Saba discloses 5.68% Clough Global Equity (NYSE: GLQ) stake

Rhea-AI Filing Summary

Saba Capital Management filed Amendment No. 2 to a Schedule 13D reporting a significant position in Clough Global Equity Fund. The reporting group, including Saba Capital, Saba Capital Management GP and Boaz R. Weinstein, beneficially owns 1,063,832 common shares, or 5.68% of the fund’s outstanding shares.

The percentage is based on 18,738,121 common shares outstanding as of 10/31/25. Approximately $10,636,712 was paid to acquire these shares, using investor subscription proceeds, related capital appreciation and ordinary-course margin borrowings. All recent trades over the 60 days before 05/06/26 were executed in the open market.

Insights

Closed-end fund & activism analyst

Saba discloses a 5.68% stake in Clough Global Equity Fund, signaling a meaningful but minority position.

Saba Capital, together with related entities and Boaz R. Weinstein, reports beneficial ownership of 1,063,832 common shares of Clough Global Equity Fund, equal to 5.68% of outstanding shares based on 18,738,121 shares as of 10/31/25.

The filing notes total acquisition cost of about $10,636,712, funded by investor subscriptions, capital appreciation and standard margin account borrowings where positions serve as collateral. All trades in the 60 days before 05/06/26 were made in the open market, indicating ordinary secondary-market accumulation.

This disclosure establishes Saba as a sizable holder with shared voting and dispositive power over the stake but does not itself outline any specific plans or proposals. Future public communications or additional amendments would be needed to clarify any strategic intentions related to this position.

Key Figures

Beneficial ownership: 1,063,832 shares Ownership percentage: 5.68% Shares outstanding: 18,738,121 shares +3 more

6 metrics

Beneficial ownership 1,063,832 shares Common shares of Clough Global Equity Fund reported by Saba group

Ownership percentage 5.68% Portion of Clough Global Equity Fund outstanding shares

Shares outstanding 18,738,121 shares GLQ common shares outstanding as of 10/31/25 from N-CSR

Acquisition cost $10,636,712 Total amount paid to acquire reported GLQ shares

Shared voting power 1,063,832 shares Voting power shared by each reporting person

Shared dispositive power 1,063,832 shares Shared power to dispose of GLQ shares

Key Terms

Schedule 13D, beneficial owner, margin account borrowings, dispositive power, +1 more

5 terms

Schedule 13D regulatory

"This Amendment No. 2 amends Items 3, 5, and 7."

A Schedule 13D is a legal document that investors file with regulators when they buy a large enough stake in a company to potentially influence its management or decisions. It provides details about the investor’s intention, ownership stake, and plans, helping other investors understand who is gaining control and what their motives might be.

beneficial owner regulatory

"the beneficial owner of the Common Shares reported herein."

A beneficial owner is the person who ultimately owns or controls a financial asset or property, even if their name isn't directly on official documents. Think of it like someone who secretly holds the keys to a safe deposit box—others may appear to have access, but the true owner is the one who benefits from what's inside. Identifying beneficial owners helps ensure transparency and prevent illegal activities like money laundering or fraud.

margin account borrowings financial

"and margin account borrowings made in the ordinary course of business."

dispositive power regulatory

"sole or shared power to dispose or to direct the disposition."

Dispositive power is the authority to decide the final outcome of an asset, legal claim, contract, or corporate action — in effect the power to dispose of or resolve something. For investors it matters because whoever holds that authority can determine who gets paid, who controls an asset or vote, and how risks and returns are allocated; think of it like holding the key that lets you lock in the winner or loser in a deal.

N-CSR regulatory

"as disclosed in the company's N-CSR filed 1/6/26."

A Form N-CSR is a regulatory filing that mutual funds and other registered investment companies send to the U.S. Securities and Exchange Commission and make available to shareholders; it includes the fund’s certified shareholder report with audited financial statements, performance data and management discussion. For investors, it’s like a fund’s official report card and financial statement combined — it helps you verify how the fund is performing, what risks and fees exist, and whether the manager’s explanations match the numbers.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 2)

Clough Global Equity Fund

(Name of Issuer)

Common Shares, no par value

(Title of Class of Securities)

18914C100

(CUSIP Number)

Saba Capital Management, L.P.
405 Lexington Avenue, 58th Floor, Attention: Michael D'Angelo
New York, NY, 10174
(212) 542-4635

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

05/06/2026

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

schemaVersion:

SCHEDULE 13D

CUSIP Number(s): 18914C100

1

Name of reporting person

Saba Capital Management, L.P.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 1,063,832.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 1,063,832.00

11

Aggregate amount beneficially owned by each reporting person

1,063,832.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

5.68 %

14

Type of Reporting Person (See Instructions)

PN, IA

Comment for Type of Reporting Person:

The percentages used herein are calculated based upon 18,738,121 shares of common stock outstanding as of 10/31/25, as disclosed in the company's N-CSR filed 1/6/26.

SCHEDULE 13D

CUSIP Number(s): 18914C100

1

Name of reporting person

Boaz R. Weinstein

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

NEW YORK

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 1,063,832.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 1,063,832.00

11

Aggregate amount beneficially owned by each reporting person

1,063,832.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

5.68 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

The percentages used herein are calculated based upon 18,738,121 shares of common stock outstanding as of 10/31/25, as disclosed in the company's N-CSR filed 1/6/26.

SCHEDULE 13D

CUSIP Number(s): 18914C100

1

Name of reporting person

Saba Capital Management GP, LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 1,063,832.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 1,063,832.00

11

Aggregate amount beneficially owned by each reporting person

1,063,832.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

5.68 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

The percentages used herein are calculated based upon 18,738,121 shares of common stock outstanding as of 10/31/25, as disclosed in the company's N-CSR filed 1/6/26.

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Common Shares, no par value
(b)	Name of Issuer: Clough Global Equity Fund
(c)	Address of Issuer's Principal Executive Offices: 1700 Broadway, Suite 1850, Denver, COLORADO , 80290.
Item 1 Comment: This Amendment No. 2 amends Items 3, 5, and 7.
Item 2.	Identity and Background
(a)	This Schedule 13D/A is being jointly filed by: (i) Saba Capital Management, L.P., a Delaware limited partnership ("Saba Capital"); (ii) Saba Capital Management GP, LLC, a Delaware limited liability company ("Saba GP"); and (iii) Mr. Boaz R. Weinstein ("Mr. Weinstein"), (together, the "Reporting Persons"). Any disclosures herein with respect to persons other than the Reporting Persons are made on information and belief after making inquiry to the appropriate party. The filing of this statement should not be construed as an admission that any Reporting Person is, for the purposes of Sections 13 of the Securities Exchange Act of 1934, the beneficial owner of the Common Shares reported herein.
(b)	The address of the business office of each of the Reporting Persons is 405 Lexington Avenue, 58th Floor, New York, New York 10174.
(c)	The principal business of: (i) Saba Capital is to serve as investment manager to private and public investment funds and/or accounts, (ii) Saba GP is to serve as general partner of the Saba Capital and other affiliated entities, and (iii) Mr. Weinstein, an individual, is managing member of the general partner of Saba Capital and other affiliated entities.
(d)	The Reporting Persons have not, during the last five years, been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors).
(e)	The Reporting Persons have not, during the last five years, been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and, as a result of such proceeding, was, or is subject to, a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, Federal or State securities laws or finding any violation with respect to such laws.
(f)	Saba Capital is organized as a limited partnership under the laws of the State of Delaware. Saba GP is organized as a limited liability company under the laws of the State of Delaware. Mr. Weinstein is a citizen of the United States.
Item 3.	Source and Amount of Funds or Other Consideration
	Funds for the purchase of the Common Shares were derived from the subscription proceeds from investors and the capital appreciation thereon and margin account borrowings made in the ordinary course of business. In such instances, the positions held in the margin accounts are pledged as collateral security for the repayment of debit balances in the account, which may exist from time to time. Since other securities are held in the margin accounts, it is not possible to determine the amounts, if any, of margin used to purchase the Common Shares reported herein. A total of approximately $10,636,712 was paid to acquire the Common Shares reported herein.
Item 5.	Interest in Securities of the Issuer
(a)	See the Reporting Persons section of this Schedule 13D for the aggregate number of Common Shares and percentages of the Common Shares beneficially owned by each of the Reporting Persons. The percentages used herein are calculated based upon 18,738,121 shares of common stock outstanding as of 10/31/25, as disclosed in the company's N-CSR filed 1/6/26.
(b)	See the Reporting Persons section of this Schedule 13D for the number of Common Shares as to which each Reporting Person has the sole or shared power to vote or direct the vote and sole or shared power to dispose or to direct the disposition.
(c)	The transactions in the Common Shares effected by the Reporting Persons within the past sixty days prior to 5/6/26, the date of the event which required filing of this Schedule 13D/A, which were all in the open market, are set forth in Schedule A, and are incorporated herein by reference.
(d)	The funds and accounts advised by Saba Capital have the right to receive the dividends and proceeds of sales from the Common Shares.
Item 7.	Material to be Filed as Exhibits.
	Exhibit 4 - Schedule A

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Saba Capital Management, L.P.

Signature:	/s/ Michael D'Angelo
Name/Title:	General Counsel
Date:	05/07/2026

Boaz R. Weinstein

Signature:	/s/ Michael D'Angelo
Name/Title:	Authorized Signatory
Date:	05/07/2026

Saba Capital Management GP, LLC

Signature:	/s/ Michael D'Angelo
Name/Title:	Attorney-in-fact*
Date:	05/07/2026

Comments accompanying signature:

Pursuant to a power of attorney dated as of November 16, 2015, which is incorporated herein by reference to Exhibit 2 to the Schedule 13G filed by the Reporting Persons on December 28, 2015, accession number: 0001062993-15-006823

FAQ

What stake in Clough Global Equity Fund (GLQ) does Saba Capital report?

Saba Capital and associated reporting persons disclose beneficial ownership of 1,063,832 common shares of Clough Global Equity Fund. This represents 5.68% of the fund’s outstanding shares, based on 18,738,121 shares reported outstanding as of October 31, 2025 in the issuer’s N-CSR.

How much did Saba Capital pay for its GLQ shares?

The filing states Saba Capital paid approximately $10,636,712 to acquire the reported Clough Global Equity Fund shares. Funds came from investor subscription proceeds, related capital appreciation, and ordinary-course margin borrowings where portfolio positions, including GLQ, may be pledged as collateral.

How is Saba Capital’s ownership in GLQ structured among the reporting persons?

The reported 1,063,832 GLQ shares are held with shared voting and dispositive power by Saba Capital Management, L.P., Saba Capital Management GP, LLC, and Boaz R. Weinstein. Each reporting person lists zero sole voting or dispositive power and identical shared amounts in the cover page tables.

What date triggered Saba Capital’s Schedule 13D/A filing for GLQ?

The event requiring this amended Schedule 13D filing occurred on May 6, 2026. Transactions in GLQ common shares executed during the 60 days before that date, all in the open market, are referenced in Schedule A, which is incorporated by reference into the main disclosure.

How was the 5.68% ownership percentage in GLQ calculated for Saba Capital?

The 5.68% ownership figure is based on 18,738,121 GLQ common shares outstanding as of October 31, 2025. That outstanding share count comes from Clough Global Equity Fund’s N-CSR filed January 6, 2026, as specifically cited in the Schedule 13D/A amendment.

Did Saba Capital use margin to acquire its GLQ position?

Yes. The filing explains that funds for purchasing GLQ common shares included margin account borrowings in the ordinary course of business. Securities in those accounts, including GLQ, may be pledged as collateral, though the exact portion of margin used for GLQ cannot be separately determined.