SCHEDULE: Sit Investment Associates Discloses 11.2% Clough Equity Fund Stake

Sit Investment Associates, Inc. and its subsidiary Sit Fixed Income Advisors II, LLC reported a combined beneficial ownership of 11.2% in Clough Global Equity Fund as of February 27, 2026.

Summary

• Sit Investment Associates, Inc. and Sit Fixed Income Advisors II, LLC jointly reported beneficial ownership of 2,104,530 shares of Clough Global Equity Fund common stock.
• This represents 11.2% of the class, based on 18,738,120 shares outstanding as of October 31, 2025.
• The shares are held on behalf of client accounts, for which Sit Investment Associates and Sit Fixed Income Advisors II act as investment advisers.
• The reporting persons disclaim beneficial ownership of these securities, as they are held for client accounts.
• The acquisition and holding of these securities are in the ordinary course of business and not for the purpose of changing or influencing control of the issuer.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this as a neutral-to-slightly positive development, as it confirms a significant institutional investor's continued passive stake, which can be seen as a vote of confidence in the fund, though it's a routine disclosure.

Positives

• A significant institutional investor, Sit Investment Associates, holds a substantial stake (11.2%) in Clough Global Equity Fund, potentially indicating confidence in the fund's strategy or underlying assets.

Future Outlook

The filing is a beneficial ownership report and does not contain forward-looking statements or guidance regarding the issuer's future performance or the reporting persons' future investment intentions beyond the ordinary course of business.

Management Comments

• The securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities.
• Sit Investment Associates, Inc. and Sit Fixed Income Advisors II, LLC disclaim beneficial ownership of such securities.

Industry Context

StockSavvy.ai notes that Schedule 13G filings are routine disclosures by institutional investors holding more than 5% of a company's stock, indicating passive investment intent. This filing confirms Sit Investment Associates' continued significant, albeit passive, stake in the Clough Global Equity Fund, a common practice for investment advisers managing client portfolios.

Comparison to Industry Standards

• The 11.2% stake held by Sit Investment Associates is a substantial position for an institutional investor in a closed-end fund like Clough Global Equity Fund, often signaling a long-term investment horizon for their client accounts.
• Compared to activist investors who might accumulate similar stakes to influence corporate governance (e.g., Starboard Value's stake in GCP Applied Technologies), Sit Investment Associates explicitly states a passive investment intent, aligning with typical investment adviser roles.
• This level of ownership is consistent with other large asset managers like BlackRock or Vanguard, who frequently report significant passive stakes across numerous public companies and funds on behalf of their diverse client base.

Stakeholder Impact

• **Shareholders**: The continued significant stake by Sit Investment Associates may provide a degree of stability and institutional backing for the Clough Global Equity Fund.
• **Management**: The passive nature of the investment indicates no immediate intent by Sit Investment Associates to influence the fund's management or strategic direction.

Next Steps

• The reporting persons will continue to hold the securities in the ordinary course of business for their client accounts.
• Any future changes in beneficial ownership exceeding certain thresholds would require subsequent Schedule 13G or 13D filings.

Key Dates

Recommendation

This Schedule 13G filing is a routine disclosure of passive institutional ownership and does not contain new information that would fundamentally alter the investment thesis for Clough Global Equity Fund. While the significant stake by Sit Investment Associates is a positive signal of institutional confidence, it does not warrant a 'buy' or 'sell' recommendation based solely on this filing. Investors should 'hold' and consider this information as part of a broader analysis of the fund's performance, strategy, and market conditions.

Keywords

Clough Global Equity Fund, Sit Investment Associates, Sit Fixed Income Advisors II, Schedule 13G, Beneficial Ownership, Investment Adviser, Equity Fund, Institutional Ownership