Clough Select Equity ETF
Key Statistics
Historical Performance
Total return including reinvested distributions, from adjusted closing prices.
Price History
Price history is being compiled for this fund.
Top Holdings
Top 25 holdings as of Jan 31, 2026 · source: SEC N-PORT. Full holdings & prospectus →
About CBSE
TheFund is an actively managed exchange-traded fund (“ETF”) that seeks to achieve its investment objective by purchasingsecurities that Clough Capital Partners L.P. (the “Adviser”), the Fund’s investment adviser, believes: ●have above-average financial characteristics such as return on invested capital, profit margins, debt-to-equity ratio, or revenue and earnings growth as identified in financial statements, relative to the broader equity market; ●are undervalued based on valuation metrics such as (i) enterprise value to sales, (ii) enterprise value to earnings before interest, taxes, depreciation, and amortization, or (iii) price to earnings ratios; or ●have higher growth potential as indicated by sales growth, earnings growth, or free cash flow growth. TheFund primarily invests in U.S.-listed equity securities and sponsored depositary receipts, including American Depositary Receipts (“ADRs”),European Depositary Receipts (“EDRs”) and Global Depositary Receipts (“GDRs”). While the Fund’s equityexposure strategy focuses on investments in U.S. equity securities, the Fund’s strategy also includes investments in companiesorganized in the U.S. but deriving revenue from international markets, including emerging markets. The Fund will make investments inemerging markets using U.S.-listed securities of companies domiciled in emerging market countries. The Fund defines emerging marketsas countries experiencing rapid economic growth, increasing per capita income, developing financial systems, and potential for high growth.While the Adviser seeks companies it believes will outperform over a full market cycle (typically 5-11 years), the Fund may experiencehigher portfolio turnover in the short term as the Fund responds to changing market conditions or when the Adviser identifies new opportunities.The Adviser seeks to manage the Fund in a tax-aware manner in order to enhance after tax returns without compromising the duty to maximizerisk-adjusted returns. TheAdviser’s investment process is built on seeking to identify and capitalize on industry or economic trends that other investorshave not yet recognized. The Adviser believes that it can identify industry or economic trends by analyzing industry and economic relatedinformation such as capital flows that effect natural resource scarcity, technological innovations which have the potential to disrupttraditional industries, impacts of demographic shifts, and changes in profit or credit cycles. The Adviser then interprets the informationanalyzed to identify emerging patterns or changes in various sectors of the economy and develops a strategy for the Fund to allocateits capital into investible securities. TheAdviser identifies investible securities through rigorous research, including analysis of public company filings, customer preferences,relevant supply chains, and additional publicly available company information. The investment process focuses on a number of significantglobal investment themes identified by the Adviser through its research process. Global investment themes include industry oreconomic trends that the Adviser believes will significantly impact multiple sectors or regions of the global economy. The Adviserbelieves that the Fund can invest in companies affected by an attractive global investment theme which the Adviser anticipateswill result in positive investment returns. For instance, an attractive global investment theme could be the emergence of artificialintelligence (AI) as a transformative technology. The Adviser might identify this theme by observing increased investment in AIresearch and development, analyzing the growing demand for advanced semiconductor chips, and studying the proliferation of AI-poweredapplications across various industries. This theme could result in far-reaching implications for semiconductor manufacturers,companies throughout the semiconductor supply chain, consumer electronics producers, software developers, and numerous other sectorsthat stand to benefit from or be negatively impacted by AI technology. Whensuch a theme is identified, the Adviser then conducts bottom-up research to find specific companies that are well-positioned to benefitfrom this trend. In the AI example, this research might uncover potential investments in leading chip designers, manufacturers of specializedAI hardware, cloud computing providers offering AI services, or software companies developing innovative AI applications. This approachallows the Fund to invest in the global trends identified by selecting individual securities that the Adviser believes will offer thebest potential for positive returns. Individual security positions are selected after an evaluation of various company characteristics,such as an assessment of a company's market position compared to its competitors, which would involve analyzing company specific factorsincluding market share, product differentiation, and brand strength. The Adviser also evaluates the quality of company management byexamining its track record, strategic decisions, and ability to execute business plans effectively. The company selection assessmentalso includes analyzing a company’s financial performance metrics, reviewing a company’s public statements and interviews,and evaluating a company’s reputation within its industry. The Adviser also analyzes a company’s earnings, cash flow, andbalance sheet to assess its financial stability and potential for positive investment returns. In addition, the Adviser evaluates whethera company’s market share, profitability and market valuation is justified and likely to persist over time, compared to both itsown and peer historical metrics. The evaluation process involves analysis of various financial ratios and metrics, including price-to-earnings,earnings per share, return on equity, and debt-to-equity ratios, to determine if a company’s stock price accurately reflects itsfundamental value and growth potential. TheAdviser employs a tax-aware approach to managing investments across two dimensions. First, the Fund’s ETF structure provides inherenttax efficiency through in-kind creation/redemption mechanisms that defer capital gains. Second, the Adviser employs systematic monthlymonitoring of gains and losses to identify offset opportunities, and use of tax-lot accounting, to strategically harvest losses whenconsistent with investment objectives. These tax-aware procedures are intended to enhance after-tax returns without compromising theprimary duty to maximize risk-adjusted returns, which the Adviser believes makes the Fund suitable for both taxable and tax-advantagedaccounts. TheFund’s portfolio construction is driven by the Adviser’s bottom-up research process, which seeks to identify the most compellinginvestment opportunities across various sectors. The Fund’s equity stock position concentrations will be higher in sectors suchas energy, technology, consumer, industrial, and healthcare at times, and the Fund does not adhere to strict sector weighting parameters.This approach allows the Fund to invest in companies that have the greatest potential for returns, regardless of sector. The Fund willtypically maintain a diversified portfolio of 20-40 positions. This range allows for meaningful exposure to high-conviction ideas whilemaintaining a level of diversification to manage overall portfolio risk. Undernormal circumstances, at least 80% of the Fund’s net assets, plus borrowings for investment purposes, will be invested in equitysecurities, including common stocks and sponsored depositary receipts.
CBSE News
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Data for CBSE is aggregated from third-party providers (Tiingo, Nasdaq, Finnhub) and SEC filings, may be delayed at least 20 minutes, and may be incomplete or contain errors. Nothing here is investment advice. Verify with the official prospectus before investing.