# EDGAR Filing Document

**Accession Number:** 0001924868
**File Stem:** 0000894189-25-009677
**Filing Date:** 2025-9
**Character Count:** 54862
**Document Hash:** d7683fad18e7cb919e08485389aec3d3
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000894189-25-009677.hdr.sgml**: 20250929

**ACCESSION NUMBER**: 0000894189-25-009677

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250731

**FILED AS OF DATE**: 20250929

**DATE AS OF CHANGE**: 20250929

**PERIOD START**: 20251031

**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:** 251353493

**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

### Hilton BDC Corporate Bond ETF (Series ID: S000092997)

| Class ID   | Class Name                    | Ticker Symbol   |
|:---|:---|:---|
| C000261052 | Hilton BDC Corporate Bond ETF |  |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **Hilton BDC Corporate Bond ETF** | **Hilton BDC Corporate Bond ETF** | **Hilton BDC Corporate Bond ETF** |
| **Schedule of Investments** | **Schedule of Investments** | **Schedule of Investments** |
| **July 31, 2025 (Unaudited)** | **July 31, 2025 (Unaudited)** | **July 31, 2025 (Unaudited)** |
| **CORPORATE BONDS - 92.8%** | **Par** | **Value** |
| **Investment Companies - 91.4%<sup>(a)</sup>** | **Investment Companies - 91.4%<sup>(a)</sup>** | **Investment Companies - 91.4%<sup>(a)</sup>** |
| Apollo Debt Solutions BDC | Apollo Debt Solutions BDC | Apollo Debt Solutions BDC |
| &nbsp;&nbsp; 6.90%, 04/13/2029 | $541000 | $565267 |
| &nbsp;&nbsp; 6.70%, 07/29/2031 | 561000 | 584354 |
| &nbsp;&nbsp; 6.55%, 03/15/2032 <sup>(b)</sup> | 282000 | 289383 |
| Ares Capital Corp. | Ares Capital Corp. | Ares Capital Corp. |
| &nbsp;&nbsp; 3.88%, 01/15/2026 | 326000 | 324667 |
| &nbsp;&nbsp; 2.15%, 07/15/2026 | 278000 | 271454 |
| &nbsp;&nbsp; 7.00%, 01/15/2027 | 260000 | 267714 |
| &nbsp;&nbsp; 2.88%, 06/15/2027 | 126000 | 121936 |
| &nbsp;&nbsp; 2.88%, 06/15/2028 | 369000 | 348742 |
| &nbsp;&nbsp; 5.88%, 03/01/2029 | 302000 | 308463 |
| &nbsp;&nbsp; 5.95%, 07/15/2029 | 251000 | 257175 |
| &nbsp;&nbsp; 3.20%, 11/15/2031 | 200000 | 174732 |
| &nbsp;&nbsp; 5.80%, 03/08/2032 | 304000 | 303441 |
| Bain Capital Specialty Finance, Inc. | Bain Capital Specialty Finance, Inc. | Bain Capital Specialty Finance, Inc. |
| &nbsp;&nbsp; 2.95%, 03/10/2026 | 183000 | 180350 |
| &nbsp;&nbsp; 2.55%, 10/13/2026 | 182000 | 176563 |
| &nbsp;&nbsp; 5.95%, 03/15/2030 | 203000 | 201951 |
| Barings BDC, Inc. | Barings BDC, Inc. | Barings BDC, Inc. |
| &nbsp;&nbsp; 3.30%, 11/23/2026 | 201000 | 196078 |
| &nbsp;&nbsp; 7.00%, 02/15/2029 | 194000 | 201301 |
| BlackRock TCP Capital Corp. | BlackRock TCP Capital Corp. | BlackRock TCP Capital Corp. |
| &nbsp;&nbsp; 2.85%, 02/09/2026 | 202000 | 198924 |
| &nbsp;&nbsp; 6.95%, 05/30/2029 | 202000 | 208811 |
| Blackstone Private Credit Fund | Blackstone Private Credit Fund | Blackstone Private Credit Fund |
| &nbsp;&nbsp; 7.05%, 09/29/2025 | 268000 | 268869 |
| &nbsp;&nbsp; 2.63%, 12/15/2026 | 427000 | 412823 |
| &nbsp;&nbsp; 3.25%, 03/15/2027 | 352000 | 342589 |
| &nbsp;&nbsp; 4.95%, 09/26/2027 | 125000 | 124568 |
| &nbsp;&nbsp; 7.30%, 11/27/2028 | 214000 | 227081 |
| &nbsp;&nbsp; 4.00%, 01/15/2029 | 215000 | 207616 |
| &nbsp;&nbsp; 5.95%, 07/16/2029 | 164000 | 167297 |
| &nbsp;&nbsp; 5.60%, 11/22/2029 | 123000 | 123939 |
| &nbsp;&nbsp; 5.25%, 04/01/2030 | 125000 | 123890 |
| &nbsp;&nbsp; 6.25%, 01/25/2031 | 162000 | 167066 |
| &nbsp;&nbsp; 6.00%, 01/29/2032 | 359000 | 363762 |
| &nbsp;&nbsp; 6.00%, 11/22/2034 | 268000 | 266333 |
| Blackstone Secured Lending Fund | Blackstone Secured Lending Fund | Blackstone Secured Lending Fund |
| &nbsp;&nbsp; 3.63%, 01/15/2026 | 385000 | 382532 |
| &nbsp;&nbsp; 2.75%, 09/16/2026 | 338000 | 329773 |
| &nbsp;&nbsp; 2.13%, 02/15/2027 | 291000 | 278452 |
| &nbsp;&nbsp; 5.88%, 11/15/2027 | 168000 | 170994 |
| &nbsp;&nbsp; 5.35%, 04/13/2028 | 343000 | 345816 |
| &nbsp;&nbsp; 2.85%, 09/30/2028 | 299000 | 280271 |
| &nbsp;&nbsp; 5.30%, 06/30/2030 | 217000 | 215965 |
| Blue Owl Capital Corp. | Blue Owl Capital Corp. | Blue Owl Capital Corp. |
| &nbsp;&nbsp; 4.25%, 01/15/2026 | 218000 | 217473 |
| &nbsp;&nbsp; 3.40%, 07/15/2026 | 484000 | 477078 |
| &nbsp;&nbsp; 2.63%, 01/15/2027 | 216000 | 208228 |
| &nbsp;&nbsp; 3.13%, 04/13/2027 | 220000 | 212382 |
| &nbsp;&nbsp; 2.88%, 06/11/2028 | 404000 | 377038 |
| &nbsp;&nbsp; 5.95%, 03/15/2029 | 496000 | 497202 |
| &nbsp;&nbsp; 6.20%, 07/15/2030 | 216000 | 218205 |
|  Blue Owl Capital Corp. II, 8.45%, 11/15/2026 | 274000 | 283750 |
| Blue Owl Credit Income Corp. | Blue Owl Credit Income Corp. | Blue Owl Credit Income Corp. |
| &nbsp;&nbsp; 3.13%, 09/23/2026 | 155000 | 151226 |
| &nbsp;&nbsp; 4.70%, 02/08/2027 | 221000 | 219402 |
| &nbsp;&nbsp; 7.75%, 09/16/2027 | 298000 | 311534 |
| &nbsp;&nbsp; 7.95%, 06/13/2028 | 311000 | 329265 |
| &nbsp;&nbsp; 7.75%, 01/15/2029 | 259000 | 275589 |
| &nbsp;&nbsp; 6.60%, 09/15/2029 | 449000 | 461979 |
| &nbsp;&nbsp; 5.80%, 03/15/2030 | 498000 | 499046 |
| &nbsp;&nbsp; 6.65%, 03/15/2031 | 366000 | 376669 |
| Blue Owl Technology Finance Corp. | Blue Owl Technology Finance Corp. | Blue Owl Technology Finance Corp. |
| &nbsp;&nbsp; 4.75%, 12/15/2025 <sup>(b)</sup> | 299000 | 297910 |
| &nbsp;&nbsp; 3.75%, 06/17/2026 <sup>(b)</sup> | 152000 | 149246 |
| &nbsp;&nbsp; 2.50%, 01/15/2027 | 110000 | 105753 |
| &nbsp;&nbsp; 6.10%, 03/15/2028 <sup>(b)</sup> | 327000 | 328950 |
| &nbsp;&nbsp; 6.75%, 04/04/2029 | 422000 | 432209 |
|  Franklin BSP Capital Corp., 7.20%, 06/15/2029 | 290000 | 301112 |
| FS KKR Capital Corp. | FS KKR Capital Corp. | FS KKR Capital Corp. |
| &nbsp;&nbsp; 3.40%, 01/15/2026 | 487000 | 483472 |
| &nbsp;&nbsp; 2.63%, 01/15/2027 | 167000 | 160508 |
| &nbsp;&nbsp; 3.25%, 07/15/2027 | 218000 | 209451 |
| &nbsp;&nbsp; 3.13%, 10/12/2028 | 359000 | 331024 |
| &nbsp;&nbsp; 7.88%, 01/15/2029 | 169000 | 179042 |
| &nbsp;&nbsp; 6.88%, 08/15/2029 | 292000 | 301411 |
| &nbsp;&nbsp; 6.13%, 01/15/2030 | 337000 | 338139 |
| Goldman Sachs BDC, Inc. | Goldman Sachs BDC, Inc. | Goldman Sachs BDC, Inc. |
| &nbsp;&nbsp; 2.88%, 01/15/2026 | 296000 | 293261 |
| &nbsp;&nbsp; 6.38%, 03/11/2027 | 240000 | 244756 |
| Golub Capital BDC, Inc. | Golub Capital BDC, Inc. | Golub Capital BDC, Inc. |
| &nbsp;&nbsp; 2.50%, 08/24/2026 | 326000 | 317570 |
| &nbsp;&nbsp; 2.05%, 02/15/2027 | 188000 | 179321 |
| &nbsp;&nbsp; 7.05%, 12/05/2028 | 239000 | 250887 |
| &nbsp;&nbsp; 6.00%, 07/15/2029 | 399000 | 405272 |
| Golub Capital Private Credit Fund | Golub Capital Private Credit Fund | Golub Capital Private Credit Fund |
| &nbsp;&nbsp; 5.80%, 09/12/2029 | 294000 | 294858 |
| &nbsp;&nbsp; 5.88%, 05/01/2030 | 299000 | 300229 |
| HPS Corporate Lending Fund | HPS Corporate Lending Fund | HPS Corporate Lending Fund |
| &nbsp;&nbsp; 5.45%, 01/14/2028 | 398000 | 399085 |
| &nbsp;&nbsp; 6.75%, 01/30/2029 | 299000 | 309698 |
| &nbsp;&nbsp; 6.25%, 09/30/2029 | 206000 | 210661 |
| &nbsp;&nbsp; 5.95%, 04/14/2032 | 275000 | 272954 |
| Main Street Capital Corp. | Main Street Capital Corp. | Main Street Capital Corp. |
| &nbsp;&nbsp; 3.00%, 07/14/2026 | 285000 | 279701 |
| &nbsp;&nbsp; 6.50%, 06/04/2027 | 230000 | 234730 |
| &nbsp;&nbsp; 6.95%, 03/01/2029 | 197000 | 204886 |
| Morgan Stanley Direct Lending Fund | Morgan Stanley Direct Lending Fund | Morgan Stanley Direct Lending Fund |
| &nbsp;&nbsp; 4.50%, 02/11/2027 | 206000 | 204557 |
| &nbsp;&nbsp; 6.15%, 05/17/2029 | 198000 | 202847 |
| &nbsp;&nbsp; 6.00%, 05/19/2030 | 199000 | 200250 |
|  MSD Investment Corp., 6.25%, 05/31/2030 <sup>(b)</sup> | 343000 | 343041 |
| New Mountain Finance Corp. | New Mountain Finance Corp. | New Mountain Finance Corp. |
| &nbsp;&nbsp; 6.20%, 10/15/2027 | 194000 | 196399 |
| &nbsp;&nbsp; 6.88%, 02/01/2029 | 196000 | 200775 |
|  North Haven Private Income Fund LLC, 5.75%, 02/01/2030 | 245000 | 242583 |
|  Nuveen Churchill Direct Lending Corp., 6.65%, 03/15/2030 | 244000 | 250809 |
| Oaktree Specialty Lending Corp. | Oaktree Specialty Lending Corp. | Oaktree Specialty Lending Corp. |
| &nbsp;&nbsp; 2.70%, 01/15/2027 | 202000 | 194353 |
| &nbsp;&nbsp; 7.10%, 02/15/2029 | 185000 | 190526 |
| &nbsp;&nbsp; 6.34%, 02/27/2030 | 184000 | 183585 |
| Oaktree Strategic Credit Fund | Oaktree Strategic Credit Fund | Oaktree Strategic Credit Fund |
| &nbsp;&nbsp; 8.40%, 11/14/2028 | 207000 | 223030 |
| &nbsp;&nbsp; 6.50%, 07/23/2029 | 246000 | 252246 |
| Prospect Capital Corp. | Prospect Capital Corp. | Prospect Capital Corp. |
| &nbsp;&nbsp; 3.36%, 11/15/2026 | 197000 | 189051 |
| &nbsp;&nbsp; 3.44%, 10/15/2028 | 198000 | 178977 |
| Sixth Street Lending Partners | Sixth Street Lending Partners | Sixth Street Lending Partners |
| &nbsp;&nbsp; 6.50%, 03/11/2029 | 424000 | 437035 |
| &nbsp;&nbsp; 5.75%, 01/15/2030 | 330000 | 330417 |
| &nbsp;&nbsp; 6.13%, 07/15/2030 <sup>(b)</sup> | 399000 | 406897 |
|  |  | 27340482 |
| **Private Equity - 1.4%** | **Private Equity - 1.4%** | **Private Equity - 1.4%** |
| Hercules Capital, Inc. | Hercules Capital, Inc. | Hercules Capital, Inc. |
| &nbsp;&nbsp; 2.63%, 09/16/2026 | 202000 | 196055 |
| &nbsp;&nbsp; 3.38%, 01/20/2027 | 230000 | 223615 |
|  |  | 419670 |
| **TOTAL CORPORATE BONDS** (Cost $27,700,841) | **TOTAL CORPORATE BONDS** (Cost $27,700,841) | 27760152 |
| **SHORT-TERM INVESTMENTS** | **SHORT-TERM INVESTMENTS** | **SHORT-TERM INVESTMENTS** |
| **MONEY MARKET FUNDS - 6.1%** | **Shares** |  |
| First American Government Obligations Fund - Class X, 4.23%<sup>(c)</sup> | 1817694 | 1817694 |
| **TOTAL MONEY MARKET FUNDS** (Cost $1,817,694) | **TOTAL MONEY MARKET FUNDS** (Cost $1,817,694) | 1817694 |
| **TOTAL INVESTMENTS - 98.9% (**Cost $29,518,535**)** | **TOTAL INVESTMENTS - 98.9% (**Cost $29,518,535**)** | 29577846 |
| Other Assets in Excess of Liabilities - 1.1% | Other Assets in Excess of Liabilities - 1.1% | 343849 |
| **TOTAL NET ASSETS - 100.0%** |  | $29921695 |
| two | two | –% |
| Par amount is in USD unless otherwise indicated | Par amount is in USD unless otherwise indicated |  |
| Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. | –% |

---

LLC - Limited Liability Company<br>

(a) To the extent that the Fund invests more heavily in a particular industry or sector of the economy, its performance will be especially sensitive to developments that significantly affect those
 industries or sectors.

(b) Security is exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may only be resold in transactions exempt from registration to qualified
 institutional investors. As of July 31, 2025, the value of these securities total $1,815,427 or 6.1% of the Fund's net assets.

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

------

#### <br>

#### Summary of Fair Value Disclosure as of July 31, 2025 (Unaudited)
Hilton BDC Corporate Bond 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 July 31, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **<u>Level 1</u>** | **<u>Level 2</u>** | **<u>Level 3</u>** | **<u>Total</u>** |
| <u>Investments:</u> |  |  |  |  |
|  &nbsp;&nbsp;&nbsp;&nbsp;Corporate Bonds | $– | $27760152 | $– | $27760152 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Money Market Funds | 1817694 | – | – | 1817694 |
| Total Investments | $1817694 | $27760152 | $– | $29577846 |
| 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:** Hilton BDC Corporate Bond ETF

- **b. EDGAR series identifier (if any):** S000092997

- **c. LEI of Series:** 254900DTSOISMFOUM402

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

- **a. Date of fiscal year-end:** 2025-10-31

- **b. Date as of which information is reported:** 2025-07-31

**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:** $39900390.20

**Total Liabilities:** $9978695.54

**Net Assets:** $29921694.66

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 111.421904000000 | **1-Year:** 2275.305825000000 | **5-Year:** 4503.199498000000 | **10-Year:** 419.702622000000 | **30-Year:** 0.000000000000

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

- **3-Month:** 0.000000000000 | **1-Year:** 47.604802000000 | **5-Year:** 27.922959000000 | **10-Year:** 0.000000000000 | **30-Year:** 0.000000000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000261052 |  | -0.27%               | 0.50%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  |  |  |
| Month 2  | $-13888.74               | $38418.58                                  |
| Month 3  | $-2942.56                | $20892.09                                  |

**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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| BLACKSTONE PRIVATE CRE         | Blackstone Private Credit Fund             | CUSIP: 09261HAK3<br>LEI: 549300ORP3TTCNXSYO43 | Long             | DBT              | CORP              | US        |    352000 | PA      | $342589.26    | 1.14%             | 2027-03-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE SECURED LEND        | Blackstone Secured Lending Fund            | CUSIP: 09261XAK8<br>LEI: 549300KM7KWQHVBNH962 | Long             | DBT              | CORP              | US        |    217000 | PA      | $215964.86    | 0.72%             | 2030-06-30      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| FS KKR CAPITAL CORP            | FS KKR Capital Corp                        | CUSIP: 302635AH0<br>LEI: 549300TYRSI1T21B1360 | Long             | DBT              | CORP              | US        |    167000 | PA      | $160507.82    | 0.54%             | 2027-01-15      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| FS KKR CAPITAL CORP            | FS KKR Capital Corp                        | CUSIP: 302635AL1<br>LEI: 549300TYRSI1T21B1360 | Long             | DBT              | CORP              | US        |    218000 | PA      | $209451.15    | 0.70%             | 2027-07-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| BLUE OWL CREDIT INCOME         | Blue Owl Credit Income Corp                | CUSIP: 69120VAM3<br>LEI: 5493003I42XBWPE05N35 | Long             | DBT              | CORP              | US        |    155000 | PA      | $151226.35    | 0.51%             | 2026-09-23      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| BLUE OWL CREDIT INCOME         | Blue Owl Credit Income Corp                | CUSIP: 69120VBB6<br>LEI: 5493003I42XBWPE05N35 | Long             | DBT              | CORP              | US        |    311000 | PA      | $329265.19    | 1.10%             | 2028-06-13      | Fixed         | 7.95%                 | No            |                  2 | On Loan: No      |
| BLUE OWL CAPITAL CORP          | Blue Owl Capital Corp                      | CUSIP: 69121KAD6<br>LEI: 2549000BD79OOCPF2L94 | Long             | DBT              | CORP              | US        |    218000 | PA      | $217472.81    | 0.73%             | 2026-01-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| BLUE OWL CAPITAL CORP          | Blue Owl Capital Corp                      | CUSIP: 69121KAG9<br>LEI: 2549000BD79OOCPF2L94 | Long             | DBT              | CORP              | US        |    404000 | PA      | $377038.44    | 1.26%             | 2028-06-11      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| APOLLO DEBT SOLUTIONS BD       | Apollo Debt Solutions BDC                  | CUSIP: 03770DAD5<br>LEI: 549300UMUGX092P8DW87 | Long             | DBT              | CORP              | US        |    561000 | PA      | $584353.57    | 1.95%             | 2031-07-29      | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| ARES CAPITAL CORP              | Ares Capital Corp                          | CUSIP: 04010LBF9<br>LEI: WEQ82666OJYSI5GUAB47 | Long             | DBT              | CORP              | US        |    302000 | PA      | $308463.48    | 1.03%             | 2029-03-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE PRIVATE CRE         | Blackstone Private Credit Fund             | CUSIP: 09261HBS5<br>LEI: 549300ORP3TTCNXSYO43 | Long             | DBT              | CORP              | US        |    125000 | PA      | $123889.56    | 0.41%             | 2030-04-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE PRIVATE CRE         | Blackstone Private Credit Fund             | CUSIP: 09261HBU0<br>LEI: 549300ORP3TTCNXSYO43 | Long             | DBT              | CORP              | US        |    123000 | PA      | $123938.78    | 0.41%             | 2029-11-22      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY DIRECT          | Morgan Stanley Direct Lending Fund         | CUSIP: 61774AAG8<br>LEI: 549300QEX22T2J8IB029 | Long             | DBT              | CORP              | US        |    199000 | PA      | $200250.12    | 0.67%             | 2030-05-19      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| OAKTREE STRATEGIC CREDIT       | Oaktree Strategic Credit Fund              | CUSIP: 67403AAE9<br>LEI: 2549006RRE0JC7G43241 | Long             | DBT              | CORP              | US        |    246000 | PA      | $252245.65    | 0.84%             | 2029-07-23      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| PROSPECT CAPITAL CORP          | Prospect Capital Corp                      | CUSIP: 74348TAW2<br>LEI: 549300FSD8T39P5Q0O47 | Long             | DBT              | CORP              | US        |    198000 | PA      | $178977.15    | 0.60%             | 2028-10-15      | Fixed         | 3.44%                 | No            |                  2 | On Loan: No      |
| NORTH HAVEN PRIVATE INC        | North Haven Private Income Fund LLC        | CUSIP: 65960NAB6<br>LEI: 2549002BFPESF1EH2765 | Long             | DBT              | CORP              | US        |    245000 | PA      | $242583.20    | 0.81%             | 2030-02-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| SIXTH STREET LENDING PAR       | Sixth Street Lending Partners              | CUSIP: 829932AB8<br>LEI: 549300S9P1HMDERGCR64 | Long             | DBT              | CORP              | US        |    424000 | PA      | $437035.07    | 1.46%             | 2029-03-11      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ARES CAPITAL CORP              | Ares Capital Corp                          | CUSIP: 04010LBD4<br>LEI: WEQ82666OJYSI5GUAB47 | Long             | DBT              | CORP              | US        |    126000 | PA      | $121936.48    | 0.41%             | 2027-06-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| BLACKROCK TCP CAP CORP         | BlackRock TCP Capital Corp                 | CUSIP: 09259EAC2<br>LEI: 549300JU1XG1HF56J989 | Long             | DBT              | CORP              | US        |    202000 | PA      | $208810.65    | 0.70%             | 2029-05-30      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| BAIN CAPITAL SPECIALTY F       | Bain Capital Specialty Finance Inc         | CUSIP: 05684BAC1<br>LEI: 549300V2JL72R0EYBK64 | Long             | DBT              | CORP              | US        |    182000 | PA      | $176563.04    | 0.59%             | 2026-10-13      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE PRIVATE CRE         | Blackstone Private Credit Fund             | CUSIP: 09261HBC0<br>LEI: 549300ORP3TTCNXSYO43 | Long             | DBT              | CORP              | US        |    214000 | PA      | $227080.91    | 0.76%             | 2028-11-27      | Fixed         | 7.30%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE SECURED LEND        | Blackstone Secured Lending Fund            | CUSIP: 09261XAH5<br>LEI: 549300KM7KWQHVBNH962 | Long             | DBT              | CORP              | US        |    168000 | PA      | $170993.69    | 0.57%             | 2027-11-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE SECURED LEND        | Blackstone Secured Lending Fund            | CUSIP: 09261XAJ1<br>LEI: 549300KM7KWQHVBNH962 | Long             | DBT              | CORP              | US        |    343000 | PA      | $345816.25    | 1.16%             | 2028-04-13      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| FS KKR CAPITAL CORP            | FS KKR Capital Corp                        | CUSIP: 302635AN7<br>LEI: 549300TYRSI1T21B1360 | Long             | DBT              | CORP              | US        |    292000 | PA      | $301411.08    | 1.01%             | 2029-08-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| First American Government Obli | First American Government Obligations Fund | CUSIP: 31846V336<br>LEI: 549300R5MYM6VZF1RM44 | Long             | STIV             | RF                | US        |   1817694 | NS      | $1817694.47   | 6.07%             |  |  |  | No            |                  1 | On Loan: No      |
| GOLDMAN SACHS BDC INC          | Goldman Sachs BDC Inc                      | CUSIP: 38147UAD9<br>LEI: 6D01AGSGBNZIJSN77043 | Long             | DBT              | CORP              | US        |    296000 | PA      | $293261.05    | 0.98%             | 2026-01-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS BDC INC          | Goldman Sachs BDC Inc                      | CUSIP: 38147UAE7<br>LEI: 6D01AGSGBNZIJSN77043 | Long             | DBT              | CORP              | US        |    240000 | PA      | $244756.31    | 0.82%             | 2027-03-11      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| GOLUB CAPITAL BDC              | Golub Capital BDC Inc                      | CUSIP: 38173MAC6<br>LEI: 2549005WE0QLGK9APF78 | Long             | DBT              | CORP              | US        |    188000 | PA      | $179321.46    | 0.60%             | 2027-02-15      | Fixed         | 2.05%                 | No            |                  2 | On Loan: No      |
| GOLUB CAPITAL CAP FND          | Golub Capital Private Credit Fund          | CUSIP: 38179RAB1<br>LEI: 254900B5KBW6OY1F9951 | Long             | DBT              | CORP              | US        |    294000 | PA      | $294857.89    | 0.99%             | 2029-09-12      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| HPS CORPORATE LENDING FU       | HPS Corporate Lending Fund                 | CUSIP: 40440VAF2<br>LEI: 549300ZS7IHUA6FKFV61 | Long             | DBT              | CORP              | US        |    299000 | PA      | $309698.13    | 1.04%             | 2029-01-30      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| HPS CORPORATE LENDING FU       | HPS Corporate Lending Fund                 | CUSIP: 40440VAH8<br>LEI: 549300ZS7IHUA6FKFV61 | Long             | DBT              | CORP              | US        |    398000 | PA      | $399085.03    | 1.33%             | 2028-01-14      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| HERCULES CAPITAL INC           | Hercules Capital Inc                       | CUSIP: 427096AJ1<br>LEI: 549300UJ5OC256GR2B73 | Long             | DBT              | CORP              | US        |    230000 | PA      | $223615.14    | 0.75%             | 2027-01-20      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| MAIN STREET CAPITAL CORP       | Main Street Capital Corp                   | CUSIP: 56035LAH7<br>LEI: 5493001FS9QJLJNF3E20 | Long             | DBT              | CORP              | US        |    197000 | PA      | $204885.95    | 0.68%             | 2029-03-01      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| MAIN STREET CAPITAL CORP       | Main Street Capital Corp                   | CUSIP: 56035LAJ3<br>LEI: 5493001FS9QJLJNF3E20 | Long             | DBT              | CORP              | US        |    230000 | PA      | $234729.58    | 0.78%             | 2027-06-04      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| OAKTREE SPECIALTY LEND         | Oaktree Specialty Lending Corp             | CUSIP: 67401PAC2<br>LEI: 549300J6MGCEU5928620 | Long             | DBT              | CORP              | US        |    202000 | PA      | $194352.50    | 0.65%             | 2027-01-15      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| OAKTREE SPECIALTY LEND         | Oaktree Specialty Lending Corp             | CUSIP: 67401PAD0<br>LEI: 549300J6MGCEU5928620 | Long             | DBT              | CORP              | US        |    185000 | PA      | $190526.46    | 0.64%             | 2029-02-15      | Fixed         | 7.10%                 | No            |                  2 | On Loan: No      |
| OAKTREE SPECIALTY LEND         | Oaktree Specialty Lending Corp             | CUSIP: 67401PAE8<br>LEI: 549300J6MGCEU5928620 | Long             | DBT              | CORP              | US        |    184000 | PA      | $183584.55    | 0.61%             | 2030-02-27      | Fixed         | 6.34%                 | No            |                  2 | On Loan: No      |
| BLUE OWL TECHNOLOGY FINA       | Blue Owl Technology Finance Corp           | CUSIP: 691205AG3<br>LEI: 254900G5EZJSOD3UKL16 | Long             | DBT              | CORP              | US        |    110000 | PA      | $105753.47    | 0.35%             | 2027-01-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| BLUE OWL CREDIT INCOME         | Blue Owl Credit Income Corp                | CUSIP: 69120VAZ4<br>LEI: 5493003I42XBWPE05N35 | Long             | DBT              | CORP              | US        |    366000 | PA      | $376668.76    | 1.26%             | 2031-03-15      | Fixed         | 6.65%                 | No            |                  2 | On Loan: No      |
| BLUE OWL TECHNOLOGY FINA       | Blue Owl Technology Finance Corp           | CUSIP: 69121JAB3<br>LEI: 254900G5EZJSOD3UKL16 | Long             | DBT              | CORP              | US        |    422000 | PA      | $432208.88    | 1.44%             | 2029-04-04      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| GOLUB CAPITAL BDC              | Golub Capital BDC Inc                      | CUSIP: 38173MAB8<br>LEI: 2549005WE0QLGK9APF78 | Long             | DBT              | CORP              | US        |    326000 | PA      | $317569.79    | 1.06%             | 2026-08-24      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| GOLUB CAPITAL CAP FND          | Golub Capital Private Credit Fund          | CUSIP: 38179RAD7<br>LEI: 254900B5KBW6OY1F9951 | Long             | DBT              | CORP              | US        |    299000 | PA      | $300228.63    | 1.00%             | 2030-05-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| NEW MOUNTAIN FINANCE COR       | New Mountain Finance Corp                  | CUSIP: 647551AF7<br>LEI: 549300L1MPTT1H7SES77 | Long             | DBT              | CORP              | US        |    196000 | PA      | $200775.30    | 0.67%             | 2029-02-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| SIXTH STREET LENDING PAR       | Sixth Street Lending Partners              | CUSIP: 829932AD4<br>LEI: 549300S9P1HMDERGCR64 | Long             | DBT              | CORP              | US        |    330000 | PA      | $330417.26    | 1.10%             | 2030-01-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| BARINGS BDC INC                | Barings BDC Inc                            | CUSIP: 06759LAD5<br>LEI: 549300GSF4KFZP6ONG49 | Long             | DBT              | CORP              | US        |    194000 | PA      | $201300.55    | 0.67%             | 2029-02-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE PRIVATE CRE         | Blackstone Private Credit Fund             | CUSIP: 09261HBA4<br>LEI: 549300ORP3TTCNXSYO43 | Long             | DBT              | CORP              | US        |    268000 | PA      | $268869.31    | 0.90%             | 2025-09-29      | Fixed         | 7.05%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE PRIVATE CRE         | Blackstone Private Credit Fund             | CUSIP: 09261HBN6<br>LEI: 549300ORP3TTCNXSYO43 | Long             | DBT              | CORP              | US        |    164000 | PA      | $167297.13    | 0.56%             | 2029-07-16      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE PRIVATE CRE         | Blackstone Private Credit Fund             | CUSIP: 09261HBR7<br>LEI: 549300ORP3TTCNXSYO43 | Long             | DBT              | CORP              | US        |    125000 | PA      | $124568.09    | 0.42%             | 2027-09-26      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE PRIVATE CRE         | Blackstone Private Credit Fund             | CUSIP: 09261HBW6<br>LEI: 549300ORP3TTCNXSYO43 | Long             | DBT              | CORP              | US        |    268000 | PA      | $266332.92    | 0.89%             | 2034-11-22      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE SECURED LEND        | Blackstone Secured Lending Fund            | CUSIP: 09261XAG7<br>LEI: 549300KM7KWQHVBNH962 | Long             | DBT              | CORP              | US        |    299000 | PA      | $280270.62    | 0.94%             | 2028-09-30      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| BLUE OWL CREDIT INCOME         | Blue Owl Credit Income Corp                | CUSIP: 09581CAB7<br>LEI: 5493003I42XBWPE05N35 | Long             | DBT              | CORP              | US        |    449000 | PA      | $461979.18    | 1.54%             | 2029-09-15      | Fixed         | 6.60%                 | No            |                  2 | On Loan: No      |
| FS KKR CAPITAL CORP            | FS KKR Capital Corp                        | CUSIP: 302635AM9<br>LEI: 549300TYRSI1T21B1360 | Long             | DBT              | CORP              | US        |    169000 | PA      | $179042.35    | 0.60%             | 2029-01-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| GOLUB CAPITAL BDC              | Golub Capital BDC Inc                      | CUSIP: 38173MAD4<br>LEI: 2549005WE0QLGK9APF78 | Long             | DBT              | CORP              | US        |    239000 | PA      | $250887.50    | 0.84%             | 2028-12-05      | Fixed         | 7.05%                 | No            |                  2 | On Loan: No      |
| MSD INVESTMENT CORP            | MSD Investment Corp                        | CUSIP: 55354LAA7<br>LEI: 549300K4HV7AOWFSAO65 | Long             | DBT              | CORP              | US        |    343000 | PA      | $343041.10    | 1.15%             | 2030-05-31      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| BAIN CAPITAL SPECIALTY F       | Bain Capital Specialty Finance Inc         | CUSIP: 05684BAB3<br>LEI: 549300V2JL72R0EYBK64 | Long             | DBT              | CORP              | US        |    183000 | PA      | $180349.96    | 0.60%             | 2026-03-10      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| BAIN CAPITAL SPECIALTY F       | Bain Capital Specialty Finance Inc         | CUSIP: 05684BAD9<br>LEI: 549300V2JL72R0EYBK64 | Long             | DBT              | CORP              | US        |    203000 | PA      | $201950.60    | 0.67%             | 2030-03-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| BARINGS BDC INC                | Barings BDC Inc                            | CUSIP: 06759LAC7<br>LEI: 549300GSF4KFZP6ONG49 | Long             | DBT              | CORP              | US        |    201000 | PA      | $196077.61    | 0.66%             | 2026-11-23      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE PRIVATE CRE         | Blackstone Private Credit Fund             | CUSIP: 09261HAD9<br>LEI: 549300ORP3TTCNXSYO43 | Long             | DBT              | CORP              | US        |    427000 | PA      | $412823.07    | 1.38%             | 2026-12-15      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| NEW MOUNTAIN FINANCE COR       | New Mountain Finance Corp                  | CUSIP: 647551AG5<br>LEI: 549300L1MPTT1H7SES77 | Long             | DBT              | CORP              | US        |    194000 | PA      | $196398.70    | 0.66%             | 2027-10-15      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY DIRECT          | Morgan Stanley Direct Lending Fund         | CUSIP: 61774AAF0<br>LEI: 549300QEX22T2J8IB029 | Long             | DBT              | CORP              | US        |    198000 | PA      | $202846.87    | 0.68%             | 2029-05-17      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| NUVEEN CHURCHILL DIRECT        | Nuveen Churchill Direct Lending Corp       | CUSIP: 67090SAA6<br>LEI: 254900X3ULEP6XX7HG39 | Long             | DBT              | CORP              | US        |    244000 | PA      | $250809.21    | 0.84%             | 2030-03-15      | Fixed         | 6.65%                 | No            |                  2 | On Loan: No      |
| OAKTREE STRATEGIC CREDIT       | Oaktree Strategic Credit Fund              | CUSIP: 67403AAB5<br>LEI: 2549006RRE0JC7G43241 | Long             | DBT              | CORP              | US        |    207000 | PA      | $223030.39    | 0.75%             | 2028-11-14      | Fixed         | 8.40%                 | No            |                  2 | On Loan: No      |
| BLUE OWL TECHNOLOGY FINA       | Blue Owl Technology Finance Corp           | CUSIP: 691205AC2<br>LEI: 254900G5EZJSOD3UKL16 | Long             | DBT              | CORP              | US        |    299000 | PA      | $297909.89    | 1.00%             | 2025-12-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| BLUE OWL CREDIT INCOME         | Blue Owl Credit Income Corp                | CUSIP: 69120VAF8<br>LEI: 5493003I42XBWPE05N35 | Long             | DBT              | CORP              | US        |    221000 | PA      | $219401.74    | 0.73%             | 2027-02-08      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| BLUE OWL CAPITAL CORP          | Blue Owl Capital Corp                      | CUSIP: 69121KAH7<br>LEI: 2549000BD79OOCPF2L94 | Long             | DBT              | CORP              | US        |    496000 | PA      | $497201.98    | 1.66%             | 2029-03-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| BLUE OWL CAPITAL CORP          | Blue Owl Capital Corp                      | CUSIP: 69122JAC0<br>LEI: 2549000BD79OOCPF2L94 | Long             | DBT              | CORP              | US        |    220000 | PA      | $212381.97    | 0.71%             | 2027-04-13      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| PROSPECT CAPITAL CORP          | Prospect Capital Corp                      | CUSIP: 74348TAV4<br>LEI: 549300FSD8T39P5Q0O47 | Long             | DBT              | CORP              | US        |    197000 | PA      | $189051.40    | 0.63%             | 2026-11-15      | Fixed         | 3.36%                 | No            |                  2 | On Loan: No      |
| APOLLO DEBT SOLUTIONS BD       | Apollo Debt Solutions BDC                  | CUSIP: 03770DAE3<br>LEI: 549300UMUGX092P8DW87 | Long             | DBT              | CORP              | US        |    282000 | PA      | $289382.92    | 0.97%             | 2032-03-15      | Fixed         | 6.55%                 | No            |                  2 | On Loan: No      |
| ARES CAPITAL CORP              | Ares Capital Corp                          | CUSIP: 04010LAZ6<br>LEI: WEQ82666OJYSI5GUAB47 | Long             | DBT              | CORP              | US        |    326000 | PA      | $324667.24    | 1.09%             | 2026-01-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY DIRECT          | Morgan Stanley Direct Lending Fund         | CUSIP: 61774AAD5<br>LEI: 549300QEX22T2J8IB029 | Long             | DBT              | CORP              | US        |    206000 | PA      | $204556.81    | 0.68%             | 2027-02-11      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| ARES CAPITAL CORP              | Ares Capital Corp                          | CUSIP: 04010LBB8<br>LEI: WEQ82666OJYSI5GUAB47 | Long             | DBT              | CORP              | US        |    369000 | PA      | $348741.54    | 1.17%             | 2028-06-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| ARES CAPITAL CORP              | Ares Capital Corp                          | CUSIP: 04010LBH5<br>LEI: WEQ82666OJYSI5GUAB47 | Long             | DBT              | CORP              | US        |    304000 | PA      | $303441.18    | 1.01%             | 2032-03-08      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| BLUE OWL CREDIT INCOME         | Blue Owl Credit Income Corp                | CUSIP: 09581CAD3<br>LEI: 5493003I42XBWPE05N35 | Long             | DBT              | CORP              | US        |    498000 | PA      | $499045.85    | 1.67%             | 2030-03-15      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| BLUE OWL CAPITAL CORP II       | Blue Owl Capital Corp II                   | CUSIP: 69121DAD2<br>LEI: 549300MMNWZO5XKDDX47 | Long             | DBT              | CORP              | US        |    274000 | PA      | $283750.13    | 0.95%             | 2026-11-15      | Fixed         | 8.45%                 | No            |                  2 | On Loan: No      |
| BLUE OWL CAPITAL CORP          | Blue Owl Capital Corp                      | CUSIP: 69121KAF1<br>LEI: 2549000BD79OOCPF2L94 | Long             | DBT              | CORP              | US        |    216000 | PA      | $208227.64    | 0.70%             | 2027-01-15      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| BLUE OWL TECHNOLOGY FINA       | Blue Owl Technology Finance Corp           | CUSIP: 095924AA4<br>LEI: 254900G5EZJSOD3UKL16 | Long             | DBT              | CORP              | US        |    327000 | PA      | $328950.49    | 1.10%             | 2028-03-15      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| FS KKR CAPITAL CORP            | FS KKR Capital Corp                        | CUSIP: 302635AP2<br>LEI: 549300TYRSI1T21B1360 | Long             | DBT              | CORP              | US        |    337000 | PA      | $338138.73    | 1.13%             | 2030-01-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| FRANKLIN BSP CAPITAL CO        | Franklin BSP Capital Corp                  | CUSIP: 35250VAB0<br>LEI: 549300KJEVMKATLINB36 | Long             | DBT              | CORP              | US        |    290000 | PA      | $301112.03    | 1.01%             | 2029-06-15      | Fixed         | 7.20%                 | No            |                  2 | On Loan: No      |
| GOLUB CAPITAL BDC              | Golub Capital BDC Inc                      | CUSIP: 38173MAE2<br>LEI: 2549005WE0QLGK9APF78 | Long             | DBT              | CORP              | US        |    399000 | PA      | $405272.50    | 1.35%             | 2029-07-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| HPS CORPORATE LENDING FU       | HPS Corporate Lending Fund                 | CUSIP: 40440VAC9<br>LEI: 549300ZS7IHUA6FKFV61 | Long             | DBT              | CORP              | US        |    206000 | PA      | $210661.14    | 0.70%             | 2029-09-30      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| HERCULES CAPITAL INC           | Hercules Capital Inc                       | CUSIP: 427096AH5<br>LEI: 549300UJ5OC256GR2B73 | Long             | DBT              | CORP              | US        |    202000 | PA      | $196055.01    | 0.66%             | 2026-09-16      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| MAIN STREET CAPITAL CORP       | Main Street Capital Corp                   | CUSIP: 56035LAE4<br>LEI: 5493001FS9QJLJNF3E20 | Long             | DBT              | CORP              | US        |    285000 | PA      | $279700.62    | 0.93%             | 2026-07-14      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| BLUE OWL TECHNOLOGY FINA       | Blue Owl Technology Finance Corp           | CUSIP: 691205AE8<br>LEI: 254900G5EZJSOD3UKL16 | Long             | DBT              | CORP              | US        |    152000 | PA      | $149246.21    | 0.50%             | 2026-06-17      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| BLUE OWL CREDIT INCOME         | Blue Owl Credit Income Corp                | CUSIP: 69120VAP6<br>LEI: 5493003I42XBWPE05N35 | Long             | DBT              | CORP              | US        |    298000 | PA      | $311533.95    | 1.04%             | 2027-09-16      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| BLUE OWL CREDIT INCOME         | Blue Owl Credit Income Corp                | CUSIP: 69120VAW1<br>LEI: 5493003I42XBWPE05N35 | Long             | DBT              | CORP              | US        |    259000 | PA      | $275588.77    | 0.92%             | 2029-01-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| SIXTH STREET LENDING PAR       | Sixth Street Lending Partners              | CUSIP: 829932AE2<br>LEI: 549300S9P1HMDERGCR64 | Long             | DBT              | CORP              | US        |    399000 | PA      | $406896.64    | 1.36%             | 2030-07-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| APOLLO DEBT SOLUTIONS BD       | Apollo Debt Solutions BDC                  | CUSIP: 03770DAB9<br>LEI: 549300UMUGX092P8DW87 | Long             | DBT              | CORP              | US        |    541000 | PA      | $565266.60    | 1.89%             | 2029-04-13      | Fixed         | 6.90%                 | No            |                  2 | On Loan: No      |
| ARES CAPITAL CORP              | Ares Capital Corp                          | CUSIP: 04010LBA0<br>LEI: WEQ82666OJYSI5GUAB47 | Long             | DBT              | CORP              | US        |    278000 | PA      | $271453.51    | 0.91%             | 2026-07-15      | Fixed         | 2.15%                 | No            |                  2 | On Loan: No      |
| ARES CAPITAL CORP              | Ares Capital Corp                          | CUSIP: 04010LBC6<br>LEI: WEQ82666OJYSI5GUAB47 | Long             | DBT              | CORP              | US        |    200000 | PA      | $174731.86    | 0.58%             | 2031-11-15      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| ARES CAPITAL CORP              | Ares Capital Corp                          | CUSIP: 04010LBE2<br>LEI: WEQ82666OJYSI5GUAB47 | Long             | DBT              | CORP              | US        |    260000 | PA      | $267713.74    | 0.89%             | 2027-01-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| ARES CAPITAL CORP              | Ares Capital Corp                          | CUSIP: 04010LBG7<br>LEI: WEQ82666OJYSI5GUAB47 | Long             | DBT              | CORP              | US        |    251000 | PA      | $257174.83    | 0.86%             | 2029-07-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| BLACKROCK TCP CAP CORP         | BlackRock TCP Capital Corp                 | CUSIP: 09259EAB4<br>LEI: 549300JU1XG1HF56J989 | Long             | DBT              | CORP              | US        |    202000 | PA      | $198923.62    | 0.66%             | 2026-02-09      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE PRIVATE CRE         | Blackstone Private Credit Fund             | CUSIP: 09261HAR8<br>LEI: 549300ORP3TTCNXSYO43 | Long             | DBT              | CORP              | US        |    215000 | PA      | $207616.43    | 0.69%             | 2029-01-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE PRIVATE CRE         | Blackstone Private Credit Fund             | CUSIP: 09261HBG1<br>LEI: 549300ORP3TTCNXSYO43 | Long             | DBT              | CORP              | US        |    162000 | PA      | $167066.02    | 0.56%             | 2031-01-25      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE PRIVATE CRE         | Blackstone Private Credit Fund             | CUSIP: 09261HBX4<br>LEI: 549300ORP3TTCNXSYO43 | Long             | DBT              | CORP              | US        |    359000 | PA      | $363762.45    | 1.22%             | 2032-01-29      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE SECURED LEND        | Blackstone Secured Lending Fund            | CUSIP: 09261LAC2<br>LEI: 549300KM7KWQHVBNH962 | Long             | DBT              | CORP              | US        |    385000 | PA      | $382532.37    | 1.28%             | 2026-01-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE SECURED LEND        | Blackstone Secured Lending Fund            | CUSIP: 09261XAB8<br>LEI: 549300KM7KWQHVBNH962 | Long             | DBT              | CORP              | US        |    338000 | PA      | $329772.98    | 1.10%             | 2026-09-16      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE SECURED LEND        | Blackstone Secured Lending Fund            | CUSIP: 09261XAD4<br>LEI: 549300KM7KWQHVBNH962 | Long             | DBT              | CORP              | US        |    291000 | PA      | $278451.57    | 0.93%             | 2027-02-15      | Fixed         | 2.12%                 | No            |                  2 | On Loan: No      |
| FS KKR CAPITAL CORP            | FS KKR Capital Corp                        | CUSIP: 302635AG2<br>LEI: 549300TYRSI1T21B1360 | Long             | DBT              | CORP              | US        |    487000 | PA      | $483471.69    | 1.62%             | 2026-01-15      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| FS KKR CAPITAL CORP            | FS KKR Capital Corp                        | CUSIP: 302635AK3<br>LEI: 549300TYRSI1T21B1360 | Long             | DBT              | CORP              | US        |    359000 | PA      | $331024.37    | 1.11%             | 2028-10-12      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| HPS CORPORATE LENDING FU       | HPS Corporate Lending Fund                 | CUSIP: 40440VAK1<br>LEI: 549300ZS7IHUA6FKFV61 | Long             | DBT              | CORP              | US        |    275000 | PA      | $272954.42    | 0.91%             | 2032-04-14      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| BLUE OWL CAPITAL CORP          | Blue Owl Capital Corp                      | CUSIP: 69121KAE4<br>LEI: 2549000BD79OOCPF2L94 | Long             | DBT              | CORP              | US        |    484000 | PA      | $477077.84    | 1.59%             | 2026-07-15      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| BLUE OWL CAPITAL CORP          | Blue Owl Capital Corp                      | CUSIP: 69121KAJ3<br>LEI: 2549000BD79OOCPF2L94 | Long             | DBT              | CORP              | US        |    216000 | PA      | $218205.02    | 0.73%             | 2030-07-15      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-09-29

**Name of Applicant:** Tidal Trust II

**Signature:** /s/ Aaron Perkovich

**Name of Signer:** Aaron Perkovich

**Title:** Treasurer/Principal Financial Officer