| YieldMax GOOGL Option Income Strategy ETF | ||||||||||||
| Schedule of Investments | ||||||||||||
| July 31, 2026 (Unaudited) | ||||||||||||
| PURCHASED OPTIONS - 2.4%(a)(b)(c)(d) | Notional Amount | Contracts | Value | |||||||||
| Call Options - 2.4% | ||||||||||||
| Alphabet, Inc., Expiration: 8/7/2026; Exercise Price: $367.50 | $ | 114,317,730 | 3,210 | $ | 832,995 | |||||||
| Alphabet, Inc., Expiration: 8/7/2026; Exercise Price: $357.50 | 128,562,930 | 3,610 | 2,156,975 | |||||||||
| Alphabet, Inc., Expiration: 9/18/2026; Exercise Price: $400.01 | 242,880,660 | 6,820 | 2,764,487 | |||||||||
| 5,754,457 | ||||||||||||
| TOTAL PURCHASED OPTIONS (Cost $10,108,533) | 5,754,457 | |||||||||||
| SHORT-TERM INVESTMENTS - 114.6% | ||||||||||||
| Money Market Funds - 0.1% | Shares | Value | ||||||||||
| First American Government Obligations Fund - Class X, 3.58%(e) | 199,394 | 199,394 | ||||||||||
| U.S. Treasury Bills - 114.5% | Principal Amount | Value | ||||||||||
| U.S. Treasury Bill, 8/6/2026, 1.82%(f) | $ | 71,034,000 | 71,012,720 | |||||||||
| U.S. Treasury Bill, 9/3/2026, 3.35%(f) | 73,860,000 | 73,630,398 | ||||||||||
| U.S. Treasury Bill, 10/15/2026, 3.60%(f) | 56,830,000 | 56,406,786 | ||||||||||
| U.S. Treasury Bill, 12/10/2026, 3.77%(f) | 35,760,000 | 35,278,514 | ||||||||||
| U.S. Treasury Bill, 2/18/2027, 3.83%(f) | 37,804,000 | 37,019,205 | ||||||||||
| 273,347,623 | ||||||||||||
| TOTAL SHORT-TERM INVESTMENTS (Cost $273,518,192) | 273,547,017 | |||||||||||
| TOTAL INVESTMENTS - 117.0% (Cost $283,626,725) | $ | 279,301,474 | ||||||||||
| Liabilities in Excess of Other Assets - (17.0)% | (40,597,456 | ) | ||||||||||
| TOTAL NET ASSETS - 100.0% | $ | 238,704,018 | ||||||||||
| 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 GOOGL Option Income Strategy ETF | ||||||||||||
| Schedule of Written Options Contracts | ||||||||||||
| July 31, 2026 (Unaudited) | ||||||||||||
| WRITTEN OPTIONS - (15.5)%(a)(b) | Notional Amount | Contracts | Value | |||||||||
| Call Options - (2.5)% | ||||||||||||
| Alphabet, Inc., Expiration: 8/7/2026; Exercise Price: $360.00 | $ | (114,317,730 | ) | (3,210 | ) | $ | (1,548,825 | ) | ||||
| Alphabet, Inc., Expiration: 8/7/2026; Exercise Price: $347.50 | (128,562,930 | ) | (3,610 | ) | (4,313,950 | ) | ||||||
| (5,862,775 | ) | |||||||||||
| Put Options - (13.0)% | ||||||||||||
| Alphabet, Inc., Expiration: 9/18/2026; Exercise Price: $400.01 | (242,880,660 | ) | (6,820 | ) | (31,114,818 | ) | ||||||
| TOTAL WRITTEN OPTIONS (Premiums received $31,758,783) | $ | (36,977,593 | ) | |||||||||
| Percentages are stated as a percent of net assets. | ||||||||||||
| (a) | Exchange-traded. |
| (b) | 100 shares per contract. |