Tidal ETF Trust II NPORT-P Corevalues Alpha Greater China Growth ETF (Dec 2024 report)

CoreValues Alpha Greater China Growth ETF

Schedule of Investments

December 31, 2024 (Unaudited)

COMMON STOCKS - 99.9%	Shares		Value
Auto Manufacturers - 13.1%
BYD Co. Ltd. - Class H		15,136	$	519,476
Li Auto, Inc. – Class A - ADR (a)		3,980		95,480
Tesla, Inc. (a)		424		171,228
Yutong Bus Co. Ltd. - Class A		51,654		186,681
				972,865
Auto Parts & Equipment - 4.8%
Contemporary Amperex Technology Co. Ltd. - Class A		9,888		360,340
Beverages - 2.1%
Eastroc Beverage Group Co. Ltd. – Class A		2,400		81,714
Kweichow Moutai Co. Ltd. - Class A		348		72,658
				154,372
Cosmetics & Personal Care - 1.8%
Proya Cosmetics Co. Ltd. - Class A		11,560		134,142
Distribution & Wholesale - 2.0%
Pop Mart International Group Ltd. (b)		12,664		146,155
Diversified Financial Services - 1.8%
Futu Holdings Ltd. – Class A - ADR		1,677		134,143
Home Furnishings - 4.4%
Anker Innovations Technology Co. Ltd. - Class A		12,924		172,881
Midea Group Co. Ltd. - Class A		14,737		151,867
				324,748
Internet - 46.5%(c)
Alibaba Group Holding Ltd. - ADR		2,965		251,402
Baidu, Inc. – Class A - ADR (a)		1,876		158,166
Bilibili, Inc. - Class Z (a)		3,188		58,277
East Money Information Co. Ltd. - Class A		38,880		137,532
Full Truck Alliance Co. Ltd. – Class A - ADR		26,802		289,998
JD.com, Inc. - Class A		15,890		278,199
Meituan - Class B (a)(b)		23,608		461,040
PDD Holdings, Inc. - ADR (a)		6,130		594,549
Tencent Holdings Ltd.		11,436		613,909
Tencent Music Entertainment Group – Class A - ADR		6,409		72,742
Trip.com Group Ltd. - ADR (a)		7,918		543,650
				3,459,464
Miscellaneous Manufacturers - 0.8%
SICC Co. Ltd. - Class A (a)		8,825		61,902
Real Estate - 2.9%
KE Holdings, Inc. – Class A - ADR		11,639		214,390
Retail - 7.2%
ANTA Sports Products Ltd.		19,383		194,256
Luckin Coffee, Inc. – Class A - ADR (a)		13,266		340,538
				534,794
Software - 1.5%
Kingsoft Corp. Ltd.		19,278		83,510
NetEase, Inc. - ADR		352		31,402
				114,912
Telecommunications - 11.0%
Xiaomi Corp. - Class B (a)(b)		184,522		819,522
TOTAL COMMON STOCKS (Cost $6,230,372)				7,431,749

SHORT-TERM INVESTMENTS - 0.1%
Money Market Funds - 0.1%
First American Government Obligations Fund - Class X, 4.41% (d)	10,026		10,026
TOTAL SHORT-TERM INVESTMENTS (Cost $10,026)			10,026
TOTAL INVESTMENTS - 100.0% (Cost $6,240,398)			7,441,775
Liabilities in Excess of Other Assets - (0.0)% (e)			(1,412	)
TOTAL NET ASSETS - 100.0%		$	7,440,363

Percentages are stated as a percent of net assets.

ADR - American Depositary Receipt

(a)	Non-income producing security.
(b)	Security considered restricted. The total market value of these securities was $1,426,717 which represented 19.2% of net assets as of December 31, 2024.
(c)	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.
(d)	The rate shown represents the 7-day annualized effective yield as of December 31, 2024.
(e)	Represents less than 0.05% of net assets.

Summary of Fair Value Disclosure as of December 31, 2024 (Unaudited)

CoreValues Alpha Greater China Growth ETF has adopted authoritative fair value accounting standards which establish an authoritative 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 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 would be based on the best information available.

The following is a summary of the fair valuation hierarchy of the Fund’s securities as of December 31, 2024:

	Level 1		Level 2		Level 3		Total
Investments:
Common Stocks	$	7,431,749	$	—	$	—	$	7,431,749
Money Market Funds		10,026		—		—		10,026
Total Investments	$	7,441,775	$	—	$	—	$	7,441,775

Refer to the Schedule of Investments for further disaggregation of investment categories.