YieldMax XOM Option Income Strategy ETF
Schedule of Investments
July 31, 2026 (Unaudited)
| PURCHASED OPTIONS - 6.6%(a)(b)(c)(d) | Notional Amount | Contracts | Value | |||||||||
| Call Options - 6.6% | ||||||||||||
| ExxonMobil Holdings Corp., Expiration: 8/7/2026; Exercise Price: $155.00 | $ | 39,481,760 | 2,540 | $ | 750,570 | |||||||
| ExxonMobil Holdings Corp., Expiration: 8/21/2026; Exercise Price: $150.01 | 39,481,760 | 2,540 | 1,827,682 | |||||||||
| 2,578,252 | ||||||||||||
| TOTAL PURCHASED OPTIONS (Cost $2,364,592) | 2,578,252 | |||||||||||
| SHORT-TERM INVESTMENTS - 96.7% | ||||||||||||
| Money Market Funds - 2.0% | Shares | Value | ||||||||||
| First American Government Obligations Fund - Class X, 3.58%(e) | 774,445 | 774,445 | ||||||||||
| U.S. Treasury Bills - 94.7% | Principal Amount | Value | ||||||||||
| U.S. Treasury Bill, 8/6/2026, 1.82%(f) | $ | 4,714,000 | 4,712,588 | |||||||||
| U.S. Treasury Bill, 9/3/2026, 3.35%(f) | 14,787,000 | 14,741,033 | ||||||||||
| U.S. Treasury Bill, 10/15/2026, 3.60%(f) | 7,071,000 | 7,018,342 | ||||||||||
| U.S. Treasury Bill, 12/10/2026, 3.77%(f) | 7,113,000 | 7,017,228 | ||||||||||
| U.S. Treasury Bill, 2/18/2027, 3.83%(f) | 3,926,000 | 3,844,498 | ||||||||||
| 37,333,689 | ||||||||||||
| TOTAL SHORT-TERM INVESTMENTS (Cost $38,103,184) | 38,108,134 | |||||||||||
| TOTAL INVESTMENTS - 103.3% (Cost $40,467,776) | $ | 40,686,386 | ||||||||||
| Liabilities in Excess of Other Assets - (3.3)% | (1,295,454 | ) | ||||||||||
| TOTAL NET ASSETS - 100.0% | $ | 39,390,932 | ||||||||||
| 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. |
YieldMax XOM Option Income Strategy ETF
Schedule of Written Options Contracts
July 31, 2026 (Unaudited)
| WRITTEN OPTIONS - (4.5)%(a)(b) | Notional Amount | Contracts | Value | |||||||||
| Call Options - (2.9)% | ||||||||||||
| ExxonMobil Holdings Corp., Expiration: 8/7/2026; Exercise Price: $152.50 | $ | (39,481,760 | ) | (2,540 | ) | $ | (1,155,700 | ) | ||||
| Put Options - (1.6)% | ||||||||||||
| ExxonMobil Holdings Corp., Expiration: 8/21/2026; Exercise Price: $150.01 | (39,481,760 | ) | (2,540 | ) | (621,690 | ) | ||||||
| TOTAL WRITTEN OPTIONS (Premiums received $2,845,503) | $ | (1,777,390 | ) | |||||||||
| Percentages are stated as a percent of net assets. | ||||||||||||
| (a) | Exchange-traded. |
| (b) | 100 shares per contract. |