Clough Select Equity ETF |
Schedule of Investments |
January 31, 2024 (Unaudited) |
COMMON STOCKS - 98.8% | Shares | Value | ||||
Banking - 5.6% | ||||||
ICICI Bank, Ltd. - ADR | 12,238 | $ | 298,607 | |||
NU Holdings, Ltd. - Class A(a) | 34,180 | 294,290 | ||||
Total Banking | 592,897 | |||||
Consumer Discretionary Products - 2.9% | ||||||
Skyline Champion Corp.(a) | 4,429 | 303,298 | ||||
Total Consumer Discretionary Products | 303,298 | |||||
Consumer Discretionary Services - 16.2% | ||||||
Arcos Dorados Holdings, Inc. - Class A | 23,190 | 287,092 | ||||
Bowlero Corp. – Class A(a) | 24,328 | 262,986 | ||||
Carnival Corp.(a) | 12,600 | 208,908 | ||||
DraftKings, Inc. - Class A(a) | 8,650 | 337,782 | ||||
OneSpaWorld Holdings, Ltd.(a) | 23,876 | 325,430 | ||||
Service Corp. International | 4,074 | 273,447 | ||||
Total Consumer Discretionary Services | 1,695,645 | |||||
Health Care - 15.7% | ||||||
Eli Lilly & Co. | 366 | 236,293 | ||||
Humacyte, Inc.(a) | 107,081 | 355,508 | ||||
Merck & Co., Inc. | 1,949 | 235,400 | ||||
Progyny, Inc.(a) | 5,452 | 207,667 | ||||
Roivant Sciences, Ltd.(a) | 25,932 | 259,320 | ||||
TransMedics Group, Inc.(a) | 3,882 | 332,959 | ||||
Total Health Care | 1,627,147 | |||||
Industrial Products - 7.3% | ||||||
Blue Bird Corp.(a) | 10,673 | 310,905 | ||||
Northrop Grumman Corp. | 528 | 235,889 | ||||
RTX Corp. | 2,310 | 210,487 | ||||
Total Industrial Products | 757,281 | |||||
Industrial Services - 7.9% | ||||||
Ferguson PLC | 1,193 | 224,117 | ||||
Rollins, Inc. | 7,165 | 310,316 | ||||
Sterling Infrastructure, Inc.(a) | 3,716 | 279,072 | ||||
Total Industrial Services | 813,505 | |||||
Materials - 4.4% | ||||||
Ecolab, Inc. | 1,185 | 234,891 | ||||
Vale SA - ADR | 15,668 | 214,495 | ||||
Total Materials | 449,386 | |||||
Media - 3.7% | ||||||
MakeMyTrip, Ltd.(a) | 6,908 | 382,634 | ||||
Total Media | 382,634 | |||||
Oil & Gas - 7.7% | ||||||
Chesapeake Energy Corp. | 3,710 | 286,078 | ||||
Select Water Solutions, Inc. | 29,876 | 232,136 | ||||
TechnipFMC PLC | 14,290 | 276,368 | ||||
Total Oil & Gas | 794,582 | |||||
Real Estate - 2.7% | ||||||
Redfin Corp.(a) | 34,322 | 280,068 | ||||
Total Real Estate | 280,068 | |||||
Software & Technology Services - 5.3% | ||||||
ICF International, Inc. | 2,184 | 303,663 | ||||
SS&C Technologies Holdings, Inc. | 4,098 | 250,060 | ||||
Total Software & Technology Services | 553,723 | |||||
Technology Hardware & Semiconductors - 11.9% | ||||||
ASML Holding NV | 390 | 339,230 | ||||
Broadcom, Inc. | 263 | 310,340 | ||||
Lam Research Corp. | 383 | 316,040 | ||||
Micron Technology, Inc. | 3,170 | 271,828 | ||||
Total Technology Hardware & Semiconductors | 1,237,438 | |||||
Telecommunications - 2.7% | ||||||
Verizon Communications, Inc. | 6,576 | 278,494 | ||||
Total Telecommunications | 278,494 | |||||
Utilities - 4.8% | ||||||
American Electric Power Co., Inc. | 3,448 | 269,427 | ||||
Avista Corp. | 6,892 | 234,397 | ||||
Total Utilities | 503,824 | |||||
TOTAL COMMON STOCKS (Cost $9,450,665) | 10,269,922 | |||||
SHORT-TERM INVESTMENTS - 2.8% | ||||||
Money Market Funds - 2.8% | ||||||
First American Treasury Obligations Fund - Class X, 5.25%(b) | 294,453 | 294,453 | ||||
TOTAL SHORT-TERM INVESTMENTS (Cost $294,453) | 294,453 | |||||
TOTAL INVESTMENTS - 101.6% (Cost $9,745,118) | $ | 10,564,375 | ||||
Liabilities in Excess of Other Assets - (1.6)% | (162,179) | |||||
TOTAL NET ASSETS - 100.0% | $ | 10,402,196 |
Percentages are stated as a percent of net assets. |
ADR - American Depositary Receipt |
PLC - Public Limited Company |
(a) | Non-income producing security. |
(b) | The rate shown represents the seven-day effective yield as of January 31, 2024. |
Various inputs are used in determining the value of the Fund's investments. These inputs are summarized in three broad levels.
Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs
(including quoted prices for similar securities, interest rates, prepayment speeds and credit risk). Level 3 includes significant
unobservable inputs (including the Fund's own assumptions in determining the fair value of investments). The level assigned to the
securities valuations may not be an indication of the risk or liquidity associated with investing in those securities.
The Fund did not hold any investments during the period with significant unobservable inputs which would be classified as Level 3.
The following is a summary of the inputs used to value the Fund’s investments carried at fair value as of January 31, 2024:
Clough Select Equity ETF | ||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Assets: | ||||||||||||||||
Common Stocks | $ | 10,269,922 | $ | – | $ | – | $ | 10,269,922 | ||||||||
Money Market Funds | 294,453 | – | – | 294,453 | ||||||||||||
Total Assets | $ | 10,564,375 | $ | – | $ | – | $ | 10,564,375 | ||||||||
Refer to the Schedule of Investments for industry classifications. | ||||||||||||||||