) |
| Duolingo, Inc. - Class A | (954) | (495708) |
|  |  | (1024686) |
| **Telecommunications - (1.5)%** | **Telecommunications - (1.5)%** |  |
| Credo Technology Group Holding Ltd. | (7802) | (475610) |
| **TOTAL COMMON STOCKS** (Proceeds $7,913,682) | **TOTAL COMMON STOCKS** (Proceeds $7,913,682) | (9018911) |
| **REAL ESTATE INVESTMENT TRUSTS - COMMON** - **(3.1)%** |  |  |
| Digital Realty Trust, Inc. | (3012) | (516618) |
| Equinix, Inc. | (513) | (455965) |
| **TOTAL REAL ESTATE INVESTMENT TRUSTS - COMMON** (Proceeds $778,957) | **TOTAL REAL ESTATE INVESTMENT TRUSTS - COMMON** (Proceeds $778,957) | (972583) |
| **TOTAL SECURITIES SOLD SHORT - (31.9)%** (Proceeds $8,692,639) |  | $(9991494) |
| Percentages are stated as a percent of net assets. |  |  |

---

------

#### Summary of Fair Value Disclosure as of May 31, 2025 (Unaudited)
Leatherback Long/Short Alternative Yield 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:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **<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 | $35186644 | $– | $– | $35186644 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Real Estate Investment Trusts - Preferred | 2947353 | – | – | 2947353 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Investments Purchased with Proceeds from Securities Lending<sup>(a)</sup> | – | – | – | 1609645 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Money Market Funds | 1038546 | – | – | 1038546 |
| Total Investments | $39172543 | $– | $– | $40782188 |
| **Liabilities:** |  |  |  |  |
| <u>Investments:</u> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Common Stocks | $(9018911) | $– | $– | $(9018911) |
| &nbsp;&nbsp;&nbsp;&nbsp;Real Estate Investment Trusts - Common | (972583) | – | – | (972583) |
| Total Investments | $(9991494) | $– | $– | $(9991494) |
| Refer to the Schedule of Investments and Schedule of Securities Sold Short for further disaggregation of investment categories. | Refer to the Schedule of Investments and Schedule of Securities Sold Short for further disaggregation of investment categories. | Refer to the Schedule of Investments and Schedule of Securities Sold Short for further disaggregation of investment categories. | Refer to the Schedule of Investments and Schedule of Securities Sold Short for further disaggregation of investment categories. | Refer to the Schedule of Investments and Schedule of Securities Sold Short for further disaggregation of investment categories. |

---

(a) Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair
 value amount of $1,609,645 presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts listed in the Schedule of Investments.

## 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:** 844-986-7700

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

- **a. Name of Series:** Leatherback Long/Short Alternative Yield ETF

- **b. EDGAR series identifier (if any):** S000069694

- **c. LEI of Series:** 5493006GMEXHHEH8EZ63

**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:** $43546602.45

**Total Liabilities:** $12242122.62

**Net Assets:** $31304479.83

**Cash Not Reported:** $2266010.74

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000222268 | 3.37%                | -4.04%               | -0.14%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $126721.50               | $829138.35                                 |
| Month 2  | $-475334.07              | $-938992.96                                |
| Month 3  | $-363890.24              | $219708.00                                 |

**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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Booz Allen Hamilton Holding Co            | Booz Allen Hamilton Holding Corp           | CUSIP: 099502106<br>LEI: 529900JPV47PIUWMA015 | Short            | EC               | CORP              | US        |     -3260 | NS      | $-346375.00   | -1.11%            |  |  |  | No            |                  1 | On Loan: No      |
| Broadcom Inc                              | Broadcom Inc                               | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Short            | EC               | CORP              | US        |     -1650 | NS      | $-399415.50   | -1.28%            |  |  |  | No            |                  1 | On Loan: No      |
| Life Time Group Holdings Inc              | Life Time Group Holdings Inc               | CUSIP: 53190C102<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -13411 | NS      | $-383554.60   | -1.23%            |  |  |  | No            |                  1 | On Loan: No      |
| Mount Vernon Liquid Assets Portfolio, LLC | Mount Vernon Liquid Assets Portfolio, LLC  | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | PF                | US        |   1609644 | NS      | $1609644.50   | 5.14%             |  |  |  | No            |                  1 | On Loan: No      |
| CVS Health Corp                           | CVS Health Corp                            | CUSIP: 126650100<br>LEI: 549300EJG376EN5NQE29 | Long             | EC               | CORP              | US        |     17354 | NS      | $1111350.16   | 3.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Carvana Co                                | Carvana Co                                 | CUSIP: 146869102<br>LEI: 5493003WEAK2PJ5WS063 | Short            | EC               | CORP              | US        |     -1699 | NS      | $-555844.84   | -1.78%            |  |  |  | No            |                  1 | On Loan: No      |
| Comcast Corp                              | Comcast Corp                               | CUSIP: 20030N101<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | EC               | CORP              | US        |     23210 | NS      | $802369.70    | 2.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Digital Realty Trust Inc                  | Digital Realty Trust Inc                   | CUSIP: 253868103<br>LEI: 549300HKCZ31D08NEI41 | Short            | EC               | CORP              | US        |     -3012 | NS      | $-516618.24   | -1.65%            |  |  |  | No            |                  1 | On Loan: No      |
| DoorDash Inc                              | DoorDash Inc                               | CUSIP: 25809K105<br>LEI: 549300NUQ43FGGSK5051 | Short            | EC               | CORP              | US        |     -2331 | NS      | $-486363.15   | -1.55%            |  |  |  | No            |                  1 | On Loan: No      |
| DraftKings Inc                            | DraftKings Inc                             | CUSIP: 26142V105<br>LEI: 2549006G33IUL6IVOD83 | Short            | EC               | CORP              | US        |    -12089 | NS      | $-433753.32   | -1.39%            |  |  |  | No            |                  1 | On Loan: No      |
| Duolingo Inc                              | Duolingo Inc                               | CUSIP: 26603R106<br>LEI: N/A                  | Short            | EC               | CORP              | US        |      -954 | NS      | $-495707.94   | -1.58%            |  |  |  | No            |                  1 | On Loan: No      |
| Dutch Bros Inc                            | Dutch Bros Inc                             | CUSIP: 26701L100<br>LEI: N/A                  | Short            | EC               | CORP              | US        |     -4886 | NS      | $-352769.20   | -1.13%            |  |  |  | No            |                  1 | On Loan: No      |
| EPR PROPERTIES                            | EPR Properties                             | CUSIP: 26884U208<br>LEI: 549300YSSXFHMPOWZ492 | Long             | EP               | CORP              | US        |     60570 | NS      | $1483359.30   | 4.74%             |  |  |  | No            |                  1 | On Loan: No      |
| eBay Inc                                  | eBay Inc                                   | CUSIP: 278642103<br>LEI: OML71K8X303XQONU6T67 | Long             | EC               | CORP              | US        |     14758 | NS      | $1079842.86   | 3.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Equinix Inc                               | Equinix Inc                                | CUSIP: 29444U700<br>LEI: 549300EVUN2BTLJ3GT74 | Short            | EC               | CORP              | US        |      -513 | NS      | $-455964.66   | -1.46%            |  |  |  | No            |                  1 | On Loan: No      |
| Exxon Mobil Corp                          | Exxon Mobil Corp                           | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |     13198 | NS      | $1350155.40   | 4.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity National Information             | Fidelity National Information Services Inc | CUSIP: 31620M106<br>LEI: 6WQI0GK1PRFVBA061U48 | Long             | EC               | CORP              | US        |     15316 | NS      | $1219306.76   | 3.89%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Government Obli            | First American Government Obligations Fund | CUSIP: 31846V336<br>LEI: 549300R5MYM6VZF1RM44 | Long             | STIV             | RF                | US        |   1409239 | NS      | $1409239.35   | 4.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Intercontinental Exchange Inc             | Intercontinental Exchange Inc              | CUSIP: 45866F104<br>LEI: 5493000F4ZO33MV32P92 | Long             | EC               | CORP              | US        |      7044 | NS      | $1266511.20   | 4.05%             |  |  |  | No            |                  1 | On Loan: No      |
| L3Harris Technologies Inc                 | L3Harris Technologies Inc                  | CUSIP: 502431109<br>LEI: 549300UTE50ZMDBG8A20 | Long             | EC               | CORP              | US        |      4595 | NS      | $1122742.30   | 3.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Lamb Weston Holdings Inc                  | Lamb Weston Holdings Inc                   | CUSIP: 513272104<br>LEI: 5493005SMYID1D2OY946 | Long             | EC               | CORP              | US        |     27087 | NS      | $1510912.86   | 4.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Credo Technology Group Holding            | Credo Technology Group Holding Ltd         | CUSIP: N/A<br>LEI: N/A                        | Short            | EC               | CORP              | US        |     -7802 | NS      | $-475609.92   | -1.52%            |  |  |  | No            |                  1 | On Loan: No      |
| Bunge Global SA                           | Bunge Global SA                            | CUSIP: N/A<br>LEI: 254900IVXSV9K0B7PO26       | Long             | EC               | CORP              | US        |     14769 | NS      | $1154197.35   | 3.69%             |  |  |  | No            |                  1 | On Loan: No      |
| AGNC INVESTMENT CORP                      | AGNC Investment Corp                       | CUSIP: 00123Q872<br>LEI: 5TRACI5HRMELWV32OF39 | Long             | EP               | CORP              | US        |     59271 | NS      | $1463993.70   | 4.68%             |  |  |  | No            |                  1 | On Loan: No      |
| AT&T Inc                                  | AT&T Inc                                   | CUSIP: 00206R102<br>LEI: 549300Z40J86GGSTL398 | Long             | EC               | CORP              | US        |     35057 | NS      | $974584.60    | 3.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Affirm Holdings Inc                       | Affirm Holdings Inc                        | CUSIP: 00827B106<br>LEI: N/A                  | Short            | EC               | CORP              | US        |     -9240 | NS      | $-479556.00   | -1.53%            |  |  |  | No            |                  1 | On Loan: No      |
| Alamos Gold Inc                           | Alamos Gold Inc                            | CUSIP: 011532108<br>LEI: 549300TDOX73YGYXE959 | Long             | EC               | CORP              | CA        |     36459 | NS      | $943923.51    | 3.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Altria Group Inc                          | Altria Group Inc                           | CUSIP: 02209S103<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | EC               | CORP              | US        |     20298 | NS      | $1230261.78   | 3.93%             |  |  |  | No            |                  1 | On Loan: No      |
| American Water Works Co Inc               | American Water Works Co Inc                | CUSIP: 030420103<br>LEI: 549300DXHIJQMD5WFW18 | Long             | EC               | CORP              | US        |      9279 | NS      | $1326618.63   | 4.24%             |  |  |  | No            |                  1 | On Loan: —       |
| Apple Inc                                 | Apple Inc                                  | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Short            | EC               | CORP              | US        |     -2212 | NS      | $-444280.20   | -1.42%            |  |  |  | No            |                  1 | On Loan: No      |
| AppLovin Corp                             | AppLovin Corp                              | CUSIP: 03831W108<br>LEI: 549300LLVXMUAOL3SQ07 | Short            | EC               | CORP              | US        |     -1346 | NS      | $-528978.00   | -1.69%            |  |  |  | No            |                  1 | On Loan: No      |
| Blackstone Inc                            | Blackstone Inc                             | CUSIP: 09260D107<br>LEI: 5299004LW4QWGZUB8Y96 | Short            | EC               | CORP              | US        |     -3359 | NS      | $-466094.84   | -1.49%            |  |  |  | No            |                  1 | On Loan: No      |
| Booking Holdings Inc                      | Booking Holdings Inc                       | CUSIP: 09857L108<br>LEI: FXM8FAOHMYDIPD38UZ17 | Long             | EC               | CORP              | US        |       231 | NS      | $1274872.83   | 4.07%             |  |  |  | No            |                  1 | On Loan: No      |
| 3M Co                                     | 3M Co                                      | CUSIP: 88579Y101<br>LEI: LUZQVYP4VS22CLWDAR65 | Long             | EC               | CORP              | US        |      8247 | NS      | $1223442.45   | 3.91%             |  |  |  | No            |                  1 | On Loan: —       |
| MSCI Inc                                  | MSCI Inc                                   | CUSIP: 55354G100<br>LEI: 549300HTIN2PD78UB763 | Long             | EC               | CORP              | US        |      1785 | NS      | $1006775.70   | 3.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Newmont Corp                              | Newmont Corp                               | CUSIP: 651639106<br>LEI: 549300VSP3RIX7FGDZ51 | Long             | EC               | CORP              | US        |     37288 | NS      | $1965823.36   | 6.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Old Republic International Cor            | Old Republic International Corp            | CUSIP: 680223104<br>LEI: 549300IV6O2YY2A1KH37 | Long             | EC               | CORP              | US        |     35441 | NS      | $1339669.80   | 4.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Ollie's Bargain Outlet Holding            | Ollie's Bargain Outlet Holdings Inc        | CUSIP: 681116109<br>LEI: 529900YO5DSQCPEFDZ05 | Short            | EC               | CORP              | US        |     -4270 | NS      | $-475891.50   | -1.52%            |  |  |  | No            |                  1 | On Loan: No      |
| Phillips 66                               | Phillips 66                                | CUSIP: 718546104<br>LEI: 5493005JBO5YSIGK1814 | Long             | EC               | CORP              | US        |     12038 | NS      | $1366072.24   | 4.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Popular Inc                               | Popular Inc                                | CUSIP: 733174700<br>LEI: 5493008CARDZMVQ3LO89 | Long             | EC               | CORP              | PR        |      8015 | NS      | $829792.95    | 2.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Robinhood Markets Inc                     | Robinhood Markets Inc                      | CUSIP: 770700102<br>LEI: 213800FS5AO3YWIE6F63 | Short            | EC               | CORP              | US        |     -7866 | NS      | $-520335.90   | -1.66%            |  |  |  | No            |                  1 | On Loan: No      |
| S&P Global Inc                            | S&P Global Inc                             | CUSIP: 78409V104<br>LEI: Y6X4K52KMJMZE7I7MY94 | Long             | EC               | CORP              | US        |      1925 | NS      | $987255.50    | 3.15%             |  |  |  | No            |                  1 | On Loan: No      |
| SLM Corp                                  | SLM Corp                                   | CUSIP: 78442P106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     21596 | NS      | $699062.52    | 2.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Stifel Financial Corp                     | Stifel Financial Corp                      | CUSIP: 860630102<br>LEI: 549300E5F07FE5GHJX84 | Short            | EC               | CORP              | US        |     -5033 | NS      | $-474209.26   | -1.51%            |  |  |  | No            |                  1 | On Loan: No      |
| Tesla Inc                                 | Tesla Inc                                  | CUSIP: 88160R101<br>LEI: 54930043XZGB27CTOV49 | Short            | EC               | CORP              | US        |     -1506 | NS      | $-521768.76   | -1.67%            |  |  |  | No            |                  1 | On Loan: No      |
| Thermo Fisher Scientific Inc              | Thermo Fisher Scientific Inc               | CUSIP: 883556102<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | EC               | CORP              | US        |      2276 | NS      | $916818.32    | 2.93%             |  |  |  | No            |                  1 | On Loan: No      |
| US Bancorp                                | US Bancorp                                 | CUSIP: 902973304<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | EC               | CORP              | US        |     15812 | NS      | $689245.08    | 2.20%             |  |  |  | No            |                  1 | On Loan: —       |
| Uber Technologies Inc                     | Uber Technologies Inc                      | CUSIP: 90353T100<br>LEI: 549300B2FTG34FILDR98 | Long             | EC               | CORP              | US        |     13488 | NS      | $1135150.08   | 3.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Vail Resorts Inc                          | Vail Resorts Inc                           | CUSIP: 91879Q109<br>LEI: 529900PSZHRNU9HKH870 | Long             | EC               | CORP              | US        |      9505 | NS      | $1522415.85   | 4.86%             |  |  |  | No            |                  1 | On Loan: —       |
| Viatris Inc                               | Viatris Inc                                | CUSIP: 92556V106<br>LEI: 254900ZZTSW7NL773X71 | Long             | EC               | CORP              | US        |    138465 | NS      | $1217107.35   | 3.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Visa Inc                                  | Visa Inc                                   | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |      3883 | NS      | $1418032.77   | 4.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Vistra Corp                               | Vistra Corp                                | CUSIP: 92840M102<br>LEI: 549300KP43CPCUJOOG15 | Short            | EC               | CORP              | US        |     -2455 | NS      | $-394199.35   | -1.26%            |  |  |  | No            |                  1 | On Loan: No      |
| WEC Energy Group Inc                      | WEC Energy Group Inc                       | CUSIP: 92939U106<br>LEI: 549300IGLYTZUK3PVP70 | Long             | EC               | CORP              | US        |      6560 | NS      | $704806.40    | 2.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Williams-Sonoma Inc                       | Williams-Sonoma Inc                        | CUSIP: 969904101<br>LEI: 549300IARG6YWVTZ1I92 | Short            | EC               | CORP              | US        |     -2598 | NS      | $-420252.48   | -1.34%            |  |  |  | No            |                  1 | On Loan: No      |
| Xylem Inc/NY                              | Xylem Inc/NY                               | CUSIP: 98419M100<br>LEI: 549300DF5MV96DRYLQ48 | Long             | EC               | CORP              | US        |      5661 | NS      | $713512.44    | 2.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Zimmer Biomet Holdings Inc                | Zimmer Biomet Holdings Inc                 | CUSIP: 98956P102<br>LEI: 2P2YLDVPES3BXQ1FRB91 | Long             | EC               | CORP              | US        |     11761 | NS      | $1084011.37   | 3.46%             |  |  |  | No            |                  1 | On Loan: No      |
| SharkNinja Inc                            | SharkNinja Inc                             | CUSIP: N/A<br>LEI: N/A                        | Short            | EC               | CORP              | US        |     -3959 | NS      | $-363950.87   | -1.16%            |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-07-28

**Name of Applicant:** Tidal Trust I

**Signature:** /s/ Aaron Perkovich

**Name of Signer:** Aaron Perkovich

**Title:** Treasurer/Principal Financial Officer