Clough Global Equity Fund

Holdings as of 12/31/2017, subject to change

Common Stock
Description % of Total Portfolio
Blackstone Mortgage Trust, Inc. 3.34%
Starwood Property Trust, Inc. 3.26%
Bank of America Corp. 2.85%
Ares Capital Corp. 2.77%
Liberty Ventures 2.71%
Liberty Broadband Corp. 2.63%
Citigroup, Inc. 2.61%
JPMorgan Chase & Co. 2.24%
Microsoft Corp. 2.18%
Broadcom, Ltd. 1.85%
Alibaba Group Holding, Ltd. 1.85%
Amazon.com, Inc. 1.68%
Apple, Inc. 1.64%
Samsung Electronics Co., Ltd. 1.56%
Facebook, Inc. 1.55%
ViaSat, Inc. 1.47%
Golub Capital BDC, Inc. 1.47%
CRISPR Therapeutics AG 1.35%
Credit Acceptance Corp. 1.33%
LogMeIn, Inc. 1.08%
Physicians Realty Trust 1.06%
Lam Research Corp. 1.05%
Panasonic Corp. 0.97%
JD.com, Inc. 0.95%
Ladder Capital Corp. 0.92%
Express Scripts Holding Co. 0.91%
Cognizant Technology Solutions Corp. 0.87%
Solar Capital, Ltd. 0.87%
ams AG 0.85%
Ping An Insurance Group Co. of China, Ltd. - Class H 0.85%
Apellis Pharmaceuticals Inc 0.84%
Carvana Co. 0.81%
TAL Education Group 0.79%
Bristol-Myers Squibb Co. 0.78%
BYD Co., Ltd. - Class H 0.77%
Micron Technology, Inc. 0.75%
Pfizer, Inc. 0.74%
Clovis Oncology, Inc. 0.67%
DR Horton, Inc. 0.67%
Sony Corp. 0.66%
Arbor Realty Trust, Inc. 0.65%
Cypress Semiconductor Corp. 0.62%
Nintendo Co., Ltd. 0.61%
Salesforce.com, Inc. 0.60%
Intra-Cellular Therapies, Inc. 0.60%
Vertex Pharmaceuticals, Inc. 0.60%
Sienna Biopharmaceuticals - Series B - 144A 0.60%
GoDaddy, Inc. 0.60%
Celgene Corp. 0.60%
Orbotech, Ltd. 0.59%
Baozun, Inc. 0.59%
Microchip Technology, Inc. 0.58%
Boston Scientific Corp. 0.58%
American Tower Corp. 0.58%
Equinix, Inc. 0.58%
Community Healthcare Trust, Inc. 0.56%
TCG BDC, Inc. 0.54%
zooplus AG 0.54%
Ctrip.com International, Ltd. 0.53%
Apellis Pharmaceutical - Pp - 144A 0.51%
Align Technology, Inc. 0.51%
Fairway Energy LP - 144A 0.50%
Lennar Corp. 0.50%
PulteGroup, Inc. 0.47%
Galapagos NV 0.47%
Wayfair, Inc. 0.46%
Japan Tobacco, Inc. 0.45%
GW Pharmaceuticals PLC 0.45%
Ulvac, Inc. 0.45%
Biogen, Inc. 0.44%
Global Medical REIT, Inc. 0.43%
TPG Specialty Lending, Inc. 0.43%
Sienna Biopharmaceuticals, Inc. 0.41%
ServiceNow, Inc. 0.39%
Service Corp. International 0.37%
Altice USA, Inc. 0.37%
Bioverativ, Inc. 0.36%
Baidu, Inc. 0.34%
TRI Pointe Group, Inc. 0.34%
Centrexion Therapeutics - Pp - 144A 0.33%
Largan Precision Co., Ltd. 0.32%
BioMarin Pharmaceutical, Inc. 0.29%
Cardiome Pharma Corp. 0.28%
Man Wah Holdings, Ltd. 0.25%
Lennar Corp 0.02%
Total Common Stock 79.49%
Closed-End Funds
Description % of Total Portfolio
Altaba, Inc. 1.74%
Total Closed-End Funds 1.74%
Other Financial Instruments
Description % of Total Portfolio
Total Return Swaps Contracts 9.70%
Foreign Currency -0.22%
Securities Sold Short -10.51%
Total Other Financial Instruments -1.03%
Short-Term Investments
Description % of Total Portfolio
BlackRock Liquidity Funds, T-Fund Portfolio - Institutional Class
12/31/2049, 0.936%
9.01%
Total Short-Term Investments 9.01%
Government & Agency Obligations
Description % of Total Portfolio
Treasury Bill B 06/07/18
06/07/2018, 0.000%
2.16%
U.S. Treasury Bonds
08/15/2029, 6.125%
1.49%
U.S. Treasury Bonds
08/15/2044, 3.125%
1.17%
U.S. Treasury Bonds
11/15/2026, 6.500%
0.92%
Total Government & Agency Obligations 5.74%
Participation Notes
Description % of Total Portfolio
Midea Group Co., Ltd. - 144A
05/13/2019
1.15%
Total Participation Notes 1.15%
Preferred Stock
Description % of Total Portfolio
Annaly Capital Management, Inc., 7.625% 1.15%
Ares Management LP, 7.000% 0.82%
Two Harbors Investment Corp., 0.000% 0.60%
Summit Hotel 6.250%, Series E
12/31/2049, 6.250%
0.45%
PennyMac Mortgage Investment Trust, 0.000% 0.31%
Two Harbors 7.250%, Series C
12/31/2049, 0.000%
0.27%
Global Medical REIT, Inc.
12/31/2049, 7.500%
0.19%
PennyMac Mortgage Investment Trust, 0.000% 0.11%
Total Preferred Stock 3.90%

1Only individual long positions shown.

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.