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        <name>N/A</name>
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        <fairValLevel>2</fairValLevel>
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            <delta>XXXX</delta>
            <unrealizedAppr>-132418.520000000000</unrealizedAppr>
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        <name>N/A</name>
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        <fairValLevel>2</fairValLevel>
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            <delta>XXXX</delta>
            <unrealizedAppr>12935.700000000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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        <name>N/A</name>
        <lei>N/A</lei>
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        <valUSD>180387.000000000000</valUSD>
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        <assetCat>DE</assetCat>
        <issuerConditional desc="Equity Option" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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            <delta>XXXX</delta>
            <unrealizedAppr>63154.310000000000</unrealizedAppr>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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          <other otherDesc="USER DEFINED" value="594972408-TRS-08/04/26-L"/>
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        <valUSD>93148.910000000000</valUSD>
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        <assetCat>DE</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <swapDeriv derivCat="SWP">
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              <counterpartyName>CLEAR STREET LLC</counterpartyName>
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            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">UNREALIZED GAIN/LOSS AND INCOME/EXPENSE FROM UNDERLYING</otherRecDesc>
            <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="OBFR01 INDEX" floatingRtSpread="17.000000000000" pmntAmt="7485.820000000000">
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                <rtResetTenor rateTenor="Month" rateTenorUnit="1" resetDt="Month" resetDtUnit="1"/>
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            <terminationDt>2026-08-04</terminationDt>
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            <upfrontRcpt>0.000000000000</upfrontRcpt>
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            <unrealizedAppr>93148.910000000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>MicroStrategy Inc</title>
        <cusip>N/A</cusip>
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          <ticker value="MSTR 7 C422.5"/>
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        <issuerConditional desc="Equity Option" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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            <writtenOrPur>Purchased</writtenOrPur>
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                <issuerName>MicroStrategy Inc</issuerName>
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            <shareNo>100.000000000000</shareNo>
            <exercisePrice>422.500000000000</exercisePrice>
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            <delta>XXXX</delta>
            <unrealizedAppr>66655.160000000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>MicroStrategy Inc</title>
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          <other otherDesc="BBGID" value="BBG01V5WXD27"/>
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        <curCd>USD</curCd>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Equity Option" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
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            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>MicroStrategy Inc</issuerName>
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            <shareNo>100.000000000000</shareNo>
            <exercisePrice>425.000000000000</exercisePrice>
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            <expDt>2025-07-03</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>5845.760000000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2025-10-15</ncom:dateSigned>
      <ncom:nameOfApplicant>Tidal Trust II</ncom:nameOfApplicant>
      <ncom:signature>/s/ Aaron Perkovich</ncom:signature>
      <ncom:signerName>Aaron Perkovich</ncom:signerName>
      <ncom:title>Treasurer/Principal Financial Officer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
