Clough Global Equity Fund

Holdings as of 05/31/2017, subject to change

Common Stock
Description % of Total Portfolio
Apple Inc 3.63%
Liberty Ventures - Series A 3.20%
Starwood Property Trust, Inc. 2.69%
Ares Capital Corp. 2.47%
Broadcom, Ltd. 2.43%
Citigroup, Inc. 2.40%
Samsung Electronics Co., Ltd. 2.31%
Blackstone Mortgage Trust, Inc. - Class A 2.27%
Liberty Broadband Corp. - Class C 2.12%
Bank of America Corp. 1.95%
Merck & Co., Inc.
02/22/2017
1.74%
Yelp Inc
06/10/2016
1.52%
Golub Capital BDC, Inc. 1.52%
Dominion Resources, Inc. 1.47%
Eversource Energy 1.46%
Duke Energy Corp 1.46%
DR Horton, Inc. 1.29%
Microsoft Corp. 1.28%
ViaSat, Inc. 1.26%
PennyMac Mortgage Investment Trust 1.25%
Biogen, Inc. 1.18%
Credit Acceptance Corp 1.15%
Western Digital Corp. 1.11%
Ladder Capital Corp. 1.07%
Ares Commercial Real Estate Co 1.05%
Align Technology Inc 1.00%
Dialog Semiconductor Plc 0.99%
Boston Scientific Corp 0.98%
Cognizant Technology Solutions Corp. - Class A 0.95%
Alphabet, Inc. - Class A 0.95%
Japan Tobacco Inc 0.87%
IMAX Corp.
07/01/2018
0.86%
Bristol-Meyers Squibb Co. 0.85%
Mtge Investment Corp 0.84%
National Grid PLC - Sponsored ADR 0.82%
Physicians Realty Trust 0.79%
PulteGroup, Inc. 0.78%
Logmein Inc 0.78%
Alibaba Group Holding, Ltd. - Sponsored ADR 0.78%
Pfizer Inc 0.76%
Alexion Pharmaceuticals, Inc. 0.75%
Vipshop Holdings, Ltd. - ADR 0.73%
Celgene Corp. 0.69%
Tableau Software, Inc. - Class A 0.65%
Fairway Energy Lp - Pp - 144A 0.63%
Chr Hansen Holding A/s 0.63%
Lumentum Holdings Inc 0.62%
Amerco 0.60%
Ellie Mae Inc
07/01/2018
0.60%
Solar Capital, Ltd. 0.57%
Biomarin Pharmaceutical Inc 0.56%
Facebook, Inc. - Class A 0.55%
Inphi Corp 0.53%
Lennar Corp. - Class A 0.52%
Parsley Energy, Inc. - Class A 0.51%
Nintendo Co., Ltd. 0.49%
Hologic, Inc. 0.49%
Cardiome Pharma Corp 0.49%
Baidu, Inc. - Sponsored ADR 0.47%
Ams Ag 0.47%
Sony Corp 0.46%
Galapagos NV - Sponsored ADR 0.46%
Welltower, Inc. 0.45%
Foxconn Technology Co., Ltd. 0.41%
Arbor Realty Trust Inc 0.40%
salesforce.com, Inc.
11/10/2015
0.39%
Ulvac Inc 0.39%
Service Corp. International 0.37%
Nxstage Medical Inc
07/01/2018
0.37%
Vertex Pharmaceuticals Inc 0.36%
Goldman Sachs BDC, Inc. 0.34%
Global Medical Reit Inc 0.32%
Wayfair, Inc. - Class A 0.31%
Rsp Permian Inc 0.30%
Tri Pointe Group Inc 0.30%
Tpg Specialty Lending Inc 0.29%
Ptc Inc 0.29%
CRISPR Therapeutics AG - Series B - 144A 0.27%
Sienna Biopharmaceuticals - Series B - 144A 0.27%
GW Pharmaceuticals PLC - ADR 0.24%
Crispr Therapeutics Ag 0.24%
Semiconductor Manufacturing In 0.23%
Editas Medicine Inc 0.20%
Dermira Inc 0.19%
Intra-Cellular Therapies, Inc. 0.18%
Envision Healthcare Corp 0.15%
Kura Oncology Inc 0.05%
Total Common Stock 78.06%
Corporate Bonds
Description % of Total Portfolio
Citigroup, Inc., 5.800% 0.56%
Total Corporate Bonds 0.56%
Other Financial Instruments
Description % of Total Portfolio
Total Return Swaps Contracts 8.50%
Foreign Currency 1.07%
Rights and Warrants 0.00%2
Futures Contracts -0.48%
Securities Sold Short -4.51%
Total Other Financial Instruments 4.58%
Asset/Mortgage Backed Securities
Description % of Total Portfolio
Government National Mortgage Association - REMICS
10/16/2040, 2.337%
0.38%
Total Asset/Mortgage Backed Securities 0.38%
Short-Term Investments
Description % of Total Portfolio
BlackRock Liquidity Funds, T-Fund Portfolio - Institutional Class
12/31/2049, 0.630%
5.24%
Morgan Stanley Institutional Liquidity Fund
12/31/2049, 0.004%
0.05%
Total Short-Term Investments 5.29%
Government & Agency Obligations
Description % of Total Portfolio
U.S. Treasury Notes
08/15/2017, 4.750%
4.30%
U.S. Treasury Bonds
08/15/2029, 6.125%
1.80%
U.S. Treasury Notes
02/15/2018, 3.500%
1.16%
U.S. Treasury Bonds
11/15/2026, 6.500%
0.62%
Total Government & Agency Obligations 7.88%
Participation Notes
Description % of Total Portfolio
Kweichow Moutai Co., Ltd. - Class A (Loan Participation Notes issued by Morgan Stanley Asia Products), expiring 11/09/2017 - 144A 0.54%
Midea Group Co., Ltd. - Class A - 144A 0.33%
Total Participation Notes 0.87%
Preferred Stock
Description % of Total Portfolio
Annaly Capital, Series E, 7.625% 1.04%
Ares Mgmt 7%, Series A, 7.000% 0.54%
Two Harbors Investment Corp., Series A, 8.125% 0.39%
PennyMac Mortgage Investment Trust, Series A, 8.125% 0.20%
Morgan Stanley, Series K, 5.850% 0.12%
Hercules Technol 6.25%
07/30/2024, 6.250%
0.09%
Agnc Investment 7.75%, Series B, 7.750% 0.00%2
Total Preferred Stock 2.38%

1Only individual long positions shown.

2Less than 0.005% of total portfolio as of 05/31/2017.

According to the Fund's holding disclosure policy, as approved by the Board of Trustees, the release of the month-end holdings information will be delayed at least 30 days.

Holdings subject to change without notice.