Saba Capital Management (NYSE: GF) boosts New Germany Fund stake to 2,253,211 shares

Rhea-AI Filing Summary

Saba Capital Management, L.P., a more than 10% owner of New Germany Fund Inc. (GF), reported buying additional common stock. On January 8, 2026, the firm purchased 22,290 shares of common stock at a price of $12.07 per share in an open-market transaction coded as a purchase. After this trade, Saba Capital Management, L.P. indirectly beneficially owned 2,253,211 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

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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)
01/08/2026

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	01/08/2026		P		22,290	A	$12.07	2,253,211	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	01/12/2026
	Boaz Weinstein	01/12/2026
	** 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.

FAQ

What insider transaction did Saba Capital Management report for GF?

Saba Capital Management, L.P. reported a purchase of 22,290 shares of New Germany Fund Inc. (GF) common stock on January 8, 2026, coded as a P transaction.

At what price were the New Germany Fund (GF) shares bought in this Form 4?

The reported trade shows Saba Capital Management, L.P. bought GF common stock at a price of $12.07 per share.

How many New Germany Fund (GF) shares does Saba Capital Management own after this trade?

Following the reported transaction, Saba Capital Management, L.P. indirectly beneficially owned 2,253,211 shares of New Germany Fund common stock.

What is Saba Capital Management’s relationship to New Germany Fund Inc. (GF)?

Saba Capital Management, L.P. is reported as a more than 10% owner of New Germany Fund Inc. (GF) and is not listed as a director or officer.

Is the ownership reported by Saba Capital Management in GF direct or indirect?

The Form 4 indicates that Saba Capital Management, L.P.’s 2,253,211 GF shares are held with indirect beneficial ownership.

Does this GF Form 4 include any derivative securities for Saba Capital Management?

The filing’s derivative securities table shows no entries, indicating that only non-derivative common stock was reported for this transaction.