0001145549-24-022305.txt : 20240415 0001145549-24-022305.hdr.sgml : 20240415 20240415100348 ACCESSION NUMBER: 0001145549-24-022305 CONFORMED SUBMISSION TYPE: N-CEN PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20240131 FILED AS OF DATE: 20240415 DATE AS OF CHANGE: 20240415 EFFECTIVENESS DATE: 20240415 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Tidal Trust II CENTRAL INDEX KEY: 0001924868 ORGANIZATION NAME: IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: N-CEN SEC ACT: 1940 Act SEC FILE NUMBER: 811-23793 FILM NUMBER: 24843358 BUSINESS ADDRESS: STREET 1: 234 WEST FLORIDA STREET, SUITE 203 CITY: MILWAUKEE STATE: WI ZIP: 53204 BUSINESS PHONE: (844) 986-7676 MAIL ADDRESS: STREET 1: 234 WEST FLORIDA STREET, SUITE 203 CITY: MILWAUKEE STATE: WI ZIP: 53204 FORMER COMPANY: FORMER CONFORMED NAME: Tidal ETF Trust II DATE OF NAME CHANGE: 20220421 0001924868 S000079702 Return Stacked(R) Bonds & Managed Futures ETF C000240949 Return Stacked(R) Bonds & Managed Futures ETF RSBT 0001924868 S000079703 Return Stacked Global Stocks & Bonds ETF C000240950 Return Stacked Global Stocks & Bonds ETF 0001924868 S000081720 Return Stacked(R) U.S. Stocks & Managed Futures ETF C000244698 Return Stacked(R) U.S. Stocks & Managed Futures ETF RSST N-CEN 1 primary_doc.xml X0404 N-CEN LIVE 0001924868 XXXXXXXX false false false N-1A S000079702 true S000081720 true S000079703 true Tidal Trust II 811-23793 0001924868 549300BGXECFCIZF2P89 c/o Tidal ETF Services, LLC 234 West Florida Street, Suite 203 Milwaukee 53204 US-WI US 8449867700 U.S. Bancorp Fund Services LLC 615 East Michigan St. Milwaukee 53202 18336121912 Maintain physical/electronic accounts/books or any document required by section 31(a) of the Act (15 U.S.C. 80a-30(a)) and the rules under that section. N N N N-1A 38 Y Eric W. Falkeis N/A Y Dave Norris N/A N Michelle McDonough N/A N Javier Marquina 006281864 N William H. Woolverton N/A c/o Tidal ETF Services, LLC 234 West Florida, Suite 203 Milwaukee 53204 XXXXXX N N N N N N Foreside Fund Services, LLC 8-51293 000046106 N/A N N Cohen & Company, Ltd. 00925 N/A N N N N N N Return Stacked Bonds & Managed Futures ETF S000079702 549300RDT2JBHAXWFP12 Y 1 0 0 Exchange-Traded Fund Y N N N/A N/A N/A Rule 12d1-1 (17 CFR 270.12d1-1) Rule 6c-11 (17 CFR 270.6c-11) Rule 18f-4 (17 CFR 270.18f-4) N N N N Tidal Investments LLC 801-76857 000164201 N/A N Newfound Research LLC 801-73042 000159064 N/A N N U.S. Bancorp Fund Services LLC 85-11357 N1GZ7BBF3NP8GI976H15 N N N Intercontinental Exchange Inc. 5493000F4ZO33MV32P92 N PricingDirect Inc. 549300WIC0TOJ7N7GD54 N Bloomberg L.P. 549300B56MD0ZC402L06 N Refinitiv US LLC 213800HQORQAP68CJJ04 N IHS Markit Ltd. 549300HLPTRASHS0E726 BM N Standard and Poors Financial Services LLC 549300U4VWNITEKO2881 N N U.S. Bank N.A. 6BYL5QZYBDK8S7L73M02 N N Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1)) N N Tidal ETF Services, LLC N/A Y N U.S. Bancorp Global Fund Services LLC N1GZ7BBF3NP8GI976H15 N Y N PHILLIP CAPITAL INC. 8-69558 000173869 549300AZCWF9DX4IYK18 173978.230000000000 MERRILL LYNCH PIERCE FENNER & SMITH INCORPORATED 8-7221 000007691 8NAV47T0Y26Q87Y0QP81 7248.030000000000 GOLDMAN SACHS & CO. LLC 8-129 000000361 FOR8UP27PHTHYVLBNG30 2357.660000000000 ROBERT W. BAIRD & CO. INCORPORATED 8-497 000008158 549300772UJAHRD6LO53 67.530000000000 183651.450000000000 0.000000000000 N 24106799.738000000000 N N N N Return Stacked U.S. Stocks & Managed Futures ETF S000081720 529900292ODQWL2U6150 Y 1 0 0 Exchange-Traded Fund Y N N N/A N/A N/A Rule 12d1-1 (17 CFR 270.12d1-1) Rule 6c-11 (17 CFR 270.6c-11) Rule 18f-4 (17 CFR 270.18f-4) N N N N Tidal Investments LLC 801-76857 000164201 N/A N Newfound Research LLC 801-73042 000159064 N/A N N U.S. Bancorp Fund Services LLC 85-11357 N1GZ7BBF3NP8GI976H15 N N N Intercontinental Exchange Inc. 5493000F4ZO33MV32P92 N PricingDirect Inc. 549300WIC0TOJ7N7GD54 N Bloomberg L.P. 549300B56MD0ZC402L06 N Refinitiv US LLC 213800HQORQAP68CJJ04 N IHS Markit Ltd. 549300HLPTRASHS0E726 BM N Standard and Poors Financial Services LLC 549300U4VWNITEKO2881 N N U.S. Bank N.A. 6BYL5QZYBDK8S7L73M02 N N Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1)) N N Tidal ETF Services, LLC N/A Y N U.S. Bancorp Global Fund Services LLC N1GZ7BBF3NP8GI976H15 N Y N PHILLIP CAPITAL INC. 8-69558 000173869 549300AZCWF9DX4IYK18 71981.850000000000 MERRILL LYNCH PIERCE FENNER & SMITH INCORPORATED 8-7221 000007691 8NAV47T0Y26Q87Y0QP81 923.910000000000 ROBERT W. BAIRD & CO. INCORPORATED 8-497 000008158 549300772UJAHRD6LO53 166.300000000000 73072.060000000000 PHILLIP CAPITAL INC. 8-69558 000173869 549300AZCWF9DX4IYK18 500000.000000000000 500000.000000000000 N 23605703.149000000000 N N N N Return Stacked Global Stocks & Bonds ETF S000079703 549300BPECNCJ82TLE07 Y 1 0 0 Exchange-Traded Fund Y N N N N/A N/A N/A Rule 12d1-1 (17 CFR 270.12d1-1) Rule 6c-11 (17 CFR 270.6c-11) Rule 18f-4 (17 CFR 270.18f-4) N N N N Tidal Investments LLC 801-76857 000164201 N/A N Newfound Research LLC 801-73042 000159064 N/A N N U.S. Bancorp Fund Services LLC 85-11357 N1GZ7BBF3NP8GI976H15 N N N Intercontinental Exchange Inc. 5493000F4ZO33MV32P92 N PricingDirect Inc. 549300WIC0TOJ7N7GD54 N Bloomberg L.P. 549300B56MD0ZC402L06 N Refinitiv US LLC 213800HQORQAP68CJJ04 N IHS Markit Ltd. 549300HLPTRASHS0E726 BM N Standard and Poors Financial Services LLC 549300U4VWNITEKO2881 N N U.S. Bank N.A. 6BYL5QZYBDK8S7L73M02 N N Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1)) N N Tidal ETF Services, LLC N/A Y N U.S. Bancorp Global Fund Services LLC N1GZ7BBF3NP8GI976H15 N Y N PHILLIP CAPITAL INC. 8-69558 000173869 549300AZCWF9DX4IYK18 4094.830000000000 MERRILL LYNCH PIERCE FENNER & SMITH INCORPORATED 8-7221 000007691 8NAV47T0Y26Q87Y0QP81 730.790000000000 ROBERT W. BAIRD & CO. INCORPORATED 8-497 000008158 549300772UJAHRD6LO53 136.160000000000 BOFA SECURITIES INC. 8-69787 000283942 549300HN4UKV1E2R3U73 33.690000000000 MT ASSET MANAGEMENT, LLC 8-69239 000147381 25490041MWCRHV8UWL16 16.640000000000 5012.110000000000 0.000000000000 N 40901109.832000000000 N N N N Return Stacked Bonds & Managed Futures ETF S000079702 N 25000.000000000000 100.000000000000 0.000000000000 0.000000000000 0.000000000000 100.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 300.000000000000 0.000000000000 0.000000000000 300.000000000000 0.000000000000 0.000000000000 300.000000000000 0.000000000000 0.000000000000 300.000000000000 0.000000000000 N Return Stacked U.S. Stocks & Managed Futures ETF S000081720 N 25000.000000000000 100.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 300.000000000000 0.000000000000 0.000000000000 300.000000000000 0.000000000000 0.000000000000 300.000000000000 0.000000000000 0.000000000000 300.000000000000 0.000000000000 N Return Stacked Global Stocks & Bonds ETF S000079703 N 25000.000000000000 28.230000000000 44.620000000000 71.770000000000 44.620000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 0.000000000000 300.000000000000 0.000000000000 0.000000000000 300.000000000000 0.000000000000 0.000000000000 300.000000000000 0.000000000000 0.000000000000 300.000000000000 0.000000000000 N true INTERNAL CONTROL RPT 2 return_stacked.htm RETURN STACKED - INTERNAL CONTROL REPORT - 01/31/24

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
 
To the Shareholders of Return Stacked ETFs and
Board of Trustees of Tidal Trust II
 
In planning and performing our audit of the consolidated financial statements of Return Stacked Bonds & Managed Futures ETF and Return Stacked U.S. Stocks & Managed Futures ETF, and the financial statements of Return Stacked Global Stocks & Bonds ETF (the “Funds”), each a series of Tidal Trust II, as of and for the period ended January 31, 2024, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), we considered the Funds’ internal control over financial reporting, including controls over safeguarding securities, as a basis for designing our auditing procedures for the purpose of expressing our opinion on the financial statements and to comply with the requirements of Form N‐CEN, but not for the purpose of expressing an opinion on the effectiveness of the Funds’ internal control over financial reporting. Accordingly, we express no such opinion.
 
The management of the Funds is responsible for establishing and maintaining effective internal control over financial reporting. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of controls. A fund’s internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles (GAAP). A fund’s internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the fund; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with GAAP, and that receipts and expenditures of the fund are being made only in accordance with authorizations of management and trustees of the fund; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of a fund’s assets that could have a material effect on the financial statements.
 
Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.
 
A deficiency in internal control over financial reporting exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent or detect misstatements on a timely basis. A material weakness is a deficiency, or combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the Funds’ annual or interim financial statements will not be prevented or detected on a timely basis.
 
Our consideration of the Funds’ internal control over financial reporting was for the limited purpose described in the first paragraph and would not necessarily disclose all deficiencies in internal control that might be material weaknesses under standards established by the PCAOB. However, we noted no deficiencies in the Funds’ internal control over financial reporting and its operation, including controls over safeguarding securities, that we consider to be a material weakness as defined above as of January 31, 2024.
 
This report is intended solely for the information and use of management and the Board of Trustees of the Funds and the Securities and Exchange Commission and is not intended to be and should not be used by anyone other than these specified parties.
 

COHEN & COMPANY, LTD.
Philadelphia, Pennsylvania
March 29, 2024
C O H E N & C O M P A N Y , L T D .
800.229.1099 | 866.818.4538 fax | cohencpa.com
 
Registered with the Public Company Accounting Oversight Board