Saba Capital buys 73,863 New Germany Fund shares

Saba Capital Management, L.P., a ten percent owner of New Germany Fund Inc (GF), reported two open-market purchases of the fund’s shares.

Rhea-AI Filing Summary

Saba Capital Management, L.P., a ten percent owner of New Germany Fund Inc (GF), reported two open-market purchases of the fund’s shares. On April 1, it bought 57,955 shares at $10.54 per share, followed by 15,908 shares at $10.49 per share on April 2. After these indirect purchases, Saba Capital’s total reported holdings in New Germany Fund increased to 2,669,003 shares.

Insights

Closed-end fund governance analyst

Saba Capital increased its indirect stake in New Germany Fund through routine open-market buying.

Saba Capital Management, L.P., a ten percent owner, executed two open-market purchases totaling 73,863 New Germany Fund shares at prices between $10.49 and $10.54. These are straightforward common share purchases, not option exercises or complex derivatives.

The filing shows Saba’s reported holdings rising to 2,669,003 shares after the latest trade, indicating a larger indirect position in the fund. There is no reference to trading plans or derivatives, so this update mainly reflects incremental accumulation rather than structural changes in ownership arrangements.

Insider Trade Summary

Net Buyer: 73,863 shares

Net Buy 2 txns

Insider Saba Capital Management, L.P.

Role 10% Owner

Bought 73,863 shs ($778K)

Type	Security	Shares	Price	Value
Purchase	New Germany Fund (GF)	15,908	$10.49	$167K
Purchase	New Germany Fund (GF)	57,955	$10.54	$611K

Holdings After Transaction: New Germany Fund (GF) — 2,669,003 shares (Indirect, _)

Key Figures

Shares purchased April 1: 57,955 shares Shares purchased April 2: 15,908 shares Total shares bought: 73,863 shares +3 more

6 metrics

Shares purchased April 1 57,955 shares Open-market purchase at $10.54 per share

Shares purchased April 2 15,908 shares Open-market purchase at $10.49 per share

Total shares bought 73,863 shares Net buying across two transactions

Holdings after latest trade 2,669,003 shares Indirect ownership reported after April 2 purchase

Price per share April 1 $10.54/share Open-market purchase of 57,955 shares

Price per share April 2 $10.49/share Open-market purchase of 15,908 shares

Key Terms

open-market purchase, ten percent owner, indirect ownership, Form 4

4 terms

open-market purchase financial

"transaction_action":"open-market purchase""

An open-market purchase is when an investor or a company buys shares on a public stock exchange at the going market price, rather than through a private deal. It matters to investors because these purchases change how many shares are available, can push the stock price up or signal confidence from large buyers, and often affect per-share metrics like earnings—think of it like someone buying lots of apples off a grocery shelf, reducing supply and potentially raising the price.

ten percent owner regulatory

""is_ten_percent_owner": 1"

indirect ownership financial

""ownership_type": "indirect""

Form 4 regulatory

"INSIDER FILING DATA (Form 4)"

Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.

FAQ

What insider activity did Saba Capital report for New Germany Fund (GF)?

Saba Capital reported two open-market purchases of New Germany Fund shares. It bought 57,955 shares at $10.54 on April 1 and 15,908 shares at $10.49 on April 2, increasing its indirect holdings in the fund.

How many New Germany Fund (GF) shares did Saba Capital buy in total?

Across the two transactions, Saba Capital bought 73,863 shares of New Germany Fund. The purchases were classified as open-market transactions, indicating standard buying activity rather than option exercises or other derivative-related events.

What is Saba Capital’s total reported ownership in New Germany Fund (GF) after these trades?

After the latest purchase on April 2, Saba Capital’s total reported indirect holdings in New Germany Fund rose to 2,669,003 shares. This figure reflects its position as disclosed in the Form 4 and confirms its status as a ten percent owner.

Were Saba Capital’s New Germany Fund (GF) purchases direct or indirect holdings?

The Form 4 classifies Saba Capital’s ownership as indirect, using the code “I.” This means the New Germany Fund shares are held through an entity or structure associated with Saba rather than directly in its own name.

What prices did Saba Capital pay for New Germany Fund (GF) shares?

Saba Capital’s open-market purchases were executed at $10.54 per share for 57,955 shares and $10.49 per share for 15,908 shares. These transaction prices indicate the levels at which the fund’s shares traded during those specific days.

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Accepted by SEC EDGAR 04/03/2026 - 05:11 PM 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)
04/02/2026

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
New Germany Fund (GF)	04/01/2026		P		57,955	A	$10.54	2,653,095	I	_
New Germany Fund (GF)	04/02/2026		P		15,908	A	$10.49	2,669,003	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: David Han	04/03/2026
	Boaz Weinstein	04/03/2026
	** 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)