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            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>LSEG Data &amp; Analytics</pricingServiceName>
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            <pricingServiceRssdId>N/A</pricingServiceRssdId>
            <pricingServiceCountry>GB</pricingServiceCountry>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>IHS Markit Ltd.</pricingServiceName>
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            <pricingServiceCountry>BM</pricingServiceCountry>
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          <pricingService>
            <pricingServiceName>Standard and Poors Financial Services LLC</pricingServiceName>
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            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>U.S. Bank N.A.</custodianName>
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            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>Tidal ETF Services, LLC</adminName>
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            <adminStateCountry adminState="US-WI" adminCountry="US"/>
            <isAdminAffiliated>Y</isAdminAffiliated>
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          <admin>
            <adminName>U.S. Bancorp Global Fund Services LLC</adminName>
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            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>Y</isAdminSubAdmin>
          </admin>
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        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokers>
          <broker>
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          <broker>
            <brokerName>MERRILL LYNCH PIERCE FENNER &amp; SMITH INCORPORATED</brokerName>
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          <broker>
            <brokerName>PERSHING LLC</brokerName>
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            <grossCommission>1208.930000000000</grossCommission>
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          <broker>
            <brokerName>CITIGROUP GLOBAL MARKETS INC.</brokerName>
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            <grossCommission>940.330000000000</grossCommission>
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          <broker>
            <brokerName>ROBERT W. BAIRD &amp; CO. INCORPORATED</brokerName>
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        <aggregateCommission>10992.460000000000</aggregateCommission>
        <principalAggregatePurchase>0.000000000000</principalAggregatePurchase>
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        <mnthlyAvgNetAssets>10421736.241000000000</mnthlyAvgNetAssets>
        <hasLineOfCredit>N</hasLineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
        <isSwingPricing>N</isSwingPricing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>Academy Veteran Impact ETF</mgmtInvFundName>
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        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="NAV" sharesOutstandingClassId="C000243984" sharesOutstandingTickerSymbol="VETZ"/>
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        <fundTypes>
          <fundType>Exchange-Traded Fund</fundType>
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        <isNonDiversifiedCompany>N</isNonDiversifiedCompany>
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        <didFundLendSecurities>N</didFundLendSecurities>
        <paymentToAgentManagerType>N/A</paymentToAgentManagerType>
        <avgPortfolioSecuritiesValue>N/A</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>N/A</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 6c-11 (17 CFR 270.6c-11)</relyOnRuleType>
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        <isExpenseLimitationInPlace>N</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>N</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>Tidal Investments LLC</investmentAdviserName>
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            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
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        <subAdvisers>
          <subAdviser>
            <subAdviserName>Academy Asset Management, LLC</subAdviserName>
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        <transferAgents>
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            <transferAgentName>U.S. Bancorp Fund Services LLC</transferAgentName>
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            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
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        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>Intercontinental Exchange Inc.</pricingServiceName>
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            <pricingServiceStateCountry pricingServiceState="US-GA" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
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          <pricingService>
            <pricingServiceName>PricingDirect Inc.</pricingServiceName>
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          <pricingService>
            <pricingServiceName>Bloomberg L.P.</pricingServiceName>
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          <pricingService>
            <pricingServiceName>LSEG Data &amp; Analytics</pricingServiceName>
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          <pricingService>
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          <pricingService>
            <pricingServiceName>Standard and Poors Financial Services LLC</pricingServiceName>
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        <custodians>
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        <admins>
          <admin>
            <adminName>Tidal ETF Services, LLC</adminName>
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          <admin>
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        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <aggregateCommission>0.000000000000</aggregateCommission>
        <principalTransactions>
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            <principalName>BREAN CAPITAL LLC</principalName>
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            <principalTotalPurchaseSale>2197004.760000000000</principalTotalPurchaseSale>
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          <principalTransaction>
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            <principalTotalPurchaseSale>1318206.810000000000</principalTotalPurchaseSale>
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          <principalTransaction>
            <principalName>CITIGROUP GLOBAL MARKETS INC.</principalName>
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          <principalTransaction>
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        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
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                <creditUser fundName="Adasina Social Justice All Cap Global ETF" secFileNo="811-23377"/>
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        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
        <isSwingPricing>N</isSwingPricing>
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      <managementInvestmentQuestion>
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        <paymentToAgentManagerType>N/A</paymentToAgentManagerType>
        <avgPortfolioSecuritiesValue>N/A</avgPortfolioSecuritiesValue>
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        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
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        <transferAgents>
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        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
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            <pricingServiceName>Intercontinental Exchange Inc.</pricingServiceName>
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            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>PricingDirect Inc.</pricingServiceName>
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          <pricingService>
            <pricingServiceName>Bloomberg L.P.</pricingServiceName>
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          <pricingService>
            <pricingServiceName>LSEG Data &amp; Analytics</pricingServiceName>
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        <admins>
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            <adminName>Tidal ETF Services, LLC</adminName>
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        <principalTransactions>
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            <principalName>BARCLAYS CAPITAL INC.</principalName>
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          <principalTransaction>
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          <principalTransaction>
            <principalName>CANTOR FITZGERALD &amp; CO.</principalName>
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          <principalTransaction>
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          <principalTransaction>
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        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
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                <creditUser fundName="Adasina Social Justice All Cap Global ETF" secFileNo="811-23377"/>
                <creditUser fundName="SP Funds S&amp;P Global REIT Sharia ETF" secFileNo="811-23377"/>
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                <creditUser fundName="UPAR Ultra Risk Parity ETF" secFileNo="811-23377"/>
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        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
        <isSwingPricing>N</isSwingPricing>
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      <managementInvestmentQuestion>
        <mgmtInvFundName>FolioBeyond Enhanced Fixed Income Premium ETF</mgmtInvFundName>
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        <isFundSecuritiesLending>N</isFundSecuritiesLending>
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        <paymentToAgentManagerType>N/A</paymentToAgentManagerType>
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        <relyOnRuleTypes>
          <relyOnRuleType>Rule 12d1-1 (17 CFR 270.12d1-1)</relyOnRuleType>
          <relyOnRuleType>Rule 6c-11 (17 CFR 270.6c-11)</relyOnRuleType>
          <relyOnRuleType>Rule 18f-4 (17 CFR 270.18f-4)</relyOnRuleType>
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        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
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        <pricingServices>
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            <pricingServiceName>Intercontinental Exchange Inc.</pricingServiceName>
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        <aggregateCommission>15850.400000000000</aggregateCommission>
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        <isSwingPricing>N</isSwingPricing>
      </managementInvestmentQuestion>
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    <exchangeSeriesInfo>
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        <fundName>Aztlan Global Stock Selection DM SMID ETF</fundName>
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