YieldMax PLTR Option Income Strategy ETF
Schedule of Investments
July 31, 2026 (Unaudited)
| PURCHASED OPTIONS - 7.9%(a)(b)(c)(d) | Notional Amount | Contracts | Value | |||||||||
| Call Options - 7.9% | ||||||||||||
| Palantir Technologies, Inc., Expiration: 8/7/2026; Exercise Price: $130.00 | $ | 128,203,908 | 10,418 | $ | 4,427,650 | |||||||
| Palantir Technologies, Inc., Expiration: 8/7/2026; Exercise Price: $129.00 | 105,499,338 | 8,573 | 3,943,580 | |||||||||
| Palantir Technologies, Inc., Expiration: 8/7/2026; Exercise Price: $128.00 | 13,413,540 | 1,090 | 542,275 | |||||||||
| Palantir Technologies, Inc., Expiration: 8/7/2026; Exercise Price: $127.00 | 55,377,000 | 4,500 | 2,407,500 | |||||||||
| Palantir Technologies, Inc., Expiration: 8/21/2026; Exercise Price: $140.00 | 134,012,340 | 10,890 | 3,348,675 | |||||||||
| Palantir Technologies, Inc., Expiration: 9/18/2026; Exercise Price: $135.00 | 168,481,446 | 13,691 | 9,207,198 | |||||||||
| 23,876,878 | ||||||||||||
| TOTAL PURCHASED OPTIONS (Cost $39,858,941) | 23,876,878 | |||||||||||
| SHORT-TERM INVESTMENTS - 108.5% | ||||||||||||
| Money Market Funds - 1.9% | Shares | Value | ||||||||||
| First American Government Obligations Fund - Class X, 3.58%(e) | 5,642,311 | 5,642,311 | ||||||||||
| U.S. Treasury Bills - 106.6% | Principal Amount | Value | ||||||||||
| U.S. Treasury Bill, 8/6/2026, 1.82%(f)(g) | $ | 108,880,000 | 108,847,382 | |||||||||
| U.S. Treasury Bill, 9/3/2026, 3.35%(f)(g) | 44,859,000 | 44,719,551 | ||||||||||
| U.S. Treasury Bill, 10/15/2026, 3.60%(f)(g) | 49,076,000 | 48,710,530 | ||||||||||
| U.S. Treasury Bill, 12/10/2026, 3.77%(f)(g) | 55,977,000 | 55,223,304 | ||||||||||
| U.S. Treasury Bill, 2/18/2027, 3.83%(f)(g) | 66,997,000 | 65,606,171 | ||||||||||
| 323,106,938 | ||||||||||||
| TOTAL SHORT-TERM INVESTMENTS (Cost $328,717,206) | 328,749,249 | |||||||||||
| TOTAL INVESTMENTS - 116.4% (Cost $368,576,147) | $ | 352,626,127 | ||||||||||
| Liabilities in Excess of Other Assets - (16.4)% | (49,676,251 | ) | ||||||||||
| TOTAL NET ASSETS - 100.0% | $ | 302,949,876 | ||||||||||
| Percentages are stated as a percent of net assets. | ||||||||||||
| (a) | Exchange-traded. |
| (b) | 100 shares per contract. |
| (c) | Held in connection with written option contracts. See Schedule of Written Options Contracts for further information. |
| (d) | Non-income producing security. |
| (e) | The rate shown represents the 7-day annualized effective yield as of July 31, 2026. |
| (f) | The rate shown is the annualized effective yield as of July 31, 2026. |
| (g) | All or a portion of this security has been pledged as collateral for written options contracts. The fair value of securities committed as collateral as of July 31, 2026 is $118,885,444. |
YieldMax PLTR Option Income Strategy ETF
Schedule of Written Options Contracts
July 31, 2026 (Unaudited)
| WRITTEN OPTIONS - (20.5)%(a)(b) | Notional Amount | Contracts | Value | |||||||||
| Call Options - (5.4)% | ||||||||||||
| Palantir Technologies, Inc., Expiration: 8/7/2026; Exercise Price: $125.00 | $ | (128,203,908 | ) | (10,418 | ) | $ | (6,459,160 | ) | ||||
| Palantir Technologies, Inc., Expiration: 8/7/2026; Exercise Price: $124.00 | (105,499,338 | ) | (8,573 | ) | (5,615,315 | ) | ||||||
| Palantir Technologies, Inc., Expiration: 8/7/2026; Exercise Price: $123.00 | (13,413,540 | ) | (1,090 | ) | (771,175 | ) | ||||||
| Palantir Technologies, Inc., Expiration: 8/7/2026; Exercise Price: $122.00 | (55,377,000 | ) | (4,500 | ) | (3,397,500 | ) | ||||||
| (16,243,150 | ) | |||||||||||
| Put Options - (15.1)% | ||||||||||||
| Palantir Technologies, Inc., Expiration: 8/21/2026; Exercise Price: $140.01 | (134,012,340 | ) | (10,890 | ) | (21,444,043 | ) | ||||||
| Palantir Technologies, Inc., Expiration: 9/18/2026; Exercise Price: $135.01 | (168,481,446 | ) | (13,691 | ) | (24,474,032 | ) | ||||||
| (45,918,075 | ) | |||||||||||
| TOTAL WRITTEN OPTIONS (Premiums received $53,373,317) | $ | (62,161,225 | ) | |||||||||
| Percentages are stated as a percent of net assets. | ||||||||||||
| (a) | Exchange-traded. |
| (b) | 100 shares per contract. |