Saba Capital boosts New Germany Fund (GF) stake to 2.33M 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 February 4, 2026, it purchased 12,802 shares at $12.28 per share in an indirect transaction.

Following this trade, Saba Capital Management, L.P. beneficially owned 2,327,956 shares of New Germany Fund common stock, held indirectly. This filing is a routine insider ownership disclosure under Section 16 rules.

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
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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)
02/04/2026

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	02/04/2026		P		12,802	A	$12.28	2,327,956	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	02/05/2026
	Boaz Weinstein	02/05/2026
	** 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 report for New Germany Fund (GF)?

Saba Capital Management, L.P. reported buying 12,802 shares of New Germany Fund common stock. The purchase occurred on February 4, 2026, at a price of $12.28 per share and was reported as an indirect ownership transaction.

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

After the reported trade, Saba Capital Management, L.P. beneficially owns 2,327,956 shares of New Germany Fund common stock. This figure reflects indirect ownership following the purchase of 12,802 additional shares on February 4, 2026.

Was the Saba Capital transaction in New Germany Fund (GF) a purchase or a sale?

The transaction was a purchase, shown by transaction code “P.” Saba Capital Management, L.P. acquired 12,802 New Germany Fund common shares at $12.28 each, increasing its indirect beneficial ownership to 2,327,956 shares after the trade.

At what price did Saba Capital buy New Germany Fund (GF) shares?

Saba Capital Management, L.P. bought the New Germany Fund common shares at $12.28 per share. The transaction involved acquiring 12,802 shares on February 4, 2026, and was reported as an indirect ownership position in the Form 4 filing.

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

Saba Capital Management, L.P. is identified as a more than 10% owner of New Germany Fund Inc. This status makes it a reporting person under Section 16, requiring it to disclose trades such as the recent purchase of 12,802 common shares.

Is Saba Capital’s New Germany Fund (GF) holding direct or indirect?

The holding is reported as indirect. In the Form 4, Saba Capital Management, L.P. lists ownership form as “I” (indirect) for the 2,327,956 New Germany Fund common shares beneficially owned after the February 4, 2026 purchase.