New Germany Fund (GF) insider boosts stake with December share buys

Rhea-AI Filing Summary

New Germany Fund Inc. insider Saba Capital Management, L.P. reported open-market purchases of the fund’s common stock in late December. On December 26, 2025, the reporting person bought 800 shares at $11.37 per share, and on December 29, 2025 it bought an additional 8,827 shares at $11.45 per share. After these transactions, the reporting person indirectly beneficially owned 2,203,968 shares of New Germany Fund common stock.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Saba Capital Management, L.P.

(Last) (First) (Middle)

405 LEXINGTON AVENUE

58TH FLOOR

(Street)

NEW YORK NY 10174

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
NEW GERMANY FUND INC [ GF ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
12/26/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	12/26/2025		P		800	A	$11.37	2,195,141	I	-
Common Stock	12/29/2025		P		8,827	A	$11.45	2,203,968	I	-

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

	Saba Capital Management, L.P. By: Zachary Gindes	12/30/2025
	Boaz Weinstein	12/30/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What insider transaction did New Germany Fund (GF) report on this Form 4?

The filing shows that Saba Capital Management, L.P. reported purchases of New Germany Fund common stock on December 26, 2025 and December 29, 2025, increasing its indirect beneficial ownership.

How many New Germany Fund (GF) shares were purchased in the reported transactions?

The reporting person purchased 800 shares on December 26, 2025 and 8,827 shares on December 29, 2025 of New Germany Fund common stock.

At what prices were the New Germany Fund (GF) shares bought?

The shares were purchased at $11.37 per share on December 26, 2025 and at $11.45 per share on December 29, 2025.

What is the total number of New Germany Fund (GF) shares beneficially owned after these trades?

After the reported transactions, the reporting person indirectly beneficially owned 2,203,968 shares of New Germany Fund common stock.

How is the ownership of New Germany Fund (GF) shares characterized in the Form 4?

The Form 4 lists the ownership of the New Germany Fund common stock as indirect beneficial ownership by the reporting person.

Does this Form 4 involve any derivative securities of New Germany Fund (GF)?

The section for derivative securities shows no entries, indicating that only non-derivative common stock transactions were reported in this filing.