New Germany Fund: Saba buys 4,840 shares

A ten percent owner of GF disclosed indirect open-market purchases totaling 4,840 shares over two days without using a Rule 10b5-1 trading plan.

Rhea-AI Filing Summary

NEW GERMANY FUND INC (GF) reported that Saba Capital Management, L.P., a ten percent owner, made two open-market purchases of common stock. The firm bought 4,840 shares in total on September 15–16, 2026 at prices between $10.88 and $10.92 per share, held as indirect ownership, and no Rule 10b5-1 trading plan is reported.

Insider Trade Summary

Net Buyer: 4,840 shares

Net Buy 2 txns

Insider Saba Capital Management, L.P.

Role 10% Owner

Bought 4,840 shs ($53K)

Type	Security	Shares	Price	Value
Purchase	Common Stock	1,534	$10.88	$17K
Purchase	Common Stock	3,306	$10.92	$36K

Holdings After Transaction: Common Stock — 3,691,624 shares (Indirect, -)

Key Figures

Shares purchased on September 15, 2026: 3,306 shares at $10.92 per share Shares purchased on September 16, 2026: 1,534 shares at $10.88 per share Total shares purchased in reported transactions: 4,840 shares

3 metrics

Shares purchased on September 15, 2026 3,306 shares at $10.92 per share Open-market or private purchase of GF common stock by Saba Capital

Shares purchased on September 16, 2026 1,534 shares at $10.88 per share Open-market or private purchase of GF common stock by Saba Capital

Total shares purchased in reported transactions 4,840 shares Aggregate net buy across two GF transactions reported in this Form 4

Key Terms

ten percent owner, indirect ownership, Rule 10b5-1 trading plan

3 terms

ten percent owner regulatory

"The reporting person is identified as a ten percent owner of GF."

indirect ownership regulatory

"Each transaction is coded with ownership type I, indicating indirect ownership."

Rule 10b5-1 trading plan regulatory

"The Rule 10b5-1 checkbox is not affirmed, so no trading plan is reported."

A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider trading activity in GF did Saba Capital report on this Form 4?

Saba Capital Management, L.P., a ten percent owner of GF, reported two open-market purchases of common stock totaling 4,840 shares on September 15 and 16, 2026, all held through indirect ownership.

On what dates and at what prices were GF shares purchased in this filing?

The reporting person bought 3,306 GF shares on September 15, 2026 at $10.92 per share and 1,534 shares on September 16, 2026 at $10.88 per share, both as open-market or private transactions.

How many GF shares did Saba Capital buy in total according to this Form 4?

Across the reported transactions, Saba Capital Management, L.P. purchased a total of 4,840 GF common shares, based on 3,306 shares on September 15, 2026 and 1,534 shares on September 16, 2026.

Is Saba Capital a ten percent owner of NEW GERMANY FUND INC (GF)?

Yes. The Form 4 identifies Saba Capital Management, L.P. as a ten percent owner of NEW GERMANY FUND INC (GF), indicating beneficial ownership of more than ten percent of the company’s registered equity securities.

Were the reported GF trades made under a Rule 10b5-1 trading plan?

No. The filing indicates that the Rule 10b5-1 checkbox is not affirmed, so these purchases were not reported as being made under a Rule 10b5-1 trading plan or similar pre-arranged trading arrangement.

Are the GF shares in this Form 4 held directly or indirectly?

The transactions are reported as indirect ownership, coded as “I” for ownership type. This means the purchased GF shares are held through another entity or arrangement rather than directly by Saba Capital Management, L.P.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 09/17/2026 - 10:09 AM Accepted by SEC EDGAR 09/17/2026 - 10:08 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 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)
09/15/2026

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	09/15/2026		P		3,306	A	$10.92	3,690,090	I	-
Common Stock	09/16/2026		P		1,534	A	$10.88	3,691,624	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	09/17/2026
	Boaz Weinstein	09/17/2026
	** 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)