Clough Global Equity Fund

Holdings as of 07/31/2017, subject to change

Common Stock
Description % of Total Portfolio
Liberty Ventures - Series A 3.86%
Apple, Inc. 3.43%
Citigroup, Inc. 2.91%
Starwood Property Trust, Inc. 2.89%
Broadcom, Ltd. 2.86%
Bank of America Corp. 2.71%
Samsung Electronics Co., Ltd. 2.67%
Ares Capital Corp. 2.61%
Liberty Broadband Corp. 2.53%
Blackstone Mortgage Trust, Inc. 2.43%
Facebook, Inc. 1.95%
Yelp, Inc.
06/10/2016
1.90%
Golub Capital BDC, Inc. 1.56%
Duke Energy Corp. 1.56%
Eversource Energy 1.54%
Dominion Energy, Inc. 1.51%
DR Horton, Inc. 1.51%
Credit Acceptance Corp. 1.43%
Merck & Co., Inc.
02/22/2017
1.37%
ViaSat, Inc. 1.37%
PennyMac Mortgage Investment Trust 1.34%
JPMorgan Chase & Co.
02/22/2017
1.33%
AMERCO 1.25%
Lam Research Corp. 1.19%
Bristol-Myers Squibb Co. 1.16%
Ares Commercial Real Estate Corp. 1.09%
Ladder Capital Corp. 1.08%
Welltower, Inc. 1.07%
Microsoft Corp. 1.07%
Alibaba Group Holding, Ltd. 1.05%
Boston Scientific Corp. 1.04%
Align Technology, Inc. 0.99%
LogMeIn, Inc. 0.98%
Cognizant Technology Solutions Corp. 0.94%
PulteGroup, Inc. 0.91%
Cypress Semiconductor Corp. 0.88%
Japan Tobacco, Inc. 0.87%
Solar Capital, Ltd. 0.85%
Pfizer, Inc. 0.83%
National Grid PLC 0.80%
Vipshop Holdings, Ltd. 0.78%
Physicians Realty Trust 0.77%
Biogen, Inc. 0.75%
Lumentum Holdings, Inc. 0.73%
Alexion Pharmaceuticals, Inc. 0.72%
Bioverativ, Inc. 0.72%
Dialog Semiconductor PLC 0.71%
Galapagos NV 0.70%
Altice USA, Inc. 0.61%
Microsemi Corp. 0.60%
Nintendo Co., Ltd. 0.59%
Amazon.com, Inc. 0.58%
Lennar Corp. - Class A 0.57%
Western Digital Corp. 0.56%
Sony Corp. 0.56%
Fairway Energy LP - 144A 0.56%
ams AG 0.55%
Cardiome Pharma Corp. 0.54%
Hologic, Inc. 0.54%
Ellie Mae, Inc.
07/01/2018
0.51%
Vertex Pharmaceuticals, Inc. 0.48%
Celgene Corp. 0.47%
Foxconn Technology Co., Ltd. 0.46%
Sienna Biopharmaceuticals - Series B - 144A 0.45%
Franklin Resources, Inc. 0.45%
Arbor Realty Trust, Inc. 0.43%
Service Corp. International 0.43%
NxStage Medical, Inc.
07/01/2018
0.43%
Wayfair, Inc. 0.41%
Ulvac, Inc. 0.40%
NuVasive, Inc. 0.40%
Chr Hansen Holding A/S 0.39%
CRISPR Therapeutics AG - Series B 0.37%
GW Pharmaceuticals PLC 0.36%
Goldman Sachs BDC, Inc. 0.36%
Community Healthcare Trust, Inc. 0.35%
TRI Pointe Group, Inc. 0.35%
MTGE Investment Corp. 0.35%
Global Medical REIT, Inc. 0.34%
CRISPR Therapeutics AG 0.34%
Sienna Biopharmaceuticals, Inc. 0.33%
zooplus AG 0.32%
TPG Specialty Lending, Inc. 0.31%
Baidu, Inc. 0.31%
salesforce.com, Inc.
11/10/2015
0.30%
BioMarin Pharmaceutical, Inc. 0.30%
Baozun, Inc. 0.28%
Carvana Co. 0.26%
Semiconductor Manufacturing International Corp. 0.26%
Intra-Cellular Therapies, Inc. 0.22%
Envision Healthcare Corp. 0.17%
Man Wah Holdings, Ltd. 0.16%
Dermira, Inc. 0.13%
Kura Oncology, Inc. 0.06%
Total Common Stock 89.40%
Other Financial Instruments
Description % of Total Portfolio
Foreign Currency 2.60%
Total Return Swaps Contracts 1.90%
Rights and Warrants 0.00%2
Futures Contracts -0.52%
Securities Sold Short -6.73%
Total Other Financial Instruments -2.75%
Asset/Mortgage Backed Securities
Description % of Total Portfolio
Government National Mortgage Association
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%
2.55%
Total Short-Term Investments 2.55%
Government & Agency Obligations
Description % of Total Portfolio
U.S. Treasury Bond
08/15/2017, 4.750%
3.06%
U.S. Treasury Bond
08/15/2029, 6.125%
1.91%
U.S. Treasury Bond
02/15/2018, 3.500%
1.24%
U.S. Treasury Bond
11/15/2026, 6.500%
0.66%
Total Government & Agency Obligations 6.87%
Participation Notes
Description % of Total Portfolio
Midea Group Co., Ltd. - Class A - 144A 0.58%
Kweichow Moutai Co., Ltd. - Class A (Loan Participation Notes issued by Morgan Stanley Asia Products), expiring 11/09/2017 - 144A 0.32%
Total Participation Notes 0.90%
Preferred Stock
Description % of Total Portfolio
Annaly Capital Management, Inc., 7.625% 1.13%
Ares Management LP, 7.000% 0.58%
Two Harbors Investment Corp., 8.125% 0.41%
PennyMac Mortgage Investment Trust, 8.125% 0.22%
Morgan Stanley, 5.850% 0.13%
Hercules Capital, Inc.
07/30/2024, 6.250%
0.10%
PennyMac Mortgage Investment Trust, 8.000% 0.08%
AGNC Investment Corp., 7.750% 0.00%2
Total Preferred Stock 2.65%

1Only individual long positions shown.

2Less than 0.005% of total portfolio as of 07/31/2017.

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.