Clough Select Equity ETF
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- Clough Select Equity ETF (CBSE) is an actively managed exchange-traded fund that seeks long-term capital appreciation by investing in a concentrated portfolio of 20-40 high-conviction, long-only equity securities selected through fundamental research and risk management processes. The ETF primarily targets U.S.-listed stocks across large-cap, mid-cap, and small-cap segments that offer attractive risk-reward profiles, with allocations spanning sectors including technology, consumer discretionary, industrials, communications, energy, financials, and consumer staples; top holdings as of December 2025 include Unity Software Inc, SiTime Corp, Clear Secure Inc, Solaris Energy Infrastructure, and Quanta Services Inc. CBSE benchmarks against the Bloomberg World All-Cap Equal Weight TR Index and carries a total annual operating expense ratio of 0.86%, with a management fee of 0.85%. Launched on November 13, 2020, and listed on the NYSE Arca, the ETF is managed by Clough Capital Partners L.P., a Boston-based boutique asset manager founded in 1999 with over $1.4 billion in assets under management as of October 2025. The fund reorganized in 2023 from its prior series under LiFT to the Elevation Series Trust, streamlining operations, consolidating service providers, and enhancing distribution support for improved efficiency and potential cost savings. In November 2025, Clough Capital marked the five-year anniversary of CBSE alongside its sibling Clough Hedged Equity ETF (CBLS), highlighting top-quartile performance in the Morningstar Global Small/Mid Stock category over 1-year, 3-year, and since-inception periods, with combined ETF AUM reaching $75.3 million. As of December 2025, CBSE manages approximately $37.75 million in net assets, with shares outstanding of 930,000 and a NAV of $41.48.