Saba Capital adds New Germany Fund (GF) shares in open-market buy

Rhea-AI Filing Summary

Saba Capital Management, L.P., a more than 10% beneficial owner of NEW GERMANY FUND INC, reported an indirect open-market purchase of common stock. The firm bought 4,087 shares on March 20, 2026 at a price of $10.19 per share. After this transaction, Saba Capital’s indirect holdings increased to 2,558,825 common shares, indicating a modest addition to an already substantial position.

Insider Trade Summary

Net Buyer: 4,087 shares ($41,647)

Net Buy 1 txn

Insider Saba Capital Management, L.P.

Role 10% Owner

Bought 4,087 shs ($42K)

Type	Security	Shares	Price	Value
Purchase	Common Stock	4,087	$10.19	$42K

Holdings After Transaction: Common Stock — 2,558,825 shares (Indirect, -)

Footnotes (1)

Form 4 Insider Transactions: What Each Field Means →

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 NEW YORK 10174

(City) (State) (Zip)

UNITED STATES

(Country)

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)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/20/2026

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

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

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

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	03/20/2026		P		4,087	A	$10.19	2,558,825	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	03/23/2026
	Boaz Weinstein	03/23/2026
	** 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.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transaction did Saba Capital report for NEW GERMANY FUND INC (GF)?

Saba Capital Management, L.P. reported an indirect open-market purchase of 4,087 shares of NEW GERMANY FUND INC common stock. The trade occurred on March 20, 2026, and reflects additional buying activity by a more than 10% beneficial owner of the fund.

At what price did Saba Capital buy NEW GERMANY FUND INC (GF) shares?

Saba Capital bought NEW GERMANY FUND INC common stock at $10.19 per share. This price applies to the 4,087 shares purchased in an open-market transaction on March 20, 2026, as reported in the insider ownership filing.

How many NEW GERMANY FUND INC (GF) shares does Saba Capital hold after this transaction?

After the reported transaction, Saba Capital holds 2,558,825 shares of NEW GERMANY FUND INC common stock indirectly. This figure represents the total indirect ownership position following the purchase of 4,087 additional shares on March 20, 2026.

Was Saba Capital’s NEW GERMANY FUND INC (GF) trade a purchase or a sale?

The transaction was a purchase. Saba Capital Management, L.P. executed an open-market buy of 4,087 NEW GERMANY FUND INC common shares, classified as a purchase in the filing, increasing its overall indirect ownership stake in the fund.

Is Saba Capital considered a major holder of NEW GERMANY FUND INC (GF)?

Yes. Saba Capital Management, L.P. is identified as a more than 10% beneficial owner of NEW GERMANY FUND INC. The filing classifies Saba as a ten percent owner, and the reported transaction further increases its already large indirect share position in the fund.

Is Saba Capital’s NEW GERMANY FUND INC (GF) position held directly or indirectly?

The reported holdings are classified as indirect ownership. The Form 4 identifies the ownership type as indirect for the common stock position, meaning the shares are held through an entity or structure associated with Saba Capital rather than directly in its own name.