Vault-13

NEW GERMANY FD INC GF

COM · Closed-End Fund · CUSIP 644465106

36 institutional holders +1 vs Q1 2024
8,790,0598.8m shares reported held*
$71.5mreported value*
3 new 16 added 8 reduced 2 sold out net bought ≈ $897.8k (+112.3k shares)

* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once. Holder counts are more reliable. Implied quarter-end price ≈ $8.13.

Trends to Q2 2024

Institutional holders

Managers reporting a position, each quarter

02040Q3 22: 34Q4 22: 32Q1 23: 33Q2 23: 34Q3 23: 32Q4 23: 35Q1 24: 35Q2 24: 3636Q3 22Q1 23Q3 23Q1 24Q2 24
Numbers
QuarterHolders
Q3 202234
Q4 202232
Q1 202333
Q2 202334
Q3 202332
Q4 202335
Q1 202435
Q2 202436

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
20020Q4 22: 11 bought or addedQ4 22: 12 cut or sold outQ4 22Q1 23: 18 bought or addedQ1 23: 9 cut or sold outQ2 23: 13 bought or addedQ2 23: 12 cut or sold outQ2 23Q3 23: 10 bought or addedQ3 23: 14 cut or sold outQ4 23: 14 bought or addedQ4 23: 12 cut or sold outQ4 23Q1 24: 17 bought or addedQ1 24: 10 cut or sold outQ2 24: 19 bought or addedQ2 24: 10 cut or sold outQ2 24
Numbers
QuarterBought or addedCut or sold out
Q4 20221112
Q1 2023189
Q2 20231312
Q3 20231014
Q4 20231412
Q1 20241710
Q2 20241910

Biggest buyers

Karpus Management, Inc. Added +296,501+296.5k
WOLVERINE ASSET MANAGEMENT LLC Added +51,606+51.6k
1607 Capital Partners, LLC Added +49,214+49.2k
AQR Arbitrage LLC Added +35,710+35.7k
Allspring Global Investments Holdings, LLC Added +22,390+22.4k
LANDSCAPE CAPITAL MANAGEMENT, L.L.C. Added +21,543+21.5k
Matisse Capital Added +14,214+14.2k
HighTower Advisors, LLC New +12,264+12.3k
Logan Stone Capital, LLC Added +12,120+12.1k
LPL Financial LLC Added +11,720+11.7k

Biggest sellers

LAZARD ASSET MANAGEMENT LLC Reduced -210,344-210.3k
CITY OF LONDON INVESTMENT MANAGEMENT CO LTD Reduced -138,050-138.1k
Shaker Financial Services, LLC Reduced -41,063-41.1k
MORGAN STANLEY Reduced -26,039-26.0k
Relative Value Partners Group, LLC Sold out -15,764-15.8k
SUSQUEHANNA INTERNATIONAL GROUP, LLP Sold out -12,398-12.4k
WELLS FARGO & COMPANY/MN Reduced -1,625-1.6k
GABELLI FUNDS LLC Reduced -1,000-1.0k
UBS Group AG Reduced -791-791
BANK OF AMERICA CORP /DE/ Reduced -501-501

Major shareholders (over 5%)

Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.

HolderStakeChangeShares Last filed
Saba Capital Management, L.P. 13D · may seek influence +1.0 pts · filed 2026-10-07
Stated purposeThe Reporting Persons acquired the Common Shares to which this Schedule 13D/A relates in the ordinary course of business for investment purposes because they believe that the Common Shares are undervalued and represent an attractive investment opportunity. The Reporting Persons may engage in discussions with management, the Board of Directors (the "Board"), other shareholders of the Issuer and other relevant parties, including representatives of any of the foregoing, concerning the Reporting Persons' investment in the Common Shares and the Issuer, including, without limitation, matters concerning the Issuer's business, operations, board appointments, governance, performance, management, capitalization, trading of the Common Shares at a discount to the Issuer's net asset value and strategic… Full filing
 23.0% +1.0 pts 3.7m≈ $43.0m 2026-10-07
LAZARD ASSET MANAGEMENT LLC 13G · exempt (held before listing) +4.1 pts · filed 2025-05-15 14.2% +4.1 pts 2.3m≈ $26.3m 2025-05-15
Allspring Global Investments Holdings, LLC 13G · institution -2.4 pts · filed 2026-07-31 10.4% -2.4 pts 1.7m≈ $19.5m 2026-07-31
1607 Capital Partners, LLC 13G · institution -1.6 pts · filed 2026-08-14 5.0% -1.6 pts 811.4k≈ $9.3m 2026-08-14

Insider purchases and sales in Q2 2024

Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.

Officers and directors buying vs selling

Number of people, by quarter (10% owners not included)

BuyingSelling
101Q3 22: 0 buyingQ3 22: 0 sellingQ4 22: 1 buyingQ4 22: 0 sellingQ4 22Q1 23: 0 buyingQ1 23: 0 sellingQ2 23: 0 buyingQ2 23: 0 sellingQ2 23Q3 23: 0 buyingQ3 23: 0 sellingQ4 23: 0 buyingQ4 23: 1 sellingQ4 23Q1 24: 1 buyingQ1 24: 0 sellingQ2 24: 0 buyingQ2 24: 0 sellingQ2 24
Numbers
QuarterBuyingBoughtSellingSoldSold under a plan
Q3 20220—0——
Q4 20221$8.1k0——
Q1 20230—0——
Q2 20230—0——
Q3 20230—0——
Q4 20230—1$10.6k—
Q1 20241$8.5k0——
Q2 20240—0——

None reported in Q2 2024.

Holders, Q2 2024

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Allspring Global Investments Holdings, LLC 0.03% of their portfolio CHARLOTTE, NC 2,361,5492.4m $19.2m $19.2m 0.03% Added +22.4k +22,390
2 LAZARD ASSET MANAGEMENT LLC 0.02% of their portfolio NEW YORK, NY 1,751,7241.8m $14.2m $14.2m 0.02% Reduced -210.3k -210,344
3 1607 Capital Partners, LLC 1.24% of their portfolio Richmond, VA 1,700,8831.7m $13.8m $13.8m 1.24% Added +49.2k +49,214
4 CITY OF LONDON INVESTMENT MANAGEMENT CO LTD 0.58% of their portfolio London, X0 830,393830.4k $6.8m $6.8m 0.58% Reduced -138.1k -138,050
5 Karpus Management, Inc. 0.09% of their portfolio Pittsford, NY 411,884411.9k $3.4m $3.4m 0.09% Added +296.5k +296,501
6 Uncommon Cents Investing LLC 0.81% of their portfolio JANESVILLE, WI 316,469316.5k $2.6m $2.6m 0.81% Added +8.2k +8,249
7 Shaker Financial Services, LLC 0.92% of their portfolio Arlington, VA 280,683280.7k $2.3m $2.3m 0.92% Reduced -41.1k -41,063
8 GABELLI FUNDS LLC 0.02% of their portfolio Rye, NY 267,500267.5k $2.2m $2.2m 0.02% Reduced -1.0k -1,000
9 AQR Arbitrage LLC 0.03% of their portfolio Greenwich, CT 134,222134.2k $1.1m $1.1m 0.03% Added +35.7k +35,710
10 WOLVERINE ASSET MANAGEMENT LLC 0.02% of their portfolio CHICAGO, IL 109,644109.6k $892.0k $892.0k 0.02% Added +51.6k +51,606
11 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 99,47499.5k $809.0k $809.0k 0.00% Added +6.5k +6,530
12 Logan Stone Capital, LLC 0.20% of their portfolio CHICAGO, IL 96,50696.5k $785.1k $785.1k 0.20% Added +12.1k +12,120
13 Matisse Capital 0.30% of their portfolio PORTLAND, OR 75,21575.2k $611.9k $611.9k 0.30% Added +14.2k +14,214
14 CSS LLC/IL 0.04% of their portfolio CHICAGO, IL 63,50963.5k $516.6k $516.6k 0.04% Added +3.0k +2,983
15 LANDSCAPE CAPITAL MANAGEMENT, L.L.C. 0.04% of their portfolio Englewood, NJ 58,87258.9k $478.9k $478.9k 0.04% Added +21.5k +21,543
16 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 36,76136.8k $299.1k $299.1k 0.00% Added +11.7k +11,720
17 Arnhold LLC 0.03% of their portfolio New York, NY 32,64332.6k $265.6k $265.6k 0.03% Unchanged
18 SMITH, MOORE & CO. 0.02% of their portfolio CLAYTON, MO 24,56024.6k $199.8k $199.8k 0.02% Unchanged
19 GAMCO INVESTORS, INC. ET AL 0.00% of their portfolio GREENWICH, CT 23,11223.1k $188.0k $188.0k 0.00% Unchanged
20 Sigma Planning Corp 0.01% of their portfolio ANN ARBOR, MI 19,63019.6k $159.7k $159.7k 0.01% Added +54 +54
21 MERIDIAN INVESTMENT COUNSEL INC. 0.04% of their portfolio LAFAYETTE, CA 17,42917.4k $141.8k $141.8k 0.04% Added +48 +48
22 PNC Financial Services Group, Inc. 0.00% of their portfolio Pittsburgh, PA 13,59513.6k $110.6k $110.6k 0.00% Added +11.3k +11,320
23 HighTower Advisors, LLC 0.00% of their portfolio CHICAGO, IL 12,26412.3k $84.0k $84.0k 0.00% New
24 UBS Group AG 0.00% of their portfolio ZURICH, V8 11,60711.6k $94.4k $94.4k 0.00% Reduced -791 -791
25 ACORN FINANCIAL ADVISORY SERVICES INC /ADV 0.02% of their portfolio Reston, VA 10,46210.5k $85.1k $85.1k 0.02% Unchanged
26 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 10,00910.0k $81.4k $81.4k 0.00% Reduced -501 -501
27 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 7,7357.7k $62.9k $62.9k 0.00% Reduced -26.0k -26,039
28 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 5,0325.0k $41.0k $41.0k 0.00% Added +2.0k +2,025
29 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 1,9702.0k $16.0k $16.0k 0.00% Reduced -1.6k -1,625
30 Thomas J. Herzfeld Advisors, Inc. 0.00% of their portfolio MIAMI BEACH, FL 1,4531.5k $11.8k $11.8k 0.00% Unchanged
31 INTERNATIONAL ASSETS INVESTMENT MANAGEMENT, LLC 0.00% of their portfolio ORLANDO, FL 1,0381.0k $8.4k $8.4k 0.00% New
32 US BANCORP \DE\ 0.00% of their portfolio MINNEAPOLIS, MN 983983 $8.0k $8.0k 0.00% Unchanged
33 CWM, LLC 0.00% of their portfolio OMAHA, NE 589589 $5.0k $5.0k 0.00% Unchanged
34 BESSEMER GROUP INC 0.00% of their portfolio WOODBRIDGE, NJ 346346 $3.0k $3.0k 0.00% New
35 Allworth Financial LP 0.00% of their portfolio FOLSOM, CA 314314 $2.7k $2.7k 0.00% Unchanged
36 CONCOURSE FINANCIAL GROUP SECURITIES, INC. 0.00% of their portfolio BIRMINGHAM, AL 00 $0 $0 0.00% Unchanged