Clough Long/Short Equity ETF
Schedule of Investments
July 31, 2023 (Unaudited)
	Shares		Value
COMMON STOCKS — 99.8%
Banking — 5.2%
ICICI Bank, Ltd. - ADR (b)		6,050	$	148,648
NU Holdings, Ltd. - Class A (a)(b)		16,200		128,952
				277,600
Consumer Discretionary Products — 5.8%
indie Semiconductor, Inc. - Class A (a)(d)		14,903		141,280
Skyline Champion Corp. (a)(d)		2,400		167,184
				308,464
Consumer Discretionary Services — 14.9%
2U, Inc. (a)		24,204		115,695
Arcos Dorados Holdings, Inc. - Class A (b)(d)		12,243		138,346
Carnival Corp. (a)(b)		5,700		107,388
DraftKings, Inc. (a)(d)		3,500		111,230
OneSpaWorld Holdings, Ltd. (a)(b)(d)		11,200		143,864
Service Corp. International (d)		2,684		178,889
				795,412
Consumer Staple Products — 2.0%
Carlsberg AS - Class B - ADR (b)(d)		3,600		107,748
Health Care — 8.2%
Humacyte, Inc. (a)		54,354		178,281
ModivCare, Inc. (a)		2,600		113,724
TransMedics Group, Inc. (a)(d)		1,600		149,088
				441,093
Industrial Products — 5.2%
Blue Bird Corp. (a)		7,200		150,768
Chart Industries, Inc. (a)		704		128,241
				279,009
Industrial Services — 4.6%
Rollins, Inc. (d)		3,163		129,145
Sterling Infrastructure, Inc. (a)		1,900		113,981
				243,126
Insurance — 2.5%
Tokio Marine Holdings, Inc. - ADR (a)(b)(d)		5,896		135,726
Materials — 8.1%
Agnico Eagle Mines, Ltd. (b)(d)		2,846		149,159
B2Gold Corp. (b)(d)		40,130		140,054
Kinross Gold Corp. (b)(d)		29,200		145,416
				434,629
Media — 2.8%
MakeMyTrip, Ltd. (a)(b)		5,250		151,043
Oil & Gas — 12.8%
Chesapeake Energy Corp. (d)		1,638		138,149
Helix Energy Solutions Group, Inc. (a)(d)		14,600		140,160
New Fortress Energy, Inc.		3,900		111,345
Pioneer Natural Resources Co. (d)		644		145,331
TechnipFMC PLC (a)(b)(d)		8,340		152,956
				687,941
Retail & Wholesale - Discretionary — 7.1%
MercadoLibre, Inc. (a)		123		152,280
Natura & Co. Holding SA - ADR (a)(b)		16,620		127,309
The RealReal, Inc. (a)		37,515		102,791
				382,380
Software & Technology Services — 8.9%
Planet Labs PBC (a)		40,200		149,544
SS&C Technologies Holdings, Inc. (d)		2,850		166,012
StoneCo, Ltd. -  Class A (a)(b)		11,150		161,564
				477,120
Technology Hardware & Semiconductors — 2.7%
Aehr Test Systems (a)(d)		2,804		146,257
Utilities — 9.0%
American Electric Power Co., Inc. (d)		1,900		161,006
Avista Corp. (d)		3,900		150,696
Hawaiian Electric Industries, Inc. (d)		4,500		172,755
				484,457
TOTAL COMMON STOCKS (Cost $4,771,253)				5,352,005
MONEY MARKET FUNDS — 8.4%
First American Government Obligations Fund - Class X, 5.14% (c)		449,128		449,128
TOTAL MONEY MARKET FUNDS (Cost $449,128)				449,128
TOTAL INVESTMENTS (Cost $5,220,381) — 108.2%				5,801,133
Other assets and liabilities, net — (8.2)%				(437,536	)
NET ASSETS — 100.0%			$	5,363,597

Percentages are stated as a percent of net assets.
ADR	American Depositary Receipt
PLC	Public Limited Company
(a)	Non-income producing security.
(b)	Foreign issued security
(c)	The rate shown is the seven-day yield at period end.
(d)	All or a portion of the security has been pledged to cover short positions. As of July 31, 2023, the value of these securities amounts to $1,839,712 or 34.3% of net assets.

Clough Long/Short Equity ETF
Schedule of Securities Sold Short
July 31, 2023 (Unaudited)
	Shares		Value
COMMON STOCKS — (33.8)%
Consumer Discretionary Products — (5.5)%
Deckers Outdoor Corp. (a)		100	$	54,369
On Holding AG - Class A (a)(b)		1,500		54,000
Tesla, Inc. (a)		450		120,344
Under Armour, Inc. - Class A (a)		8,000		64,480
				293,193
Consumer Discretionary Services — (3.0)%
Chipotle Mexican Grill, Inc. (a)		25		49,057
Marriott International, Inc. - Class A		400		80,724
Sweetgreen, Inc. - Class A (a)		2,000		30,140
				159,921
Consumer Staple Products — (1.6)%
Helen of Troy, Ltd. (a)(b)		600		84,780
Financial Services — (5.6)%
Apollo Global Management, Inc.		500		40,855
Blackstone, Inc.		500		52,395
Discover Financial Services		800		84,440
KKR & Co., Inc.		700		41,566
The Charles Schwab Corp.		1,200		79,320
				298,576
Industrial Services — (0.9)%
SiteOne Landscape Supply, Inc. (a)		300		51,000
Retail & Wholesale - Discretionary — (11.5)%
Amazon.com, Inc. (a)		500		66,840
Best Buy Co., Inc.		700		58,135
Figs, Inc. - Class A (a)		9,000		66,240
Lowe's Cos., Inc.		270		63,253
Lululemon Athletica, Inc. (a)		190		71,921
MarineMax, Inc. (a)		2,000		80,660
OneWater Marine, Inc. (a)		1,600		60,240
Sally Beauty Holdings, Inc. (a)		6,000		71,820
Williams-Sonoma, Inc.		550		76,252
				615,361
Software & Technology Services — (3.3)%
International Business Machines Corp.		620		89,392
PTC, Inc. (a)		600		87,486
				176,878
Technology Hardware & Semiconductors — (2.4)%
NVIDIA Corp.		280		130,841
Total Common Stocks (Proceeds $1,698,849)				1,810,550
Real Estate Investments Trusts (REITs) — (6.1)%
Digital Realty Trust, Inc.		600		74,772
Empire State Realty Trust, Inc.		6,400		57,280
Medical Properties Trust, Inc.		7,200		72,648
Rexford Industrial Realty, Inc.		1,200		66,108
Starwood Property Trust, Inc.		2,900		60,146
Total REITS (Proceeds $292,425)				330,954
Total Securities Sold Short (Proceeds $1,991,274) — (39.9)%				2,141,504

Percentages are stated as a percent of net assets.

(a) Non-income producing security.

(b) Foreign issued security.

Fair Value Measurements

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 July 31, 2023:

	Level 1		Level 2		Level 3		Total
Investments - Assets:
Common Stocks*	$	5,352,005	$	-	$	-	$	5,352,005
Money Market Funds		449,128		-		-		449,128
Total Investments - Assets	$	5,801,133	$	-	$	-	$	5,801,133
Securities Sold Short - Liabilities:
Common Stocks*	$	1,810,550	$	-	$	-	$	1,810,550
REITs		330,954		-		-		330,954
Total Securities Sold Short - Liabilities	$	2,141,504	$	-	$	-	$	2,141,504
* See the Schedules of Investments and Securities Sold Short for industry classifications.