# EDGAR Filing Document

**Accession Number:** 0001924868
**File Stem:** 0001145549-25-044360
**Filing Date:** 2025-6
**Character Count:** 33635
**Document Hash:** bcf301c904b4a4f86c0bf45fd330db1d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-25-044360.hdr.sgml**: 20250627

**ACCESSION NUMBER**: 0001145549-25-044360

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250430

**FILED AS OF DATE**: 20250627

**DATE AS OF CHANGE**: 20250627

**PERIOD START**: 20250731

**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:** 251085978

**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

### YieldMax(TM) Target 12(TM) Real Estate Option Income ETF (Series ID: S000088626)

| Class ID   | Class Name                                               | Ticker Symbol   |
|:---|:---|:---|
| C000254951 | YieldMax(TM) Target 12(TM) Real Estate Option Income ETF | RNTY            |

## Nport-Ex

---

| | | | |
|:---|:---|:---|:---|
| **YieldMax Target 12 Real Estate Option Income ETF** | **YieldMax Target 12 Real Estate Option Income ETF** | **YieldMax Target 12 Real Estate Option Income ETF** | **YieldMax Target 12 Real Estate Option Income ETF** |
| **Schedule of Investments** | **Schedule of Investments** | **Schedule of Investments** | **Schedule of Investments** |
| **April 30, 2025 (Unaudited)** | **April 30, 2025 (Unaudited)** | **April 30, 2025 (Unaudited)** | **April 30, 2025 (Unaudited)** |
| **REAL ESTATE INVESTMENT TRUSTS - 86.7%<sup>(a)</sup>** | **REAL ESTATE INVESTMENT TRUSTS - 86.7%<sup>(a)</sup>** | **Shares** | **Value**  |
| American Tower Corp. <sup>(b)</sup> | American Tower Corp. <sup>(b)</sup> | 571 | $128709 |
| AvalonBay Communities, Inc. <sup>(b)</sup> | AvalonBay Communities, Inc. <sup>(b)</sup> | 500 | 104990 |
| Camden Property Trust <sup>(b)</sup> | Camden Property Trust <sup>(b)</sup> | 905 | 102989 |
| Crown Castle, Inc. <sup>(b)</sup> | Crown Castle, Inc. <sup>(b)</sup> | 983 | 103962 |
| Digital Realty Trust, Inc. <sup>(b)</sup> | Digital Realty Trust, Inc. <sup>(b)</sup> | 848 | 136138 |
| Equinix, Inc. <sup>(b)</sup> | Equinix, Inc. <sup>(b)</sup> | 128 | 110176 |
| Equity LifeStyle Properties, Inc. <sup>(b)</sup> | Equity LifeStyle Properties, Inc. <sup>(b)</sup> | 1152 | 74627 |
| Equity Residential <sup>(b)</sup> | Equity Residential <sup>(b)</sup> | 1494 | 104968 |
| Essex Property Trust, Inc. <sup>(b)</sup> | Essex Property Trust, Inc. <sup>(b)</sup> | 366 | 102169 |
| Extra Space Storage, Inc. <sup>(b)</sup> | Extra Space Storage, Inc. <sup>(b)</sup> | 723 | 105934 |
| Independence Realty Trust, Inc. <sup>(b)</sup> | Independence Realty Trust, Inc. <sup>(b)</sup> | 3970 | 77137 |
| Invitation Homes, Inc. <sup>(b)</sup> | Invitation Homes, Inc. <sup>(b)</sup> | 3020 | 103254 |
| Iron Mountain, Inc. <sup>(b)</sup> | Iron Mountain, Inc. <sup>(b)</sup> | 908 | 81420 |
| Mid-America Apartment Communities, Inc. <sup>(b)</sup> | Mid-America Apartment Communities, Inc. <sup>(b)</sup> | 649 | 103613 |
| Prologis, Inc. <sup>(b)</sup> | Prologis, Inc. <sup>(b)</sup> | 1246 | 127341 |
| Public Storage <sup>(b)</sup> | Public Storage <sup>(b)</sup> | 345 | 103648 |
| Realty Income Corp. <sup>(b)</sup> | Realty Income Corp. <sup>(b)</sup> | 1748 | 101139 |
| SBA Communications Corp. <sup>(b)</sup> | SBA Communications Corp. <sup>(b)</sup> | 330 | 80322 |
| Simon Property Group, Inc. <sup>(b)</sup> | Simon Property Group, Inc. <sup>(b)</sup> | 673 | 105917 |
| Sun Communities, Inc. <sup>(b)</sup> | Sun Communities, Inc. <sup>(b)</sup> | 619 | 77022 |
| UDR, Inc. <sup>(b)</sup> | UDR, Inc. <sup>(b)</sup> | 1837 | 76934 |
| Welltower, Inc. <sup>(b)</sup> | Welltower, Inc. <sup>(b)</sup> | 857 | 130770 |
| **TOTAL REAL ESTATE INVESTMENT TRUSTS** (Cost $2,138,557) | **TOTAL REAL ESTATE INVESTMENT TRUSTS** (Cost $2,138,557) | **TOTAL REAL ESTATE INVESTMENT TRUSTS** (Cost $2,138,557) | 2243179 |
| **COMMON STOCKS - 13.9%** | **COMMON STOCKS - 13.9%** |  |  |
| **Oil & Gas - 5.0%** | **Oil & Gas - 5.0%** | **Oil & Gas - 5.0%** |  |
| Texas Pacific Land Corp. <sup>(b)</sup> | Texas Pacific Land Corp. <sup>(b)</sup> | 100 | 128887 |
| **Real Estate - 8.9%** | **Real Estate - 8.9%** | **Real Estate - 8.9%** |  |
| CBRE Group, Inc. - Class A <sup>(b)(c)</sup> | CBRE Group, Inc. - Class A <sup>(b)(c)</sup> | 644 | 78684 |
| Howard Hughes Holdings, Inc. <sup>(b)(c)</sup> | Howard Hughes Holdings, Inc. <sup>(b)(c)</sup> | 1150 | 76509 |
| St Joe Co. <sup>(b)</sup> | St Joe Co. <sup>(b)</sup> | 1781 | 75372 |
|  |  |  | 230565 |
| **TOTAL COMMON STOCKS** (Cost $351,273) | **TOTAL COMMON STOCKS** (Cost $351,273) | **TOTAL COMMON STOCKS** (Cost $351,273) | 359452 |
| **PURCHASED OPTIONS - 0.0%<sup>(c)(d)(e)(f)</sup>** | **Notional Amount** | **Contracts** |  |
| **Call Options - 0.0%** | **Call Options - 0.0%** |  | $**–** |
|  Real Estate Select Sector SPDR Fund, Expiration: 05/16/2025; Exercise Price: $43.00 | $161070 | 39 | 877 |
| **TOTAL PURCHASED OPTIONS** (Cost $800) | **TOTAL PURCHASED OPTIONS** (Cost $800) | **TOTAL PURCHASED OPTIONS** (Cost $800) | 877 |
| **SHORT-TERM INVESTMENTS - 0.4%** | **SHORT-TERM INVESTMENTS - 0.4%** | **Shares** |  |
| **Money Market Funds - 0.4%** | **Money Market Funds - 0.4%** |  |  |
| First American Government Obligations Fund - Class X, 4.25% <sup>(g)</sup> | First American Government Obligations Fund - Class X, 4.25% <sup>(g)</sup> | 10171 | 10171 |
| **TOTAL SHORT-TERM INVESTMENTS** (Cost $10,171) | **TOTAL SHORT-TERM INVESTMENTS** (Cost $10,171) | **TOTAL SHORT-TERM INVESTMENTS** (Cost $10,171) | 10171 |
| **TOTAL INVESTMENTS - 101.0% (**Cost $2,500,801**)** | **TOTAL INVESTMENTS - 101.0% (**Cost $2,500,801**)** | **TOTAL INVESTMENTS - 101.0% (**Cost $2,500,801**)** | 2613679 |
| Liabilities in Excess of Other Assets - (1.0)% | Liabilities in Excess of Other Assets - (1.0)% | Liabilities in Excess of Other Assets - (1.0)% | (26297) |
| **TOTAL NET ASSETS - 100.0%** |  |  | $2587382 |
| two | two | two | –% |
| Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. | –% |

---

(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) Held in connection with written option contracts. See Schedule of Written Options for further information.

(c) Non-income producing security.

(d) Represents less than 0.05% of net assets.

(e) Exchange-traded.

(f) 100 shares per contract.

(g) The rate shown represents the 7-day annualized effective yield as of April 30, 2025.

---

| | | | |
|:---|:---|:---|:---|
| **YieldMax Target 12 Real Estate Option Income ETF** | **YieldMax Target 12 Real Estate Option Income ETF** | **YieldMax Target 12 Real Estate Option Income ETF** | **YieldMax Target 12 Real Estate Option Income ETF** |
| **Schedule of Written Options** | **Schedule of Written Options** | **Schedule of Written Options** | **Schedule of Written Options** |
| **April 30, 2025 (Unaudited)** | **April 30, 2025 (Unaudited)** | **April 30, 2025 (Unaudited)** | **April 30, 2025 (Unaudited)** |
| **WRITTEN OPTIONS - (2.2)%<sup>(a)(b)</sup>** | **Notional Amount** | **Contracts** | **Value** |
| **Call Options - (2.2)%** | **Call Options - (2.2)%** | **Call Options - (2.2)%** | **Call Options - (2.2)%** |
| American Tower Corp., Expiration: 05/16/2025; Exercise Price: $230.00 | $(112705) | (5) | $(1262) |
| AvalonBay Communities, Inc., Expiration: 05/16/2025; Exercise Price: $210.00 | (104990) | (5) | (2500) |
| Camden Property Trust, Expiration: 05/16/2025; Exercise Price: $115.00 | (102420) | (9) | (1957) |
| CBRE Group, Inc., Expiration: 05/16/2025; Exercise Price: $130.00 | (73308) | (6) | (450) |
| Crown Castle, Inc., Expiration: 05/16/2025; Exercise Price: $110.00 | (95184) | (9) | (1058) |
| Digital Realty Trust, Inc., Expiration: 05/16/2025; Exercise Price: $160.00 | (128432) | (8) | (4120) |
| Equinix, Inc., Expiration: 05/16/2025; Exercise Price: $840.00 | (86075) | (1) | (4000) |
| Equity LifeStyle Properties, Inc., Expiration: 05/16/2025; Exercise Price: $70.00 | (71258) | (11) | (192) |
| Equity Residential, Expiration: 05/16/2025; Exercise Price: $67.50 | (98364) | (14) | (4900) |
| Essex Property Trust, Inc., Expiration: 05/16/2025; Exercise Price: $280.00 | (83745) | (3) | (1665) |
| Extra Space Storage, Inc., Expiration: 05/16/2025; Exercise Price: $150.00 | (102564) | (7) | (1383) |
| Howard Hughes Holdings, Inc., Expiration: 05/16/2025; Exercise Price: $70.00 | (73183) | (11) | (1788) |
| Independence Realty Trust, Inc., Expiration: 05/16/2025; Exercise Price: $20.00 | (75777) | (39) | (1560) |
| Invitation Homes, Inc., Expiration: 05/16/2025; Exercise Price: $35.00 | (102570) | (30) | (1350) |
| Iron Mountain, Inc., Expiration: 05/16/2025; Exercise Price: $90.00 | (80703) | (9) | (2700) |
| Mid-America Apartment Communities, Inc., Expiration: 05/16/2025; Exercise Price: $160.00 | (95790) | (6) | (2070) |
| Prologis, Inc., Expiration: 05/16/2025; Exercise Price: $105.00 | (122640) | (12) | (1590) |
| Public Storage, Expiration: 05/16/2025; Exercise Price: $310.00 | (90129) | (3) | (1095) |
| Real Estate Select Sector SPDR Fund, Expiration: 05/16/2025; Exercise Price: $41.00 | (161070) | (39) | (10432) |
| Realty Income Corp., Expiration: 05/16/2025; Exercise Price: $60.00 | (98362) | (17) | (383) |
| SBA Communications Corp., Expiration: 05/16/2025; Exercise Price: $240.00 | (73020) | (3) | (2220) |
| Simon Property Group, Inc., Expiration: 05/16/2025; Exercise Price: $155.00 | (94428) | (6) | (3750) |
| St Joe Co., Expiration: 05/16/2025; Exercise Price: $45.00 | (71944) | (17) | (255) |
| Sun Communities, Inc., Expiration: 05/16/2025; Exercise Price: $125.00 | (74658) | (6) | (2115) |
| Texas Pacific Land Corp., Expiration: 05/16/2025; Exercise Price: $1,500.00 | (128887) | (1) | (648) |
| UDR, Inc., Expiration: 05/16/2025; Exercise Price: $42.50 | (75384) | (18) | (1170) |
| Welltower, Inc., Expiration: 05/16/2025; Exercise Price: $155.00 | (122072) | (8) | (1460) |
| **TOTAL WRITTEN OPTIONS** (Premiums received $33,256) |  |  | $(58073) |
| Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. |

---

(a) Exchange-traded.

(b) 100 shares per contract.

------

#### Summary of Fair Value Disclosure as of April 30, 2025 (Unaudited)
YieldMax Target 12 Real Estate Option Income 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 April 30, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **<u>Level 1</u>** | **<u>Level 2</u>** | **<u>Level 3</u>** | **<u>Total</u>** |
| **Assets:** | | | | |
| <u>Investments:</u> |  |  |  |  |
|  &nbsp;&nbsp;&nbsp;&nbsp;Real Estate Investment Trusts | $2243179 | $– | $– | $2243179 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Common Stocks | 359452 | – | – | 359452 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Purchased Options | – | 877 | – | 877 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Money Market Funds | 10171 | – | – | 10171 |
| Total Investments | $2612802 | $877 | $– | $2613679 |
| **Liabilities:** |  |  |  |  |
| <u>Investments:</u> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Written Options | $– | $(58073) | $– | $(58073) |
| Total Investments | $– | $(58073) | $– | $(58073) |
| 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:** YieldMax Target 12 Real Estate Option Income ETF

- **b. EDGAR series identifier (if any):** S000088626

- **c. LEI of Series:** 254900ALEMNLAGRNKK41

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

- **a. Date of fiscal year-end:** 2025-07-31

- **b. Date as of which information is reported:** 2025-04-30

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $2646146.31

**Total Liabilities:** $58763.83

**Net Assets:** $2587382.48

**Cash Not Reported:** $32455.12

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000254951 |  |  | 3.50%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  |  |  |
| Month 2  |  |  |
| Month 3  | $0.00                    | $112801.84                                 |

**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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Welltower Inc                  | Welltower Inc                              | CUSIP: 95040Q104<br>LEI: 254900F33BIAR82QTA19 | Long             | EC               | CORP              | US        |       857 | NS      | $130769.63    | 5.05%             |  |  |  | No            |                  1 | On Loan: No      |
| UDR Inc                        | UDR Inc                                    | CUSIP: 902653104<br>LEI: P3CH2EG5X6Z1XWU1OO74 | Long             | EC               | CORP              | US        |      1837 | NS      | $76933.56     | 2.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Texas Pacific Land Corp        | Texas Pacific Land Corp                    | CUSIP: 88262P102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       100 | NS      | $128887.00    | 4.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Sun Communities Inc            | Sun Communities Inc                        | CUSIP: 866674104<br>LEI: 549300H5GEOJYN41ZG57 | Long             | EC               | CORP              | US        |       619 | NS      | $77022.17     | 2.98%             |  |  |  | No            |                  1 | On Loan: No      |
| St Joe Co/The                  | St Joe Co/The                              | CUSIP: 790148100<br>LEI: 529900XVHOT3BF8PWG49 | Long             | EC               | CORP              | US        |      1781 | NS      | $75371.92     | 2.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Simon Property Group Inc       | Simon Property Group Inc                   | CUSIP: 828806109<br>LEI: 529900GQL5X8H7AO3T64 | Long             | EC               | CORP              | US        |       673 | NS      | $105916.74    | 4.09%             |  |  |  | No            |                  1 | On Loan: No      |
| SBA Communications Corp        | SBA Communications Corp                    | CUSIP: 78410G104<br>LEI: 5299001HX8ZN8Y8QIT49 | Long             | EC               | CORP              | US        |       330 | NS      | $80322.00     | 3.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Realty Income Corp             | Realty Income Corp                         | CUSIP: 756109104<br>LEI: 549300CUWDAUZSH43859 | Long             | EC               | CORP              | US        |      1748 | NS      | $101139.28    | 3.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Public Storage                 | Public Storage                             | CUSIP: 74460D109<br>LEI: 254900GLQZAD4N7N5Q19 | Long             | EC               | CORP              | US        |       345 | NS      | $103648.35    | 4.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Prologis Inc                   | Prologis Inc                               | CUSIP: 74340W103<br>LEI: 529900DFH19P073LZ636 | Long             | EC               | CORP              | US        |      1246 | NS      | $127341.20    | 4.92%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                            | XLRE US 05/16/25 C43                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |        39 | NC      | $877.50       | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | XLRE US 05/16/25 C41                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       -39 | NC      | $-10432.50    | -0.40%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | WELL US 05/16/25 C155                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |        -8 | NC      | $-1460.00     | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | UDR US 05/16/25 C42.5                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       -18 | NC      | $-1170.00     | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | TPL US 05/16/25 C1500                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |        -1 | NC      | $-647.50      | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | SUI US 05/16/25 C125                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |        -6 | NC      | $-2115.00     | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | SPG US 05/16/25 C155                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |        -6 | NC      | $-3750.00     | -0.14%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | SBAC US 05/16/25 C240                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |        -3 | NC      | $-2220.00     | -0.09%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | PSA US 05/16/25 C310                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |        -3 | NC      | $-1095.00     | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | PLD US 05/16/25 C105                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       -12 | NC      | $-1590.00     | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | O US 05/16/25 C60                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       -17 | NC      | $-382.50      | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | MAA US 05/16/25 C160                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |        -6 | NC      | $-2070.00     | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | JOE US 05/16/25 C45                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       -17 | NC      | $-255.00      | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | IRT US 05/16/25 C20                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       -39 | NC      | $-1560.00     | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | IRM US 05/16/25 C90                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |        -9 | NC      | $-2700.00     | -0.10%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | INVH US 05/16/25 C35                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       -30 | NC      | $-1350.00     | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | HHH US 05/16/25 C70                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       -11 | NC      | $-1787.50     | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | EXR US 05/16/25 C150                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |        -7 | NC      | $-1382.50     | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | ESS US 05/16/25 C280                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |        -3 | NC      | $-1665.00     | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | EQR US 05/16/25 C67.5                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       -14 | NC      | $-4900.00     | -0.19%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | EQIX US 05/16/25 C840                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |        -1 | NC      | $-4000.00     | -0.15%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | ELS US 05/16/25 C70                        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       -11 | NC      | $-192.50      | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | DLR US 05/16/25 C160                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |        -8 | NC      | $-4120.00     | -0.16%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | CPT US 05/16/25 C115                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |        -9 | NC      | $-1957.50     | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | CCI US 05/16/25 C110                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |        -9 | NC      | $-1057.50     | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | CBRE US 05/16/25 C130                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |        -6 | NC      | $-450.00      | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | AVB US 05/16/25 C210                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |        -5 | NC      | $-2500.00     | -0.10%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                            | AMT US 05/16/25 C230                       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |        -5 | NC      | $-1262.50     | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| Mid-America Apartment Communit | Mid-America Apartment Communities Inc      | CUSIP: 59522J103<br>LEI: 549300FQZKFR5YNSHZ21 | Long             | EC               | CORP              | US        |       649 | NS      | $103612.85    | 4.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Iron Mountain Inc              | Iron Mountain Inc                          | CUSIP: 46284V101<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | EC               | CORP              | US        |       908 | NS      | $81420.36     | 3.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Invitation Homes Inc           | Invitation Homes Inc                       | CUSIP: 46187W107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3020 | NS      | $103253.80    | 3.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Independence Realty Trust Inc  | Independence Realty Trust Inc              | CUSIP: 45378A106<br>LEI: 549300Z3L8NU44NQEB29 | Long             | EC               | CORP              | US        |      3970 | NS      | $77137.10     | 2.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Howard Hughes Holdings Inc     | Howard Hughes Holdings Inc                 | CUSIP: 44267T102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1150 | NS      | $76509.50     | 2.96%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Government Obli | First American Government Obligations Fund | CUSIP: 31846V336<br>LEI: 549300R5MYM6VZF1RM44 | Long             | STIV             | RF                | US        |     10171 | NS      | $10170.51     | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Extra Space Storage Inc        | Extra Space Storage Inc                    | CUSIP: 30225T102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       723 | NS      | $105933.96    | 4.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Essex Property Trust Inc       | Essex Property Trust Inc                   | CUSIP: 297178105<br>LEI: 549300TR2H2VEFX0NC60 | Long             | EC               | CORP              | US        |       366 | NS      | $102168.90    | 3.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Equity Residential             | Equity Residential                         | CUSIP: 29476L107<br>LEI: 5493008RACSH5EP3PI59 | Long             | EC               | CORP              | US        |      1494 | NS      | $104968.44    | 4.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Equity LifeStyle Properties In | Equity LifeStyle Properties Inc            | CUSIP: 29472R108<br>LEI: 529900PEQG66LENB6798 | Long             | EC               | CORP              | US        |      1152 | NS      | $74626.56     | 2.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Equinix Inc                    | Equinix Inc                                | CUSIP: 29444U700<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | EC               | CORP              | US        |       128 | NS      | $110176.00    | 4.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Digital Realty Trust Inc       | Digital Realty Trust Inc                   | CUSIP: 253868103<br>LEI: 549300HKCZ31D08NEI41 | Long             | EC               | CORP              | US        |       848 | NS      | $136137.92    | 5.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Crown Castle Inc               | Crown Castle Inc                           | CUSIP: 22822V101<br>LEI: 54930012H97VSM0I2R19 | Long             | EC               | CORP              | US        |       983 | NS      | $103962.08    | 4.02%             |  |  |  | No            |                  1 | On Loan: No      |
| CBRE Group Inc                 | CBRE Group Inc                             | CUSIP: 12504L109<br>LEI: 52990016II9MJ2OSWA10 | Long             | EC               | CORP              | US        |       644 | NS      | $78683.92     | 3.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Camden Property Trust          | Camden Property Trust                      | CUSIP: 133131102<br>LEI: 5493002MYX22OHYJBD89 | Long             | EC               | CORP              | US        |       905 | NS      | $102989.00    | 3.98%             |  |  |  | No            |                  1 | On Loan: No      |
| AvalonBay Communities Inc      | AvalonBay Communities Inc                  | CUSIP: 053484101<br>LEI: K9G90K85RBWD2LAGQX17 | Long             | EC               | CORP              | US        |       500 | NS      | $104990.00    | 4.06%             |  |  |  | No            |                  1 | On Loan: No      |
| American Tower Corp            | American Tower Corp                        | CUSIP: 03027X100<br>LEI: 5493006ORUSIL88JOE18 | Long             | EC               | CORP              | US        |       571 | NS      | $128709.11    | 4.97%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-06-27

**Name of Applicant:** Tidal Trust II

**Signature:** /s/ Aaron Perkovich

**Name of Signer:** Aaron Perkovich

**Title:** Treasurer/Principal Financial Officer