NEW GERMANY FD INC

CUSIP: 644465106 Class: COM

Holders for Q4 2025 Position Changes for Q4 2025

Note: Option positions (PUT/CALL) are excluded.

Increased Positions (6)

Saba Capital Management, L.P.
Value ($000) $25,245 (+11.8%) Shares 2,210,555 (+13.1%)
Bulldog Investors, LLP
Value ($000) $5,724 (+0.8%) Shares 501,257 (+2.0%)
BLUE BELL PRIVATE WEALTH MANAGEMENT, LLC
Value ($000) $1,147 (+18.6%) Shares 100,443 (+20.1%)
Karpus Management, Inc.
Value ($000) $4,214 (+1.0%) Shares 368,998 (+2.2%)
UBS Group AG
Value ($000) $10 (+67.0%) Shares 852 (+69.0%)
MORGAN STANLEY
Value ($000) $63 (+1.2%) Shares 5,483 (+2.5%)

Decreased Positions (10)

1607 Capital Partners, LLC
Value ($000) $14,316 (-7.5%) Shares 1,253,570 (-6.4%)
Shaker Financial Services, LLC
Value ($000) $1,398 (-9.3%) Shares 121,034 (-9.3%)
AQR Arbitrage LLC
Value ($000) $458 (-23.7%) Shares 40,119 (-22.7%)
CSS LLC/IL
Value ($000) $356 (-10.5%) Shares 31,181 (-9.4%)
GAMCO INVESTORS, INC. ET AL
Value ($000) $208 (-21.5%) Shares 18,200 (-20.6%)
CoreCap Advisors, LLC
Value ($000) $3 (-89.0%) Shares 250 (-88.9%)
ROYAL BANK OF CANADA
Value ($000) $952 (-4.6%) Shares 83,414 (-3.3%)
Thomas J. Herzfeld Advisors, Inc.
Value ($000) $8 (-45.5%) Shares 689 (-44.8%)
GUGGENHEIM CAPITAL LLC
Value ($000) $347 (-7.7%) Shares 30,391 (-6.6%)
WELLS FARGO & COMPANY/MN
Value ($000) $11 (-17.7%) Shares 1,000 (-16.7%)

Exited Positions (1)

ACORN FINANCIAL ADVISORY SERVICES INC /ADV
Value ($000) $121 Shares 10,462