Vault-13

NEW GERMANY FD INC GF

COM · Closed-End Fund · CUSIP 644465106

34 institutional holders +0 vs Q1 2025
10,237,80310.2m shares reported held*
$122.2mreported value*
3 new 10 added 13 reduced 3 sold out net bought ≈ $4.9m (+406.3k 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 ≈ $11.94.

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

02040Q3 22: 34Q4 22: 32Q1 23: 33Q2 23: 34Q3 23: 32Q4 23: 35Q1 24: 35Q2 24: 36Q3 24: 40Q4 24: 39Q1 25: 34Q2 25: 3434Q3 22Q2 23Q1 24Q4 24Q2 25
Numbers
QuarterHolders
Q3 202234
Q4 202232
Q1 202333
Q2 202334
Q3 202332
Q4 202335
Q1 202435
Q2 202436
Q3 202440
Q4 202439
Q1 202534
Q2 202534

Buyers vs sellers

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

Bought or addedCut or sold out
40040Q3 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 24Q3 24: 14 bought or addedQ3 24: 17 cut or sold outQ4 24: 10 bought or addedQ4 24: 21 cut or sold outQ4 24Q1 25: 16 bought or addedQ1 25: 19 cut or sold outQ2 25: 13 bought or addedQ2 25: 16 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 20231014
Q4 20231412
Q1 20241710
Q2 20241910
Q3 20241417
Q4 20241021
Q1 20251619
Q2 20251316

Biggest buyers

Saba Capital Management, L.P. Added +231,730+231.7k
Shaker Financial Services, LLC Added +111,605+111.6k
SIT INVESTMENT ASSOCIATES INC New +105,023+105.0k
ROYAL BANK OF CANADA Added +86,689+86.7k
LAZARD ASSET MANAGEMENT LLC Added +69,916+69.9k
Bulldog Investors, LLP Added +46,966+47.0k
Uncommon Cents Investing LLC Added +21,663+21.7k
GUGGENHEIM CAPITAL LLC New +13,430+13.4k
BLUE BELL PRIVATE WEALTH MANAGEMENT, LLC Added +12,440+12.4k
RAYMOND JAMES FINANCIAL INC New +1,996+2.0k

Biggest sellers

1607 Capital Partners, LLC Reduced -90,794-90.8k
Karpus Management, Inc. Reduced -73,547-73.5k
CITY OF LONDON INVESTMENT MANAGEMENT CO LTD Reduced -43,851-43.9k
AQR Arbitrage LLC Reduced -18,137-18.1k
SUSQUEHANNA INTERNATIONAL GROUP, LLP Sold out -16,489-16.5k
CSS LLC/IL Reduced -14,420-14.4k
Allspring Global Investments Holdings, LLC Reduced -14,000-14.0k
PNC Financial Services Group, Inc. Reduced -8,440-8.4k
GABELLI FUNDS LLC Reduced -8,000-8.0k
CoreCap Advisors, LLC Reduced -5,750-5.8k

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 2025

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 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 24Q3 24: 0 buyingQ3 24: 0 sellingQ4 24: 0 buyingQ4 24: 0 sellingQ4 24Q1 25: 0 buyingQ1 25: 0 sellingQ2 25: 0 buyingQ2 25: 0 sellingQ2 25
Numbers
QuarterBuyingBoughtSellingSoldSold under a plan
Q3 20230—0——
Q4 20230—1$10.6k—
Q1 20241$8.5k0——
Q2 20240—0——
Q3 20240—0——
Q4 20240—0——
Q1 20250—0——
Q2 20250—0——
DateInsiderTradeSharesPrice ValueTheir holding
2025-05-28 Saba Capital Management, L.P. +1 10% owner Bought 4,806 $11.34 $54.5k4.8k shares +<1%
2025-05-20 Saba Capital Management, L.P. +1 10% owner Bought 46,117 $11.05 $509.6k46.1k shares +2%
2025-05-19 Saba Capital Management, L.P. +1 10% owner Bought 10,300 $10.92 $112.5k10.3k shares +1%
2025-05-16 Saba Capital Management, L.P. +1 10% owner Bought 8,900 $10.87 $96.7k8.9k shares +0%
2025-05-15 Saba Capital Management, L.P. +1 10% owner Bought 26,057 $10.88 $283.5k26.1k shares +1%
2025-05-12 Saba Capital Management, L.P. +1 10% owner Bought 15,824 $10.87 $172.0k15.8k shares +1%
2025-05-08 Saba Capital Management, L.P. +1 10% owner Bought 200 $10.88 $2.2k200 shares +<1%
2025-05-05 Saba Capital Management, L.P. +1 10% owner Bought 65,585 $10.81 $709.0k65.6k shares +4%
2025-05-02 Saba Capital Management, L.P. +1 10% owner Bought 1,072 $10.66 $11.4k1.1k shares +<1%
2025-04-30 Saba Capital Management, L.P. +1 10% owner Bought 2,582 $10.46 $27.0k2.6k shares +<1%
2025-04-29 Saba Capital Management, L.P. +1 10% owner Bought 6,926 $10.41 $72.1k6.9k shares +<1%
2025-04-25 Saba Capital Management, L.P. +1 10% owner Bought 15,789 $10.35 $163.4k15.8k shares +1%
2025-04-24 Saba Capital Management, L.P. +1 10% owner Bought 2,123 $10.21 $21.7k2.1k shares +<1%
2025-04-23 Saba Capital Management, L.P. +1 10% owner Bought 100 $10.20 $1.0k100 shares +<1%
2025-04-22 Saba Capital Management, L.P. +1 10% owner Bought 9,949 $10.09 $100.4k9.9k shares +1%

Their holding: how much the trade added to or took from the insider's holding (direct, or the trust or fund named). The same trade is sometimes reported by more than one insider, such as a fund and the director who represents it; totals count it once. A value is left blank where the reported price is far from the market price (usually a typo).

Holders, Q2 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 LAZARD ASSET MANAGEMENT LLC 0.04% of their portfolio NEW YORK, NY 2,367,4132.4m $28.3m $28.3m 0.04% Added +69.9k +69,916
2 Allspring Global Investments Holdings, LLC 0.04% of their portfolio CHARLOTTE, NC 1,989,1002.0m $23.7m $23.7m 0.04% Reduced -14.0k -14,000
3 Saba Capital Management, L.P. 0.63% of their portfolio NEW YORK, NY 1,938,3891.9m $23.1m $23.1m 0.63% Added +231.7k +231,730
4 1607 Capital Partners, LLC 1.39% of their portfolio Richmond, VA 1,432,9111.4m $17.1m $17.1m 1.39% Reduced -90.8k -90,794
5 Bulldog Investors, LLP 1.49% of their portfolio SADDLE BROOK, NJ 493,479493.5k $5.9m $5.9m 1.49% Added +47.0k +46,966
6 Karpus Management, Inc. 0.14% of their portfolio Pittsford, NY 372,882372.9k $4.5m $4.5m 0.14% Reduced -73.5k -73,547
7 Uncommon Cents Investing LLC 1.16% of their portfolio JANESVILLE, WI 363,497363.5k $4.3m $4.3m 1.16% Added +21.7k +21,663
8 CITY OF LONDON INVESTMENT MANAGEMENT CO LTD 0.33% of their portfolio London, X0 296,051296.1k $3.5m $3.5m 0.33% Reduced -43.9k -43,851
9 GABELLI FUNDS LLC 0.02% of their portfolio Rye, NY 256,000256.0k $3.1m $3.1m 0.02% Reduced -8.0k -8,000
10 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 180,262180.3k $2.2m $2.2m 0.00% Added +86.7k +86,689
11 Shaker Financial Services, LLC 0.53% of their portfolio Arlington, VA 122,622122.6k $1.5m $1.5m 0.53% Added +111.6k +111,605
12 SIT INVESTMENT ASSOCIATES INC 0.03% of their portfolio Minneapolis, MN 105,023105.0k $1.3m $1.3m 0.03% New
13 BLUE BELL PRIVATE WEALTH MANAGEMENT, LLC 0.13% of their portfolio BLUE BELL, PA 65,10765.1k $777.4k $777.4k 0.13% Added +12.4k +12,440
14 AQR Arbitrage LLC 0.02% of their portfolio Greenwich, CT 59,33559.3k $708.5k $708.5k 0.02% Reduced -18.1k -18,137
15 CSS LLC/IL 0.03% of their portfolio CHICAGO, IL 34,42934.4k $411.1k $411.1k 0.03% Reduced -14.4k -14,420
16 Hudson Portfolio Management LLC 0.36% of their portfolio Garrison, NY 32,69032.7k $390.3k $390.3k 0.36% Reduced -456 -456
17 Arnhold LLC 0.04% of their portfolio New York, NY 32,64332.6k $389.8k $389.8k 0.04% Unchanged
18 GAMCO INVESTORS, INC. ET AL 0.00% of their portfolio GREENWICH, CT 22,91222.9k $273.6k $273.6k 0.00% Unchanged
19 GUGGENHEIM CAPITAL LLC 0.00% of their portfolio CHICAGO, IL 13,43013.4k $160.4k $160.4k 0.00% New
20 Verdence Capital Advisors LLC 0.01% of their portfolio HUNT VALLEY, MD 10,67810.7k $127.5k $127.5k 0.01% Unchanged
21 ACORN FINANCIAL ADVISORY SERVICES INC /ADV 0.02% of their portfolio Reston, VA 10,46210.5k $124.9k $124.9k 0.02% Unchanged
22 Federation des caisses Desjardins du Quebec 0.00% of their portfolio LEVIS, A8 8,9278.9k $106.6k $106.6k 0.00% Unchanged
23 PNC Financial Services Group, Inc. 0.00% of their portfolio Pittsburgh, PA 6,6426.6k $79.3k $79.3k 0.00% Reduced -8.4k -8,440
24 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 5,3505.3k $63.9k $63.9k 0.00% Reduced -169 -169
25 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 4,1624.2k $49.7k $49.7k 0.00% Reduced -1.0k -1,035
26 CoreCap Advisors, LLC 0.00% of their portfolio SOUTHFIELD, MI 3,2503.2k $38.8k $38.8k 0.00% Reduced -5.8k -5,750
27 UBS Group AG 0.00% of their portfolio ZURICH, V8 2,6832.7k $32.0k $32.0k 0.00% Added +1.6k +1,610
28 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 1,9962.0k $23.8k $23.8k 0.00% New
29 Thomas J. Herzfeld Advisors, Inc. 0.01% of their portfolio MIAMI BEACH, FL 1,7391.7k $20.8k $20.8k 0.01% Added +24 +24
30 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 1,2001.2k $14.3k $14.3k 0.00% Added +199 +199
31 US BANCORP \DE\ 0.00% of their portfolio MINNEAPOLIS, MN 983983 $11.7k $11.7k 0.00% Reduced -245 -245
32 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 967967 $11.5k $11.5k 0.00% Unchanged
33 CWM, LLC 0.00% of their portfolio OMAHA, NE 589589 $7.0k $7.0k 0.00% Unchanged
34 CONCOURSE FINANCIAL GROUP SECURITIES, INC. — of their portfolio BIRMINGHAM, AL 00 $0 $0 — Unchanged