Saba Capital reports 15.3% stake in The New Germany Fund (NYSE: GF)

Rhea-AI Filing Summary

Saba Capital Management and related parties filed Amendment No. 8 to their Schedule 13D on The New Germany Fund, Inc., reporting beneficial ownership of 2,475,948 common shares, or 15.3% of the fund’s stock based on 16,179,780 shares outstanding as of June 30, 2025.

The filing shows Saba Capital, its general partner Saba Capital Management GP, LLC, and Boaz R. Weinstein sharing voting and dispositive power over all reported shares, with no sole power. Approximately $23,205,761 was paid to acquire these shares using investor subscription proceeds, capital appreciation, and ordinary-course margin borrowings.

The amendment updates disclosure on funding sources, ownership levels, and related exhibits, while stating no specific current plans or agreements regarding the issuer’s securities beyond investment, and noting all recent trades were executed in the open market by funds and accounts managed by Saba Capital.

Insights

Closed-end fund and ownership analyst

Saba Capital updates its 13D, confirming a 15.3% stake in The New Germany Fund.

The filing shows Saba Capital and affiliated entities collectively controlling 2,475,948 common shares of The New Germany Fund, Inc., equal to 15.3% of shares outstanding based on 16,179,780 shares as of June 30, 2025. Voting and dispositive authority are entirely shared, indicating coordinated control over this position.

Saba reports paying approximately $23,205,761 to build the stake, funded by investor subscriptions, capital appreciation, and margin borrowings in the ordinary course. The filing states no specific current plans regarding the issuer’s governance or strategy, and notes that all recent trades were executed in the open market by Saba-managed funds.

Because this is Amendment No. 8, it reflects ongoing, actively managed ownership rather than a new position. Future Schedule 13D updates or fund disclosures may further clarify how this sizable holding interacts with the fund’s structure and capital management over time.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 8)

The New Germany Fund, Inc.

(Name of Issuer)

Common Shares, $0.001 par value

(Title of Class of Securities)

644465106

(CUSIP Number)

Saba Capital Management, L.P.
405 Lexington Avenue, 58th Floor, Attention: Michael D'Angelo
New York, NY, 10174
(212) 542-4635

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

02/17/2026

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

SCHEDULE 13D

CUSIP No. 644465106

1

Name of reporting person

Saba Capital Management, L.P.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 2,475,948.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 2,475,948.00

11

Aggregate amount beneficially owned by each reporting person

2,475,948.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

15.3 %

14

Type of Reporting Person (See Instructions)

PN, IA

Comment for Type of Reporting Person:

The percentages used herein are calculated based upon 16,179,780 shares of common stock outstanding as of 6/30/25, as disclosed in the company's N-CSRS filed 9/4/25.

SCHEDULE 13D

CUSIP No. 644465106

1

Name of reporting person

Boaz R. Weinstein

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

NEW YORK

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 2,475,948.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 2,475,948.00

11

Aggregate amount beneficially owned by each reporting person

2,475,948.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

15.3 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

The percentages used herein are calculated based upon 16,179,780 shares of common stock outstanding as of 6/30/25, as disclosed in the company's N-CSRS filed 9/4/25.

SCHEDULE 13D

CUSIP No. 644465106

1

Name of reporting person

Saba Capital Management GP, LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 2,475,948.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 2,475,948.00

11

Aggregate amount beneficially owned by each reporting person

2,475,948.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

15.3 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

The percentages used herein are calculated based upon 16,179,780 shares of common stock outstanding as of 6/30/25, as disclosed in the company's N-CSRS filed 9/4/25.

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Common Shares, $0.001 par value
(b)	Name of Issuer: The New Germany Fund, Inc.
(c)	Address of Issuer's Principal Executive Offices: 875 Third Avenue, New York, NEW YORK , 10022.
Item 1 Comment: This Amendment No. 8 amends Items 3, 5, and 7.
Item 2.	Identity and Background
(a)	This Schedule 13D/A is being jointly filed by: (i) Saba Capital Management, L.P., a Delaware limited partnership ("Saba Capital"); (ii) Saba Capital Management GP, LLC, a Delaware limited liability company ("Saba GP"); and (iii) Mr. Boaz R. Weinstein ("Mr. Weinstein"), (together, the "Reporting Persons"). Any disclosures herein with respect to persons other than the Reporting Persons are made on information and belief after making inquiry to the appropriate party. The filing of this statement should not be construed as an admission that any Reporting Person is, for the purposes of Sections 13 of the Securities Exchange Act of 1934, the beneficial owner of the Common Shares reported herein.
(b)	The address of the business office of each of the Reporting Persons is 405 Lexington Avenue, 58th Floor, New York, New York 10174.
(c)	The principal business of: (i) Saba Capital is to serve as investment manager to private and public investment funds and/or accounts, (ii) Saba GP is to serve as general partner of the Saba Capital and other affiliated entities, and (iii) Mr. Weinstein, an individual, is managing member of the general partner of Saba Capital and other affiliated entities.
(d)	The Reporting Persons have not, during the last five years, been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors).
(e)	The Reporting Persons have not, during the last five years, been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and, as a result of such proceeding, was, or is subject to, a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, Federal or State securities laws or finding any violation with respect to such laws.
(f)	Saba Capital is organized as a limited partnership under the laws of the State of Delaware. Saba GP is organized as a limited liability company under the laws of the State of Delaware. Mr. Weinstein is a citizen of the United States.
Item 3.	Source and Amount of Funds or Other Consideration
	Funds for the purchase of the Common Shares were derived from the subscription proceeds from investors and the capital appreciation thereon and margin account borrowings made in the ordinary course of business. In such instances, the positions held in the margin accounts are pledged as collateral security for the repayment of debit balances in the account, which may exist from time to time. Since other securities are held in the margin accounts, it is not possible to determine the amounts, if any, of margin used to purchase the Common Shares reported herein. A total of approximately $23,205,761 was paid to acquire the Common Shares reported herein.
Item 4.	Purpose of Transaction
	Not Applicable.
Item 5.	Interest in Securities of the Issuer
(a)	See the Reporting Persons section of this Schedule 13D/A for the aggregate number of Common Shares and percentages of the Common Shares beneficially owned by each of the Reporting Persons. The percentages used herein are calculated based upon 16,179,780 shares of common stock outstanding as of 6/30/25, as disclosed in the company's N-CSRS filed 9/4/25.
(b)	See the Reporting Persons section of this Schedule 13D/A for the number of Common Shares as to which each Reporting Person has the sole or shared power to vote or direct the vote and sole or shared power to dispose or to direct the disposition.
(c)	The transactions in the Common Shares effected from the filing of the Schedule 13D/A on 1/2/26 by the Reporting Persons to 2/17/26, the date of the event which required filing of this Schedule 13D/A are set forth in Schedule A, and are incorporated herein by reference. All trades were effected in the open market.
(d)	The funds and accounts advised by Saba Capital have the right to receive the dividends and proceeds of sales from the Common Shares.
(e)	Not Applicable.
Item 6.	Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer
	Not Applicable.
Item 7.	Material to be Filed as Exhibits.
	Exhibit 6 - Schedule A

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Saba Capital Management, L.P.

Signature:	/s/ Michael D'Angelo
Name/Title:	General Counsel
Date:	02/18/2026

Boaz R. Weinstein

Signature:	/s/ Michael D'Angelo
Name/Title:	Authorized Signatory
Date:	02/18/2026

Saba Capital Management GP, LLC

Signature:	/s/ Michael D'Angelo
Name/Title:	Attorney-in-fact*
Date:	02/18/2026

Comments accompanying signature:

Pursuant to a power of attorney dated as of November 16, 2015, which is incorporated herein by reference to Exhibit 2 to the Schedule 13G filed by the Reporting Persons on December 28, 2015, accession number: 0001062993-15-006823

FAQ

What ownership stake does Saba Capital report in The New Germany Fund (GF)?

Saba Capital and affiliated reporting persons disclose beneficial ownership of 2,475,948 common shares of The New Germany Fund, Inc., representing 15.3% of the outstanding shares. This percentage is based on 16,179,780 shares outstanding as of June 30, 2025, from the fund’s N-CSRS filing.

Who are the reporting persons in this Schedule 13D/A for The New Germany Fund (GF)?

The Schedule 13D/A is filed jointly by Saba Capital Management, L.P., Saba Capital Management GP, LLC, and Boaz R. Weinstein. They are collectively referred to as the “Reporting Persons” and share beneficial ownership and authority over the reported common shares of The New Germany Fund, Inc.

How much did Saba Capital pay to acquire its GF shares and how were they funded?

The Reporting Persons state that approximately $23,205,761 was paid to acquire the common shares. Funds came from investor subscription proceeds, capital appreciation on those investments, and margin account borrowings made in the ordinary course of business, with positions pledged as collateral where applicable.

What voting and dispositive powers does Saba Capital have over GF shares?

The filing reports 0 shares with sole voting or dispositive power and 2,475,948 shares with shared voting and shared dispositive power for each reporting person. This means decisions to vote or sell the shares are made jointly under the arrangements described in the filing.

What does Amendment No. 8 to Saba’s Schedule 13D on GF change or update?

Amendment No. 8 specifically states that it amends Items 3, 5, and 7. It updates details on the source and amount of funds used, the interest in securities of the issuer including ownership percentages, and attaches Schedule A as an exhibit describing recent open-market transactions.

How were Saba Capital’s recent GF share transactions executed, according to the filing?

The filing explains that transactions in The New Germany Fund’s common shares from the prior amendment on January 2, 2026, through February 17, 2026, are listed in Schedule A. It explicitly states that all trades were effected in the open market by funds and accounts advised by Saba Capital.