Saba Capital reports insider buy in New Germany Fund shares

Saba Capital Management, L.P., through reporting person Zachary Gindes, reported an insider purchase of New Germany Fund Inc. common stock.

Rhea-AI Filing Summary

Saba Capital Management, L.P., through reporting person Zachary Gindes, reported an insider purchase of New Germany Fund Inc. common stock. On 12/19/2025, the filer bought 15,973 shares of common stock at a price of $11.38 per share, coded as a purchase transaction.

After this transaction, the reporting person beneficially owned 2,166,487 shares of New Germany Fund Inc. common stock, held with an indirect ownership form.

Insider Trade Summary

Net Buyer: 15,973 shares

Net Buy 1 txn

Insider Saba Capital Management, L.P.

Role 10% Owner

Bought 15,973 shs ($182K)

Type	Security	Shares	Price	Value
Purchase	Common Stock	15,973	$11.38	$182K

Holdings After Transaction: Common Stock — 2,166,487 shares (Indirect, -)

FAQ

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

The filing reports that Saba Capital Management, L.P., through Zachary Gindes, purchased 15,973 shares of New Germany Fund Inc. common stock.

On what date did the New Germany Fund (GF) insider purchase occur and at what price?

The insider purchase took place on 12/19/2025, with shares of New Germany Fund Inc. common stock bought at $11.38 per share.

How many New Germany Fund (GF) shares does the reporting person own after the transaction?

Following the reported transaction, the reporting person beneficially owned 2,166,487 shares of New Germany Fund Inc. common stock.

What is the relationship of the reporting person to New Germany Fund (GF)?

The filing identifies the reporting person as a Director of New Germany Fund Inc.

Is the New Germany Fund (GF) insider ownership reported as direct or indirect?

The 2,166,487 shares of New Germany Fund Inc. common stock are reported with indirect ownership.

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

The section for derivative securities shows table headers but does not list any specific derivative transactions in the provided content.

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Accepted by SEC EDGAR 12/22/2025 - 11:12 AM Learn about SEC filing dates

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)
12/19/2025

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	12/19/2025		P		15,973	A	$11.38	2,166,487	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	12/22/2025
	Boaz Weinstein	12/22/2025
	** 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.